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Presidency: N-Power beneficiaries can now get permanent jobs

"Under the plan, 200,000 beneficiaries will be engaged as financial services operators under a Shared Agent Network Expansion Facility (SANEF) scheme operated by the Central Bank of Nigeria; over 30,000 have already been engaged as geospatial experts and enumerators in the Economic Sustainability Plan’s Mass Agric programme, while several others will have the option of benefiting from the GEEP micro-enterprise loans," a statement details.

Nigerian government offers former N-Power beneficiaries exit strategies

Beneficiaries of the N-Power initiative who have concluded the two-year job programme will now be able to access permanent job opportunities or business prospects in line with the N-power exit strategy now activated by the Muhammadu Buhari administration.

Doyin Salami: Nigeria spent N1.85 trillion on food importation in 2020

The Nigerian government spent N1.85 trillion on food imports in 2020 after it closed the country’s land borders, the chairman of the presidential economic advisory council, Doyin Salami, has said.
Mr Bayo Olugbemi, President, Chartered Institute of Bankers of Nigeria (CIBN) says the banking sector in Nigeria has a good capital base to facilitate the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement.

CIBN boss optimistic banks will facilitate AfCFTA success

Mr Bayo Olugbemi, President, Chartered Institute of Bankers of Nigeria (CIBN) says the banking sector in Nigeria has a good capital base to facilitate the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

2021: Banks to walk a tightrope amid low revenue environment

Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian government to borrow unclaimed dividends, dormant accounts’ balances

Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to the trust fund.”

SMEDAN to float microfinance bank to ease lending to MSMEs

The Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Umar Dikko Radda, Thursday said efforts were ongoing by the agency to establish its own microfinance bank (MFB) to cater for financial needs of Micro Small and Medium Enterprises (MSMEs) in the country.

Honeywell drags Ecobank to Supreme Court over ‘N3.5 billion debt’

Honeywell Group on Monday indicated that it will approach the Supreme Court to challenge the judgment of the Court of Appeal against it in a N3.5 billion debt controversy.
Joseph Safra, one of the world’s richest bankers who built an empire spanning continents with over $85 billion in banking assets, has died. He was 82.

Brazil’s richest man passes on at 85

Joseph Safra, regarded as Brazil’s richest man, died on Thursday, at the age of 82, his company Safra Group announced.
FILE PHOTO: A man types on a computer keyboard in Warsaw in this February 28, 2013 illustration file picture. REUTERS/Kacper Pempel/Files

CIBN urges banks to strengthen cyber-security

The Chartered Institute of Bankers of Nigeria (CIBN) has urged the banks to strengthen their cyber-security architecture in order to prevent attacks by fraudsters.
4. President Muhammadu Buhari is currently presiding over the 24th virtual Federal Executive Council, FEC, meeting at the Council Chamber, Presidential Villa, Abuja.

NBA, NMA, 28 others demand overhaul of security apparatus

Thirty prominent professional bodies under the aegis of the Association of Professional Bodies of Nigeria (APBN) yesterday urged the federal government to immediately overhaul the country’s security apparatus, saying the situation had largely deteriorated in recent months.
Embattled President of African Development Bank (AfDB), Dr Akinwumi Adesina, has survived a second round of investigation into his conduct, giving him a boost in his re-election bid next month.

AfDB: Africa’s economy shrinks by 3.4% due to coronavirus pandemic

The President of African Development Bank, AfDB, Dr. Akinwumi Adesina, has said Africa’s economic growth this year will decline by 3.4%, because of the challenges of the Covid-19 pandemic.
The Federal High Court in Abuja, on Thursday, admitted 18 sets of exhibits the Economic and Financial Crimes Commission, EFCC, tendered in evidence against the former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina.

Money laundering: Court admits 18 exhibits in evidence against Abdulrasheed Maina

The Federal High Court in Abuja, on Thursday, admitted 18 sets of exhibits the Economic and Financial Crimes Commission, EFCC, tendered in evidence against the former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, who is facing a 12-count money laundering charge.
The Economic and Financial Crimes Commission (EFCC) said it does not want bail for a former Chairman of the Pension Reform Task Team, Abdulrasheed Maina, because he might escape.

Money laundering: Court admits 18 exhibits into evidence against Abdulrasheed Maina

The Federal High Court in Abuja, on Thursday, admitted 18 sets of exhibits the Economic and Financial Crimes Commission, EFCC, tendered in evidence against the former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, who is facing a 12-count money laundering charge.

Central bank chief projects exit from recession Q1 2021

The Governor of Central Bank, Mr Godwin Emefiele, on Friday expressed optimism that Nigeria could emerge from recession by the first quarter of 2021.

Nigerian government seeks new Eurobond

On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021.
The University of Benin Teaching Hospital (UBTH) yesterday commenced testing for COVID-19 following the validation of its testing centre by Nigeria Centre for Disease Control (NCDC).

Coronavirus test: Activist threatens court action against UBTH over alleged extortion, graft

A Benin-based human rights activist, Patriot Patrick Eholor, has threatened to sue the Management of the University of Benin Teaching Hospital (UBTH) over the alleged extortion and corrupt practices in regards to COVID-19 testing procedure .

How Abdulrasheed Maina, others stole N14 billion from pension account – witnes

The trial of former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, on money laundering charges continued in his absence on Wednesday, as a witness, Mrs. Rouquayya Ibrahim, narrated how he stole over N14billion from the federal pension account.

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A new variant of the coronavirus, which appears to be more transmissible, has been discovered in South Africa and is being blamed for a new surge in Covid-19 cases in the UK.

Twelve health workers test positive to coronavirus in Taraba

Twelve health workers comprising of three doctors and nine nurses have tested positive for COVID-19 at the Federal Medical Centre, Jalingo, the Taraba state capital.
The National Directorate of Employment (NDE) in Enugu State on Tuesday said it had trained no fewer than 510 unemployed graduates on different skills.

NDE chief: President Buhari determined to eradicate poverty

Director General of National Directorate of Employment, NDE, Mallam Abubakar Fikpo, has said the President Muhammadu Buhari’s led Federal Government was determined to eradicate poverty and unemployment in the country.
South African Minister in the Presidency, Jackson Mthembu, passed away on Thursday due to COVID-19 related complications, President Cyril Ramaphosa said.

South Africa minister dies of coronavirus

South African Minister in the Presidency, Jackson Mthembu, passed away on Thursday due to COVID-19 related complications, President Cyril Ramaphosa said.
General view of a cross session of lawyers in a court during a hearing of a blasphemy case in Kano, Nigeria January 21, 2021. REUTERS-Stringer

Nigerian appeals court throws out blasphemy convictions that caused outcry

The two had been convicted in August by a sharia court in Nigeria’s northern, mainly Muslim state of Kano. Teenager Omar Farouq was accused of making blasphemous comments during an argument, while Yahaya Aminu Sharif was accused of having shared a blasphemous message on WhatsApp.
FILE PHOTO - A man wearing a mask outside Guildhall in the city of London as the spread of the coronavirus disease (COVID-19) continues, London, Britain, April 14, 2020. REUTERS-John Sibley-File Photo

City of London to remove statues linked to slavery trade

The City of London on Thursday approved the removal from its ceremonial Guildhall home of statues of two figures that symbolise the financial sector’s historic role in slavery.