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The Central Bank of Nigeria (CBN) has rolled out stringent measures affecting cash withdrawals from accounts primarily used for virtual and digital assets transactions, a move that has sent ripples across the financial landscape. In a newly introduced ‘Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers,’ the apex bank has mandated that…
In a sweeping move, the Economic and Financial Crimes Commission (EFCC) executed an unannounced raid on the nerve center of the Dangote Group in Lagos, intensifying investigations into forex allocations amid allegations of preferential treatment. Sources privy to the situation disclosed that EFCC operatives descended upon the conglomerate’s headquarters, demanding access to records documenting a…
Awa, Akwa Ibom’s renowned Jubilee Syringe Manufacturing (JSM) has shuttered its operations, marking the demise of what was once touted as Africa’s foremost syringe manufacturing venture. The company’s closure was attributed to unforeseen challenges that significantly disrupted its business operations. Established in 2017 and inaugurated with great pomp by former Vice President Yemi Osinbajo, JSM…
The Economic and Financial Crimes Commission (EFCC) has ramped up its investigation into the National Social Investment Programme Agency (NSIPA), seizing N30 billion amidst a probe into the alleged transfer of N44 billion from the agency’s accounts. Sources privy to the investigation revealed that EFCC operatives traced a substantial portion of the N44 billion to…
In a fervent plea to President Tinubu, renowned commentator Reno Omokri has called for immediate action to curb the epidemic of gambling that is wreaking havoc on Nigeria’s economy. Taking to his Twitter handle, Omokri urged Tinubu to intervene decisively to salvage the nation’s economic stability, emphasizing the urgent need to stem the flow of…
A widespread loan recovery effort has been initiated by commercial banks targeting the loans disbursed to individuals and Micro, Small, and Medium Enterprises (MSMEs) in response to the economic repercussions of the COVID-19 pandemic. Shocked beneficiaries have reported sizable deductions from their bank accounts without prior notification from the banks, leaving many baffled and financially…
A harrowing incident shook Tokyo’s Haneda Airport on Tuesday when a Japan Airlines Airbus A350 burst into flames following a ground collision with a Japan Coast Guard plane. The collision resulted in a catastrophic fire, leaving devastation in its wake. With 367 passengers and 12 crew members aboard the Airbus A350, the chaotic scene witnessed…
In a recent development, President Bola Tinubu has sanctioned the immediate suspension and launch of a probe into the conduct of a high-ranking official overseeing the National Social Investment Program Agency. This decision follows allegations of financial impropriety within the agency’s operations. The embattled official, Ms. Halima Shehu, served as the National Coordinator and CEO…
The National Union of Nigerian Students (NANS) has made a fervent appeal to the Federal Government, urging a reevaluation of its decision to suspend the accreditation and evaluation of degree certificates obtained from Benin Republic and Togo, neighboring nations of Nigeria. This plea comes on the heels of the government’s recent move to suspend certificates…
The traditional ruler of Edem Ani Ogwugwu Ancient Kingdom in Nsukka Local Government Area of Enugu State, HRH, Igwe Ikechukwu Asadu, on Tuesday, disclosed his intension to make the youths of his community employers of labour. He equally said that he wants to engage the youths into productive Small and and Medium scales Enterprises, SMEs…