The Central Bank of Nigeria (CBN) has said that the Nigerian economy has recorded over $1.5 billion in foreign exchange (FX) inflow in March 2024, indicating that its monetary policy initiatives are working according to plan. This was revealed by Hakama Ali, the bank’s Acting Director, Corporate Communications Department, in a statement made available on March 29. She explained that available data before the bank shows the inflows result from a concerted effort by the CBN to stabilize the foreign exchange market. She said the naira has also continued to gain value in the autonomous foreign exchange market, as it…
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Kano state Governor, Abba Kabir Yusuf, has explained why he appoints Mustapha Kwankwaso, son of Presidential Candidate of the New Nigeria Peoples Party (NNPP) in the 2023 election and former Governor of Kano state, Senator Rabi’u Musa Kwankwaso, as a member of his cabinet. Governor Yusuf spoke through a statement made available to newsmen by the Director-General, Media and Publicity, Kano Government House, Sanusi Bature Dawakin Tofa, Thursday night. The statement is entitled: “In Defence of Mustapha Kwankwaso’s appointment.” part of which reads: “Senator Rabiu Musa Kwankwaso has promoted hundreds of thousands of young men and women, many of them…
A division of the Appeal Court, sitting at Audu Bako Secretariat in Kano state has dismissed a suit filed by business mogul, Alhaji Aminu Dantata over possession of a landed property in the state. A local FM radio station in Kano, Express FM, on Thursday reported that the land dispute between the family of one late Sharu Ilu and Dantata over possession of a trench located at Gwammaja area in the Kano metropolis started about five years ago. The family of late Ilu, through their Counsel, Yahya Y. Sharif dragged the elder statesman to a High Court in Kano, claiming…
CBN Fixes Minimum Capital Bases For Banks At N500bn, N200bn, N50b, Gives Ultimatum Following the recent advice to Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the nation’s financial system, the Central Bank of Nigeria (CBN), on Thursday, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500 billion. The CBN, in a statement, said the new minimum capital base for commercial banks with national authorisation is now N200billion, while the new requirement for those with regional authorization is N50 billion. Acting…
A list of over one hundred inmates on death row who have applied for clemency has been presented to the Chair person of the Kano state Prerogative of Mercy Committee, Hajiya Azumi Namadi Bebeji following the committee’s visit to the Maximum Security Custodial Centre, Janguzu, Kano. The presentation was made on Thursday by the Controller, Nigerian Correctional Services, Kano state command, Suleiman M. Inuwa. The chairperson received the list of inmates on Death Row (IDR), those serving life imprisonment as well as those serving long sentences. More so, inmates with serious medical challenges, elderly inmates and other classes of inmates…
Senator Abdul Ningi, the Senator representing Bauchi Central Senatorial Zone and former Deputy Majority Leader in the Senate has written to the Senate demanding Senate President, Godswill Akpabio to revoke his suspension within seven days or face legal action. It would be recalled that Ningi was suspended by the Senate over an allegation of budget padding to the tune of N3.7 trillion. He told the BBC in an interview that projects worth N3.7 trillion were untraceable in the 2024 budget. The allegation triggered a lot of controversies within and outside the Senate as Nigerians raised many questions on the activities…
By Abbas Bamalli The United Nations Children’s Funds (UNICEF), has begun a three-day capacity building workshop for Civil Society Organisations (CSOs) from Katsina, Jigawa and Kano States. The workshop, taking place in Dutse, Jigawa, is aimed at influencing child financing and effective Social Protection (SP) implementation. Presenting a paper titled: “Prevention of Sexual Exploitation and Abuse (PSEA)”, Hajiya Fatimah Musa, a UNICEF specialist on social policy, Kano Field office, deliberated on critical roles of CSOs in achieving the set goals. She said the CSOs as implementing partners, should conduct themselves appropriately when dealing with beneficiaries of Social Protection (SP) interventions.…
BBC Reports.. Few had heard of him a year ago, and now he is set to become president. Bassirou Diomaye Faye’s extraordinary rise caps a rollercoaster period in Senegalese politics that caught many off-guard. Months in jail alongside ally and kingmaker Ousmane Sonko ended suddenly, with the pair released the week before the presidential election. Now Mr Clean, as he’s nicknamed, must get to work on the sweeping reforms he has promised. “Methodical” and “modest” are words often used to describe the tax collector, who celebrates his 44th birthday on Monday. Mr Faye fondly recalls his rural upbringing in Ndiaganiao,…
A one time Presidential Candidate of the Action Alliance (AA), the Chief Security Officer to late General Sani Abacha, Hamza Almustapha has decried the approach of the Nigerian government to fighting insecurity, describing it as wrong and would lead nowhere. He made the comment while receiving the President of Nigerian Youth Organization (NYO) Ambassador Duke Olamboye recently in Abuja. He explained that it is wrong to be using the military to play police role because it is counter-productive in fighting terrorism. He added that it is dirty politics in the country that brought about the funding, formation and sustenance of…
The Managing Director of the Sabon Gari Market Abdul Bashir Hussain has explained why the management expelled the wheelbarrow hawkers from the market while reacting to a protest march staged by the wheelbarrow hawkers union. He explained that a more conducive environment has been provided for the wheelbarrow hawkers to relocate to, before the decision was made, but they rejected the offer. Hussein further explained that the presence of the wheel Barrow Traders causes a lot of havoc and security challenges in the routs of the market. ”Before we took this decision we invited all stakeholders, which include elders, security,…