Author: Akintayo Adams

The Central Bank of Nigeria (CBN) is reportedly planning to retire about 1,000 of its employees by December 31, 2024, according to a recent report by Daily Trust. The exercise is expected to cost the apex bank N50 billion. The CBN, under the leadership of Olayemi Cardoso, described the move as a strategic realignment of its workforce. In the past 10 months, the CBN has already disengaged many of its staff, including 17 directors who served under the immediate past governor, Godwin Emefiele. A circular released by the CBN three weeks ago stated that the application for the Early Exit…

The Apapa Command of the Nigeria Customs Service (NCS) has been recognized for its remarkable performance, receiving three prestigious awards for trade facilitation, revenue generation, and overall excellence. The Command has reportedly contributed approximately N2.1 trillion to the Federal Government’s coffers this year, a significant increase since Dr. Babatunde Olomu took over as the Customs Area Controller of Apapa Port Command. During the awards presentation in Abuja, the Comptroller-General of Customs (CGC), Mr. Wale Adeniyi, described the event as a celebration of excellence beyond routine achievements. The awards were presented to the Apapa Command during the 2024 CGC Awards Night,…

Nissan, the Japanese car manufacturing giant, is reportedly facing a severe financial crisis, with insiders warning that the company may only have 12 months to survive. The automaker, which employs 7,000 people in the UK and 17,000 in the US, has launched an aggressive cost-cutting program following substantial losses. Last month, Nissan announced plans to eliminate 9,000 jobs and reduce its global manufacturing capacity by 20 percent. These measures aim to slash costs by $2.6 billion (£2 billion) in the current fiscal year, amid declining sales in China and the US, its largest markets. In an effort to stabilize the…

US President-elect Donald Trump announced on Sunday that he has appointed Massad Boulos, a Lebanese American businessman and father-in-law to his daughter Tiffany, as a senior adviser on Arab and Middle Eastern affairs. This decision highlights Trump’s tendency to place family members and their close connections in influential roles. The announcement came a day after Trump revealed that Charles Kushner, a New Jersey real estate developer and father-in-law to his daughter Ivanka, would be the next US ambassador to France. Both appointments underscore Trump’s reliance on trusted figures within his family network as he prepares for his second term. In…

The federal government has begun deducting a N50 electronic levy from transactions of N10,000 and above made by users of financial technology (Fintech) companies like Opay, Moniepoint, and Kuda. This levy, known as the Electronic Money Transfer Levy (EMTL), was introduced under the Finance Act 2020. It imposes a one-time fee of N50 on the recipient of any electronic receipt or transfer of N10,000 or more. The levy was announced to take effect from September 9, 2024. Despite the government’s decision, the EMTL faced significant opposition from Nigerians, with groups like the National Association of Nigerian Students (NANS) urging the…

Liverpool’s star player, Mohamed Salah, has revealed that their 2-0 victory over Manchester City might be the last time he faces the champions at Anfield, due to ongoing uncertainty about his future at the club. Salah provided the assist for Cody Gakpo’s opener and later scored a penalty in the second half. This win puts Arne Slot’s team nine points clear at the top of the Premier League table and 11 points ahead of Manchester City. After the match, Salah was asked again about his future with Liverpool, as his current contract is set to expire at the end of…

President Joe Biden has pardoned his son, Hunter Biden, following his convictions in two separate federal cases earlier this year. The White House announced the pardon on Sunday night. Hunter, 54, had pleaded guilty to a felony tax case in September and was also found guilty of making a false statement in a gun case. In a statement, President Biden wrote, “Today, I signed a pardon for my son Hunter. From the day I took office, I said I would not interfere with the Justice Department’s decision-making, and I kept my word even as I have watched my son being…

Liverpool secured a 2-0 victory over Manchester City in their Super Sunday Premier League clash. The Reds started the game eight points ahead of the reigning champions. Cody Gakpo opened the scoring by finishing a low cross from Mohamed Salah. Despite City’s efforts to come back in the second half, Liverpool extended their lead. Salah converted a penalty after Luis Diaz was fouled in the area by goalkeeper Ortega Moreno. Arne Slot’s team now sits at the top of the table with 34 points. They hold a nine-point lead over Arsenal and Chelsea, who both secured wins against West Ham…

Former President Olusegun Obasanjo has revealed that he was unaware that ex-Military Head of State, General Yakubu Gowon, had pleaded with the late Sani Abacha to spare his life while he was imprisoned. Obasanjo expressed his gratitude to Gowon for intervening during his imprisonment over an alleged coup attempt. During a program on Friday, Gowon recalled the details of the coup that led to Obasanjo’s imprisonment and disclosed that he had written to Abacha, asking him to spare Obasanjo’s life. Gowon made these claims at an interdenominational Christmas Carol organized by the Plateau State government. In response to these revelations,…

President Bola Tinubu has revealed that the economic policies he implemented upon taking office are now yielding positive results. Acknowledging the harsh impact of these policies on the populace, Tinubu emphasized that these measures were necessary to rescue the country from its crises. Speaking at the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), the President, represented by the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole, stated that Nigeria is transitioning from a consumption-based to a production-based economy. Calling for public understanding and support, Tinubu assured that his administration remains open to both…