Author: David Great

The Central Bank of Nigeria (CBN) has, in an amended consumer protection framework, mandated financial service providers to meet minimal criteria in their advertising and promotional materials. One of the criteria is that FSPs must not allude to unaudited financial figures in their sales promotions. Unaudited financial statements are those that have not been reviewed and confirmed for correctness and completeness by an independent auditor. Other requirements include disclosing contact information and its regulatory authority; disclosing product costs, including all fees and other associated charges; disclosing the nature and value of benefits, where an advertisement refers to or is linked…

Former presidential spokesman Laolu Akande has urged Nigerian President Bola Tinubu to seek assistance outside his government in order to curb the rising inflation plaguing the country. Akande, who served as media aide to former vice president Professor Yemi Osinbajo, stated this on Thursday while featuring as guest on Channels Television flagship programme, Sunrise Daily. While admitting that the current challenges faced by the country didn’t start under the Tinubu-led administration, Akande said there are individuals outside the administration that have a better grasp of the situation the country is facing. “The president is going to get the blame or…

Troops of the Nigerian Army on Wednesday succeeded in rescuing 18 female kidnapped victims from their captors and handed them over to the Katsina State Government. The Brigade Commander, 17 Brigade of the Nigerian Army, Katsina, Brig.- Gen. Oluremi Fadairo, said that the soldiers took a rescue operation to the bandits’ enclaves at Yan-Tumaki and Dan-Ali forests. He explained that the troops successfully engaged the terrorists in a gun battle, after which they successfully rescued the victims. Mr Fadairo then handed over the victims to the state Commissioner for Internal Security and Home Affairs, Dr Nasiru Mu’azu. He stressed the…

The Special Adviser to Oyo state governor on security, Fatai Owoseni has disclosed that three persons will be prosecuted in connection to January 16 explosion in the Old Bodija area of Ibadan, which claimed five lives, injured 77 persons and destroyed 58 houses. Owoseni, a retired commissioner of police stated this after delivering an official report on the incident to Governor Seyi Makinde in Ibadan. The report, it was learnt, comprises findings of the medical, security and engineering teams set up by the government. “Three persons of interest have been identified in connection with the cause of the unfortunate incident,…

The Economic and Financial Crimes Commission (EFCC), in an effort to stem the free fall of the naira in the FOREX market, has constituted a Special Task Force to curb what it terms the ‘dollarization’ of the economy. The EFCC Head of Media and Publicity, Dele Oyewale, revealed this in a statement released on Wednesday. According to Oyewale, the task force will be spread across all zonal offices of the anti-graft agency. “The Task Force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability…

Substitute Kelechi Iheanacho dispatched the winning penalty as Nigeria beat 10-man South Africa in a penalty shoot-out to advance to the final of the African Cup of Nations in Ivory Coast. The captain of the Super Eagles of Nigeria, William Troost-Ekong scored from the spot to give the West Africans the lead after Victor Osimhen had been fouled. But the South Africans drew level when defender Teboho Mokoena struck past Stanley Nwabili from the penalty spot. AFCON: Super Eagles will win the trophy – Kanu Nigeria goalkeeper Stanley Nwabali saved two penalties in the shootout to guide his side to…

The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested three persons in connection with suspected currency racketeering. The suspects: Musa Gideon, Abdul Seidu Adamu and Justine Musa were arrested along Yakubu Gowon way, Kaduna on Wednesday, February 7, 2024 while trying to sell new naira notes to an EFCC’s undercover operative. The operative, a member of the Special Task Force set up for the enforcement of extant laws against currency racketeering, mutilation and dollarization of the economy by the EFCC chairman, Ola Olukoyede, functioned in a sting operation carried out by the Team. Illegal Mining:…

Reactions have continued to trail Chippa United chairman Siviwe Mpengasi public declaration of support for Stanley Nwabali and the Nigerian national team ahead of the semi-final clash between the Bafana Bafana of South Africa and the Super Eagles of Nigeria. Mpengasi in a statement released on the club’s X handle, disclosed the club’s support for their goalkeeper Stanley Nwabali and the Nigeria Super Eagles. “As the Chairman of Chippa United FC and as a proud South African, I find myself in a unique position during this 2023 AFCON tournament in that our very own Nigeria international Stanley Nwabali has been…

The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) has impounded 12 trucks containing different types of solid minerals mined without licence. The anti-graft agency also arrested 41 suspected illegal miners operating on different mining fields in the State. Mr. Michael Nzekwe, the EFCC’s Zonal Commander, paraded the suspects in Ilorin on Tuesday, saying they were apprehended in a variety of places, including Patigi, Igbeti, and Ogbomoso near Kwara State. Nzekwe said that most of the arrested suspects were truck drivers, adding that some of them had named some foreign nationals and one or two Nigerian big…

The police in Ogun State have arraigned the 2023 governorship candidate of the Peoples Democratic Party, Oladipupo Adebutu, in the State High Court located in Abeokuta on Tuesday. Adebutu alongside five others appeared before  Justice Abiodun Akinyemi over seven-count charge bordering on vote buying and other offences in a case number AB/10c/2023 (FRN Vs Adebutu &Ors) Adebutu, during the governorship election held on March 18, 2023, was accused of inducement during the poll by security agents alongside other members of his party. He was accused of ordering the distribution of 200,000 preloaded ATM verve cards worth N10,000 through his bank…