FG to “Shut Down” Popular Aboki FX Website, Prosecute Owner Over Soared Naira-Dollar Exchange Rate

BusinessMoneyFG to “Shut Down” Popular Aboki FX Website, Prosecute Owner Over Soared Naira-Dollar Exchange Rate

Bada Yusuf Amoo (Correspondent)September 18, 2021

ABUJA — The Federal Government has said that it will shut down the operations of Aboki FX, a website providing currency exchange information, which the bank described as an illegal and criminal platform. The Governor of the Central Bank of Nigeria, Godwin Emefiele, who disclosed this while fielding questions after the Monetary policy committee’s two-day meeting in Abuja on Friday, noted that the bank also plans to prosecute the owner of the platform, Olusegun Oniwinde....

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eNaira: CBN to Own Major Stake in Bitt Inc.

EconomyMoneyeNaira: CBN to Own Major Stake in Bitt Inc.

Beloved John (Staff Writer)September 17, 2021

ABUJA — The Central Bank of Nigeria (CBN), will own a majority stake in Bitt Inc., its technical partner for digital currency eNaira, according to the apex bank governor, Godwin Emefiele. Emefiele announced this at the end of the CBN monetary policy committee (MPC) meeting on Friday. According to the governor, Bitts as a partner will establish their company in the country and the apex bank will own a majority stake in the company. “We...

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CBN Retains Benchmark Interest Rate at 11.5%

EconomyMoneyCBN Retains Benchmark Interest Rate at 11.5%

Beloved John (Staff Writer)September 17, 2021

ABUJA — The CBN’s monetary policy committee has decided to maintain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. The committee unanimously voted to retain the key lending rate of 11.5 percent, with the asymmetric corridor of +100 and -700 basis points around the MPR. Godwin Emefiele, the apex bank governor confirmed this to journalists on Friday following the committee’s two-day meeting at the CBN headquarters in Abuja. The governor stated...

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Adamawa State Government Moves To Reduce Poverty Captures 10,520 Persons Under ADSSP

JobsPovertyAdamawa State Government Moves To Reduce Poverty Captures 10,520 Persons Under ADSSP

Hassan Umar Shallpella (Regional Correspondent)September 15, 20211

YOLA — The Fintiri administration has initiated a programme to improve a lot of youth, women, people living with disabilities, and other vulnerable groups in the state, and no fewer than 10,520 have been captured under “Adamawa State Social Support Program (ADSSP)”. The initiative was organised by Adamawa State Poverty Alleviation And Wealth Creation Agency (PAWECA) aimed at training youths on various skills while assisting them with handouts to enable them float above poverty level....

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Apple Announces iPhone 13 Pro As First iPhone with 1TB of Storage

BusinessTelecommunicationWorld NewsApple Announces iPhone 13 Pro As First iPhone with 1TB of Storage

Bada Yusuf Amoo (Correspondent)September 15, 2021

Tech giant Apple has announced the new iPhone 13 Pro, the first of its kind offering 1 Terabyte as a storage option, allowing iPhone users to store twice the capacity of the iPhone 13. The new model was announced during the company’s streaming event on Tuesday. Though the tech company has offered 1TB as an iPad storage option, the iPhone models have had a maximum storage capacity of 512GB. “iPhone 13 Pro and iPhone 13...

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Sharia Committee In Damaturu Raids Illegal Brothel

BusinessLaw & JusticeLifestyleSharia Committee In Damaturu Raids Illegal Brothel

Hassan Umar Shallpella (Regional Correspondent)September 15, 2021

DAMATURU, (YOBE STATE) —Officials of Damaturu Local Government Shari’a Committee alongside security operatives have raided illegal brothels, beer, and drug selling joints within the Yobe State capital. The raid was not unconnected with allegations that the areas were known for habouring of suspected criminal elements as well as underage commercial sex workers. Bukar Adamu, Council Executive Chairman, who led the Committee on Tuesday raged Zango and Kandahar areas and confiscated cartons of beers and packs...

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Why FG Keeps Obtaining Loans – APC

MoneyPoliticsWhy FG Keeps Obtaining Loans – APC

Beloved John (Staff Writer)September 15, 2021

ABUJA — The All Progressives Congress (APC) has said the loans obtained by the federal government are directed toward improving the welfare of the citizens. According to the ruling party, the series of debts incurred by President Muhammadu Buhari’s administration was a result of the desire to uplift the living standard of Nigerians. In a statement issued on Wednesday, John Akpanudoedehe, the party’s caretaker committee national secretary, said borrowings are based on a genuine need...

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Buhari Seeks National Assembly’s Approval for Fresh $4bn, €710m Loan

EconomyMoneyNewsBuhari Seeks National Assembly’s Approval for Fresh $4bn, €710m Loan

Beloved John (Staff Writer)September 14, 2021

ABUJA — President Muhammadu Buhari is seeking for the approval of the National Assembly to borrow fresh sums of $4,054,476,863 and €710 million in an addendum to the 2018-2020 borrowing plan. The president is also seeking the national assembly’s approval for a grant component of $125 million. The request was in a letter read by Senate President Ahmad Lawan on the floor of the upper legislative chamber on Tuesday. “I write on the above subject...

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UNDP, GEF Distributes Goats To Ten Communities In Adamawa

BusinessRural DevelopmentUNDP, GEF Distributes Goats To Ten Communities In Adamawa

Hassan Umar Shallpella (Regional Correspondent)September 14, 2021

YOLA — Ten communities in Fufore and Yola South local government areas of Adamawa state have received 250 goats from United Nations Development Program (UNDP) and Global Environment Facility, GEF in collaboration with Adamawa state government. Seven states in Nigeria have benefited from the intervention program. Alhaji Umar Daware, state commissioner of Agriculture while making the distribution at the Adamawa State Agricultural Development Program, AADP headquarters in Yola Monday, cautioned the beneficiaries against selling the...

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Allow VAT Legal Battle Thrive, Ekweremadu Tells National Assembly

BusinessNewsPoliticsTaxationAllow VAT Legal Battle Thrive, Ekweremadu Tells National Assembly

Beloved John (Staff Writer)September 13, 2021

The former deputy senate president, Ike Ekweremadu, has warned the national assembly against embarking on any legislation over the collection of the value-added tax (VAT) and stamp duties. According to him, permitting the litigations to run the full course could strengthen the nation’s federalism. He asserted that any constitutional amendment to transfer VAT collection to the exclusive legislative list, as requested by the Federal Inland Revenue Service (FIRS) would be unjust. “In April 2012, I...

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