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CBN Issues New Operational Guidelines for Banks

CBN Issues New Operational Guidelines for Banks

  As part of its efforts to sanitise the banking sector, the Central Bank of Nigeria, CBN, has issued a new set of corporate governance guidelines for every bank in the country. As contained in the new guideline, investors are now prohibited from owning more than five per cent stakes in any bank without prior

Man Jailed for Stealing Generator

  Salisu Ali, a middle aged man, was today convicted for stealing a power generating set by an Ikeja Magistrate’s Court, 28 sitting at Ijaiye Ojokoro Local Council Development Authority, LCDA, Lagos State.   Ali was arraigned by the Nigerian Police Force, Ipaja division before O.A. Layinka, Senior Magistrate on Tuesday, on a two-count charge

Twin Blasts Rock Jos

Two loud explosions have been heard near a crowded market in volatile central Nigerian city of Jos, Plateau State on Tuesday afternoon. The explosion is reported to have killed an undisclosed number of traders and customers because the market was very crowded at the time. Eyewitnesses say the first bomb went off in the market,

Okonjo-Iweala Says Taxes Needed For Infrastructure Development

Ngozi Okonjo-Iweala, minister of finance and coordinating minister for the economy, said at a stakeholders’ forum on Non-oil Tax Revenue Capacity Enhancement Programme, this morning in Lagos that the recent Gross Domestic Product, GDP, rebasing exercise showed Nigeria as a more diversified economy than many people thought. The minister made this known at the forum

Army Denies Mutiny, Sets Up Inquiry

Chris Olukolade, Major General and spokesman for the Nigerian Army has debunked claims of a mutiny by some officers of the 7th Division of the Nigerian Army. Olukolade said,“The fact of the matter is that troops on patrol around Chibok were ambushed by insurgents yesterday. Troops engaged the insurgents in a fierce combat and extricated

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