The Central Bank of Nigeria (CBN) has debited Nigerian banks a sum of N838.82 billion to mop up liquidity from the Nigerian economy. About fifteen banks were debited a sum of N838.82 billion for not meeting the minimum of 32.5% Cash Reserve Ratio (CRR) threshold stipulated by the apex bank. This is according to information provided to Nairametrics by reliable sources with knowledge of the debits. Banks often exchange information on direct debit from each other comparing notes to see who got hit the hardest. The central bank had in the last monetary policy meeting communicated to the market that…
Author: Newsdesk
The Niger State House of Assembly has given the Minister for Works a 48-hour ultimatum to fix the collapsed portion of the Minna-Bida road. The assembly took the decision after a matter of public importance was brought before the house by Mr Mohammed Haruna (APC), a member representing Bida II. He called on the government to urgently save the Minna-Bida road from total cut-off at the plenary in Minna on Tuesday. Speaker of the House, Mr Abdullahi Bawa while reading the resolutions of the house, directed the Ministry of Works to fix the bad portions of the Minna-Bida road. He…
President Muhammadu Buhari will present the 2023 budget estimates to the joint session of the National Assembly (NASS) by 10 am on Friday. This is contained in a letter Buhari write to the President of Senate, Dr Ahmad Lawan and read at plenary on Tuesday. Lawan said the venue for presentation of the 2023 budget estimates by Buhari would be at the temporary chamber of the House of Representatives. According to him, arrangements would be made to accommodate all the senators, adding that senators would proceed to the venue in procession . The Minister of Finance, Budget and National Planning, Mrs.…
Police in Ekiti paraded 19 suspects on Tuesday at Ado-Ekiti one of whom allegedly broke into a church in Osun and stole N600,000 offerings. Police spokesperson, DSP Sunday Abutu, said the suspect already confessed to the crime and would be arraigned after completion of investigation. He said the 18 other suspects were arrested for offences such as kidnapping, armed robbery, cultism, attempted murder, burglary and conspiracy. Abutu said that the suspects were among those terrorising the people of the state and that their arrests were made possible using information provided by residents of the state. He listed Items recovered from…
President Muhammadu Buhari on Tuesday presented SP Daniel Amah with a Public Service Integrity Award for displaying exceptional courage and integrity in the discharge of his duties. Amah, an indigene of Plateau received the award by President Buhari in Abuja at the 4th National Summit on Diminishing Corruption in the Public sector, with the theme, “Corruption and the Education Sector. Amah, a Divisional Police Officer (DPO) in Bompai Kano, rejected $200,000 bribe to sweep under the carpet a case involving one Mr Ali Zaki a Bureau De Change Operator who connived with other criminally minded individual to rob a Nigerian…
The European Parliament on Tuesday approved new rules that will introduce in the European Union a single charging port for mobile phones, tablets and cameras by 2024. However, a world first that is expected to affect iPhone maker Apple more than its rivals. The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple (AAPL.O) to change its charging port for iPhones and other devices. Among big providers of electronic devices to European customers, Apple is expected to be among the most affected, but analysts also expect a possible positive…
The federal government says the list of nominees for national honour circulating on social media is “fake”. A statement by the Director of Press, Ministry of Special Duties and Inter-Governmental Affairs, Julie Osagie Jacobs, said the authentic list was yet to be released to the public. According to Jacobs, President Muhammadu Buhari will confer national honours on some Nigerians and friends of the country on October 11. “The attention of the Federal Ministry of Special Duties and Inter-Governmental Affairs has been drawn to a purported list of nominees for National Honours being circulated by some online media organisations. “While it…
A 2-storey building hotel in the Bodija area in Ibadan collapsed on Sunday, weeks after a 5- storey building had collapsed in the same area, Vanguard has reported. The 2-storey building collapsed on Sunday midnight around Adabor Junction, Ashi, Bodija, Ibadan, an eye witness said. The building, according to some residents, housed a pharmacy, supermarket and church. One of the residents, Sade Aderibigbe said: “We suddenly heard a loud shaking noise in midnight, we were scared because we think it was armed robbers. “We rushed out to the scene, on getting there, we saw that the building has sunk and…
Nigerian politicians have, in the last few months, been preoccupied with arrangements to select flag bearers to represent their political parties in the 2023 general elections which are some three months away. As usual, rancorous party primaries tore the parties apart with governance placed on recess in both the executive and legislative arms of government. But not many Nigerians would have imagined that in the heat of political contestation, some legislators would successfully arrange to give themselves a jamboree outside the shores of the country in what is popularly known as study tours where huge sums of money are expended.…
The presidential candidate of the Peoples Democratic Party (PDP) in the 2022 general elections, Atiku Abubakar has assured that the party will bring all aggrieved members on board as the party seeks to reclaim power in 2023. Atiku stated this when he attended a wedding ceremony as well as opened a campaign office dedicated to his 2023 aspiration in Gombe on Saturday. According to him, the PDP will leave nothing to chance and will continue working assiduously towards regaining its lost glory. ASHENEWS gathered that the office complex and 10 campaign vehicles were donated to the Atiku/Okowa’s Presidential campaign Council…