Panic Grips Crypto Traders As SEC Bans Binance Operation In Nigeria; Declare It An Illegal Entity
The Securities and Exchange Commission (SEC) of Nigeria has declared the activities of Binance in Nigeria illegal. According to a statement published on its website, any Nigerian trading on Binance Nigeria Limited, a subsidiary of the well-known global cryptocurrency exchange Binance, is doing so at his or her own risk. SEC noted that the company’s activities are in violation of Nigerian...
The Beast Called Emefiele Must Face Full Wrath Of Law – Fani-Kayode
Femi Fani-Kayode has celebrated the suspension of Godwin Emefiele from the office of the Governor of the Central Bank of Nigeria. The APC chieftain in a statement issued on Friday labelled Emefiele a beast. Fani-Kayode alleged that Emefiele financed terrorism and committed monumental thievery and corruption. The former minister of aviation said: “The beast called Godwin “The Greed” Emefiele has finally been...
CBN Devalues Naira To 630/$1
The Central Bank of Nigeria (CBN) has depreciated the Naira to N631 per dollar, up from N461.6 sold at the Importers and Exporters (I&E) window the day before, according to Daily Trust. The devaluation occurred 48 hours after President Bola Ahmed Tinubu announced federal government plans to unify the country's exchange rate in order to promote the economy. In his inaugural...
ICAN To Train Officers Of Nigeria Police On Forensic Accounting
The Institute of Chartered Accountants of Nigeria (ICAN) has announced plans to commence forensic accounting training for police officers in the country. The ICAN’s President, Malam Tijani Musa, who disclosed this yesterday during the institute’s 2023 Faculties Induction Ceremony, said the training would further support the effective discharge of the officers’ public duties and responsibilities, as well as deepen ICAN’s...
Loan Sharks Barred From Accessing Customer’s Contacts, Pictures
Loan apps on Play Store, popularly called loan sharks will lose their ability to access their users’ contacts or photos from May 31, 2023. This came as the Federal Government said it would enforce the latest policy by Google, saying the action was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms. The...
CBN Confirms Evacuation Of Banknotes To DMBs
The Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a concerted effort to ease the circulation of different denominations of banknotes. The CBN has also instructed that all commercial banks be open on Saturdays and Sundays. Dr. Isa AbdulMumin, Acting Director, Corporate Communications Department of the...
CBN Breaks Silence, Says Old Naira Notes Remain Legal Tender Till Dec 31st
The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and...
Finally, CBN Orders Banks To Pay, Receive Old Naira Notes
Prof Charles Soludo, Governor of Anambra State, announced on Monday that the Central Bank of Nigeria, CBN has directed commercial banks to accept and disburse old naira notes as deposits. According to ABN TV, Soludo, a former CBN governor, stated this in a statement posted on his social media accounts. He explained that the decision was issued by CBN Governor Godwin...
Supreme Court Bans Withdrawal Limit Policy
On 3 March 2023, the Supreme Court sitting in Abuja ruled in favour of a suit brought before it by Governors. The apex court has placed a ban on the CBN's Withdrawal Limit Policy. During the Apex court's judgment, it was read that "the directive on cash withdrawal limit is an infringement on the Citizens' Human Rights. People should have...
EFCC Intercepts N32.4m New Naira Notes Allegedly Meant For Vote-buying In Lagos State
The massive operation by the Economic and Financial Crimes Commission, EFCC, to deter vote trading and other financial malfeasance ahead of tomorrow's presidential and national assembly elections may have begun paying dividends with the interception in Lagos of the sum of N32, 400,000 (Thirty-two Million, Four Hundred Thousand Naira) allegedly suspected to be used for vote buying in Lagos....
