THE Central Bank of Nigeria is set to transfer some of its departments to Lagos State. This was stated in an Internal memo made available to this newspaper. The move, according to an official of the CBN who spoke on condition of anonymity, is to decongest the apex bank’s head office. Although some staff members of the bank have reportedly resisted the transfer and claimed that it is motivated by tribal sentiment, the source said it is for their safety and increased productivity. “What is happening now at the CBN is likened to a company with over 500 staff and…
Author: Maryam Garba
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PRESIDENT Bola Tinubu has started the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee with the dissolution of the board and management of Titan Trust Bank and three others. News Point Nigeria gathered that the others are Union Bank, Polaris Bank, and Keystone Bank. The boards of directors and chief executives of the banks were invited to a meeting on Wednesday, January 10 where they were addressed for 30 minutes each by the apex bank’s Deputy Governor in charge of Financial System Stability, Phillip Ikeazor. Three other governors formed…
THE Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has ratified the agreement between the government of Nigeria and Saudi Arabia for the 2024 Hajj operations; the signing took place Sunday in Jeddah, Saudi Arabia. Tuggar, in a bilateral meeting with the Saudi Arabian Minister of Hajj and Umrah Dr Taofiq bin Fawzan AlRabiah, also affirmed that the 2024 Hajj Operations will be guided by a new culture of precision that will ensure that pre-Hajj, Hajj and Umrah activities are carried out on time. The bilateral meeting also touched on the areas of airlifting pilgrims, Nigerian government-endorsed airlines, Hajj accommodations,…
THE Nigerian National Petroleum Company (NNPC) Limited has denied that it had a dispute with independent petrol marketers over an alleged subsidy on Premium Motor Spirit (PMS). There were reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria clashed with the NNPC over whether the government was still paying subsidy. However, in a terse statement sent to News Point Nigeria on Wednesday, NNPC spokesman, Olufemi Soneye, said subsidy has been entirely removed on petrol. “NNPC Ltd emphasises it has not clashed with any party,” Soneye said, adding that the publication’s headline (not News Point…
THE National Drug Law Enforcement Agency says it has intercepted a Qatar-based businessman, Agu Amobi, and one other, Uchegbu Obi, with consignments of psychoactive substances at the Murtala Muhammed International Airport, Ikeja Lagos. This was contained in a statement by the Director, Media and Advocacy, NDLEA, Femi Babafemi, on Sunday, December 31. Babafemi revealed that while Amobi was arrested on Saturday, December 39, at the departure point of terminal 2 of the MMIA on his way to Doha, Qatar, on a Qatar Airways flight, Obi was taken into custody the same day following the seizure of a consignment of 72,000…
THE Newspaper Proprietors’ Association of Nigeria (NPAN) has announced changes in the cover prices of newspapers of its members, with effect from January 2, 2024. In a statement issued at the weekend and signed by the Executive Secretary, Mr. Feyi Smith, the Association said members had retained current cover prices for over four years, while inflation had more than doubled within the same time. Smith, in a statement on Sunday in Abuja, said, “Our association took this difficult decision after a careful review of the current economic situation and our members’ production costs.” He further highlighted the adverse impacts of…
THE Minister of Aviation, Festus Keyamo, has announced the appointment of 46 new directors across the agencies. This was disclosed in a press release signed by the head of press, Federal Ministry of Aviation, Odutayo Oluseyi, on Thursday. Below are the appointed directors with their names and offices: NIGERIAN METEOROLOGICAL AGENCY (NIMET) 1 PROF VINCENT EZIKORNWOR WELI DIRECTOR, WEATHER SERVICES 2 PROF ODJUGO PETER AKPODIOGAGA OVUYOVWIROYE DIRECTOR, RESEARCH AND TRAINING 3 ONYEGBULE GLORY AMARACHI DIRECTOR, APPLIED METEOROLOGICAL SERVICES 4 ABDULKAREEM HAMID OLAYINKA DIRECTOR, ENGINEERING AND TECHNICAL SERVICES 5 FUNKE ADEBAYO AROWOJOBE DIRECTOR, PUBLIC AFFAIRS AND CONSUMER PROTECTION 6 SHOLA GABRIEL…
A HIGH court in the Federal Capital Territory, on Monday, ruled in favour of the Incorporated Trustees of the Nigerian Bar Association (NBA) and against a former Minister of Women Affairs, Dame Tallen in Suit No: CV/816/2016. Consequently, the Court declared that the said statement of Tallen was unconstitutional, careless, reckless, disparaging, a call to disobey the judgment of the court and therefore contemptuous of the Federal High Court of Nigeria. The Court also granted among other reliefs an injunction restraining the ex-minister from holding any public office in Nigeria, unless she purges herself of the conduct by publishing a…
THE Federation Account Allocation Committee (FAAC) has shared a total sum of N1,088.783 trillion November 2023 Federation Account Revenue to the Federal, States and Local Governments. As contained in a communique issued by the FAAC at its December, 2023 meeting, the N1,088.783 trillion total distributable revenue comprised distributable statutory revenue of N376.306 billion, distributable Value Added Tax (VAT) revenue of N335.656 billion, Electronic Money Transfer Levy (EMTL) revenue of N11.952 billion and Exchange Difference revenue of N364.869 billion. According to the communique, total revenue of N1,620.335 trillion was available in the month of November 2023. Total deductions for cost of…
ENGR Abubakar Kailani, the son of Director General, Confederation of All Progressives Congress Support Groups (CASG), Prof. Kailani Muhammad, has hailed the virtues of his father over conferment of Professorship. Muhammad was conferred with Professor of Electrical/Electronics Engineering by the British American University. In a vote of thanks, Kailani said, “in conferring this professorship, we not only acknowledge past achievements but also express our anticipation for the continued impact my father will undoubtedly have in the years to come”. According to him, “As we celebrate today, let us recognize that the journey towards sustainable energy practices and climate resilience is…
