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Bitcoin Sets New Record Above $71,000

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Bitcoin Sets New Record Above $71,000

Bitcoin hit a fresh record above $71,000 on Monday as demand for the cryptocurrency picks up amid optimism that the Federal Reserve will cut interest rates this year. The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year. The rally was helped by news that Britain’s Financial...

CBN Increases Customs Duty Rate To N1,605.82 Per Dollar Once More

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CBN Increases Customs Duty Rate To N1,605.82 Per Dollar Once More

Less than five days after it marginally reduced the Customs Exchange rate from N1515.48 to N1472.756 last week, the Central Bank of Nigeria (CBN) has again, for the umpteenth time, increased the rate to N1605.82 per dollar. The rate, which has already been reflected on the Customs portal today, February 21st, 2024, has further dampened the hope of the despondent...

Tinubu Sacks Tukur As NFIU Boss, Appoints Bakari

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Ondo 2024: Group Begs Tinubu To Support Ohunyeye’s Ambition

President Bola Tinubu has fired Moddibo Tukur as the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), naming Ms Hafsat Abubakar Bakari as his replacement. According to Ajuri Ngelale, presidential spokesman, who announced the appointment, it is subject to confirmation by the Senate. “Ms. Bakari is a lawyer and financial intelligence expert with years of experience in anti-money laundering,...

Salary Delay In 90 MDAs Resolved, As FG Hails Workers For Their Patience

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The federal government has said all affected federal workers in about 90 Ministries, Departments and Agencies (MDAs) have received their January salaries. Top officials at the Head of Civil Service of the Federation (OHoCSF) and selected MDAs told Daily Trust that they have interacted with colleagues and their subordinates, who all confirmed that they received their salaries. They pleaded not to...

Relocation: CBN Headquarters Presently Overpopulated – Cardoso

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Relocation: CBN Headquarters Presently Overpopulated – Cardoso

The Central Bank Governor, Olayemi Cardoso, said the CBN’s planned relocation of departments and personnel to other branches was a response to the current “overpopulation” at the headquarters. Cardoso stated this in an interview with Arise Television on Monday. The CBN governor said the process was normal for any vibrant entity like a central bank. According to him, the move was to...

CBN Raises ITMO Application Fee To N10m, Restricts Banks, Fintechs From Providing Services

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CBN Raises ITMO Application Fee To N10m, Restricts Banks, Fintechs From Providing Services

The Central Bank of Nigeria (CBN) has increased the application fee for the international money transfer operators (IMTO) licence application fee from N500,000 to N10 million in the revised guidelines.  The increase as contained in the revised guidelines for the operations of IMTOs, which were officially released on January 31, 2024, represents about 1,900% in 10 years. Also, the CBN banned...

Abuja Black Marketers Shuts Down Operation

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Abuja Black Marketers Shuts Down Operation

In a surprising move, foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading on Thursday morning.  They attributed their decision to instructions from their union and a significant depreciation of the Naira against the US dollar at the official market. None of the traders approached was willing to exchange foreign currency. Initially, they...

After Repeated Complains Over Salaries, Staff Of Public Complaint Commission Lock Up Commissioner In Office

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Staff of the Public Complaints Commission, on Wednesday, locked the Chief Commissioner, Abimbola Ayo Yusuf, in the office during a protest over the non-payment of the Consolidated Legislative Salary approved by the National Assembly. The action of the PCC workers in Abuja was premised on their protest to ventilate their grievances. In 2021, the Senate upgraded the salary scale of staff...

Court Voids Passage Of Rivers Budget By Pro-Fubara Lawmakers

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Justice James of the Federal High Court Abuja has nullified the N800 billion budget passed by the Edison Ehie-led group of the Rivers State House of Assembly and signed into law by the Rivers State Governor, Siminalayi Fubara. The court also upheld the suit filed by the Assembly and Speaker Martin Amaewhule, against Fubara, which sought an order of injunction...

End Payment Of “Scandalous” Pension To Ex-Governors, Falana Urges States

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Wike Not Answerable To N’Assembly — Falana, Adegboruwa

Human rights lawyer, Femi Falana (SAN) has called on states to abolish pension payment to former governors, noting that Nigeria can no longer afford to pay ‘scandalous’ pension. He noted that no fewer than 20 of them are in the Senate, drawing jumbo salaries and allowances. In a statement, Falana said many state governors voted themselves humongous pension and perks. The senior...

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