CBN/Commercial Banking - Abia ThinkTank News

Dec

06

2023

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By Abia ThinkTank

House Of Reps Issue Warrant Of Arrest On CBN Governor, AGF, Others

CBN/Commercial Banking, Economy, News Flash

Reps issue warrant of arrest on CBN Governor, AGF, others The House of Representatives Committee on Public Petitions has issued a warrant of the arrest on the Central Bank Governor, Mr Olayemi Cardoso, the Accountant General of the Federation, Mrs Oluwatoyin Madein and 17 others for refusing to appear before it to answer questions on their operations. This followed the adoption of a motion by Rep Fred Agbedi (PDP-Bayelsa) at the committee’s hearing on Tuesday. Moving the motion, Agbedi said that the arrest warrant had become inevitable following the attitude of the invitees. He said that the parliament worked with…

Dec

04

2023

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By Abia ThinkTank

FGN Announces Disbursement Of N150 Billion Grants And Loans To Business Owners, List Conditions

CBN/Commercial Banking, Economy, News Flash

FG Announces Disbursement Of N150 Billion Grants And Loans To Business Owners, Lists Conditions The federal government has announced the disbursement of N150 billion small grants and loans to business owners in Nigeria. The two disbursement programmes are the Presidential Conditional Grant and the Presidential Palliative Loan. The programmes, according to a statement signed by the Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, are targeted at alleviating the impact of the fuel subsidy removal which came into effect on June 1. The statement reads: “In the Presidential Conditional Grant Programme, the Federal Government will disburse a grant sum…

Nov

30

2023

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By Abia ThinkTank

JAMB Announces Dates For 2024 UTME Examination

CBN/Commercial Banking, Abuja, Education, News Flash

JAMB Announces Dates For 2024 UTME Examination The Joint Admissions and Matriculation Board (JAMB) has officially unveiled the dates for the 2024 Unified Tertiary Matriculation Examination (UTME). In a statement by JAMB’s spokesman, Fabian Benjamin, the sales of UTME application forms are scheduled to commence on January 15 and conclude on February 26. According to the statement, the main UTME is set to take place from April 19 to April 29, 2024. JAMB also earmarked March 7, 2024, for the MOCK-UTME, providing candidates with a preparatory platform ahead of the main examination. The statement read: “Based on the series of…

Nov

29

2023

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By Abia ThinkTank

Supreme Court Extends Life Span Of Old Naira Notes

CBN/Commercial Banking, Judiciary, News Flash

Supreme Court Extends Life Span of Old Naira Notes The Supreme Court has granted the request by the Federal Government for the extension of the lifespan of the N1000, N500 and N200 notes that were redesigned during the reign of President Muhammadu Buhari. The Federal Government had, last week, through the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN) moved an application before the apex court seeking an extension of time for old naira notes to remain in circulation as a legal tender. Ruling on the application on Wednesday, a seven-member panel of Justices of…

Nov

28

2023

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By Abia ThinkTank

Former NIRSAL Boss Arrested Over N5.6bn Wheat Project Scam

CBN/Commercial Banking, Crime, News Flash

Former NIRSAL Boss Arrested Over N5.6bn Wheat Project Scam Almost a year after he was sacked as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdlhameed, has been arrested for allegedly N5.6bn Wheat Project Scam. NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of Nigeria (CBN) mandated to manage agribusiness-related credit risks in Nigeria. Abdulhameed was kicked out of office following allegations of corruption, including a 2018 N5.6 billion wheat project meant for farmers in Kano and Jigawa States. His sack was endorsed by the Board of the…

Nov

27

2023

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By Abia ThinkTank

Emefiele Pumped N10tn Into Economy Through Quasi-Fiscal Activities – Cardoso

CBN/Commercial Banking, Economy, News Flash

Emefiele pumped N10tn into economy through quasi-fiscal activities – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the apex bank will be asking Deposit Money Banks to increase their capital base in order to service the $1tn economy projected by President Bola Tinubu. This is as he noted that he knew that there was much work to be done in the way the apex bank ran its operations, adding that he would need the collaboration of all stakeholders. CBN Governor, Yemi CardosoSpeaking on Friday at the 58th Annual Dinner of the Chartered Institute…

Nov

27

2023

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By Abia ThinkTank

The Student’s Loan Scheme Will Be Open To All Nigerian Students By January, 2024 – Presidency

CBN/Commercial Banking, News Flash, Presidency

💥BOOM The Student's Loan Scheme By The President Tinubu's Administration Will Be Open To All Nigerian Students When It Commences In January 2024 . ●No More Slots For Politicians , A Digital Portal Would Be Launched And It Would Be Accessible By Nigerian Students. ●Nobody Will Need To Know Anybody To Qualify For These Loans So That Access To This Financing Will Be Genuinely Egalitarian Says CoS Femi Gbajabiamila. SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are involved in the above…

Nov

14

2023

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By Abia ThinkTank

President Tinubu Will Shock Currency Speculators – Dr Tope Fasua, Special Adviser To The President On Economic Matters

Abuja, CBN/Commercial Banking, Economy, News Flash

Special Adviser to the President on Economic Matters, Dr Tope Fasua, said that President Tinubu Will Shock Currency Speculators. He cautioned Nigerians who are hoarding foreign currencies with the hope that the local currency would continue to fall, warning that the policies of the government would shock them. Fasua who represented the Vice President, Kashim Shettima, at the event said: “For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the policies are being rolled out by the central bank and the government that I serve, led by the President, will shock…

Nov

14

2023

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By Abia ThinkTank

President Tinubu Meets Islamic Development Bank Management, Negotiates Multi-Billion Dollar Funding Package For Infrastructure

CBN/Commercial Banking, Economy, FGN, News Flash

President Tinubu Negotiates Multi-Billion Dollar Funding From Islamic Development Bank President Bola Tinubu has secured a multi-billion dollar infrastructure funding package from the Islamic Development Bank (IDB) to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria. This was disclosed in a statement by presidential spokesperson Ajuri Ngelale on Tuesday. The development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the IDB, Dr. Mansur Muhtar, in Mecca, Saudi Arabia, on Monday night, the statement revealed. See the press release below:PRESIDENT TINUBU MEETS ISLAMIC DEVELOPMENT BANK…

Nov

11

2023

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By Abia ThinkTank

Just-In: Dangote Set To Refund $4.89B To CBN

Business, CBN/Commercial Banking, Economy, News Flash

BREAKING NEWS Dangote set to refund $4.89B to CBN.The expected rapidly appreciating Naira is set to gain more value as the Chairman and CEO of Dangote Refinery is set to refund $4.89B out of the laundered FX during Emiefele's regime as the CBN Governor.A total of over $12B was set to have been laundered by the world's richest black man during this period.FX speculators are set for a surprise decline in dollars to Naira exchange over the next few days as a result of this refund. Similarly, the lien on the $11B of the federal reserve has been lifted on…