Nigeria Government Approves Maize Importation As Food Short-falls

The government of Nigeria through the apex bank, Central Bank of Nigeria (CBN) has granted approval to four agro-processing companies to import 262,000 tons of maize and corn in the bid to complement an anticipated shortage of the commodity in the country. This was disclosed in an internal memo of the Nigeria Customs Service seen dated August 6, 2020, as endorsed by the deputy comptroller–general, T.M Isa (Tariff and Trade), which also was confirmed to this newspaper by the service’s public relations officer, Joseph Attah. “In line with government policy…

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New CBN Bank Policy “GSI”, Bank Customers Be-Aware!

A new policy that will deny serial bad debtors any cover to operate went live in the Nigerian banking system on 1 August 2020. The Central Bank of Nigeria (CBN) says the Global Standing Instruction (GSI) policy will facilitate improved credit repayment culture in the country; reduce non-performing loans (NPLs), and promote watch-listing of chronic loan defaulters in the Nigerian Banking System. The policy, introduced by the CBN by virtue of Section 2 (d) of the CBN Act, 2007, is to promote a sound financial system and enhance loan recovery…

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Central Bank Of Nigeria Devalues Naira At Currency Auction

The Central Bank of Nigeria has devalued the naira at one of its currency auctions, according to a latest report on Bloomberg said in its late The weakening comes after Governor Godwin Emefiele announced last month that the bank plans to unify its multiple exchange rates to improve the transparency of its currency-management system. Report has it that, at an auction for importers on Friday, the CBN asked that bids for foreign exchange be made at N380 per United States dollar compared with N360 previously. The bank previously devalued the…

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CBN To Fund Research For COVID-19 Vaccine In Nigeria

-YOMMY AYILARA. CBN To Fund Research For A Nigerian COVID-19 Vaccine – Emefiele. Godwin Emefiele, The Governor of the Central Bank of Nigeria has revealed that the country’s apex bank “is developing a framework” through which it can procure financial support to achieve a Nigerian COVID-19 vaccine.   This was revealed at the unveiling, of the THISDAY Dome testing, tracing, and treatment centre on Tuesday, the 12th of May, 2020 in FCT, Abuja.   The THISDAY Dome is anticipated to enhance health facilities accessible to fight the viral disease.  …

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Minor Fire Outbreak At CBN, Jos Branch

In a tweet shared from the verified handle of the Central Bank of Nigeria at 13. 44pm on Tuesday 21st of April 2020, the fire outbreak was announced. It stated that; “Minor fire outbreak at the Jos branch of Central bank of Nigeria, promptly contained today, April 21, 2020.” This is the fourth time in a roll, where government offices will be on fire in the month of April. In Abuja, the Accountant General’s office was gutted, then the Corporate Affairs office and then a section of the INEC office…

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CENTRAL BANK OF NIGERIA: GOVERNOR ANNOUNCED N1.1 TRILLION INTERVENTION FUND TO DEFEAT COVID-19

In a race against time and the economic impact of the pandemic COVID-19, the Central Bank of Nigeria (CBN) announced a N1.1tn intervention fund to support the Economic sector. This development was made known in a press statement made available by the CBN Governor, Mr. Godwin Emefiele; where he stated that the intervention is imperative and aimed at supporting local manufacturing sector, as well as to boost import substitution as the need arises. An amount of N100bn is earmarked for Researchers & Innovators and Scientists ready to combat the pandemic…

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COINCIDENCE, PLANNED OR GOD AT WORK? As His Highness Muhammad Sanussi Named Chancellor Of Kaduna State University – Muyiwa Adekeye

In sharp contrast to the current event in Kano and Nassarawa State, in less than 48 hours the deposed Emir get another upgrade from Kaduna State government. See quoted release below: “KDSG names Muhammadu Sanusi II as Chancellor of KASU The Kaduna State Government has named His Highness, Muhammadu Sanusi II as the Chancellor of the Kaduna State University (KASU). He succeeds the pioneer Chancellor, His Highness, Malam Tagwai Sambo, the Chief of Moro’a, who was appointed to the role in 2005. A statement from Sir Kashim Ibrahim House announced…

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Sanusi Lamido: A Symbol of Intellectualism – Tunde Adenuga

Sanusi, the son of Lamido, handsomely looking.A symbol of intellectualism. A very brave personality to the core. You emerged unto the throne of your fore-father just like a child crawling towards his meal without any opposition. Some said you merited it while some said it was a reward for a job well done while in office as a CBN governor. Some said it was politically motivated. Some said you were used to push out the past president. Some called it law of Karma. I do not have the strong fact,…

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Sanusi Banished to Nassarawa State

Talk of history repeating itself and this is it……….   According to our source, the embattled Emir of Kano is currently being escorted by security officials out of the palace via the airport to an unknown destination town in Nassarawa State.   The dethroned Emir tends to have suffered same fate as his grandfather, Muhammad Sanusi I who was similarly dethroned in 1963.   In like manner, Emir Sanusi I was said to have been dethroned as a result of the political power tussle between him and the Sardauna of…

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