Governance

NIMC Further Clarifies Features of New National ID Card

Web News 13 April 2024 92 0

Following the announcement of the planned release of a new National Identification Number in the country by the Federal Government last week, the National Identity Management Commission, NIMC has provided further clarifications on the proposed ID. In a statement released and signed by Head of Continue Reading

Crime

Emefiele Back in Court over Alleged Abuse of Office

Web News 8 April 2024 138 0

The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for his arraignment over alleged abuse of office and allocation of billions of dollars. Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning. […]Continue Reading

Economy

CBN Talks Tough on Banks

Web News 28 February 2024 205 0

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has vowed to pursue an aggressive regulatory environment to reduce infractions in the country’s banking system. He said this on Tuesday in Abuja at the Monetary Policy Committee meeting of the apex bank, the first since he assumed office in September 2023. He also stated […]Continue Reading

Economy

N30tn CBN Loans: Senate to Probe Buhari Govt, Emefiele

Web News 21 February 2024 194 0

The Senate on Tuesday resolved to probe how the N30tn Ways and Means loans of the Central Bank of Nigeria were obtained and spent by the administration of former President Muhammadu Buhari. Ways and Means is a loan facility through which the CBN finances the government’s budget shortfalls. The senate stated that the reckless spending […]Continue Reading

Economy

CBN Investigator Indicates Buhari’s Nephew Approved Naira Redesign

Web News 22 December 2023 307 0

The Special Investigator on the Central Bank of Nigeria and Related Entities, Jim Obazee, has indicated that the recent naira redesign wasn’t expressly approved by former President Muhammadu Buhari. Obazee had gathered that the approval came from Buhari’s aide, Sabiu Tunde ‘Yusuf’. This was contained in the investigator’s final report tagged, ‘Report of the Special […]Continue Reading

Economy

Cash Hoarding: CBN Warns Banks, POS Operators

Web News 22 December 2023 259 0

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 […]Continue Reading

Economy

Cardoso Pledges Strict Adherence to CBN Act

Web News 27 September 2023 351 0

The new Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said he will prioritise clearing the apex bank’s backlog of unsettled foreign exchange obligations in the near term. He said this on Tuesday during the screening session of members of the Senate. Cardoso promises to enhance transparency, fix corporate governance, and ensure confidence […]Continue Reading

Politics

CBN Gov Cardoso, Deputies for Senate Screening Today

Web News 26 September 2023 388 0

The Senate will today (Tuesday) screen the acting Governor of the Central Bank of Nigeria,  Dr Olayemi Cardoso, for confirmation into a substantive capacity alongside four nominees for the positions of CBN Deputy Governors,  to steer affairs of the apex bank in the next five years. The Red Chamber, which is returning from its two-month annual […]Continue Reading

Economy

Cardoso, Son of the 1st AG of the Federation

Web News 18 September 2023 363 0

By Olaitan Oye-Adeitan His may not have been a name that rings a bell in the Nation though he had held and occupied high ranking positions, making indelible impacts. But on Friday, 15th September, 2023, he came into lime light, upon his nomination by President Bola Ahmed-Tinubu as Governor of the  Central Bank of Nigeria, […]Continue Reading

Economy

We process, not pay workers’ salaries- IPPIS

Web News 30 August 2023 358 0

The Director in Charge of the Integrated Personnel Payroll and Information System, IPPIS, Mr Emma Deko says they are not responsible for the payment of salaries or workers. Mr Deko said the system is only responsible for the process of payment. Mr Deko who spoke at the resumed hearing of the House of Representatives adhoc […]Continue Reading

Economy

CBN Introduces Forex Price Verification Platform

Web News 18 August 2023 254 0

The Central Bank of Nigeria has introduced a foreign exchange price verification system designed for importers to have access to forex. The apex bank in a statement from its Trade and Exchange Department on Thursday night, said a price verification report from the portal is now mandatory for all Form M requests while it takes […]Continue Reading

Crime

FG Files Fresh Charges against Emefiele

Web News 15 August 2023 255 0

The Federal Government on Tuesday applied to withdraw the charge of illegal possession of firearms filed against the suspended governor of the Central Bank of Nigeria, Godwin Emefiele. Director of Public Prosecutions at the Federal Ministry of Justice Mohammed  Bakodo Abubakar who approached the Federal High Court in Ikoyi with an oral application said the withdrawal Continue Reading

Economy

FG Targets Forensic Audit of CBN, Overhaul of Civil Service Payroll

Web News 5 August 2023 303 0

President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent.  The President stated this during an audience with the President of the World Bank, Mr. Ajay Banga, at the Presidential Villa, Abuja. ”The reforms are in tandem with Nigeria’s Ease […]Continue Reading

