Author: Editor
Naira Notes Scarcity: Crunch worsens, banks ration cash across the counter Naira Notes Scarcity: Crunch worsens, banks ration cash across the counter Fresh developments in the financial sector have shown that despite the Central Bank of Nigeria, CBN’s move to ameliorate the cash crunch situation by suspending charges for cash withdrawals above regulatory limits, scarcity of currency notes in the banks nationwide has continued to hit harder, even after the Yuletide season. Findings by Financial Vanguard revealed that banks across the country have continued to ration cash withdrawals in the banking halls and through their Automated Teller Machines (ATMs)…
The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to findings by The PUNCH. Data obtained from the FMDQ Securities Exchange revealed that the local currency fell from N745.19/$ on October 3, 2023, to N1035.12/$ as of January 3, 2024. While the naira depreciated from 471/dollar to about 700/dollar at the official market shortly after the announcement of the exchange rate unification policy of the CBN in June 2023, PUNCH findings showed the local currency had fallen further in…
You can marry today, she leaves tomorrow morning, will you die? You have to be alive to marry another one, is it not true? You buy global7000 and it crashes, will you die? You buy a new car and armed robbers take it on the road, will you die? You must have shock absorber. That is the only way you can survive. If you want to survive in life, you must have a shock absorber. President Tinubu told me when we were meeting that somebody told him not to trust me, he said NO. Politics and betrayal are the…
The Governor of Oyo State, Seyi Makinde, and other prominent dignitaries in Nigeria stormed the Atlantic City of Lagos on Sunday for the wedding ceremony of Chinedu Godwin Ikpeazu, the son of the former Governor of Abia state, Dr Okezie Victor Ikpeazu. Makinde, who was represented by his Deputy, Barrister Abdul-Raheem Adebayo Lawal, was in company of Commissioner for Education, Professor Soliu Abdulwaheed, Commissioner for Agriculture, Barrister Lasun Olasukanmi Olaleye and other Oyo top government functionaries. The event which attracted dignitaries from various states equally had in attendance former governor of Gombe state, Ibrahim Dankwambo, including wives of former…
The Nigeria Customs Service (NCS) at Muritala Muhammed International Airport (MMIA) disclosed on Friday that it intercepted combat-ready Unmanned Aerial Vehicles (UAVs), commonly known as drones, alongside military hardware. Speaking to reporters in his office regarding the command’s activities in 2023, the Customs Area Controller, Compt. Charles Orbih, also revealed that the command generated N30.5 billion in revenue between January and December 2023. Compt. Orbih said that in addition to the combat drone’s specifications—equipped with first aid box space, weapon storage, and capable of 70 hours of flight—another 154 drones were either seized or detained by the command. He…
The “marriage” between a four-year-old ‘bride’ and a 54-year-old man in a Bayelsa community is a traditional rite to save the child’s life, according to her parents. They claimed that the marriage, conducted in Akeddei community in Sagbama Local Government Area of Bayelsa, was a spiritual rite to ‘untie’ the duo who were betrothed in their “previous lives”. The News Agency of Nigeria (NAN) learnt that the girl’s parents, the 54-year-old man, a traditional ruler and others, who participated in the marriage, were summoned by Bayelsa Government following a public outcry. Parents of the ‘bride’ and three others on…
‘I Can’t Live Without Bible’ – Davido Famous Nigerian singer, David Adeleke, aka Davido, has revealed that Bible is one of the essentials he can’t live without. In a recent interview with British GQ, the ‘Unavailable’ crooner also mentioned popcorn, wallet, headphones, jewellery, sneakers, sunglasses, and toiletries bag as the other essentials he wouldn’t be able to survive without. He said he has a Bible app on his tablet, stressing that the app also contains hymns and prayers. On why popcorn is essential to him, Davido said he enjoys movies more with popcorn. He recalled that the first movie that…
The Economic and Financial Crimes Commission (EFCC) has summoned Dangote Group officials to Abuja for detailed documents on forex transactions spanning nine years. EFCC operatives stormed the group’s Lagos headquarters, probing alleged forex allocation abuse under ex-CBN Governor Godwin Emefiele. During its operation, it was gathered that the anti-graft agency took away some sensitive documents that may be helpful to its current investigation into the truth behind Emefiele’s abuse of power over forex allocation. However, not satisfied with the content of the documents confiscated, it decided to summon some of the top officials of the company to come along…
Sadio Mane has constructed a stadium in his village, Bambali in Senegal. He played football on the former mud pitch when he visited his village in 2022. He took it upon himself to transform it to a stadium. He has now built a stadium, £455,000 hospital, £250,000 school, fuel station and post office for his people.
•New regime expected to take effect April Against the backdrop of the promise made by President Bola Ahmed Tinubu in his New Year address that his administration will implement a “national living wage” this year, the Nigeria Labour Congress (NLC) has raised a team to negotiate with the government. The subsisting minimum wage, negotiated in 2018, expires in April 2024. Each agreed minimum wage has a five-year lifespan. Therefore, the lifespan of the current national minimum wage will soon be over. Tinubu had said in the address: “The economic aspirations and the material well-being of the poor, the…