CBN threatened to sanction any Deposit Money Bank found in breach of directive

The Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank found in breach of its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies. This Read More

READ MORE

INEC resumed the recall process for senator Dino Melaye.

The Independent National Electoral Commission has resumed the recall process for the senator representing Kogi West Senatorial District, Dino Melaye. An INEC National Commissioner and member of the Information and Voter Education Committee, Mallam Mohammed Haruna, said in a statement on Tuesday that the commission would release a revised timetable and schedule of activities on Read More

READ MORE

EFCC discovered N6bn uncompleted eight-story building belonging to Patience Jonathan

The Economic and Financial Crimes Commission has discovered an uncompleted eight-story building in a prime area of Abuja allegedly belonging to Patience Jonathan, the wife of former President Goodluck Jonathan. The building, which has been described by the EFCC as a ‘magnificent architectural edifice,’ has not yet been valued by the commission. However, comparative analysis Read More

READ MORE

FG approved N20bn for the settlement of the 2017 export claims.

The Executive Director/Chief Executive Officer, Nigeria Export Promotion Council, Olusegun Awolowo, on Thursday in Kano, stated that the Federal Government had approved N20bn for the settlement of the 2017 export claims. At a stakeholders’ forum on the revised guidelines on the Export Expansion Grant, Awolowo stated that the review of the scheme by the Federal Read More

READ MORE

Ibrahim Magu : “we don’t wait for protocols to make arrest of criminal”

The Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has said the anti-graft agency go after criminals against protocols because the delay is dangerous. Magu reportedly made this known on Thursday, September 8, 2017, during his visit to Punch Place in Magboro, Lagos. Speaking about the EFCC’s achievements and aims, Magu said the Read More

READ MORE

Despite Nigeria exiting recession equities market closed in the red on Tuesday

Despite Nigeria exiting recession on Tuesday, the equities market closed in the red, shedding N35bn. On the release of the second quarter Gross Domestic Product data, the market opened this week’s trading with a loss as Seplat Petroleum Production Company Plc, Julius Berger Nigeria Plc, Lafarge Africa Plc, Cadbury Nigeria Plc and Total Nigeria Plc Read More

READ MORE

Central Bank of Nigeria on Tuesday injected $250m into foreign exchange market

The Central Bank of Nigeria on Tuesday injected $250m into the various segments of the inter-bank foreign exchange market, in order to lift the naira against other major currencies. Figures obtained from the CBN indicated that the Retail Secondary Market Intervention Sales segment of the market received the highest intervention with a total of $100m, Read More

READ MORE

Femi Falana, (SAN) HAS SAID Chief Justice of Nigeria CAN RELEASE any prison inmate

Human rights lawyer, Mr. Femi Falana, (SAN), has said he maintains his earlier position that the Chief Justice of Nigeria and chief judges are empowered by law to conduct prison visits and order the release of any prison inmate if satisfied that the detention of that person is manifestly unlawful. Falana and another senior lawyer, Read More

READ MORE