CBN bans use of foreign currency as collateral for naira loans The Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of the banking supervision department at CBN, disclosed this in a statement on[Read More…]
FCMB Funds ReelFruit’s Plant To Promote Sustainable Manufacturing First City Monument Bank (FCMB) has financed the newly inaugurated dried fruit manufacturing plant of Nature’s Bounty Health Products Limited(ReelFruit) in Abeokuta, Ogun State to promote sustainable manufacturing practice in the country. Sustainable manufacturing minimises negative environmental impact while conserving energy and[Read More…]
Emefiele Arrives Court For Arraignment On Fresh Charges The immediate-past governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has arrived at the Lagos State High Court in Ikeja for his arraignment over alleged abuse of office. Emefiele, alongside Henry Isioma Omole, will be arraigned on fresh 26 counts[Read More…]
Labour Party urges FG to reconsider Electricity Tariff hike The Labour Party (LP) has called on the Federal Government to reconsider its decision to hike the tariff payable by some electricity consumers in the country. Mrs Olubunmi Odesanya, Lagos State Publicity Secretary of the party, made the call in[Read More…]
Obazee submits final investigative report on Emefiele, to Tinubu President Bola Tinubu has commended Jim Obazee for his services as a special investigator as he concludes his probe on the activities of the Central Bank of Nigeria (CBN) and related entities. In July 2023, Tinubu appointed Obazee, former[Read More…]
Kano Gov Abba Yusuf set up panel to investigate Ganduje’s Govt Abba Yusuf, governor of Kano, has set up two judicial panels to probe cases of political violence, misappropriation of public assets and missing persons that occurred between 2015 and 2023, during the tenure of former Governor Abdullahi Ganduje. In[Read More…]
Wife of detained Binance executive writes Nigeria Government to release husband Yuki Gambaryan, Wife of the detained Binance Holdings Limited executive, Tigran Gambaryan, Binance’s head of financial crime compliance, has pleaded with the Nigerian government release her husband. Mrs Gambaryan, in a letter to the Nigerian government on[Read More…]
NERC fines Abuja DisCo ₦200m for tariff order violation The Nigerian Electricity Regulatory Commission (NERC) has slammed Abuja Electricity Distribution Plc (AEDC) with a fine of ₦200 million for failing to adhere to its tariff guidelines, creating a stir among consumers and industry stakeholders alike. The fine comes in[Read More…]
‘Fake’ Rivers PDP CTC list can’t stand – Fubara Gov. Siminalayi Fubara of Rivers, on Thursday declared a purported list of the state’s Peoples Democratic Party (PDP) Caretaker Committee members , circulating in the media, as fake. Fubara disclosed this at the inauguration of the Port Harcourt International Automobile Spare[Read More…]
NERC says new tariff will reduce electricity subsidy by N1.14 Following the approval of new increased electricity tariff on Wednesday, the Nigerian Electricity Regulatory Commission (NERC) has said it is expected to reduce subsidy for the 2024 fiscal year by about N1.14 trillion. In a statement on Wednesday,[Read More…]
