Economy

Cash Hoarding: CBN Warns Banks, POS Operators

By Web News 499

The Central Bank of Nigeria has cautioned Banks and POS operators against illegal actions affecting the circulation of naira.

This comes on the heels of public outcry that the Naira is not accessible to Nigerians.

Punch Newspaper

The CBN warned parties involved to immediately desist from such acts or face the law, saying there is over cash availability.

In a statement signed by the Acting Director of Communication and Public Relations, Sidi Ali, on Thursday, the CBN says that there is collusion between some Deposit Money Banks and Point-Of-Sale operators affecting the availability of cash and disrupting the seamless circulation of the Naira.

“The attention of the Central Bank of Nigeria has been drawn to alleged cases of collusion between some Deposit Money Banks and Point-of-Sale operators affecting the availability of cash and disrupting the seamless circulation of the Naira”. he noted

CBN has also advised Nigerians to use alternative payment platforms and channel their complaints via a digital platform provided in the statement.

Omolola Ameen/Simeon Ugbodovon

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Crime

Ekiti Police Boss Orders Full Investigation into Ikere Bank Robbery

By Web News 603

By Amos Ogunrinde

The Ekiti State Commissioner of Police, Mr Dare Ogundare has visited the scene of Wednesday’s armed robbery incident at Ikere-Ekiti for an on-the-spot assessment.

In a statement made available to Newsmen in Ado Ekiti,  the command’s Public Relations Officer, Mr Sunday Abutu said the Commissioner expressed displeasure over the ugly incident.

He directed the Ikere Area Commander and all the Tactical Teams within the Command to ensure that, the perpetrators are trailed, arrested and brought to book. 

Mr Ogundare commiserated with the family members of those who lost their loved one and wished those currently receiving treatment in the hospital a quick recovery.

The Commissioner called for calm and implored everyone to go about their lawful businesses as the Command will not rest until the hoodlums are made to face the full wrath of the law. 

He explained that the Command’s tactical squads as well as the military who were deployed to the scene immediately information was received, engaged the hoodlums who later abandoned the three vehicles and two motorcycles they used for the operation and escaped into the bush. 

According to the CP, the vehicles and the motorcycles were recovered to the station. 

Mr Ogundare therefore enjoined anyone with useful information concerning the identities and whereabouts of armed robbers to contact the following numbers:

√ 08062335577

√ 07031620186

√ 08033470524

√ 07032152150

√ 09064050086

Three persons were said to have been feared dead today in Ikere Ekiti and five others sustained injuries when suspected armed robbers attacked two commercial Banks, Access and Wema in the town.

The men of the underworld allegedly carried out the attack  in the peak hour of the day when business activities were ongoing which caught the residents unaware.

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Infrastructure

FG Pushes Mortgage Banks for Affordable Housing

By Web News 455

The Federal Government has called on Chief Executive Officers of mortgage banks to explore creative ways to make mortgages more affordable to Nigerians of all income brackets.

The Minister of Housing and Urban Development, Mr Ahmed Dangiwa who made the call in Abuja at a retreat organised by stakeholders in the mortgage banking sub-sector said the nation’s Capital Market had not been maximally tapped to raise long-term funds to refinance mortgage loans.

He said adopting the Rent-to-Own and Flexible Monthly Mortgage loan repayments would make commercial loans in the country more affordable.

The minister cited a report that identified some of the challenges in the sector which include the affordability gap in home ownership, absence of long-term funds, critical need for enhanced capital and resource base of Primary Mortgage Institutions, difficulty in accessing Land and secure title to Land due to the shortcomings in the provision and implementation of the Land Use Act of 1978.

Others include inadequate legal framework, inadequate housing infrastructure, inadequate incentives, concessions and taxes, non-availability of insurance framework, insufficient production, high cost of building materials and inadequate skilled labour.

He, therefore, stressed the need for all key players to find ways to navigate the macro, legal and policy bottlenecks to address challenges in the sector.

According to Mr Dangiwa, this could be achieved through effective leadership and innovations.

He said the ministry was also poised to establish building materials manufacturing hubs, construct over forty thousand houses which would be tagged the Renewed Hope Cities and upgrade slums across the country.

“Our Renewed Hope Cities and Estates Program seeks to deliver 40,000 housing units ranging from 1,000 housing units per site in one location in each of the six geo-political zones of the country and FCT namely: Abuja, Lagos, Kano, Borno, Nasarawa, Rivers, and Enugu States”.

The theme of the event was, ” Advancing Sustainable and Affordable Housing in Nigeria: Navigating Macro-Economic, Legislative, and Policy Frontiers”.

Philip Ichaba

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Economy

Adeleke Appeals to Banks’ CEOs, Approves Payment to Pensioners

By Web News 532

By Funmi Adekoya

Governor Ademola Adeleke has pleaded with banks’ Chief Executive Officers in Nigeria to reopen their closed branches in towns across Osun State, assuring them of renewed security.

A statement by Governor’s Spokesperson, Mallam Olawale Rasheed indicates that the Governor made the appeal at the opening of the renovated Ede branch of First Bank of Nigeria.

Governor Adeleke said his administration had restrategised the security architecture of the state to secure every towns and villages.

He noted that the security situation which was the reason for the closing of Banks’ branches at Ila, Iree, Ikirun, Iwo and other areas of the state had been resolved.

