News

Depository banks (DMBs) have significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday. According to several industry reports, the increase in non-performing loans in the banking sector exceeded prudential guidelines in the fourth quarter. This was linked to a higher default rate as the apex bank withdrew forbearance. On Friday, …

Nigeria’s currency, the naira, continued to slide against the American dollar at the official window on Thursday. Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,393.25/$1, compared with N1,387.44/$1 on Thursday. This represents a loss of N5.81 for the local currency against the dollar. On the black market, the naira closed flat against …

President Bola Tinubu has formed an 11-member committee to oversee the operations of the newly approved Grid Asset Management Company Limited (GAMCO). GAMCO is a Federal Government initiative designed to address the persistent electricity transmission challenges in Nigeria. The inauguration, which was carried out on Friday by the President’s Chief of Staff, Femi Gbajabiamila, follows the Federal Executive Council’s approval …

President Bola Tinubu has approved the appointment of four Permanent Secretaries of the Federal Civil Service to fill vacancies. The Director of Information and Public Relations at the Office of the Head of the Civil Service of the Federation (HCSF), Mrs. Restaurant, disclosed this in a statement issued on Thursday in Abuja. Eno Olotu.According to Olotu, the newly appointed permanent …

Police agents in Kwara have arrested suspected kidnappers and cultists in the state. They also found guns and other items throughout the state. The state Commissioner of Police, Mr Adekunle Ojo, disclosed this at a press conference on Friday in Ilorin. Ojo said the operation was intelligence-driven and carried out in collaboration with other security agencies to dismantle criminal networks …

At least three people were killed and six others injured in a car accident at the toll gate area of ​​the Lagos-Abeokuta Expressway on Friday. The Ota Division Commander of the Ogun Traffic Compliance and Enforcement Corps (TRACE), Salau Hamed, confirmed the incident to journalists. Hamed said the accident involving 15 people and six vehicles occurred at around 14.15 READ …

… Immigration implements a digital system to track down defaulters … He says those who fail to comply with their visas risk arrest Daud Olatunji The federal government has said it now has the technological capacity to identify and arrest foreigners who overstay their visas in Nigeria, in what officials describe as a major step towards strengthening immigration control and …

The West African Youth Protection and Advocacy Network (WAYPAN) has congratulated the newly appointed Inspector General of Police (IGP), Tunji Disu, on his appointment to the position, saying the appointment is a timely opportunity to outline key priorities for safeguarding youth rights under the leadership of the new IGP. The Regional Coordinator Rafiu Adeniran Lawal, West African Youth Protection and …

The Nigerian equity market closed the week well as investors gained N119 billion at the end of trading on Friday. This follows the soaring prices of shares such as Eterna, Premier Paints, and Union Dicon, among others, on the stock exchange floor. The benchmark All-Share Index (ASI) index increased to 196,968.15 points from 196,807.15 points recorded the previous day. After …

The Defense Headquarters claimed on Friday that troops deployed to various operational locations killed a number of suspected terrorists in nationwide operations in the last seven days. Director of Defense Media Operations Maj. Gen. Michael Onoja disclosed this on Friday in Abuja, while providing an update on the military operations carried out between February 28 and March 6. He said …