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Wed, Nov

ICRC: Senate Confirms Ohiani As DG

The Senate has confirmed President Muhammadu Buhari’s nomination of Mr. Joe Aniku Ohiani as the Director-General (DG) of the Infrastructure Concession Regulatory Commission (ICRC). Ohiani’ confirmation followed his screening by the Committee on Works, Chairman of the Committee, Senator Adamu Aliero said Ohiani intelligently responded to questions regarding how he would apply the knowledge and experience gained in the Commission to improve its activities.

Using Naira To Buy Dollars Is A Criminal Act - CBN

The Central Bank of Nigeria (CBN), has urged Nigerians of all classes to desist from buying dollars with naira and had warned that anyone or institution caught in such act will be prosecuted. The governor of the apex bank, Mr Godwin Emefiele while reading the riot act to bank customers at the Monetary Policy Committee (MPC) meeting made this disclosure.

OPEC Secretary-General Mohammad Barkindo Dies at 63

The outgoing Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo died at the age of 63. The news of his demise was disclosed by Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, via his Twitter handle on Wednesday morning.

CBN Hikes Interest Rate To 14% To Curtail Inflation

The Central Bank of Nigeria (CBN) through its policy committee has increased the monetary policy rate (MPR), from 13 percent to 14 percent. This was revealed by the CBN governor, Godwin Emiefele at the Monetary Policy Committee (MPC) two days meeting while addressing journalists in the Lagos State on 19th July 2022, noting that the hike will help curtail the rising inflation uptick.

FG Replaces Acting Accountant General Of The Federation

The Federal Government (FG) has removed Mr. Chukwuyere Anamekwe and appointed a new acting Accountant-General of the Federation, Mr. Okolieaboh Sylvis, a former Director of the Treasury Single Account (TSA). According to reports, Anamekwe was replaced because he was “under the radar of the Economic and Financial Crimes Commission (EFCC) over corruption allegations”, however, this development has not yet been confirmed by top government officials.

Kuda Microfinance Bank Introduces N50 Stamp Duty

Kuda Microfinance Bank has announced to its customers via mail that it would commence charging N50 on all deposits of N10,000 and above from July 15, 2022. According to the mail, “In line with the Federal Government’s Duty Act, we’re required by law to apply a N50 charge to all depositors of N10,000 or more made into your Kuda account.

Vauld Suspends Trading, Withdrawals And Deposits Amidst ‘Financial Challenges’

Amid broader volatility in the crypto market due to several global macroeconomic factors and the recent collapse of multiple cryto-financial institutions, Singapore-based crypto-trading platform Vauld has suspended withdrawal and deposit options. The decision came as the platform was facing financial challenges and looking at a potential restructuring. In a statement released on the company website on Monday, Vauld founder and CEO, Darshan Bathija, said the startup is restructuring options and has engaged with Kroll for financial advice and Cyril Amarchand Mangaldas and Rajah & Tann for legal advice in India and Singapore.

FAAN To Shutdown Lagos Airport Domestic Runway For 90days

The Federal Airport Authority of Nigeria (FAAN) has revealed in a statement on 7th July 2022 by its Ag. General Manager Corporate Affairs Mrs. Faithful Hope-Ivbase that it will be shutting down the 18L/36R runway of the Murtala Muhammed Airport (MMA), Lagos from 8th July 2022 to 5th September 2022. This is to install the Airfield Lighting (AFL) that has been down for fifteen years. More so, an alternate route will be provided to ensure seamless operation by diverting to the 18R/36L (international runway) as stated by FAAN.

Sanwo-Olu Approves Hike In BRT Fares

Lagos State Governor, Babajide Sanwo-Olu has approved a flat rate increment of N100 in bus fares for all Bus Rapid Transit (BRT), and Standard routes as ways to sustain operations, due to the rising price of diesel which is affecting the performance of bus-operating companies. The Assistant Director of Corporate Communication, Lagos Metropolitan Area Transport Authority (LAMATA), Mr. Kolawole Ojelabi made this known in a statement on 30th June 2022, stating that the increase in fare is expected to take effect from 13th July 2022.

NIPC: President Buhari Reappoints Executive Secretary

President Muhammadu Buhari has approved the reappointment of Saratu Umar as the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC) for another term of five years which takes effect immediately. This was disclosed on Tuesday by the President’s Senior Special Assistant, Media, and Publicity, Garba Shehu in a statement titled, ‘President Buhari appoints Hajiya Saratu Umar for another term of five years at NIPC’.

President Buhari Reappoints DG DMO

President Muhammadu Buhari has approved the reappointment of Patience Oniha as the Director-General of the Debt Management Office (DMO) in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003. This was disclosed on Thursday in a statement signed by the president’s Senior Special Assistant on Media and Publicity, Garba Shehu which stated that her reappointment is for a second term of 5 years and takes effect from July 1, 2022.

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