The Governor, while commending the First Bank for its partnership with Osun State, said his administration was prepared to deepen partnership with financial institutions and private organizations in the state.

Meanwhile, Senator Ademola Adeleke has approved almost half a billion naira to 734 pensioners who are retirees under the old pension scheme, who are Local Government Staff and Primary School teachers.

The Governor, according to a statement issued by the Permanent Secretary, Local Government Staff Pension Bureau, Mr. Akibu Ibrahim, said the retirees who are under the old pension scheme had been captured in the tranche.

The statement directs pensioners who have less than five hundred thousand naira balance with the state government to visit the Local Government Staff Pension Bureau for proper documentation and payment.

Recall that, Governor Adeleke has promised not to take with levity the welfare of the people of Osun, hence his resolve to continue to pay the inherited debt by the previous government and offsetting backlog of workers’ salary and pensioners.

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Economy

Customers Laud Weekend Banking, Appeal for Continuity

By Web News 475

By Fasilat Lawal

In Ibadan, most banks opened for Saturday and Sunday business activities following Central Bank Of Nigeria Directives on Commercial banks.

When Radio Nigeria visited some banks in the metropolis, large crowd of customers were seen on que in the banking hall trying to get money across the counter, and withdraw at the ATMs.

Two of bank customers Mr Kola Raheemi and Mr Afolabi Peter who spoke to Radio Nigeria lauded the weekend banking activities saying ATM’s were dispensing money despite the crowd and were still not able to get the actual money needed .

Mr Raheemi and Mr Peter urged the banks to sustain the availability of cash through banking halls and ATMs to ease the burden.

The Central bank had directed bank to pick old 1,000 ,500, and 200 notes at its office across the country for onward disbursement to customers following a meeting between the CBN Governor Godwin Emefiele and Bank chief executives officers.

Recalled that the president of Nigeria Labour Congress, Joe Ajaero directed public sector workers in the country to embark on strike beginning from Wednesday next week.

Mr Ajaero said workers could not access cash to pay fares to work nor buy food for their families.

He urged the government not to relent in efforts towards making life more bearable for the citizens.

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Economy

Hope Dashed as Banks Shut Door Against Customers

By Web News 481

The hope of customers to receive cash across the counter got dashed as commercial banks shut their doors against them.

The bank premises in Dugbe axis were stormed by a crowd of customers in anticipation of changes to their previous experiences following President Muhammadu Buhari’s National Broadcast in the early hours of Thursday extending the validity of the old 200 naira note till April 10 left without a dime.

Some of them who expressed disappointment said the development had compounded their sufferings.

In another development, the entrance of the Central Bank of Nigeria Dugbe Ibadan experienced a large turnout of residents waiting to deposit their old 500 and 1000 naira notes while the CBN are yet to commence the collection process of the old notes.

Some customers however said the collection of the old naira notes should be done at various banks and not at the Central Bank for an easier process

Meanwhile,, a Legal Practitioner, Mr Ayo Arowosafe said the president has acted in contempt of the supreme court by declaring the five hundred naira and one thousand naira as non-legal tender.

The legal practitioner noted that the ruling of the Supreme Court that the status quo of the old naira notes should be maintained till the 22nd of this month was sacrosanct and any objection should be taken to the apex court for review.

He frowned at the pronouncement of the president as it would set a bad precedent which is undermines the nation’s legal system. 

Ibomor//Adewumi/Ahonmisi/Adu/Afonja

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Crime

Police Nab Suspected Robbers Terrorizing Banks in Ibadan

By Web News 566

As part of its determination to rid Oyo State of unscrupulous and sinister-minded elements, the Police Command has apprehended members of a criminal gang specialized in carrying out robbery attacks on Banks in Ibadan.

This is contained in a statement in Ibadan signed by the police public relations officer in the State, Mr Adewale Osifeso. 

The statement indicates that the arrest of the suspects, who recently robbed a new generation bank in Ibadan, was made easy with an intelligence-led and purposeful driven operation of the gallant officers of the Command. 

According to the statement, the suspected criminal gang members are Abass Azeez ‘m’ 42yrs, Mayowa Kehinde ‘m’ 29yrs, contract staff/marketer with a new generation bank, Rildwan Eniola ‘m’ 33yrs, Mistura Akinade ‘f’ 33yrs, Abass Aderoju ‘m’ 41yrs and Akeem Adeniyi ‘m’ 37yrs. 

The statement notes that the suspects were all nabbed at their Agara Odo-Ona hideout along Akala road after concluding plans to execute a bank robbery attack on another new generation bank within the metropolis.

The statement further notes that the suspects have all confessed their various involvements in the criminal operations, which included arms procurement and clandestine intelligence gathering ahead of the proposes date of perpetrating the dastardly act.

It states further that comprehensive investigations are in progress to crackdown the criminal network and other accomplices.

The statement adds that in cases of emergency, the Command can be reached through these emergency control room numbers: 615 (toll-free) (OYO STATE SECURITY TRUST FUND), and Oyo State Police Command emergency lines 07055495413 and 08081768614. 

 The NPF Rescue-Me App is also available for free download on both Android and Apple IOS, for Android and I phone users respectively.


Meanwhile, the Commissioner of Police in the state, Mrs Ngozi Onadeko has enjoined residents to continue to partner the Police in terms of providing timely and credible information valuable in curbing criminality and maintaining the relative tranquility enjoyed in the State.

PR/Rasheeda Makinde