The Central Bank of Nigeria (CBN) has declared that cash withdrawals will no longer be permitted from accounts specifically opened for virtual and digital assets transactions. The directive, outlined in the ‘Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers,’ states that withdrawals from these accounts can only be facilitated through transfers or manager’s cheques. The CBN emphasized that accounts created under these new guidelines are solely intended for transactions involving virtual or digital assets and must not be utilized for any other purpose. The guidelines state, “No cash withdrawal shall be allowed from the account. No third-party…
Author: Editor Francis
President Joseph R. Biden Jr. has issued a proclamation outlining significant changes to the United States’ trade relations and designations. The proclamation focuses on actions under the African Growth and Opportunity Act (AGOA) and other trade-related matters. Changes to Beneficiary Sub-Saharan African Countries: 1. Mauritania Designation: The President has designated the Islamic Republic of Mauritania as a beneficiary sub-Saharan African country under section 506A of the Trade Act. 2. Termination of Designations: On the contrary, the designations of the Central African Republic, Gabon, Niger, and Uganda as beneficiary sub-Saharan African countries have been terminated effective January 1, 2024. Trade Agreements…
Recently, ThisDay newspaper published a story featuring Dr. Adesola Adeduntan, the Group Managing Director of First Bank of Nigeria Limited and it was not a surprising thing, especially for banks that have been “deliberate” about providing quality service to customers who choosed to be first. The Premier Bank in Africa coined “you first“ because they understood the phrase “what we live for.” Dr. Adesola reiterates that FirstBank emphasises its commitment to various stakeholders, highlighting its Q3 2023 financial performance, including a 34% growth in the loan book to N4.6 trillion, profitability despite a challenging environment, and increased shareholder wealth. During…
The Minister of Interior, Olubunmi Tunji-Ojo, has officially confirmed that the automation process for passport applications will commence operations on January 8, 2024. The announcement comes after the minister revealed in December that the Federal Government was diligently working towards a comprehensive automation system for passport applications in the country. Govima had earlier repoted that Dr. Olubunmi Tunji-Ojo, the Minister of Interior, criticizes the arduous process faced by married Nigerian women, particularly the need to travel to Abuja for passport data changes. The minister assured the public that the automated application system is now 99% complete, incorporating features such as…
In a bold move to address the alarming departure of doctors and healthcare professionals, the Lagos state government announces plans to construct a medical university this year, aiming to graduate 1,500 doctors annually. Governor Babajide Sanwo-Olu, speaking at the inauguration of the Femi Gbajabiamila General Hospital in Surulere, revealed that the new university’s construction will commence and be completed within the year. Governor Sanwo-Olu emphasized that the medical university project would be a collaborative effort with the Federal Ministry of Health and the National Universities Commission (NUC). The decision to establish the university stems from recommendations by Federal authorities, urging…
The Federal Government has decided to halt the evaluation and accreditation process for degree certificates obtained from Benin and Togo Republic The decision, disclosed in a statement by Mrs. Augustina Obilor-Duru, Assistant Director of Press at the Ministry of Education in Abuja, is a response to investigative work by journalist Umar Audu, as detailed in the Daily Nigerian Newspaper on December 30. The investigation, titled “UNDERCOVER: How DAILY NIGERIAN reporter bagged Cotonou varsity degree in six weeks, participated in NYSC scheme,” prompted the suspension pending the outcome of a comprehensive investigation. This inquiry will involve the Ministry of Foreign Affairs,…
All 379 passengers and crew of a Japan Airlines plane miraculously escaped from fire, following a collision with a Coast Guard aircraft at Tokyo’s Haneda airport on Tuesday, but local media said most of the coast guard plane crew had died. The Coast Guard said the collision involved one of its planes that was headed to Niigata airport on Japan’s west coast to deliver aid to those caught up in a powerful earthquake that struck on New Year’s Day, killing at least 48 people. Five of the six crew of the coast guard aircraft have died, public broadcaster NHK reported.…
In a significant geopolitical development, the BRICS group officially expands its membership to include five new countries: Saudi Arabia , Egypt, United Arab Emirates , Iran , and Ethiopia , effective as of Monday, January 1, 2024. This expansion follows the formal invitation extended to these nations in August 2023, post the 15th BRICS Summit held in Johannesburg, South Africa. Originally established with Brazil , Russia , India , China , and South Africa as its founding members, BRICS serves as a pivotal platform for collaboration among emerging markets and developing countries. The decision to include Saudi Arabia, Egypt, United…
The 2023 Labour Party (LP) presidential candidate, Mr Peter Obi, says a new Nigeria is possible despite the numerous yet-to-be-fulfilled aspirations of citizens. Obi, in his New Year Message to Nigerians on Monday, said that “As Nigeria is the only country we have, deeply endowed but lacking good leadership over the years, we will continue to seek a new Nigeria that we know is possible.” According to him, the party will continue to adjust to new role as Nigeria’s main opposition party. Expressing his heartfelt and warmest greetings to all Nigerians, Obi prayed God to bless them richly and grant…
In a significant development on Monday afternoon, President Bola Ahmed Tinubu officially signed the 2024 Budget into law at the State House in Abuja. The ceremony, held at exactly 2 pm, marked a crucial step in the fiscal planning for the upcoming year. President Tinubu, upon his arrival at the State House from the airport, wasted no time and proceeded directly to the brief yet impactful budget signing ceremony. The event was attended by senior government officials, creating an atmosphere of anticipation and significance. Among the notable personalities present were the President of the Senate, Senator Godswill Akpabio, and the…
A powerful 7.5 earthquake hit central Japan on Monday, the USGS said, prompting tsunami warnings and authorities to urge people in the area to move to higher ground. “All residents must evacuate immediately to higher ground,” national broadcaster NHK said after the quake hit the Noto region in Ishikawa prefecture around 4:10 pm (0710 GMT). Hazardous tsunami waves were possible within 300 kilometres (190 miles) of the quake’s epicentre along the Japan coast, the Hawaii-based Pacific Tsunami Warning Center said. A tsunami of 1.2 metres was confirmed to have arrived in Wajima city in Ishikawa prefecture. But a much higher…
In a New Year message titled ‘Blood and Crucifixion On The Plateau,’ the Bishop of Sokoto Diocese, Mathew Hassan Kukah, has called on President Bola Ahmed Tinubu to address the pervasive issue of mindless killings in the country. Bishop Kukah emphasized that the legitimacy of the government rests on resolving this crisis and restoring the nation. Expressing frustration with vague explanations, Kukah stated, “Tinubu must know that the legitimacy of his government hangs on resolving this and giving us our country back. We are tired of the confusing, inexcusable monosyllabic excuses.” He said, “We are tired of the confusing, inexcusable…