Category: Money
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Student loan: FG Concludes repayment plans ahead launch
Ahead of the official launch of the Student Loan Scheme on February 21, 2024, the Nigeria Education Loan Fund said it is finalising repayment modalities. Although it confirmed that the 10 per cent direct deduction from the beneficiaries’ salaries still stands, applicants can pay higher percentages or 100 per cent upfront if…
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Lagos residents raise concern as condom prices skyrocket
Some residents of Lagos have raised concerns over the increasing cost of condoms, saying it will lead to unsafe sex and unintended pregnancies among citizens. In separate interviews on Saturday, the residents said that access to affordable contraceptives was critical in ensuring the health of both partners, protection from sexually transmitted infections (STIs), and…
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NANS Calls for suspension of NLC, TUC proposed strike
The National Association of Nigerian Students, NANS, has appealed to the Nigeria Labour Congress(NLC) and the Trade Union Congress(TUC) to suspend their proposed strike in the interest of the nation. NANS National President, Mr Pedro Obi, made the appeal at a news conference in Abeokuta on Saturday. The NLC and TUC…
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NERC sanctions DISCOS for Overbilling
The Nigerian Electricity Regulatory Commission (NERC), has imposed sanctions on the eleven Electricity Distribution Companies (DisCos) over their failure to comply with its directive on capping of estimated bills for customers who are not yet metered. NERC, in a statement issued in Abuja on Friday said the sanctions were imposed following a review of the…
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EFCC Declares Emefiele’s Wife, Three Others Wanted
The Economic and Financial Crimes Commission (EFCC) yesterday declared Margaret Dumbiri Emefiele, wife of the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele wanted. Also declared wanted by the anti-graft agency were Eric Ocheme Odoh (m), Jonathan Omoile (m) and Anita Joy Omoile (f) for alleged for allegedly conniving with the…
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CBN stops granting loans to Federal Government
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will halt its Ways and Means loans to the Federal Government. Cardoso made this known on Friday while appearing before the Senate Committee on Banking, Insurance and other Finance Institutions, in Abuja. According to Cardoso,…
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Nigerians, others Nabbed in US Over $9.5Million Fraud Scheme
By Doris Israel Ijeoma The United States Attorney’s Office for the Maryland District has announced the arrest of 10 individuals on February 7. The arrests, made at various locations throughout Maryland, were related to an alleged money laundering conspiracy involving over $9.5 million in proceeds from fraud schemes. Among those arrested…
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BREAKING: Senate drills CBN Governor Cardoso, other officials
The Senate Committee on Banking, Insurance and Financial Institutions is holding a session with Central Bank of Nigeria Governor Olayemi Cardoso. Cardoso led other officials of CBN to the Red Chambers on Friday morning amid the rising cost of living and hardship Nigerians are grappling with. Barely two days ago Cardoso appeared before the members…
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CBN Reveals Reason For Lifting Forex Restriction On 43 Items
The Central Bank of Nigeria has outlined reasons for removing foreign exchange restrictions on 43 items. Recall that on Thursday, the apex bank lifted the forex restriction on rice, cement and 41 other items. The decision generated mixed reactions across the financial sector over its implications. While some hailed the decision, others believed…
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Five Things To Know About New FIRS Boss, Zacch Adedeji
President Bola Ahmed Tinubu has approved the appointment of Hon. Zacch Adedeji as the new Acting Executive Chairman of the Federal Inland Revenue Service (FIRS). Presidential spokesman, Ajuri Ngelale, announced this in a statement on Thursday. He said the president directed the erstwhile FIRS Chairman, Mr. Muhammad Nami, to proceed on 3 months of…