Day: December 15, 2024

Supply Hawkers Mint Naira Notes, Pay N150m Fine – CBN Warns Banks

Abibat Babalola

The Central Bank of Nigeria (CBN) has issued a strong warning to banks involved in the illegal circulation of newly minted naira notes. The apex bank stated that any financial institution found facilitating the illicit flow of mint naira notes will face a hefty fine of N150 million per branch. In a circular signed by Solaja Olayemi, the acting director of the CBN’s Currency Operations Department, the regulator expressed deep concern over the diversion of freshly minted banknotes to currency hawkers and other unscrupulous economic agents. This illegal practice, according…

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Nigeria To Save N640bn For Choosing Concrete Over Asphalt For Abuja-Kano Road

Abibat Babalola

The Minister of Works, Engineer Dave Umahi, has said the decision to switch from using asphalt for the construction of the Abuja-Kaduna-Zaria-Kano road to using concrete will save the Federal Government over N640 billion. Engineer Umahi disclosed this when he appeared before the Ad-hoc Committee set up to monitor the construction of the multi-billion naira contract, chaired by Hon. Aminu Jaji. The contract for the construction of the road, which was awarded to Julius Berger, was recently terminated by the Federal Government, who accused the contractor of unethical practices and…

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2027: Methodist Archbishop Advocates Muslim Governor For Lagos

Gbenga Adeoti

‘Sanwo-Olu Will Mark 12 Uninterrupted Years of Christian Rule’   The Archbishop of the Methodist Church Nigeria (Lagos), Most Rev. Isaac Ayo Olawuyi, has advocated for a Muslim as the governor of Lagos in 2027, arguing that this was in the spirit of religious tolerance. Platforms Africa reports that Most Rev. Isaac Ayo Olawuyi, who said this during a sermon at the Lagos House of Assembly, maintained that it “would be 12 years by 2027 that we have been having Christians as governors.” Praying that when “it’s time for the…

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