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Top 5 Stories Of The Day | CBN Sanctions Nine Banks Over Cash Hoard

Top 5 Stories Of The Day | CBN Sanctions Nine Banks Over Cash Hoard
  • CBN sanctions nine banks over cash hoard
  • Ooni’s ex-wife and others freed after 21-day detainment
  • Underprivileged Abuja residents slam Wike with ₦500m lawsuit
  • Adekaiyaoja becomes the first female DG of DSS
  • Tinubu pledges to work on curbing insecurity in the country

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

CBN sanctions nine banks over cash hoard

The Central Bank of Nigeria (CBN) slammed a sanction on nine Deposit Money Banks (DMBs), demanding that each of the banks pay ₦150 million as a fine for non-compliance with the apex bank’s cash distribution guidelines, following spot checks carried out at their branches.

The sanctioned banks are Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

The CBN also revealed that there was an ongoing investigation into cash hoarding and rationing by bank branches and Point-of-Sale (PoS) operators.

Ooni’s ex-wife and others freed after 21-day detainment

Top 5 Stories Of The Day | CBN Sanctions Nine Banks Over Cash Hoard

Naomi Silekunola, the ex-queen of the Ooni of Ife, Oriyomi Hamzat, the owner of Agidigbo FM in Ibadan, and Abdulahi Fasasi, the Principal of Islamic High School in Bashorun, were released from the Agodi Correctional Centre on Tuesday, January 14. They had been detained for 21 days due to the tragic death of 35 children during a stampede in Ibadan.

On Monday, Justice K. B. Olawoyin of the Oyo State High Court in Ibadan granted bail to the defendants, setting the amount at ₦10 million each, with two sureties required for the same sum.

The defendants were facing 18 charges related to murder and manslaughter brought against them by the Oyo State Government in connection with the tragedy that occurred on December 18.

Underprivileged Abuja residents slam Wike with ₦500m lawsuit

Several underprivileged residents of FCT, including scavengers, beggars, and petty traders, have filed a lawsuit against Minister Nyesom Wike, seeking ₦500 million in damages for an alleged violation of their fundamental rights.

A legal practitioner, Abba Hikima, filed the suit before Justice James Omotosho of a Federal High Court in Abuja on behalf of the residents.

Hikima, recognising himself as the applicant, stated his desires from the court upon filing the suit; he hoped the court would award the ₦500 million to the vulnerable.

“An order mandating the respondents to set in motion and implement immediate policies and reforms, including public education for the realisation of the fundamental human rights of vulnerable Nigerians residing in Nigeria,” he said.

Adekaiyaoja becomes the first female DG of DSS

Top 5 Stories Of The Day | CBN Sanctions Nine Banks Over Cash Hoard

President Bola Tinubu has appointed Folashade Adekaiyaoja as the deputy director-general of the Department of State Services (DSS), making her the first female DG in Nigeria.

In December 2024, President Tinubu directed security agencies to suggest ways to enhance service delivery, and Adekaiyaoja’s appointment is a significant step in this effort.

Tinubu pledges to work on curbing insecurity in the country

President Bola Ahmed Tinubu has assured Nigerians of his administration’s commitment to eliminating terrorism and protecting lives and property.

The President stated that the welfare of security personnel will not be compromised as they strengthen their efforts against banditry and all forms of violence.

Represented by House of Representatives Deputy Speaker Benjamin Kalu, the President promised that his commitment to ensuring security agencies are equipped to tackle insecurity effectively would not waver.

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