Justice Mojisola Dada of an Ikeja Special Offences Court has sentenced former President Olusegun Obasanjo’s in-law Dr. John Abebe to seven-year imprisonment for laundering and forgery.
Justice Dada however gave the convict an option of fine of N50million to be paid within 30days in lieu of imprisonment.
The trial judge handed the judgement after it was established that the prosecution proved its…
Problems accessing new Naira banknotes could increase as bank workers go on strike starting Monday.
The industrial action, is owing to attacks on bank workers by depositors of the old N,1000, N500 and N200 notes.
The Association of Banking, Insurance and Financial…
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.
The CBN maintained that the old currencies were no more legal…
Nigeria’s inflation soared to 21.82 per cent in January 2023, according to the National Bureau of Statistics.
This is amid a redesign of the naira by the Central Bank of Nigeria. January’s inflation rate is a 0.48 per cent point increase from the 21.34 per cent that was recorded in December 2022.
This is a new 17-year high after inflation fell for the first time in December 2022. Prior to…
Some fish traders on Wednesday in Ibadan protested the rejection of old naira notes by cold room operators, saying the development lead to losses on their part.
The traders, comprising aged women, had converged on the premises of Agidigbo 88.7FM along Iwo Road-Ojoo…
Protest has erupted in Akure, the Ondo State capital, over the refusal of commercial banks to receive old naira notes from customers as well as pay out new notes.
The protest began at the First Bank, Alagbaka by angry customers who had waited for several hours without…
The Supreme Court on Wednesday affirmed the validity of the use of old 200, 500 and 1000 naira notes.
The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.
The clarification from the court followed a complaint by Abdulhakeem Mustapha (SAN), lawyer to the Kaduna, Kogi and Zamfara states…
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that Point of Sale agents who charge above N200 for the CBN cash swap programme will be arrested and jailed when caught.
He said this on Tuesday during a visit to the Ministry of Foreign Affairs, to…
New Naira: Falana fires CBN for failing to comply with Supreme Court ruling.
February 14, 2023
Rights activist and Senior Advocate of Nigeria, Femi Falana, has lambasted the Central Bank of Nigeria for allegedly flouting the interim injunction of the Supreme Court suspending the implementation of the February 10 deadline on the use of the old banknotes.
The CBN had…
Meta promises continued investment even after the departure of high-ranking officials.
February 14, 2023
MEta, the parent company of social media platforms, Facebook, Instagram and WhatsApp, has said it will continue to invest in its platforms to encourage growth.
In a statement by the tech company on Monday, it announced the exit of its Chief Business Officer, Marne Levine.
Meta said, “We are proud that we have more people than ever using our platforms, and our investments in our business products…