IN line with its objective of promoting financial system stability, the Central Bank of Nigeria (CBN) has issued a Revised Regulatory Framework for Bank Verification Number (BVN) operations and Watch-List for the Nigerian Banking Industry. In a communique issued on Tuesday, the CBN said the framework enhances the effectiveness of customer due diligence and “know … Read more
PRESIDENT Muhammadu Buhari has directed cabinet ministers and permanent secretaries to redouble their efforts and work in synergy toward total delivery of this administration’s set target to improve livelihood of all Nigerians. The president, who gave the directive at the end of the two-day Mid-term Ministerial Performance Review Retreat, also instructed the ministers to ‘‘ramp … Read more
WITH the present level of Nigeria’s external debt, every Nigerian citizen in the country is currently indebted to the tune of $157 or N64,684. This trend, according to a development economist, Dr. Tayo Bello, is worrisome as the borrowing rate is alarming and does not reflect in physical infrastructure that can repay the loans. As … Read more
THE Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has expressed his readiness to work with the National Identity Management Commission, NIMC, in ensuring that Nigeria has a credible national identity database that will help the fight against economic and financial crimes. He gave the assurance on Thursday, September 30, 2021, when … Read more
MERCHANTS are barred from exceeding N1 million a deal on eNaira transactions, the Central Bank guideline on the usage of the digital currency indicates. This is part of the operating model and prototype design of the payment platform due to take off on Friday. While the N1 million ceiling is placed on sending and receiving … Read more
Omooba Olumuyiwa Sosanya, renowned accountant and technocrat is founding president, Association of National Accountants of Nigeria (ANAN), one of the umbrella bodies regulating professional accountants in the country. In this interview with IBRAHIM APEKHADE YUSUF, Omooba Sosanya who doubles as a member of the Lagos State Governor’s Advisory Council, shares insights on the raging controversy over … Read more
CONTRSOVERSIAL cross dresser Idris Okuneye aka Bobrisky has mocked his former best friend Tonto Dikeh amidst social media brawl with her ex-boyfriend, Prince Kpokpogri. As the ex-lover’s breakup continues to get messier with both spilling private information and slamming each other with various allegations, Bobrisky, who is following the mudslinging with keen interest, has been … Read more
PRESIDENT Muhammadu Buhari has asked the Senate to amend the Petroleum Industry Act (PIA) 2021. He made the request in a letter read by the Senate President, Ahmad Lawan, during plenary on Tuesday on the floor of the upper chamber of the National Assembly in Abuja. In the letter dated September 16, President Buhari explained … Read more
JUSTICE S.S. Ogunsanya of the State High Court sitting in Ikeja, Lagos, on Tuesday, September 21, 2021, remanded one Madu Ozoemena, who is being prosecuted for an alleged $1,201,174 fraud, in prison. Ozoemena is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a two-count amended charge bordering on obtaining property by false … Read more
ABOKIFX, the website that publishes forex against the naira, has temporarily suspended the real time publication on its platform. This was consequent upon allegations of sabotage of Nigerian economy leveled against it by the Governor of Central Bank of Nigeria, Mr Godwin Emefiele. Emefiele had on Friday, September 17, 2021 in Abuja threatened to go … Read more