News Update

Bureaux De Change operators have rejected Central Bank of Nigeria, CBN’s new regulatory guidelines that pegged minimum capital base at N2 billion for Tier-1 and N500 million for Tier-2 operators. Rising from an emergency meeting in Lagos on Tuesday, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Dr. Aminu Gwadabe, said the capital requirement set by the CBN is huge and far above global best practices.

Vice President Kashim Shettima on Tuesday led a procession of high-profile dignitaries in paying last respects to the late former Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Lamorde who was laid to rest in Abuja. The funeral ceremony took place at the National Mosque, Abuja.

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The Senate on Monday passed the National Anthem Bill 2024, which seeks to reintroduce the old anthem: “Nigeria, We Hail Thee.” Last week, the Red Chamber had passed the Bill for first and second reading and committed it to its Committee on Judiciary, Human Rights and Legal Matters for further legislative work.

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President Bola Tinubu yesterday praised the Minister of the Federal Capital Territory, FCT, Nyesom Wike, for restoring life to the nation’s capital. He applauded the minister when he commissioned the Southern Parkway, from Christian Centre to Ring Road One, a project that was initiated 13 years ago.

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Former Vice President, Atiku Abubakar, has described the one year administration of President Bola Tinubu as one of trial and error, saying that policies of the administration rather than create prosperity have pauperised the poor, made the rich bankrupt and inflicted the worst economic crisis on majority of Nigerians.

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The Labour Party, LP, caucus in the House of Representatives has described President Bola Tinubu’s one year in office as a reign of economic hardship, insecurity and hopelessness, which they said negates his Renewed Hope Agenda campaign promises. In a state-of-the-nation statement in Abuja, on Tuesday by the Caucus Leader, Afam Victor Ogene, the LP caucus said it was bewildering that the economy of the nation has dangerously continued on a free fall.
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 The Kogi State Police Command has neutralised two kidnappers operating in Ankumi forest, Obajana. This was contained in a statement issued on Tuesday by the Public Relations Officer of the command, SP William Aya, in Lokoja.

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 The National Drug Law Enforcement Agency has confirmed the arrest of a couple, Bolanle and Olayinka Dauda, for running a cocaine trafficking cartel. It said multi-billion-naira worth of illicit drugs were recovered in two major operations in Lagos and Ogun states. The spokesperson for the agency, Femi Babafemi, confirmed this in a statement on Tuesday.

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 The Senate on Tuesday pardoned and recalled Bauchi Central Senator, Abdul Ahmed Ningi. The recall process was initiated after a motion moved by Deputy Minority Leader, Sen. Abba Moro, who expressed regret on behalf of the suspended senator.

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Manchester United’s minority owner, Sir Jim Ratcliffe, is offering staff at the club early payment of a bonus, as he seeks to trim the number of employees at the Old Trafford.
Ratcliffe completed a £1.3billion deal for 27.7% of United in February and is attempting to revolutionise the way things work across the board.
According to Mirror Football, the British billionaire wants to cut around a quarter of all staff as part of a money-saving effort.
Employees who are not a scout or on the playing staff were emailed on Tuesday and told to return to the club’s offices in London or Manchester.
Those who are not ready to do so, are being offered the chance to leave the organisation with a bonus, which should ordinarily be paid in September.
They have been given until June 5 to decide whether to take “voluntary resignation” or they must return to the office by June 1.

from dailypost