The federal government has issued a fresh update to depositors of affected Microfinance banks, whose licenses were revoked. Recall that the Central Bank of Nigeria in an official Gazette on Tuesday, revoked the licenses of some Microfinance Banks, four primary mortgages and three finance on failure to meet statutory conditions. Against the backdrop of the license withdrawal, the Nigeria Deposit Insurance Corporation, NDIC, said depositors of the affected banks should be calm as payment of their insured sums would be made promptly. Hassan Bello, the Managing Director of NDIC, gave this assurance in a statement recently. He noted that depositors’ verification would…
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The plane to commence the operations of the Nigeria Air will arrive the country on Friday, the Minister of Aviation, Hadi Sirika has posited. This was confirmed while minister Hadi Sirika had a chat with Channels Television. He maintained that a Nigeria Air aircraft will land in the country in two days as part of processes to commence operations and unveiling the delivery process. He promised that the aircraft will be unveiled in Nigeria’s colours in fulfillment of all the promises made by the administration in the aviation sector. He, however, noted that the only incomplete item is the aerotropolis, which…
The Oyo State House of Assembly has passed a bill to amend the Chiefs Law, Cap 28, laws of Oyo State of Nigeria, 2000. The bill was passed by the state lawmakers during their plenary on Wednesday. The passage of the bill into law followed the presentation of the report of the House Committee on Local Government and State Honours. Engineer Seyi Makinde initiated plans to amend section 28 (1) of the chiefs law CAP 28 laws of the state 2000. Makinde in the letter addressed to the lawmakers noted that the need to amend the law was as a…
President Muhammadu Buhari has tasked all ministers in his cabinet to continue until May 29, when president-elect Bola Tinubu will be inaugurated as his successor. This was confirmed by the Minister of Information and Culture, Lai Mohammed on Wednesday. Mohammed also noted that the Federal Executive Council (FEC), hasn’t been dissolved. Speaking with state house correspondents, he said: “I just want to make this clarification. While we were at the chambers there was a false breaking news that the federal executive council has been dissolved, which is not correct,” Lai said. “As a matter of fact, we have been directed…
Straight to the round of 16, as the Nigeria’s Flying Eagles flew over Italy at the 2023 FIFA U-20 World Cup following a 2-0. Italy started the game on the strong foot and hit the woodwork through Cesare Casadei on five minutes. The Flying Eagles took their time to settle into the game and troubled the Italian defence with a couple of long range efforts. Solomon Agbalaka handled the ball inside the box 10 minutes before the box. The left-back was lucky after the referee ruled that an Italian player also touched the ball in the build up following consultation…
The Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, will on Thursday May 25, 2023 in Abuja, inaugurate the newly appointed 39 members of the Election Petition Tribunal. The tribunal members will be sworn in at the main hall of the Supreme Court of Nigeria Complex. A statement by the Director of Information and Press of the court, Dr. Festus Akande indicated that the CJN would perform the ceremony by 11 am. The new members are to join others appointed earlier to adjudicate over petitions emanating from the conduct of the 2023 general elections conducted by the Independent National Electoral…
Three governors have backed up Ohanaeze Ndigbo’s plan to honour the invitation to attend the May 29, 2023 inauguration of the President-elect, Bola Ahmed Tinubu. In a statement issued on Wednesday, May 24, 2023, by the Ohanaeze Ndigbo Secretary General, Mazi Okechukwu Isiguzoro, the apex Igbo socio-cultural body stated that governors Dave Umahi of Ebonyi State, Okezie Ikpeazu of Abia State, and Nyesom Wike of Rivers State have “seconded their decision and are actively working with them to actualize it. The statement by Isiguzoro said: “Ohanaeze Ndigbo Worldwide is mobilizing massively to attend the inauguration of President-Elect, Senator Bola Ahmed…
The Economic and Financial Crimes Commission (EFCC), has advised Nigerians to be wary of the activities of unscrupulous elements using a fake EFCC Help Desk to issue scam alerts. The scam alerts according to the commission could be in the form of fake calls purported to be from the its’ help desk. Wilson Uwujaren, the Commission’s Spokesperson, in a statement in Abuja explained that the ‘Scam Alert’ trending on social media was fake. He clarified that for the avoidance of doubt, EFCC has no such desk, saying that any information which supposedly emanated from the said EFCC HELP DESK did…
President Muhammadu Buhari has again hinted at his retirement plans after exiting office on May 29. Speaking during the inauguration of the new Customs Headquarters in Abuja on Tuesday, the President said he would be far away from the nation’s capital after handing over power to his successor next Monday. “I try to plan to be as far away from Abuja as possible. I came from an area that is far away from Abuja,” Buhari stated. The President also underscored his cordial relationship with the Niger Republic, saying the neighbouring nation would defend him when he leaves office. According to…
Governor Abdulrahman Abdulrazaq of Kwara State has emerged as the new Chairman of the Nigeria Governors Forum (NGF). He replaced Governor Aminu Waziri Tambuwal of Sokoto State whose tenure of office would expire on May 29, 2023. This was contained in a communiqué signed by Tambuwal at the end of the 7th emergency meeting of the state governors held on Tuesday night in Abuja. It was gathered that Governor Abdulrazaq emerged through consensus, while Oyo State Governor, Seyi Makinde was chosen as vice chairman of the forum. “On the leadership of the Forum, the Governor of Kwara State, Abdulrahman Abdulrazaq,…
In what Nigerians call cash-out move, president Muhammadu Buhari has asked the Senate to approve $566,754,584.31, £98,526,012.00, and N226 billion to clear some outstanding judgement debts. This request is coming barely five days before the termination of the current administration. The letter of request was read by the Senate President, Ahmad Lawan on Wednesday during plenary. In the letter, Mr Buhari explained that the money are for judgement granted against ministries, departments and agencies which had earlier been settled through promissory notes. He stated that the payment of the judgment debt was approved by the federal executive council. “The distinguished…
The Central Bank of Nigeria’s Monetary Policy Committee (MPC), has further increased the interest rate by 2.5 per cent to 20.5 per cent from 18 per cent in March. Godwin Emefiele, the Governor of Central Bank of Nigeria disclosed this on Wednesday during the MPC communique presentation and Analysis. He explained that the decision is to curtail the rising inflation in Nigeria. “Our actions to increase the MPR rates are potent because the inflationary pressures you see today confronting us are a global phenomenon and this started in 2022”, he stated. In March, the policy-setting committee raised the MPR from…