Naira

NDLEA recovers billion naira worth of drugs in nationwide raids

4 months ago2619 min

The National Drug Law Enforcement Agency has announced the recovery of a multi-billion naira worth of cocaine concealed in heavy-duty automobile pivot shafts, and Ghanaian fabric, Kente, by its operatives in a nationwide intelligence-led operation. PUNCH Metro learnt in a statement released on Sunday by the Director, Media & Advocacy, Femi Babafemi, that the NDLEA intercepted and seized 12.814kg of cocaine in two shipments at a courier firm in Lagos, 10kg of Loud (synthetic cannabis)...

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Latest News

Workers nabbed as fire guts multibillion naira LG warehouse

4 months ago969 min

Some staff members of the global electronics maker, LG Electronics, at Abule Osun, Trade Fair, Lagos State were apprehended for allegedly stealing some foreign currencies belonging to their employers after a fire engulfed the store in the early hours of Sunday. Goods worth billions of naira were destroyed in the incident that started some minutes past midnight. The Lagos State Emergency Management Agency in a statement through its Head of Public Affairs Unit, Nosa Okunbor,...

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Latest News

Bobrisky campaigns against naira abuse on release from prison

5 months ago805 min

Controversial crossdresser, Idris Okuneye, popularly known as Bobrisky, has on his release from the Kirikiri Correctional Centre, on Monday, urged his fans to respect the law and avoid spraying money at parties. Bobrisky was released after spending six months in incarceration for abusing the naira after spraying it at an event. In an interview with GoldMyneTV after his release, Bobrisky said, “Follow the rules, abide by the law. Don’t spray money, unless you’ll be a...

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Latest News

BREAKING: President Tinubu Orders Petroleum Company, NNPC To Sell Crude To Dangote Refinery In Naira

5 months ago884 min

This was announced by the Special Adviser to the President on Information and Publicity, Bayo Onanuga on X, explaining the order is aimed at achieving stability of the pump price of refined fuel and the dollar-Naira exchange rate. President Bola Tinubu has given an executive order to the Nigerian National Petroleum Company Limited (NNPCL) to sell crude to Dangote Refinery and other upcoming indigenous refineries in Naira, the country’s currency. This was...

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Metro

Court jails Akwa Ibom man for spraying naira notes

5 months ago823 min

The Akwa Ibom Zonal Command of the Economic and Financial Crimes Commission has secured the conviction and sentencing of one Etiusen Stephen for spraying naira notes before Justice M.A.Oyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State. This was disclosed in a statement posted on X.com on Wednesday. Stephen was arraigned on July 19, 2024, on a two-count charge of naira abuse, which violates Section 21 of the Central Bank of Nigeria...

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Metro

EFCC arrests Kano banker, three others for mutilating naira notes

5 months ago904 min

Operatives of the Economic and Financial Crimes Commission have arrested a banker, Kamaluddeen Lawal, and three businessmen for recycling and manipulating the contents of the naira notes. Lawal was arrested alongside Ismail Ilu, Lamido Bala and Abba Mohammed at Unity Road, Kantin Kwari Market in Kano State. A statement on Tuesday by the EFCC’s Head, Media and Publicity, Dele Oyewale, said the suspects were arrested following an intelligence on their activities. He said, “Operatives of...

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BREAKING: Nigerian High Court Dismisses Suit Challenging Arabic Inscriptions On Naira Notes

5 months ago825 min

Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, on Tuesday, dismissed a case brought by Chief Malcolm Emokiniovo Omirhobo challenging the inclusion of Arabic inscriptions on Nigerian currency – naira. Citing the precedent set in Chief Gani Fawehinmi vs. Akilu (1998) 2NWLR (Part 102), 122 at 169, Justice Bogoro ruled that while Omirhobo has the standing to bring the action, he failed to provide sufficient evidence that the Central Bank of...

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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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Naira Abuse: Socialite, Cubana Chief Priest Arrives Lagos Court For Arraignment

8 months ago902 min

He was alleged to have sprayed the Naira on February 13, 2024, at Eko Hotel. A businessman and socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest has arrived at the Federal High Court, Lagos State, for arraignment for allegedly abusing the naira. Cubana Chief Priest, who is already inside the dock, is being arraigned before Justice Kehinde Ogundare on three counts bordering on abuse of naira for allegedly spraying and tampering with the nation’s...

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News

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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