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CBN CONDEMNS REJECTION OF LOWER DOLLAR BILLS.

The Central Bank of Nigeria CBN has issued a warning to Deposit Money Banks DMBs and authorized forex dealers, advising them against rejecting old and lower dollar denominations from customers in the country following several complaints from customers after it conducted consumer market intelligence. In a circular dated June 27, 2024, but made public by the apex bank on Monday, the Acting Director, Currency Operations Department of the Apex bank, SOLAJA OLAYEMI said the regulator condemned the selective acceptance of deposits and that all relevant parties comply accordingly. The CBN said all […]

todayJuly 3, 2024

National

PRESIDENT TINUBU ENGAGES NEW BOARD MEMBERS FOR FAMILY HOMES FUNDS.

President BOLA TINUBU has approved the appointment of board members for Family Homes Funds Limited FHFL. The media aid to the President, AJURI NGELALE in a short statement yesterday listed the new appointees as DEMOLA ADEBISE as Board Chairman, ABDUL MUTTALAB as Chief Executive Officer and Managing Director,ABDULLAHI MUSA as Executive Director, Finance, and EMEKA INEGBU as Executive Director, Operations. Others appointed to the board as non-executive directors include SAM OKAGBUE, MUSA AHMED, ENIANG NKANG, BILKISU USMAN, and representatives of the Ministry of Finance Incorporated and Nigeria Sovereign Investment Authority NSIA. The President expects the new members of the board to […]

todayJuly 3, 2024

News

ABIA STATE STOPS ALL ENTRY INTO GOVERNMENT FOREST RESERVES.

The Commissioner for Environment in Abia State PHILEMON OGBONNA has directed all persons and companies involved in any form of activity relating to the government’s forest reserves to stop forthwith and report to the ministry for discussions and subsequent approvals were necessary. OGBONNA in a signed statement issued to newsmen over the weekend in UMUAHIA said the directive has become necessary following various reports received by the ministry that there have been encroachments and unauthorized entries into the forest reserves. It […]

todayJuly 1, 2024

Uncategorized

FEDERAL GOVERNMENT WARNS LAGOS-CALABAR HIGHWAY CONTRACTORS AGAINST DELAY.

The Minister of Works DAVID UMAHI has threatened that contractors who are unserious about the Federal Government Road project they are handling will have their contractsterminated and awarded to other contractors. UMAHI who gave the warning during a stakeholder's engagement on the alignment of Sections 3B and 4 of the Lagos- Calabar Coastal Highway project, at the weekend in UYO,assured the people of President BOLA TINUBU’S commitment to the successful completion of the project. He said that out of the total span of 700Kilometers, 27 km of Section 3b and 80 km of Section 4, totaling 107 km, fall within Akwa Ibom […]

todayJuly 1, 2024

National

FEDERAL GOVERNMENT ANNOUNCES PLAN TO SEND FIRST NIGERIAN TO SPACE.

The Director General of the National Space Research and Development Agency, NASRDA, MATHEW ADEPOJU has announced that they are sending Nigeria’s first citizen into space. ADEPOJU at a press conference in Abuja yesterday said that the government had signed a Memorandum of Understanding MoU, with the Space Exploration and Research Agency SERA, to facilitate the ambitious venture. He stated that the collaboration, which is coming to the country, marks a significant milestone in Nigeria’s 25th anniversary of the Space Exploration journey and opens […]

todayJune 20, 2024

News

COURT JAILS MAN FOR CURRENCY RACKETEERING IN ENUGU STATE.

The Economic and Financial Crimes Commission EFCC in Enugu state, has secured the conviction and sentence of one ONUIGBO CHIBUZOR over a one-count charge bordering on currency racketeering. The suspect who appeared before Justice MOHAMMED UMAR of the Federal High Court sitting in Enugu, pleaded guilty  CHIBUZOR was arrested around OTIGBA, in New Haven, Enugu State for selling 40,000Naira new Naira notes for 60,000 Naira whichcontravenes Section 21 subsection 4 of the Central Bank of Nigeria Act, 2007 and punishable under Section 21 subsection 1 of the same Act. Delivering the […]

todayJune 19, 2024

National

NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION EXTENDS LICENSING BID REGISTRATION.

The Chief Executive Officer Nigerian Upstream Petroleum Regulatory Commission NUPRC,GBENGA KOMOLAFE has announced an extension to the 2024 licensing bid round registration by 10 days to allow interested investors to take advantage of the expanded opportunities. KOMOLAFE who announced this yesterday in Abuja explained that in pursuit of the commission’s commitment to derive value from the country’s oil and gas reserves and increase production, the commission has been working assiduously with multi-client companies, to undertake more exploratory activities, acquire more data to […]

todayJune 19, 2024

National

CBN ISSUES APPROVED GUIDELINES FOR BDC OPERATORS.

The Central Bank of Nigeria CBN has released its approved guidelines to regulate the activities of Bureau de Change BDC operators in the country. In its new circular released yesterday, the minimum capital base for Tier-1 BDCs is two billion Naira and that of Tier-1 is set at five hundred million naira while the mandatory caution deposit of 200 million Naira for tier-1 BDC license holders was removed and fifty million naira for tier-2 license holders was waived. The Director of Financial Policy and Regulationof the Apex Bank HARUNA MUSTAFA, said the approved guidelines take effect from June 3, 2024. The […]

todayMay 23, 2024

Entertainment

TEKNO INKS STRATEGIC DEAL WITH EMPAWA AFRICA.

Hitmaker and maestro producer TEKNO has officially inked a revolutionary deal with emPawa Africa, the music company of music entrepreneur MR EAZI. This game-changing collaboration will see TEKNO's Cartel Music releasing some exciting new music via emPawa Africa while he plans to invest as a shareholder in emPawa Africa during the company’s next capital call round.  He joins Grammy-winning music producer MICHAËL BRUN among those who have invested in the innovative, African-owned label services company founded by MR EAZI in 2018. emPawa Africa has housed artists like JOEBOY, MAJOR LEAGUE DJZ, FAVE, KING PROMISE, MINZ and DJ NEPTUNE, among others.

todayMay 23, 2024

News

ADEMOLA LOOKMAN SCORES HISTORIC HAT-TRICK FOR ATALANTATO WIN THE EUROPA LEAGUE.

Super Eagles forward ADEMOLA LOOKMAN scored a sensational hat-trick for ATALANTA, who won the Europa League final 3-0 last night at the AVIVA Stadium in DUBLIN to end German Champions BAYER LEVERKUSEN'S 51-game unbeaten run. Xabi Alonso's team simply ran out of steam after a phenomenal season with LOOKMANwho Got to the African Cup of Nations final running them ragged, opening the scoring with a back-post finish in 12 minutes before doubling the advantage with a stunning curling effort 14 minutes later. He wrapped up his famous treble […]

todayMay 23, 2024

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