CBN, FAAN Relocation: Your Threat Against Tinubu Is Demeaning – Okupe Knocks Ndume
Former presidential aide, Doyin Okupe, has slammed the Chief Whip of the Senate, Ali Ndume, over his statement on the relocation of certain departments of the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos. Recall that Ndume had stated that the president is being ill-advised and the relocation would result in political consequences. However, reacting to Ndume’s submission in an open letter titled: RE: Movement of some parastatals to Lagos by the Federal Government, on Wednesday, Okupe insisted that the senator’s position was “provocative” and “unexpected” He insisted that
CBN, NBET , Others Indebted to N190bn For Electricity Supply
Federal Government owned power firm, the Niger Delta Power Holding Company has said that the Central Bank of Nigeria, the Nigerian Bulk Electricity Trading Plc, and the Nigerian Electricity Liability Management Company owe the sum of N190bn for electricity supply. Managing Director and Chief Executive Officer, NDPHC, Chiedu Ugbo, revealed this to The PUNCH on the sideline of a media briefing in Lagos on Monday. According to him; the estimate was arrived at as a result of debts owed for electricity supply to the tune of N190 billion from 2015 till date. The N190 billion debt, he said
Naira gains marginally against dollar at parallel market
The Naira on Thursday gained marginally to the dollar at the parallel market in Lagos, exchanging at N358.5 to the dollar. The Pound Sterling and the Euro closed at N462 and N407, respectively. At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar while the Pound Sterling and the Euro traded at N463 and N407, respectively. Trading at the investors’ window saw the naira closing at N361.62 to the dollar as market turnover stood at 279.72 million dollars. The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (NAN) has continued
$2b Bank Fraud: FG Probes 2 Serving Ministers, Ex-CBN Gov
* 65,000 lose shares to phoney offshore entities * Probe follows last month’s petition to AGF by aggrieved shareholders The Federal Government has launched a probe into how a former Central Bank Governor connived with two serving ministers in the present administration to rip off no fewer than 65,000 Nigerians through official manipulation and transfer of their shares to foreign entities for pecuniary reasons. The probe was triggered by a strong petition filed by shareholders, whose shares were inexplicably reduced by the key government agencies and officials and awarded to the foreign entities apparently fronting for them. Before now, allegations
unemployment rate threatens economy, says Emefiele
Expresses fear that Nigeria may slide into another round of economic crisis if The high unemployment rate in the country may push the economy into crisis, the governor of Central Bank of Nigeria (CBN) Godwin Emefiele has warned. Emefiele, who delivered a lecture yesterday at the University of Benin, expressed fear that Nigeria may slide into another round of economic crisis if measures are not taken to tackle the high rate of unemployment. In a lecture entitled, “Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty”, the CBN governor said the world’s economy was going through some uncertainties and
Economy May Experience Another Recession, CBN Warns
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat. The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters. According to Punch Report, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness. He stated this after addressing journalists shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank. The CBN governor said the committee was concerned that there was a fresh
