Ibrahim Magu, acting Chairman of the Economic and Financial Crimes Commission (EFCC), has alleged that some banks are aiding and abetting politicians and fraudsters in stealing and laundering money in the country. The EFCC boss made this assertion at a meeting with compliance officers of different banks in Port Harcourt on Friday. According to Magu, […]
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Mr Niyi Ajao, Managing Director, Nigeria Inter Bank Settlement System (NIBSS), says one million bank accounts are opened monthly by Nigerians as the nation’s financial inclusion rate increased to 63.6 per cent from 45.4 per cent recorded in 2016. Ajao made the disclosure at the launch of the 2018 Financial Inclusion Survey by Enhancing Financial […]
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Twelve people — including six hostages — were killed in northeast Brazil on Friday after police foiled a gang of armed robbers staging simultaneous predawn assaults on two banks in the town of Milagres, officials said. Five of the dead hostages were members of the same family and included two children, the local mayor, Lielson […]
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The Academic Staff Union of Universities, ASUU, has rejected moves by the Government to increase tuition fees in public universities and establish education banks. According to reports, this move was made known by the Chairman of Government Renegotiating Team with ASUU, Dr. Wale Babalakin, SAN. Announcing the Union’s disapproval at a briefing in Kano on Wednesday, Kano Zonal […]
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The Oyo state government has shut down Obasanjo Farms and 15 other businesses for failing to pay the state’s environmental development levy. The action was carried out by the Board of Internal Revenue’s inter-ministerial enforcement unit. Other companies affected were Black Horse, Heinemann Educational Books, Lister Flour Mills, Evans Brother, Butterfield bakery, Chicken Republic, MRS […]
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The Central Bank of Nigeria (CBN) has ordered four banks to pay a total sum of N5.87 billion for allegedly issuing irregular certificates of capital importation (CCIs) on behalf of some offshore investors of MTN Nigeria Communications Limited. The apex bank has also written to MTN, asking it to refund $8 billion to the coffers […]
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Abia Police Command has impounded a large quantity of military uniforms, allegedly imported from China and stocked at a warehouse in Aba, the commercial hub of the state. Anthony Ogbizi, the state Commissioner of Police, made this disclosure at the Umuahia Central Police Station on Tuesday, while briefing newsmen on the achievements recorded by the […]
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The total loans granted by Nigerian banks to the private sector declined by N600.60bn, from N16 trillion in the first quarter of 2017 to N15.34 trillion, in the second quarter of 2018. A report by the National Bureau of Statistics (NBS) on Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength […]
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The Central Bank of Nigeria (CBN) has promised to support banks to enable them give loans to players in the agricultural and manufacturing sector at a single digit interest rate. Addressing journalists on Thursday after the CBN Bankers’ Committee meeting, Ahmed Abdullahi, CBN director, banking supervision, said the loans will only be available for job […]
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Twelve people were feared dead as gunmen attacked two banks and a police station located at Igarra, headquarters of Akoko-Edo Local Government Area of Edo State on Thursday. The banks were Unity Bank and keystone Bank. Among the 12 people killed were a policeman, detainees and bank customers. It was gathered that the gunmen had […]
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