Follow the links to read the stories and analyses on YNaija: BREAKING: Jimi Agbaje emerges as Lagos PDP guber candidate World Teachers Day: Is there anything for the Nigerian Teacher to celebrate?
The descent of Nigeria’s economy into poverty has been a recurrent matter of regular discussions and debates, particularly in the last three years. Expectedly so, since the regress has taken effective toll on all of the country’s spheres and become a matter of serious concern for its citizens and friends, locally and internationally. The economic... Read More
Here are the major stories you should be monitoring today: President Muhammadu Buhari has expressed his administration’s commitment to the protection of children, in a message to mark the Children’s Day, celebrated on May 27. “In our efforts to protect our children from abuse, exploitation and trafficking as well as provide safe, non-violent inclusive and... Read More
The Central Bank of Nigeria (CBN) has denied allegations that it diverted $5bn from the federation account. Background: A member of the House of Representatives, Ayo Omidiran had raised the issue during plenary. She said the CBN took advantage of being the custodian of the account to “manipulate the system by opening various accounts not known... Read More
A Federal High Court in Abuja has granted a temporary forfeiture order on bank accounts owners who are yet to have a Bank Verification Number (BVN) unless they can justify their ownership of such accounts. It also restrained commercial banks from operating such accounts for the meantime and directed them to disclose the owners of... Read More
760 – The number of suspected Boko Haram insurgents that have been handed over by the Nigerian Army to the Borno state government for rehabilitation and reintegration into the society. 400,000 – According to the Minister of Information and Culture, Lai Mohammed, the Federal Government has received this number of messages from whistleblowers on looted... Read More
Vice President Yemi Osinbajo has dismissed reports that the Central Bank of Nigeria (CBN) is printing money to support the Federal Government. Background: CBN “claims” on the federal government have reportedly gone from N678 billion in December 2013 to N6.5 trillion in April 2017. Doyin Salami, PhD, a member of the monetary policy committee (MPC) of... Read More
President Muhammadu Buhari has appointed Mrs. Aishah Ahmad, as Deputy Governor of the Central Bank of Nigeria. This was disclosed in a statement on Thursday by the Special Adviser on Media and Publicity, Mr. Femi Adesina. According to the statement, the President had presented Ahmad to the Senate for confirmation. Adesina said Ahmad would replace... Read More
The Central Bank of Nigeria (CBN) said it has recovered over N50 billion as excessive charges imposed on customers by banks so far. CBN spokesperson, Isaac Okorafor, said this at the ongoing Abuja International Trade fair. He said the apex bank was ensuring that bank customers are not overburdened by irrelevant charges. He said that... Read More
A Twitter user and regular public commentator @ogbenidipo has cried out in reaction to the level of nepotism in the Muhammadu Buhari-led Government. In his tweets, he highlighted that the CBN, DSS, FIRS and other government agencies, in their recruitment process, only favour ‘family and friends’, therefore contravening the federal character. https://twitter.com/OgbeniDipo/status/895024593446068228 https://twitter.com/OgbeniDipo/status/895025092681486336 https://twitter.com/OgbeniDipo/status/895025509654040576 Another... Read More
The Central Bank of Nigeria (CBN) on Tuesday left the Monetary Policy Rate unchanged at 14 per cent. CBN governor, Godwin Emefiele announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja. Emefiele said six members of the Monetary Policy Committee agreed to maintain the current monetary... Read More
The Central Bank of Nigeria on Friday dismissed claims by the Senate that it is selling dollars to some businesses at an unofficial rate of N200. The Senate on Wednesday had asked the Federal Government to direct the CBN to supply dollars at N200 to intending pilgrims. This followed a motion by the former governor... Read More
1.2 million – The National Examination Council (NECO) said out of the 7,410,030 candidates that sat for the Senior School Certificate Examination between 2010 and 2016, a total of 1,283,485 committed examination malpractice. $793.2 million – A Federal High Court in Lagos ordered seven commercial banks to remit a total of this amount allegedly kept illegally... Read More
The Central Bank of Nigeria (CBN) and the Nigeria Communications Commission (NCC) have moved to intervene in the takeover of Etisalat Nigeria over a US$1.2 billion debt. A consortium of banks had taken over the management of Etisalat Nigeria over a syndicated loan of about US$1.2 billion granted the telecom company. Spokesperson of the CBN,... Read More
The Senate on Tuesday asked the Central Bank of Nigeria to recover monies collected by banks on behalf of Nigeria Customs Service but unremitted within seven days. The order was given by the Committee on Customs, Excise and Tariff at an investigative meeting with the CBN, Ministry of Finance, Federal Inland Revenue Service, Corporate Affairs... Read More
