Author: Akintayo Adams

The Central Bank of Nigeria (CBN) has announced the sales of foreign exchange (FX) to about 1500 bureau de change (BDC) operators across the country at the rate of ₦1,101/$. This was disclosed in a circular titled, ‘Sales of FX to Meet Retail Market Demand For Eligible Invisible Transactions’, dated April 8. The latest round of sales come after the previous which held on the 25th of March, where the apex bank sold $10,000 to each BDC at a rate of ₦1,251/$1. “We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to…

Governor Godwin of Edo State has picked Omobayo Godwin as his deputy, hours after the impeachment of Philip Shaibu. His inauguration is to take place on Monday at the Edo State Government House in Benin City. He was born on July 19, 1986, and Omobayo hails from Akoko Edo Local Government Area of the state. He has a B.Eng Degree in Electrical and Electronics Engineering and an MSc in Public Administration from the University of Benin (UNIBEN), preparing for the role of a professional and an expert in public administration. He is a registered member of the Nigerian Society of…

The Lagos State High Court sitting in Ikeja has ordered the remand of erstwhile Central Bank Bank (CBN) Governor, Godwin Emefiele, in the custody of the Economic and Financial Crimes Commission (EFCC). Justice Rahman Oshodi gave the remand order over alleged abuse of office and and $5.5 billion and ₦2.8 billion fraud. Meanwhile, Emefiele’s co-defendant, Henry Isioma-Omoile, was ordered to be detained at Ikoyi Custodial Centre. The defendants counsel, Mr A. Labi-Lawal, had in his two bail application urged the court to grant the defendants bail on self recognition and on liberal terms pending the determination on the case. Labi-Lawal,…

The Edo State House of Assembly has formally impeached Philip Shaibu, deputy governor of the state. The lawmakers removed Shaibu, who hasn’t been on the same page with Governor Godwin Obaseki, on Monday morning. Shaibu had declined to honour invitations extended to him by the seven-man panel which investigated allegations against him. His refusal convinced the panel led by Justice S.A. Omonua (rtd) to recommend his removal, saying Shaibu wasted the opportunity for defence. At its sitting on Friday, Justice Omonua bemoaned the deputy governor’s absence. “This is the position of the panel. The panel adjourned sitting to today (Friday) for…

Tigran Gambaryan, an executive of Binance Holdings Ltd. has pleaded not guilty to the money laundering charges leveled against him by the Economic and Financial Crimes Commission. Gambaryan was arraigned on Monday by the EFCC before Justice Emeka Nwite of the Federal High Court in Abuja. The EFCC had accused Binance, Gambaryan, and fleeing Nadeem Anjarwalla of concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity. The arraignment stalled on April 4 following an objection from Gambaryan’s counsel, Mark Mordi, (SAN). Mordi had insisted that his…

The Sultan of Sokoto, Muhammad Sa’ad Abubakar III has called on Muslims across the nation to look out for the new moon marking the end of Ramadan 1445AH on Monday. This was contained in a statement released on Sunday by the Chairman of the Advisory Committee on Religious Affairs of the Sultanate Council in Sokoto, Sambo Wali. “Muslims are therefore requested to start looking for the new moon of Shawwal 1445AH on Monday and report its sighting to the nearest district or village head for onward communication to His Eminence, Alhaji Muhammad Sa’ad Abubakar, CFR, , the Sultan of Sokoto,”…

Erstwhile Governor of Central Bank of Nigeria, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos ahead of his arraignment over alleged abuse of office and allocation of billions of dollars. Emefiele, alongside his co-defendant, a certain Henry Isioma Omole, will be arraigned on 26 counts before Justice Rahman Oshodi this morning. In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele misused his power between 2022 and 2023 in Lagos. The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the…

The Nigerian Meteorological Agency has alerted Nigerians to expect sunshine and thunderstorms from Monday to Wednesday. This was contained in NiMet’s weather outlook released on Sunday in Abuja, where it forecasted sunny and hazy atmosphere over parts of Yobe and Borno states on Monday, with chances of thunderstorms over part of Kebbi. “Later in the day, isolated thunderstorms are anticipated over parts of Bauchi, Taraba and Kaduna States. However, it said the remaining parts of the North should be sunny with patches of cloud during the morning periods. The North central region of the country is expected to witness sunny…

Sequel to the announcement of a new national identity card termed “innovative identity solution” days ago, the Federal Government has disclosed plans to launch additional 2 new national identity cards in May this year with a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include the aforementioned bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card. The new innovation was disclosed by the Technical Adviser, Media, and Communications to the Director-General of NIMC, Ayodele Babalola in…

Ace comedian, Ayo Makun, popularly known as AY, and his wife, Mabel, have separated after 16 years of being legally binded. He confirmed the divorce in an Instagram post late Sunday night. “Many people believe that staying silent simply means that one is incapable of dealing with issues. Projecting a negative narrative against someone who is not struggling to defend himself doesn’t mean he is weak. Some of us are just logical enough to understand the difference between opinions, values, beliefs, and facts,” he wrote. “The personality and ability that I possess simply confirm that I have reached that stage…