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Currencies General News

CBN sets limit to cash withdrawals per week

Lagos, Dec. 6, 2022 – The Central Bank of Nigeria (CBN) today introduced a new policy limiting over-the-counter cash withdrawals per week. The CBN has directed banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities should not exceed N100, 000 and N500, 000, respectively, per week. The cash withdrawal limits is contained in a circular issued today by the apex bank will take effect nationwide on January 9, 2023. The new policy is coming barely weeks after President Muhammadu Buhari launched the newly …

General News

Kano Hisbah intercepts truck with 18,000 bottles of beer

Kano, Dec. 6, 2022 – Kano State Hisbah Board has intercepted a vehicle loaded with over 18,000 bottles of assorted beer in Gwarzo Local Government Area of the state. Sheikh Harun Sina, the Commander General of the Board, told newsmen in Kano on Tuesday that the truck was intercepted on Monday along Gwarzo road on its way to Kano. Jamilu Yakasai, the head of anti-intoxicants unit, said the vehicle was intercepted following a tip-off by a good samaritan on its way to Kano through Gwarzo Local Government Area. He said …

General News

Buhari sends 2 CBN nominees to NASS for screening, approval

Abuja, Dec. 6, 2022 – President Muhammadu Buhari has written to the Senate to seek the screening and subsequent confirmation of a former Central Bank of Nigeria (CBN) Director of Human Resources, Edward Adamu, for the position of a Deputy Governor of the CBN. According to the letter, read on Tuesday during plenary by the President of the Senate, Ahmad Lawan, the nomination of Adamu is for the second and last time in office. The President has also written to the Senate, asking for the screening and confirmation of the CBN Deputy …

General News

Airlines to return to profitability in 2023 – IATA

GENEVA, Dec. 6, 2022 (Reuters/GBN) – The airline industry will become profitable again next year for the first time since 2019 as a snapback in air travel continues following nearly two years of COVID-19 restrictions, an industry association said on Tuesday. Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic but air travel has partially recovered and some airports have struggled to cope. The International Air Transport Association (IATA) now expects a net profit of $4.7 billion for the industry next year, with more …

General News

CONUA threatens legal action over non-payment of members’ salaries

Lagos, Dec. 6, 2022 – The Congress of University Academics (CONUA) has threatened to take legal action against the federal government over non-payment of its members’ salaries. The union expressed its disappointment with the Federal Government, particularly the Minister of Labour and Employment, Dr Chris Ngige, over non-payment of its members’ salaries when government knew that the union did not call for strike and its members were not involved in the strike that lasted for eight months. CONUA said this in a statement on Tuesday which was signed by its …

Foreign Oil and Gas

Oil prices climb after Russian crude sanctions kick in

Dec. 6, 2022 (Reuters/GBN) Crude oil prices rebounded on Tuesday after plunging by more than three per cent in the previous session as implementation of sanctions on Russian seaborne crude oil eased concerns about over supply while the relaxing of China’s COVID curbs bolstered the demand outlook. Brent crude futures had gained 85 cents to $83.53 a barrel by 0733 GMT. West Texas Intermediate crude (WTI) rose 68 cents to $77.62 a barrel. Crude futures on Monday recorded their biggest daily drop in two weeks, after U.S. service sector data …

Money market

Zenith Bank wins “The Bank of the Year in Nigeria” award

Lagos, Dec.5, 2022 – Zenith Bank has won “The Bank of the Year in Nigeria” award in The Banker’s Bank of the Year Awards 2022. A statement from the bank said that the award was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony in London on Friday. It said the award was in recognition of the bank’s strong management, sound business model and strategy, support for small businesses and efforts to cut energy consumption. The Banker said the Nigeria’s Bank of the Year award …

Uncategorized

“I am Tinubu and proper Tinubu”, APC Presidential Candidate claims in London

Lagos, Dec. 5, 2022 – Asiwaju Bola Tinubu, the Presidential Candidate of the All Progressives Congress (APC), today claimed that he is a true born of Tinubu family in Lagos. He said this while fielding questions at Chatham House in London, saying that those who disputed claims that he was from the Tinubu family could request for a DNA test. The presidential candidate said he was born on March 29, 1952 in Lagos. Tinubu said that he just received his original certificate from Chicago State University and that his record …

General News Politics

I have no regrets thanking President Buhari over 13% derivation refund – Wike

Port Harcourt, Dec. 5, 2022 – Gov. Nyesom Wike of Rivers State says he has no apologies for thanking President Muhammadu Buhari over the release of oil derivation fund to the Niger Delta States. Wike spoke at the conferment of awards on 162 Nigerians for their achievements, influential lives and services to the advancement of Rivers State and the nation. This was disclosed in a statement issued on Sunday which was signed by Kelvin Ebiri, Governor Wike’s Personal Assistant on Media. “Because I said ‘Buhari, thank you,’ I am having …

Foreign

South Africa’s Ramaphosa awaits ANC panel ruling in ‘Farmgate’ scandal

JOHANNESBURG, Dec. 5, 2025 (Reuters/GBN) – South African President Cyril Ramaphosa’s fate was hanging in the balance on Monday as the executive committee of the governing party discussed allegations he may have committed misconduct and violated the oath of office. The inquiry relates to findings that large sums of foreign currency were hidden at Ramaphosa’s private game farm and he failed to report the money missing when it was stolen in 2020. He said Ramaphosa attended the meeting, put across his points and then asked to be recused, which the …


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