A Federal High Court sitting in Abuja, on Thursday, took as evidence, N35 million and foreign currencies that the DSS, allegedly recovered from the home of Justice Sylvester Ngwuta. John Otaze, a member of the investigative team that raided Justice Ngwuta’s home on October 8 2016, brought to court the monies in nine bags and... Read More
The Nigerian Senate has, on Tuesday, asked the Central Bank of Nigeria (CBN) to convert lower naira notes into coins in order to accommodate repetitive transactions in the country. Mustapha Bukar (Katsina South senatorial district, APC), who moved the motion said according to the CBN, there are eight naira notes and three coins, most of which are... Read More
by Azeez Adeniyi Former governor of Central Bank of Nigeria, Charles Soludo on Thursday said Nigeria went into recession because of poor ideas by the Federal Government’s policy makers. Soludo said this in a paper he delivered at the 2017 International Conference of the Department of Business Administration of the Nnamdi Azikiwe University, Awka, Anambra... Read More
From the papers this morning – a Tracklist. 41 items still ineligible for forex – CBN – YNaija ‘Troops kill Boko Haram members, foil attack on Maiduguri’ – YNaija Buhari will fulfil his campaign promises – Osinbajo – YNaija Buhari will go on another medical vacation – Media aide – YNaija N200bn unpaid salaries: Federal... Read More
These are the top five stories you should monitor today. ‘TROOPS KILL BOKO HARAM MEMBERS, FOIL ATTACK ON MAIDUGURI’ Troops of the Nigerian Army on Thursday clashed with some Boko Haram insurgents trying to invade Maiduguri through Aloa Dam Village. 2. BUHARI WILL FULFIL HIS CAMPAIGN PROMISES – OSINBAJO Vice President Yemi Osinbajo has said... Read More
by Azeez Adeniyi The Central Bank of Nigeria (CBN) has said 41 items still remain ineligible for forex, despite its new policy which lifted a ban on items not eligible for forex. In a circular issued on Wednesday, the CBN said “importers of items classified as not valid for forex with transactions value of $20,000... Read More
by Azeez Adeniyi Governor of the Central Bank of Nigeria, Godwin Emefiele on Thursday said the current stability in the foreign exchange market excited President Muhammadu Buhari. Emefiele told this to State House correspondents after briefing the President of the activities of the apex bank in his office at the Presidential Villa, Abuja. He told... Read More
The Central Bank of Nigeria (CBN) has barred at least 12 deposit money banks (DMB) from the SMEs window of foreign exchange market for flouting regulations, TheCable reports. Isaac Okorafor, the CBN spokesman said only eight banks had sold forex to the SMEs. Okorafor said the banks were barred for refusing to sell forex to... Read More
by Dolapo Adelana In its bid to unravel the truth concerning allegations against the suspended Director-General of the National Intelligence Agency, Ambassador Ayo Oke; and the suspended Secretary to the Government of the Federation, Babachir Lawal, the committee set up by President Muhammadu Buhari to investigate the allegations queried the Governor of Central Bank of Nigeria,... Read More
These are the top five stories you should monitor today. Stop bailout to states owing salaries, Senate tells FG The Senate on Thursday urged the Federal Government to suspend payment of bailout funds to states still owing salaries. 2. Amaechi had issues with Patience, not me – Jonathan Former President Goodluck Jonathan has said he has... Read More
From the papers this morning – a tracklist. Stop bailout to states owing salaries, Senate tells FG – YNaija Amaechi had issues with Patience, not me – Jonathan – YNaija Jonathan never showed commitment to fight against insurgency – Shettima – YNaija We have enough forex for end users, bank customers – CBN – YNaija... Read More
The Bankers Committee of the Central Bank on Thursday declared that there was adequate stock of foreign exchange to sustain the spate of dollar sales to various segments of forex market. The apex bank said it has enough to meet demanded of all genuine bank customers in the country. The Director, Banking Supervision, CBN, Ahmed... Read More
by Azeez Adeniyi Governor of the Central Bank of Nigeria, Godwin Emefiele, has said Nigeria will be out of recession by the third quarter of this year. The CBN governor said this after meeting with the leadership of the Senate in Abuja on Tuesday. Emefiele said efforts by the Federal Government has shown that the... Read More
Former governor of the Central Bank of Nigeria (CBN), Charles Soludo has called on the Federal Government to scrap the multiple exchange rates in the country. Soludo, who was the Chairman of the Economic Discourse organised by the Institute of Chartered Accountants of Nigeria, spoke in Lagos while fielding questions from journalists shortly after the... Read More
N200 million – On Thursday, the National Agency for Food and Drugs Administration and Control (NAFDAC) revealed it discovered this amount worth of fake and unregistered products in Ogun and Anambra states. $5 million – Canadian-based model, Stephanie Otobo has filed a lawsuit worth this amount against General Overseer of Omega Fire Ministries, Apostle Johnson Suleman,... Read More
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