31/05/2024
BREAKING NEWS: COMMENCEMENT OF AN INDEFINITE NATIONWIDE STRIKE OVER THE
INCONCLUSIVE NATIONAL MINIMUM WAGE NEGOTIATION AND REFUSAL TO
REVERSE THE HIKE IN ELECTRICITY TARIF
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13/01/2024
Dangote Refinery Begins Production!
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12/01/2024
PRESIDENT TINUBU SUSPENDS NATIONAL SOCIAL INVESTMENT PROGRAMME
President Bola Ahmed Tinubu, GCFR, has suspended all administered programmes by the National Social Investment Programme Agency (NSIPA).
This is further to the ongoing investigation of alleged malfeasance in the management of the agency and its programmes.
All four (4) Programmes administered by NSIPA, viz; N-Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme and Home Grown School Feeding Programme have been suspended for a period of six (6) weeks in the first instance.
President Bola Ahmed Tinubu has also raised significant concerns regarding operational lapses and improprieties surrounding payments to the Programmes’ beneficiaries.
He has therefore constituted a ministerial panel to conduct a thorough review of the Agency's operations with a view to recommend necessary reforms of the NSIPA.
During the period of this suspension, all NSIPA-related activities, including but not limited to distributions, events, payments, collaborations and registrations are now frozen.
The President wishes to assure the stakeholders and all Nigerians that his administration remains committed to a swift and unbiased process that will ensure that, going forward, social intervention programmes will work exactly as intended, to the benefit of the most vulnerable Nigerians.
Segun Imohiosen
Director Information
For: Secretary to the Government of the Federation
11/01/2024
Nigeria Lady, Amarachi committed su!c!de yesterday.
She is a staff of Globus Bank, Ikorodu, Lagos.
She left a su!c!de note where she listed the reasons why she t00k her l!fe.
May her soul rest in peace.
VIEWERS DISCRETION ADVISED
11/01/2024
"People Will Be Hungry For The Next Four Years As The Naira Won't Appreciate"
- Kenneth Okonkwo, Labour Party Chieftain
-Arise news
11/01/2024
BREAKING News 📰 : The Central Bank of Nigeria has, with immediate effect, terminated the services of the entire board of Polaris bank, Titan bank, and Keystone Bank
The Central Bank of Nigeria has taken a significant step by terminating the services of the entire board of Polaris Bank, Titan Bank, and Keystone Bank. This decision was made following a meeting led by the apex bank’s governor, Yemi Cardoso, and was based on the recommendation of the Special Investigator, Jim Obazee, who was appointed by President Bola Tinubu to probe the activities of the CBN and other relevant establishments. The report of the special investigation accused the immediate past CBN governor, Godwin Emefiele, of acquiring banks for himself through proxies and recommended that the Federal Government reverse the sale of the banks and take them over.
The affected banks are Union Bank, Polaris Bank, Keystone Bank, and Titan Trust Bank. The CBN reeled out issues of non-compliance and other infractions committed by the affected banks, and it is expected that new management and directors will be appointed. The CBN will be issuing an official statement shortly to provide further details.
The decision to dissolve the boards was taken after a meeting between the CBN, Yemi Cardoso, Jim Obazee, and the boards of the four banks, including Titan Trust Bank’s investors. The report of the Special Investigator showed that the former CBN governor, Godwin Emefiele, allegedly used his proxies to acquire Union Bank, Keystone Bank, and Polaris Bank. The acquisitions were carried out separately over time, and the report recommended that the Federal Government reverse the sale of the banks and take them over.
This development has significant implications for the banking sector in Nigeria and is likely to lead to major changes in the leadership and management of the affected banks. The CBN's decision reflects its commitment to ensuring the stability and integrity of the country's financial system. It also underscores the importance of transparency and accountability in the operations of financial institutions.
Citations:
[1] https://saharareporters.com/2024/01/10/nigeria-central-bank-sacks-titan-trust-union-bank-keystone-bank-polaris-bank-boards
[2] https://www.arise.tv/cbn-sacks-boards-of-union-keystone-polaris-and-titan-banks/
[3] https://businessday.ng/news/article/cbn-ousts-boards-of-titan-trust-union-keystone-polaris-banks/
[4] https://www.channelstv.com/2024/01/10/cbn-sacks-boards-of-union-keystone-and-polaris-banks/
[5] https://punchng.com/breaking-cbn-sacks-boards-of-union-titan-keystone-polaris-banks/
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"People Will Be Hungry For The Next Four Years As The Naira Won't Appreciate" - Kenneth Okonkwo, Labour Party Chieftain -Arise news
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