Author: David Great

The Central Bank of Nigeria (CBN) has stopped daily Cash Reserve Requirement (CRR) debits for banks and will be adopting an updated CRR mechanism that is intended to facilitate banks’ capacity for planning, monitoring and aligning with records, the apex bank said on Friday. A statement by Adetona Adedeji, acting director, Banking Supervision Department, noted that the determination of the segment of deposits is now subject to sterilization with the CBN as CRR will follow two new processes. The CBN added that the determination of the segment of deposits subject to sterilization with the CBN as CRR will follow two…

Social media influencer and political activist, Aisha Yesufu, has described President Bola Tinubu as an illegitimate president. Aisha stated this while featuring on Inside Source, a Channels Television television programme anchored by former presidential spokesman Laolu Akande. She described president Tinubu as a leader who cares less about the nation or the process that brought him to power, claiming he manipulated his way to office “We don’t have a president. We have someone who rigged his way into office. An illegitimate president who doesn’t care and, of course, anyone who is ready to do anything—you know, snatch it, run with…

The Economic and Financial Crimes Commission, EFCC on Monday, January 29, 2024, arraigned a businessman, James Bodisowei before Justice C. A. Obiozor of the Federal High Court sitting in Benin City, Edo State. Bodisowei was arraigned on a 4-count charge by the Benin Zonal command of the Commission for allegedly obtaining the sum of N10,000,000 from one Amah Mathias under false pretence. He is alleged to have defrauded the victim under the pretence of supplying him with 1,000,000 litres of automated gas oil (AGO). One of the counts read: That You JAMES BODISOWEI (M) on or about the 18th day…

The Kaduna State Police Command on Thursday said its operatives had arrested eight persons suspected to be highway robbers on the Kaduna-Abuja expressway. Mansir Hassan, the Command spokesperson, said in a statement in Kaduna that operatives from Tollgate Divisional Headquarters arrested seven suspects on the Kaduna-Abuja highway on 27 Jan. “while gearing up to operate.” “The patrol team, at about 1100 hours, sighted and intercepted a suspicious vehicle with seven passengers who were met changing their clothing to seemingly operational ones. “When accosted, they could not offer a plausible explanation; thus, they were moved to the divisional headquarters. “In the…

The family of the late singer, Ilerioluwa Oladimeji Aloba, well known as MohBad, has visited the mortuary where their son’s body has been held since it was exhumed. The visiting team included Mohbad’s father, Mr. Gurexy, a supporter of the advocacy organisation Justice for Mohbad, Emmanuel Oroko, Esq., and herself, each of whom represented the deceased’s family’s newly hired legal company. According to a statement signed by Monisola Odumosu, a member of the family’s legal team, the visit became essential owing to allegations that the government was reportedly barring visitors to the mortuary. According to Odumosu, the visitation was unrestricted.…

The kidnappers of five pupils and four staff from the Apostolic Faith Group of Schools in Emure, Ekiti, have threatened to kill their victims if their parents do not pay the ransom as soon as possible. The family of the kidnapped revealed on Thursday that the abductors had decreased the demand to N15 million. This follows an announcement by the police that 13 people had been arrested in connection with the Monday killings of two Ekiti monarchs, the Onimojo of Imojo, Oba Olatunde Olusola, and the Elesun of Esun Ekiti, Oba Babatunde Ogunsakin, by kidnappers. Gunmen on the Emure-Ekiti-Iporo Ekiti…

Justice Chukwujekwu Aneke of a Lagos Federal High Court has convicted and sentenced Nollywood actress Oluwadarasimi Omoseyin, 32, to six months in prison for abusing Nigeria’s currency, the naira. Justice Aneke ruled against the actress after she amended her plea to the two-count charge of tampering with N100,000.00 and spraying the naira at a social gathering. It should be noted that the convicted actress, also known as Simi Gold, was apprehended by the Independent Corrupt Practices and Other Fraud Related Offences Commission (ICPC) on February 1, 2023, along Awolowo Road in Ikoyi, Lagos, while spreading 1000 denomination naira notes at…

Manchester United’s Marcus Rashford scored the opening goal, and Kobbie Mainoo added a fantastic late winner as they defeated Wolverhampton Wanderers 4-3 at Molineux on Thursday. Manager Erik ten Hag left Rashford who had been linked to PSG out of United’s 4-2 Cup win over Newport County on Sunday, but he scored the opening goal after five minutes against Wolves and assisted Luke Shaw in setting up Rasmus Hojlund for the second in the 22nd minute. United should have scored more goals in a dominant first half, but Hojlund and Casmeiro’s efforts were ruled out for offside. The game came…

Seven times Formula One world champion Lewis Hamilton is set for a shock switch from Mercedes to Ferrari in 2025 as a replacement for Spanish driver Carlos Sainz, according to multiple media reports on Thursday. Mercedes and Ferrari declined to comment on speculation that would be by far the most sensational driver move of the so-called ‘silly season’. Sky Sports Television said it understood Mercedes principal Toto Wolff would brief the team before a formal announcement later on Thursday. Hamilton, 39, has been with Mercedes since 2013 and won his first title with McLaren in 2008. His current contract is…

The Economic and Financial Crimes Commission, EFCC, on Wednesday, January 31, 2024, prayed Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos to issue an arrest warrant compelling former Executive Director on Projects, Niger Delta Development Commission, NDDC, Tuoyo Omatsuli to attend his trial over an alleged N3.6bn fraud. Omatsuli, alongside Francis Momoh, Don Parker Properties Limited and Building Associates Limited, were initially standing trial on an alleged case of conspiracy and money laundering to the tune of N3,645,000,000 (Three Billion, Six Hundred and Forty-five Million Naira) before retired Justice Saliu Saidu of the Federal High Court,…