Economy

Suspended CBN Gov. Emefiele Faces Trial

Web News 25 July 2023 408 0

The suspended Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Federal High Court sitting in Lagos State The embattled CBN boss arrived at the court premises around 9:20 am for his alleged gun possession trial. He is to stand trial on two counts of possessing a single-barrel shotgun (JOJEFF MAGNUM 8371) without […]Continue Reading

Opinion

Tinubu’s Presidency: Plaudits, Knocks and Prospects

Web News 21 July 2023 328 0

It is incontrovertible that the performance of President Tinubu has beaten the imagination of his close associates and other poles apart within a short interval since his inauguration on 29th May, 2023. Obviously, steps and decisions so far taken indicate that BAT prepared himself for the plum job compared to most of his predecessors who once […]Continue Reading

Lifestyle

Yet We Survived

Web News 30 June 2023 313 0

By Olaitan Oye- Adeitan Time it was when Coronavirus was ravaging violently and it appears as if there would be no end. Then, nose masks became a significant part of dressing, coming in all shades and styles. Sellers made huge profits, selling a piece of nose mask for five hundred naira in the very outbreak […]Continue Reading

Transportation

Airfares Rise as Exchange Rate Hits N702/$

Web News 20 June 2023 666 0

Airfares on Nigeria routes to various destinations in Europe, North America, the Middle East, and other foreign cities have skyrocketed as the exchange rate for ticket pricing hits N702/$. The development came barely one week after the Central Bank of Nigeria floated the naira and directed commercial banks to sell foreign exchange at market-determined rates. […]Continue Reading

Crime

Just in: DSS Arrests Emefiele

Web News 10 June 2023 515 0

Suspended Governor of Central Bank of Nigeria, Godwin Emefiele, has been arrested by the Department of State Security Services, DSS.The news of Emefiele arrest was made now on Bayo Onanuga Twitter page @aonanuga1956.According to reports, the DSS apprehended Emefiele, shortly after his suspension by President Bola Tinubu on Friday evening.Following his suspension, Emefiele Continue Reading

Economy

Update: Dismiss report of naira devaluation to N630/$1- CBN

Web News 1 June 2023 369 0

The Central Bank of Nigeria, CBN said it has not devalued the naira urging the public to dismiss any contrary report. Acting Director, Corporate Communication, Dr. Isa AbdulMumin stated this in a statement titled, “CBN Has Not Devalued the Naira”. He said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to […]Continue Reading

Economy

NLC, CBN Meet over Planned Strike

Web News 28 March 2023 295 0

The Minister of Labour and Employment, Chris Ngige, has taken steps to avert the impending nationwide strike of the Nigeria Labour Congress, NLC, billed to commence on Wednesday. The labour union had threatened to embark on nationwide industrial action if the cash crunch, fuel scarcity and electricity tariff increase were not addressed. In response to […]Continue Reading

Economy

BREAKING: CBN Obeys Court Order, Says Old Naira Notes Remain Legal Tender

Web News 13 March 2023 678 0

By Olaolu Fawole The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday and also on the verified social media pages of the apex bank. “In compliance with the established tradition of […]Continue Reading

Economy

Gov Adeleke Frowns as Banks Reject Old Notes

Web News 12 March 2023 446 0

By Funmi Adekoya The Governor of Osun State, Senator Ademola Adeleke has decried the maltreatment of residents of the state by banks which refused to collect old currency notes even after paying customers with old notes. In a statement issued by the Governor’s Spokesperson, Mallam Olawale Rasheed, the Governor lamented the pains and suffering of […]Continue Reading

Politics

Poll Materials Make Way out of CBN Ibadan amidst Tight Security

Web News 23 February 2023 590 0

Mosope Kehinde  Independent National Electoral Commission INEC in Oyo state has commenced the distribution of sensitive materials to the 33 local government areas of the state. The exercise which was done at the Central Bank of Nigeria, CBN amidst tight security had representatives of political parties The distribution of sensitive materials however confirmed the Continue Reading

Economy

Gov. Adeleke Calls for Sanctions Against Banks Hoarding New Naira Notes

Web News 20 February 2023 408 0

By Funmi Adekoya The Osun State, Senator Ademola Adeleke urges the Central Bank of Nigeria, CBN, to sanction financial institutions involved in the hoarding of new naira notes. Addressing CBN officials in his office, Governor Adeleke decried the increasing shortage of the new notes, explaining that, he has been deploying state networks to douse tension […]Continue Reading

Economy

CBN Denies Authorising Commercial Banks to Collect Old #500, #1, 000 Naira Notes

Web News 17 February 2023 529 0

The Central Bank of Nigeria, CBN, has denied reports circulating on the social media that it has asked deposit money banks to collect the old N500 and N1,000 banknotes. In a statement on Friday, CBN, Director of Corporate Communications, Osita Nwanisobi said, the apex bank has not authorized any bank to receive the deposit of […]Continue Reading