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BREAKING: Nigeria’s Central Bank Approves Unity Bank, Providus Bank Merger
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BREAKING: Nigeria’s Central Bank Approves Unity Bank, Providus Bank Merger

5 months ago963 min

A statement by the CBN Acting Director, Corportae Communications, Mrs Sidi Ali Hakama on Tuesday, said, “This strategic move is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. The Central Bank of Nigeria (CBN) has granted approval for a financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. A statement by the CBN Acting Director, Corportae Communications, Mrs Sidi Ali Hakama on Tuesday,...

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by Probitas
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Central Bank Of Nigeria Sells $148million At N1470/$1 To Authorised Dealers

5 months ago6163 min

The transactions took place between Monday and Tuesday to provide necessary liquidity to the FX market. The Central Bank of Nigeria (CBN) has announced the sale of $148 million to authorised dealers in the Nigerian Foreign Exchange Market (NFEM).    The transactions took place between Monday and Tuesday to provide necessary liquidity to the FX market.   According to a statement by Mrs. Hakama Sidi-Ali, acting Director of the Corporate Communications Department, the CBN sold...

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by Probitas
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Media Group, JODER Demands Judicial Probe Of Alleged Corruption In NNPC, World Bank Operations In Nigeria

5 months ago936 min

A pro-democracy group, the Journalists for Democratic Rights, (JODER) has asked President Bola Tinubu to immediately set up an independent Judicial Panel of Enquiry to probe the allegations of high level corruption in the Nigerian National Petroleum Corporation Ltd, (NNPC) and the World Bank operations in Nigeria.  The Minister for Women Affairs, Uju Kennedy-Ohanenye had revealed that Nigerian World Bank officials take 40% from all loans obtained by Nigeria.  She had also revealed that some...

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by Probitas
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Depleting External Reserve Not Due To Defending Naira But For Debt Repayment, Says Nigeria’s Central Bank

8 months ago1116 min

The Governor of the Central Bank of Nigeria Olayemi Cardoso says the naira’s recent sharp rise is a positive verdict on policy action to curb inflation, not because the authorities have been intervening in its support. A Bloomberg report this week said Nigeria was burning through its foreign exchange reserves at a rate not seen in four years, raising concerns that the central bank was depleting its dollar holdings to support the naira after pledging...

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by Probitas
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Nigeria’s EFCC Uncovers Fraud In Management Of Recovered Abacha Loot, COVID-19 Funds, World Bank Loan By Humanitarian Ministry

8 months ago1013 min

Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission, (EFCC) says it has uncovered other fraudulent dealings involving COVID-19 funds, the World Bank loan, and recovered funds looted by the late dictator, Sani Abacha. EFCC said the funds were released to the Ministry of Humanitarian Affairs, Disaster Management and Social Development by the Federal Government to execute its poverty alleviation mandate.  The anti-graft agency said this in a statement released on Sunday, signed by its...

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by Probitas
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Central Bank Of Nigeria Staff Tells Court How Ex-Governor Emefiele Directed Him To Collect $3Million Cash In Tranches

9 months ago1048 min

A Central Bank of Nigeria (CBN) Staff, Mr Monday Osazuwa, has narrated to an Ikeja Special Offences Court how the former Governor of the apex bank, Godwin Emefiele, on different occasions, directed him to collect the sum of $3 million cash in tranches.   Osasuwa, while being led in evidence by the Economic and Financial Crimes Commission (EFCC) Counsel, Rotimi Oyedepo (SAN) on Friday said that he was a dispatch rider in Zenith Bank since...

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BREAKING: Lagos High Court Grants Former Central Bank Governor, Emefiele N50Million Bail

9 months ago1043 min

The Economic and Financial Crimes Commission (EFCC) has released details of 18 out of the 26 fresh multi-million-dollar and naira corruption charges preferred against Emefiele.     A high court sitting in Ikeja, Lagos, has granted bail to the former governor of the Central Bank of Nigeria, Godwin Emefiele, in the sum of N50 million. The Economic and Financial Crimes Commission (EFCC) has released details of 18 out of the 26 fresh multi-million-dollar and naira...

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EFCC Releases Details Of 18 Of 26 Fresh Multi-Million-Dollar, Naira Corruption Charges Against Former Nigerian Central Bank Governor, Emefiele

9 months ago965 min

The Economic and Financial Crimes Commission (EFCC) has released details of 18 out of the 26 fresh multi-million-dollar and naira corruption charges preferred against the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.   Emefiele who is presently in the custody of the EFCC and Henry Isioma Omoile, were arraigned at the Special Offences Court sitting in Ikeja, Lagos, on Monday by the EFCC on 26 fresh counts.   SaharaReporters has...

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BREAKING: Court Adjourns Ruling On Former Nigerian Central Bank Gov, Emefiele’s Bail Application To April 11

9 months ago913 min

    The Lagos State High Court sitting in Ikeja on Monday adjourned the ruling on the bail application filed by the former Central Bank of Nigeria Governor, Godwin Emefiele. SaharaReporters had reported how Emefiele arrived at the court for his arraignment earlier on Monday morning over alleged abuse of office. Emefiele was arraigned along with his co-defendant, Henry Isioma Omole, on 26 counts before Justice Rahman Oshodi. The former governor of the apex bank...

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