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CBN gives incentives to importers using Chinese Yuan

The Central Bank of Nigeria (CBN), has come up with fresh incentives for importers as it seeks to replace the use of Dollars with the Yuan as the currency of importation from China. It has also assured Nigerians that it has enough arsenals to defend the Naira.

FirstBank introduces contactless Naira MasterCard

First Bank of Nigeria Limited, has announced the introduction of the Contactless Naira MasterCard, added to its array of debit cards, to promote convenience, ease of transactions and the security of funds.

Experts: MPR retention in line with expectations

Mr Sewa Wusu, Head of Research and Investment Advisory at SCM Capital Ltd., said the Monetary Policy Committee (MPC) retention of all monetary variables at current levels was expected.

2018: Nine banks to meet new central bank dividend payout policy – report

The SBG Securities (Pty) Limited of South Africa, a wholly owned subsidiary of the Standard Bank Group, has projected that about nine commercial banks in Nigeria would be able to pay dividends this year, despite the adjustment to the dividend payout policy issued by the Central Bank of Nigeria (CBN) recently.

Ex-President Jonathan’s ex-campaign chief Ngozi Olojeme forfeits 38 houses

The Economic and Financial Crimes Commission (EFCC) has traced 38 choice houses to a former Chairman of the Nigerian Social Insurance Trust Fund (NSITF), Dr. Ngozi Olojeme.

EFCC arrests finance chief of ex-President Jonathan’s campaign over alleged N69 billion fraud

The Economic and Financial Crimes Commission has arrested Dr. Ngozi Olojeme, the Deputy Chairman, Finance Committee of the Goodluck Jonathan Campaign Organisation in the 2015 presidential election.

Civil servant bags 35 years in jail over N2.5m fraud

A civil servant with Benin Owena River Basin Development Authority (BORBDA), Mr. Monday Isiorh Okoh, has been sentenced to 35 years in jail for mismanaging the agency’s N2.5 million.

Pensioners seek direct pay from allocations to indebted states

A suit has been filed asking the ECOWAS Court of Justice to “order the government of President Buhari to deduct the pensions, salaries and gratuities of pensioners and workers from the statutory allocations of indebted state governments and pay the same directly to the pensioners and workers on a monthly basis”.

SERAP, pensioners drag federal govt to ECOWAS Court over unpaid pensions, salaries

They want immediate payment of all outstanding pensions, salaries and gratuities through deductions from statutory allocations of the indebted state governments, and payment of adequate money compensation of N50 million to each of the pensioners and workers.

Banks begin compilation of accounts without BVN

Deposit Money Banks on Friday began compilation of customers’ accounts without Bank Verification Numbers.

EFCC probes Governor Ayodele Fayose over alleged diversion of bailout funds

The Economic and Financial Crimes Commission (EFCC) is investigating the Ayodele Fayose government in Ekiti for alleged diversion of over N680million meant for salaries and pension of civil servants .

N3.2bn Benue councils funds diverted in 3 years – FG

The Federal Government has revealed how five officials allegedly diverted the sum of about N3.2bn belonging to the Association of Local Governments of Nigeria in Benue State within 71 months.

Court jails property agent for absconding with N1.6m

A Karmo Grade 1 Area Court, Abuja, on Thursday sentenced one Ibrahim Ahmed, a house agent, to 16 months imprisonment for absconding with a prospective tenant’s N1,650,000.

Zenith Bank provides for 30% of 9mobile’s loan

Zenith Bank says it has made a provision on 30 percent of its loan to 9mobile, telecommunications company formerly known as Etisalat.

Court orders permanent forfeiture of Diezani’s $37.5m mansion to fed govt

The Federal High Court in Lagos has ordered that a $37.5m mansion on Banana Island, Lagos linked to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, be permanently forfeited to the Federal Government.

Nigerian banks want to reposition 9mobile before sale – FBN

First Bank of Nigeria (FBN) says the Nigerian Banks who took over 9mobile — formerly known as Etisalat Nigeria — are stabilising the telecommunication company before looking for new investors to buy into the company.

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Charge D’Affaires of Ecuador to Nigeria, Mr. Jaime Campas

Ecuadorian embassy refutes visa-free agreement news

The Embassy of Ecuador refutes fake news published by several media houses over Ecuador and Nigeria signing a visa-free agreement for Nigerian citizens.

Ex-CIBN chief blames National Assembly for tampering with 2018 Budget

Prof. Olusegun Ajibola, immediate past president, Chartered Institute of Bankers of Nigeria (CIBN), on Thursday criticised the National Assembly for tampering with provisions for critical projects in the 2018 budget.
President of Turkey and the leader of the Justice and Development Party (AK Party) Recep Tayyip Erdogan makes a speech during the AK Party's parliamentary group meeting at the Grand National Assembly of Turkey (TBMM) in Ankara on May 8, 2018. | AFP PHOTO | ADEM ALTAN

Recep Erdogan poll rival vows change in giant Izmir rally

The chief rival to President Recep Tayyip Erdogan in this weekend's presidential polls on Thursday vowed to transform Turkey as he rallied hundreds of thousands of people in one of the biggest opposition election rallies in years.
President Buhari at the IPI Conference in Abuja on Thursday

President Buhari urges journalists confront fake news menace

President Muhammadu Buhari on Thursday declared open the 2018 International Press Institute World Congress with a call on journalists worldwide to address the menace of fake news and hate speech for the good of humanity.
Kayode Fayemi

Kayode Fayemi: I increased teachers’ pay when I was governor but Ayodele Fayose is...

The candidate of the All Progressives Congress (APC) in the July 14 governorship election in Ekiti state, Kayode Fayemi, says he increased teachers’ salaries when he was in power but Ayodele Fayose, his successor, has not paid them in 10 months.