News Update

Federal Capital Territory, FCT, Minister Nyesom Wike on Monday shut down the International Conference Centre, ICC, for eight months for lack of maintenance. The minister, who announced this after inspecting the facility, cancelled all events and activities booked at the venue.

The Central Bank of Nigeria, CBN, has prohibited the use of foreign currency, FCY as collateral for Naira loans. This directive, contained in a circular by Acting Director of the Banking Supervision Department, Adetona S. Adedeji, represents a significant shift in the CBN’s approach to loan collateralization.

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A notorious bandit who terrorized sections of Katsina and Zamfara states has reportedly been killed by a rival gang. Reliable sources from Batsari local government of Katsina State told Daily Trust that the bandit known as Dangote was killed in the early hours of Sunday.

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 The Economic and Financial Crimes Commission, EFCC, says it has recovered N30 billion in the alleged money laundering case against the suspended Minister of Humanitarian Affairs, Betta Edu, and the ministry. It also revealed that 50 bank accounts were currently being investigated.

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 UAE carrier, Emirates, is expected to resume its flights to Nigeria in June this year, the federal government has hinted. This is coming almost two years after the airline suspended flights to Nigeria over issues bothering on trapped funds, among others.

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The Edo State House of Assembly on Monday impeached the embattled state deputy governor, Philip Shaibu following the adoption of the report of the seven-man investigative panel set up by the state Chief Judge to probe allegations of misconduct against him.

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 A Federal High Court in Abuja has stopped a former Chairman of the Peoples Democratic Party, PDP, Uche Secondus, from participating in the party’s meetings pending the determination of a motion on notice. Also, the National Chairman, the Secretary of the Party, the National Executive Council, and the Board of Trustees were ordered not to allow Secondus to attend any of its meetings until the suit is determined.

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Gunmen dressed in army uniform reportedly abducted a popular ex-militant leader, High Chief Sobomabo Jackrich, aka Egberipapa, from his Usokun country home in Degema Local Government Area of Rivers State. Sources said the gunmen stormed his home around 3:00 am on Monday, killed two of his lieutenants and took him away to an unknown place.

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The Lagos State Special Offences Court in Ikeja, on Monday, sent back the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, to the custody of the Economic and Financial Crimes Commission. Justice Rahman Oshodi made the remand order shortly after the anti-graft agency arraigned Emefiele on 23 counts bordering on “abuse of office, accepting gratifications, corrupt demand, among others.