Wed, Mar

WEMA Bank Appoints Moruf Oseni As New CEO

Wema Bank Plc has announced the appointment of Mr. Moruf Oseni as the managing director/CEO subject to the approval of the Central Bank of Nigeria (CBN). Alongside Oseni, the bank also appointed Wole Akinleye as the deputy managing director and Tunde Mabawonku as executive director. Moruf Oseni joined Wema Bank in June 2012 as an executive director. He has over 25 years of experience with more than 16 years at senior and executive management levels. Oseni was an executive director for six years and deputy managing director for the last four years and has demonstrated capacity to lead the bank.

SERAP Sues Niger Delta Governors Over Derivation Funds

The Socio-Economic Rights and Accountability Project, SERAP has filed a lawsuit against oil-producing states in Nigeria over alleged ”failure to account for the spending of the oil derivation refunds of N625bn recently paid to them by the Federal Government, including details and locations of projects executed with the money.” The Federal Government recently paid N625.43 billion in oil derivation refunds to the governors of Abia, Akwa Ibom, Bayelsa, Delta, Edo, Rivers, Ondo, Imo, and Cross River states. The payments covered 13 percent oil derivation, subsidy, and SURE-P refunds. The refunds date from 1999 to 2021.

Goods Worth Millions Destroyed As Fire Guts Onitsha Market

Goods worth millions were on Saturday destroyed in an early morning fire at the Ose main market, Onitsha, Anambra State. The incident happened around 1am, and reportedly three shops where drums of chemicals where stored were consumed by the fire. The cause of the fire was still unknown as at time of filing the report. Meanwhile no life was lost in the inferno. The State Fire Chief, Engr Martin Agbili while confirming the incident, said immediate intervention of his men prevented the fire from spreading to other shops in the market.

FG Reviewing Some Peculiar Allowances Not Salaries - Ngige

The Minister of Labour and Employment, Chris Ngige on Friday said that the Federal Government was not considering an upward review of public and civil servants' salaries. He said what is being reviewed was some peculiar allowances of both the civil and public servants, not salaries as was recently reported.

Banks Begin Circulation of New Naira Notes

Deposit Money Banks (DMBs) on Thursday began circulating the newly redesigned notes across the N200, N500, and N1,000 denominations which is in line with the release date set by the Central Bank of Nigeria (CBN). However, according to reports from various banks, they were only given a limited supply of the new Naira notes but analysts suggest that the CBN would make more available for circulation in due time.

Naira Cards: GTBank To Suspend International Transactions Dec 31

Guaranty Trust Bank (GTBank) announced to its customers in a statement on Thursday about its plan to suspend international Automated Teller Machine (ATM) and Point of Sales (PoS) transactions on its Naira MasterCard with effect from Saturday, December 31, 2022.

Second Niger Bridge Opened Amidst Jubilation

The Federal Government of Nigeria on Thursday opened the Second Niger Bridge between Asaba, Delta State and Onitsha, Anambra State to motorists for temporary use. The bridge was opened amidst jubilation especially from motorists. The Minister of Works, Mr. Babatunde Fashola (SAN) on Wednesday during the inspection of the bridge said the test run on the bridge would last from December 15, 2022, to January 15, 2023. He added that the temporary opening of the bridge was to decongest traffic from the old bridge during the yuletide.

N80Bn Debt: Telcos Set To Withdraw USSD Services

Telecommunication companies (TELCOS) under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) have stated that as of November this year, N80 billion was owed to them by banks from the Unstructured Supplementary Service Data (USSD). This was made known on Tuesday during an interview with ThisDay by the Association’s chairman, Gbenga Adebayo, adding that telcos may be forced to withdraw from USSD services if the debt is not paid.

Life Insurance Coverage: FEC Approves N9.2bn For Public Servants

The Federal Executive Council (FEC) has approved the sum of N9.24 billion for 2022/2023 Group Life Insurance Cover for public servants, following the presentation of a memorandum by the Head of the Civil Service of the Federation, Dr. Folashade Yemi-Esan.

NDDC Board: Senate Confirms Appointment Of Onochie, Others

The Senate on Tuesday confirmed the appointment of President Muhammadu Buhari’s Special Assistant on New Media, Lauretta Ifeanyi-Onochie from Delta state as the substantive Chairman of the Board of the Niger Delta Development Commission (NDDC). 12 others were also confirmed by the Senate during Tuesday’s plenary, following their screening which was held last week Friday at the National Assembly which includes Samuel Ogbokwu from Bayelsa state as the Board’s Managing Director, who would serve for a tenure of 2 years in order to complete the term of his predecessor.

ARCON: Skit Makers, Others Must Seek Approval For Digital Adverts

The Advertising Practitioners Council of Nigeria (ARCON) has stated that skit makers, bloggers, social media influencers, amongst others musk seek approval before the advertisement of any product or service online. This was disclosed on Monday in a statement by ARCON, Director-General (DG), Olalekan Fadolapo who stated that the Council would soon commence enforcement in order to ensure compliance.

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