The Central Bank of Nigeria (CBN) has introduced a 75 percent cash reserve ratio (CRR) on non-treasury single account (TSA) public sector deposits for enhanced liquidity management. Olayemi Cardoso, CBN’s governor, announced at a press conference on Tuesday after the monetary policy committee (MPC) 302nd meeting in Abuja. Non-TSA public sector deposits are government-related funds…
Barring a last-minute delay, three opposition governors, including Governor Peter Mbah of Enugu State and Duoye Diri of Bayelsa State, will defect to the ruling All Progressives Congress, APC, next week, Saturday, Vanguard has gathered. Mbah and Diri were elected on the platform of the Peoples Democratic Party, PDP. The identity of the third governor…
The Presidency has announced the take-off of the $550m upstream gas project between the Nigerian National Petroleum Corporation Limited and TotalEnergies on the development of the Ubeta field. The Special Adviser to the President on Energy, Olu Verheijen, disclosed this at an inaugural US-Nigeria Strategic Energy Dialogue, hosted by the US State Department, in Washington,…
Yesterday was indeed an eventful memory day as the Honourable representing Ibadan North Constituency 1 in the Oyo State House of Assembly visited an ongoing constituency project; Police station which she believes upon completion will gear up security in the vicinity. Her focus is to encourage State and local policing and allows the constituents to…
The U.S. State Department has said it has revoked more than 100,000 visas since President Donald Trump returned to office last year, describing the figure as a new record under the administration’s hardline immigration policy. The revocations form part of a sweeping immigration crackdown launched after Trump’s return to the White House, which has seen…
Colleagues are playing tribute to a rising star in Yoruba sector of Nollywood, Seun Osundiya, popularly known as ‘Seun Confirm,’ who reportedly died on Wednesday. Seun Confirm whose credits include roles in movies like ‘Osole’, ‘Eru Aye’, ‘Ajoke Apesin’ and ’Mr Jerico” reportedly died of complications arising from benign prostatic hyperplasia (BPH), also known as…
The Federal Government has suspended the 4% Free on Board (FOB) charge recently imposed on imported goods by the Nigeria Customs Service. The directive, which takes effect immediately, was communicated on Monday via a letter signed by Permanent Secretary, Special Duties, R. O. Omachi, Federal Ministry of Finance. The move follows consultations with industry stakeholders,…
A Mortgage banker, identified as Sulaiman Olayiwola Gbajabiamila has been sentenced to 20 years imprisonment for diverting the sum of N31 million paid to him for acquisition of a flat in Iponri area of Lagos State. Gbajabiamila was arraigned on September 19, 2023, by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission…
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a total of 28 suspected internet fraudsters, popularly known as ‘Yahoo boys’ in Edo and Akwa-Ibom states. The suspects were arrested on Monday after a separate sting operation conducted on their hideouts following an intelligence report on their alleged fraudulent activities. Thirteen of the…
On Sunday, the highly anticipated Africa Magic Viewers’ Choice Awards (AMVCA) unveiled its nominees for the 11th edition, recognizing the best in African film, television, and digital content from January 1 to December 31, 2024. Set to take place on May 10, 2025, in Lagos, Nigeria, the prestigious ceremony will celebrate the industry’s brightest talents…
