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Enugu Agency Demolishes Multi-million Naira Structures At Popular Breathe Restaurant & Lounge

Enugu Agency Demolishes Multi-million Naira Structures At Popular Breathe Restaurant & Lounge

The Enugu State government has announced the demolition of alleged ‘illegal structures’ at Breathe Restaurant & Lounge located in Independence Layout, Enugu. The State Capital Territory Development Authority (ECTDA), which carried out the demolition on Thursday, cited lack of title documents, fraudulent submission of Certificate of Occupancy (C-of-O), construction of more buildings than were approved,...

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BREAKING: Nigeria’s Central Bank Revokes Licenses Of 4,173 Bureau De Change Over Failure To Pay Renewal Fees

BREAKING: Nigeria’s Central Bank Revokes Licenses Of 4,173 Bureau De Change Over Failure To Pay Renewal Fees

The Central Bank of Nigeria on Friday announced the revocation of 4,173 Bureaux De Change Operators’ licences over failure to renew. This was made known in a statement by Sidi Ali, Hakama, the Acting Director, Corporate Communications.  The statement reads: “The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under...

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President Tinubu Reappoints Anuwe, Lawal As Managing Director, Secretary Of Nigerian Power Company

President Tinubu Reappoints Anuwe, Lawal As Managing Director, Secretary Of Nigerian Power Company

President Bola Tinubu has reappointed Kenny Osebi Anuwe and Prof Mamman Lawal as the Managing Director/Chief Executive Officer (CEO) and Secretary/Legal Advisor of the Federal Government of Nigeria (FGN) Power Company Limited respectively. The president also appointed three new officials into the FGN Power Company management team including Ebenezer Olawale Fapohunda, appointed as the company’s...

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Nigerian Government Slams $10Billion Fine On Binance Over Naira’s Free Fall

Nigerian Government Slams $10Billion Fine On Binance Over Naira’s Free Fall

The Nigerian Government has demanded $10 billion as a fine from a popular cryptocurrency trading platform, Binance. This was confirmed by Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu, on Friday morning in an interview with the BBC. The presidential aide said the fine was demanded for the illegal operations of...

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Nigeria Finally Restores Power Supply To Niger Republic After 7 Months Blackout Over ECOWAS’ Lifted Sanctions

Nigeria Finally Restores Power Supply To Niger Republic After 7 Months Blackout Over ECOWAS’ Lifted Sanctions

Nigeria has restored power supply to the Niger Republic for the first time in seven months. This comes a few days after the regional bloc, the Economic Community of West African States (ECOWAS) announced the lifting of sanctions on Niger in Nigeria’s capital, Abuja. During its 24th session, ECOWAS said it was lifting the sanctions...

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MTN Nigeria Incurs N740Billion In Forex Losses, Records N177Billion Loss Before Tax For 2023 Over Naira Devaluation

MTN Nigeria Incurs N740Billion In Forex Losses, Records N177Billion Loss Before Tax For 2023 Over Naira Devaluation

MTN Nigeria Plc recorded a loss before tax of N177.8 billion in 2023 compared to a pre-tax profit of N518.8 billion a year before. This is due to the devaluation of the country’s currency, naira. The loss resulted in a wipe-out of shareholders’ funds, according to a Nairametrics report. The management of the company blamed...

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FX debt: CBN owing only five banks – Cardoso

FX debt: CBN owing only five banks – Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that foreign exchange backlogs have been cleared in all the banks except just five. Cardoso made this known on Thursday, February 29 during an investor call facilitated by the Nigerian Exchange Group, during which he said that the remainder of the banks’ FX...

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Constitution amendment first draft ready August 2025 – Kalu

Constitution amendment first draft ready August 2025 – Kalu

The Deputy Speaker of the House of Representatives, Benjamin Kalu, on Thursday, said the first draft report of the ongoing review of the 1999 Constitution would be ready in August 2024. He added that the final clean copy for presidential assent would be out in August 2025. Kalu stated these at a press conference organised...