The Federal Executive Council (FEC) on Wednesday approved that three bills on electoral reforms as the 2019 elections draw nearer. They are the Constitution Alteration BIll, (2018); Electoral Act amendment BIll (2018); Electoral Offences Commission BIll (2018). The Attorney-General Of the Federation and Minister of Justice, Abubakar Malami, who briefed State House Correspondents at the end…
There is hope for a truce in the Central Bank of Nigeria (CBN)-MTN Nigeria face-off. Telecoms sector regulator Nigerian Communications Commission (NCC) is to broker peace between the two. The CBN has ordered the mobile giant to refund $8.1billion allegedly repatriated from the country. Besides, the Attorney General of the Federation has demanded the payment…
A Makurdi High Court presided over by Justice Theresa Igoche, yesterday, granted the interlocutory injunction restraining the impeached Speaker of Benue State House of Assembly, Mr. Terkimbi Ikyange, former Deputy Speaker, James Okefe, and former Majority Leader, Benjamin Adanyi, from parading themselves as principal officers of the Assembly, pending the determination of the substantive suit…
The National Pension Commission, PenCom, yesterday in Lagos, said its recovery agents had recovered a total of N14.76 billion from unwilling and recalcitrant employers who failed to remit deducted pension fund as at when due. PenCom explained that the entire amount comprising principal contribution of N7.53 billion and penalty of N7.23 billion, had been credited…
The Central Bank of Nigeria, CBN, said it has returned to N65 billion excess charges deducted from bank customers’ account in 7 years. Meanwhile, the Chartered Institute of Bankers of Nigeria (CIBN) has called on the Bank Customers Association of Nigeria (BCAN) to demand service charter from banks which would guide members of the public when…
The Central Bank of Nigeria (CBN) has boosted the operations of the inter-bank foreign exchange market with about $543.22 million and ¥63.21 million after two days interventions. The bank said in a statement sent to newsmen on Friday that the interventions on Thursday and Friday were in the wholesale as well as the Small and Medium…
Presidential Advisory Committee Against Corruption (PACAC) Chairman Prof Itse Sagay (SAN) yesterday said the Federal Government could fund next year’s general election by invoking the doctrine of necessity should the National Assembly fail to pass the budget. According to him, the overriding necessity of elections and survival of democracy supersede the National Assembly’s powers where…
The total loans granted by Nigerian banks to the private sector declined from N16 trillion in the first quarter of 2017 to N15.34 trillion in the second quarter of 2018, a difference of N600.60 billion. A report by the National Bureau of Statistics (NBS) on Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels…
The Economic and Financial Crimes Commission( EFCC) is set for the trial of Gbenga Makanjuola, deputy chief of staff to the Senate President Bukola Saraki and a former Managing Director of Societe Generale Bank of Nigeria( SGBN), Mr. Robert Mbonu. The duo are to be arraigned over the alleged conversion of N3.5billion of N19billion London-Paris…
Following calls for the government to simplify the process of homeownership, more states are taking steps to reform mortgage and land administration. To make access to land, housing and mortgage less cumbersome for their indigenes, about 13 states are expected to adopt the Model Mortgage and Foreclosure Law (MMFL) between now and the first quarter…