THE Nigerian government has signed a Bilateral Air Services Agreement (BASA) with Kuwait for the commencement of direct flights. This was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo, on his X handle (formerly Twitter). BASA is an air transport agreement between two countries that allows designated airlines to operate commercial flights, covering the transportation of passengers and cargo. According to the Keyamo, the agreement was signed at the ongoing International Civil Aviation Negotiation (ICAN) event organised by the International Civil Aviation Organisation (ICAO), in Riyadh, Saudi Arabia. The agreement, he stated, would facilitate the commencement of…
PRESIDENT Bola Tinubu, on Tuesday, returned to Abuja after attending the 28th United Nations Climate Change Conference, which took place in Dubai, the United Arab Emirates (UAE). Apart from participating in the conference, the President had bilateral talks with King Charles of England, the President of UAE, and leaders of several countries and multilateral partners to concretize engagements. President Tinubu also witnessed the signing of an accelerated performance agreement between Nigeria and Germany to improve Nigeria’s electricity supply and hosted a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and the Electric Buses Rollout Programme on the…
THE management of the Abubakar Tafawa Balewa University, Bauchi has shut down the school following students’ protest over the killing of a 500-level student by suspected armed robbers who robbed him of his mobile phone. This newspaper had earlier reported that the final year Geology student, Joseph Agabaidu, was stabbed by some assailants while trying to steal his mobile phone. Agabaidu was said to be returning to his lodge situated around the Yelwan Tudu market in the Yelwa area, a suburb of Bauchi metropolis around 7pm on Saturday when he was attacked and was rushed to the hospital for medical…
THE United States Embassy in Nigeria in Nigeria said it has interviewed over 150,000 Nigerians, including 30,000 students, who applied for visas to their country this year. The head, Mr. David Greene, made this disclosure on Sunday during an interview with the News Agency of Nigeria in Abuja. He also assured visa applicants of the mission’s commitment to tackling all visa-related hitches. According to him, issues related to visas would fully become a thing of the past, saying the mission is doing everything within its power to tackle such challenges. “When it comes to visas specifically, well, of course, it…
THE National Association of Nigerian Students (NANS) has elected Comrade Pedro Obi from the Delta State University as its new President. Obi, a Phd student of Guidance and Counseling studies got 212 votes to defeat his closest rival, Lucky Emonefe who scored 83 votes. The election was held at the old parade ground, Abuja. This newspaper earlier reported that the outgoing president, Usman Barambu suspended the former electoral committee, saying it was compromised, an action which paved way for another set of executives to conduct the election. The students body had zoned the position of president of NANS to Zone…
THE amount spent on airtime and data by Nigerian telecom subscribers rose to at least N2.59tn in the first nine months of 2023. This is according to the financial statements of MTN Nigeria and Airtel Africa. This was a 32.57 per cent increase from the N1.95tn both telcos recorded from both income sources in the corresponding period of 2022. The increase in voice and data venue was partially driven by rising data subscriptions and the devaluation of the naira on Airtel’s part. In the first nine months of 2022, Airtel made $1.41bn from airtime and data. When converted at the…
THE corpse of a missing Fulani leader, Umar Ibrahim, who got missing on Wednesday, has been found in an abandoned well at Jokom community in Mangu town of Mangu local government area (LGA) of Plateau state. Prior to his death, the deceased was the Ciroma of Kumbun district of Mangu LGA of the state. Spokesperson of the Operation Safe Haven, a security taskforce, maintaining peace in the state, Captain Oya James, confirmed the incident. According to the leadership of Gan Allah Fulani Development Association of the group, (GAFDAN), the deceased had gone missing when he left a hospital on Wednesday…
THE Central Bank of Nigeria (CBN) has disclosed plans to increase the capital base of banks in the country. In his speech at the 2023 Bankers’ Dinner on Friday, CBN Governor Dr Olayemi Cardoso said while there has been stability in the banking sector, banks in the country were not adequately capitalised to meet the need of a $1 trillion economy which the present government was aiming to achieve. “Will Nigerian banks have sufficient capital relative to the finance system’s needs in servicing a one trillion dollar economy in the near future? In my opinion, the answer is no, unless…
THE House of Representatives on Wednesday raised the alarm over the Remita platform through which the Treasury Single Account of the Federal Government is operated. Through a motion by Jeremiah Umaru (APC; Akwanga/Nasarawa Egon/Wamba), the lower chamber said trillions of naira had been passed through the Remita platform and that the funds were unaccounted for due to the proliferation of sub-accounts by the Central Bank of Nigeria (CBN). The house is worried that if this is not addressed, the country will continue to lose revenue. In a related development, the Green Chamber urged the Federal Ministry of Communication and Digital…
FOLLOWING the appointment of 23 new judges, the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, has released new postings for the court’s judges to various divisions across the country. This was contained in a statement Wednesday by the Assistant Director (Information) of the Federal High Court of Nigeria, Catherine Oby Christopher. The Chief Judge directed the affected judges to report at their duty stations before the date of resumption from the Christmas vacation, being the 8th day of January, 2023, the statement said. His lordship wishes his fellow lordships a wonderful vacation in advance. See the…