The Central Bank of Nigeria has indicated that it would sanction development finance institutions (DFIs), primary mortgage banks (PMBs), and microfinance banks (MFBs) in Nigeria over late submission of regulatory returns through the Financial Institutions Returns Automation (FinA) application. In separate letters to the institutions dated March 5, 2024, the apex bank expressed strong disapproval…
The Central Bank of Nigeria, CBN, says Diaspora remittances surged by 433 per cent to $1.3 billion in February from $300 million in January. The Acting Director of Corporate Communications at CBN, Hakama Sidi Ali,said Bank’s data indicates that overseas remittances rose to US$1.3 billion in February 2024, more than four times the US$300 million…
PRESIDENT Bola Tinubu has suspended the Managing Director/CEO of the Rural Electrification Agency (REA), Ahmad Salihij, alongside three Executive Directors of the Agency, over N1.2 billion fraud allegation. The President also suspended the Executive Director, Corporate Services, Olaniyi Netufo; Executive Director, Technical Services, Barka Sajou and Executive Director, Rural Electrification Fund, Sa’adatu Balgore. The President’s…
Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted a 40-year-old businessman, Ejike Chibuke Solomon with 1.45 kilograms of cocaine concealed in his luggage while attempting to board an Ethiopia Airlines. NDLEA spokesperson, Femi Babafemi in a statement says Ejike was arrested at the Abuja airport as he was boarding Ethiopian Airline flight number 950…
President Bola Ahmed Tinubu, and His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, in Doha, witnessed the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports….
Senators Nwoye, Echocho Biker Over Kogi State Status The Nigerian Senate has rejected move to include Anambra State in the membership of Niger Delta Development Commission ( NDDC). This was as the move and rejection led to bickering between Senators Tony Nwoye and Jibrin Isah Senator Nwoye had in his lead debate on the bill…
The Senate has summoned the Minister of Federal Capital Territory and the Commissioner of Police in the FCT to brief the Senate in a closed-door session over the security challenges in the nation’s capital especially on the recent Galadima kidnap incident. The Senate announced the resolution after a motion moved by Senator Ned Nwoko, representing Delta North…
Collection of revenue by over 60 government agencies is a major cause of revenue leakages in the country over the years. Addressing the House of Representatives Committee on Finance, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zach Adedeji said that a lot of internal restructuring have been introduced since assumption of office,…
President Bola Ahmed Tinubu has departed Lagos on a two-day official visit to the State of Qatar to further strengthen cooperation between the two nations in several areas, including security, cultural exchange, and economic development. This is in honour of an invitation by His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State…
Former Group Managing Director, FBN Holdings, Urum Eke has rejected his nomination as a member of Board of Directors of the Central Bank of Nigeria. Eke, an Executive Director at First Bank, was one of five others nominated and screened as CBN Directors by the Senate Committee on Banking headed by Senator Adetokunbo Abiru. In…
