- FEC approves N9 billion life assurance for workers
- Member of SDP accuses FG following the rise of kidnappings in Nigeria
- Former minister arrested by EFCC over alleged N3.6 billion loan fraud
- CBN combats infractions of forex with sanctions
- FG student loan website set to launch before Jan 31st
Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.
FEC approves N9 billion life assurance for workers
President Bola Ahmed Tinubu has endorsed the payment of renewal fees for the Group Life Assurance for workers.
The weekly FEC meeting held every Wednesday yielded good fruits as the Minister of Information and National Orientation, Mohammed Idris, revealed that the president supported Group Life Assurance.
The president endorsed N9.6 billion for 12 domestic firms to cover federal workers in the case of unexpected danger and life-threatening situations.
Member of SDP accuses FG following the rise of kidnappings in Nigeria
The presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has pointed his fingers at the federal government, advising that the nation “bemoans and suspects” them.
According to Adewole, if the president and the National Security Adviser (NSA), Nuhu Ribadu, the Nigerian Police Force (NPF), and the Department of State Security (DSS) were interested in putting an end to kidnappings, they would as they have all it takes.
“As we bemoan and dread bandits and kidnappers, we must bemoan and suspect our government more. The government must stop criminality. If @officialABAT @NuhuRibadu @PoliceNG @OfficialDSSNG want to end kidnapping today, they have all it takes. Government is in on it.” he said.
Former minister arrested by EFCC over alleged N3.6 billion loan fraud
The Economic Financial Crimes Commission (EFCC) authorities have captured and arrested a former minister of commerce and industry, Charles Chukwuemeka Ugwuh, for his role in the N3.6 billion loan fraud.
The EFCC shared a statement on X, revealing that Ugwuh was arrested with Chief Geoffery Ekenma in Imo State on January 11.
“Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice,” the statement reads.
“However, the suspect, according to the petitioner, failed to meet his obligations to the bank, and all efforts to get him to repay the loan facility proved abortive. The suspects would be charged to court as soon as investigations are concluded.”
CBN combats infractions of forex with sanctions
The Central Bank of Nigeria stated that it had uncovered multiple infractions, noncompliance and gross foreign exchange abuses.
The CBN pledged to punish these offenders responsible for the abuses in partnership with necessary agencies.
“The CBN is resolved to sanitise the financial services sector and foster trust among all market participants, as well as internal and external stakeholders, in the Nigerian economy. Nevertheless, the CBN will continue to settle the legitimate foreign exchange backlog as it has consistently been doing in the last three months.”
FG student loan website set to launch before Jan 31st
The federal government has announced that it is working tirelessly to launch the student loan website before the end of January 2024 so students in need can use it.
“January is a reality. Already, the website is almost done. Application for beneficiaries is going to be online…and you can access your loan within 30 days,” said the Minister of State for Education, Dr Yusuf Sununu.
The president created the student loan initiative to curb the incessant number of strikes within the educational sector.
Ayomitide Adeyinka is a content writer, crypto journalist and editor with a Bsc in Political Science. He is also an egalitarian.