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Home » Author Archives: Demola Abimboye

Author Archives: Demola Abimboye

Current business environment not ready for CBN cashless policy, OPS warns

Current business environment not ready for CBN cashless policy, OPS warns

The Organised Private Sector, OPS, has warned against immediate deployment of cashless policy as directed by the Central Bank of Nigeria, CBN. It said “the current business environment and available infrastructure are not ready for such deployment.” In a statement by Director General of Nigeria Employers’ Consultative Association, NECA, Mr. Timothy Olawale, OPS argued that several sub-sectors of the economy ... Read More »

FG approaches World Bank for another $2.5bn loan

FG approaches World Bank for another $2.5bn loan

The Federal Government is currently discussing with the World Bank for a fresh $2.5bn loan. World Bank Vice President for Africa, Hafez Ghanem, disclosed this in an interview in Abuja on Wednesday, Bloomberg reported. Nigeria received $2.4bn from the World Bank in the past year, according to Ghanem. “We are talking about a new set of programmes of about the ... Read More »

Increase social investment, World Bank advises FG

Increase social investment, World Bank advises FG

The World Bank has advised Nigeria to scale up its social investment programmes to address the large number of people living in extreme poverty. The World Bank Country Director, Mr Rachid Benmessaoud, said this on Friday at the inauguration of the Africa Social Safety Nets Report by the National Social Safety Nets Coordinating Office and World Bank, the News Agency ... Read More »

Osun Assembly Whip celebrates outstanding young talents

Osun Assembly Whip celebrates outstanding young talents

In his resolve to identify and deepen discovery of unique young persons in the State of Osun, the Chief Whip of the State House of Assembly, Hon. Tunde Olatunji, has celebrated two exceptional young persons in Academic and Sport. They are both a product of his ‘Tunde Olatunji Education Support Initiatives. The two distinguished young persons are Akinpelu Rafiu, a ... Read More »

House asks CBN to stop charges on deposit plan

House asks CBN to stop charges on deposit plan

The House of Representatives yesterday urged the Central Bank of Nigeria (CBN) to stop implementation of the cashless policy on deposits and withdrawals by the Deposit Money Banks (DMBs). This followed the adoption of the prayers of a motion by Benjamin Okezie Kalu, by the House. According to the lawmaker, the extra charges policy on deposits and withdrawals must be ... Read More »

Oyo Gov. Approves Composition of State Electoral Commission

Oyo Gov. Approves Composition of State Electoral Commission

Oyo State Governor, Engineer Seyi Makinde, yesterday, approved the composition of the Oyo State Independent Electoral Commission (OYSIEC). A statement signed by the Chief Press Secretary to the Governor, Mr. Taiwo Adisa, indicated that the Governor, in a letter dated 18 September, 2019, forwarded the names of eight individuals to the House of Assembly, for consideration as chairman and members ... Read More »

Nigerians spent N1.2bn in cinemas in July, August

Nigerians spent N1.2bn in cinemas in July, August

Nigerians spent over N1,294,602,827 watching movies in the cinemas in July and August, the News Agency of Nigeria, NAN, reports. The figures are according to data provided by the cinemas and compiled by the Cinema Exhibitors Association of Nigeria (CEAN). ‘Bling Lagosians’ led the first week of July by raking in N37,409,372. It was one of the only two Nigerian ... Read More »

EFCC Nabs 25 LAUTECH Students For Internet Fraud

EFCC Nabs 25 LAUTECH Students For Internet Fraud

Operatives from the Advance Fee Fraud Unit of the Economic and Financial Crimes Commission have arrested 25 students of the Ladoke Akintola University of Technology, Ogbomosho, Oyo State, for alleged involvement in cybercrime, including romance scam, possession of forged documents and obtaining money by false pretences. The students, aged between 18 and 29, were arrested in their off-campus hostels following ... Read More »

End crude oil theft – President Buhari orders security chiefs

End crude oil theft – President Buhari orders security chiefs

President Muhammadu Buhari has ordered security chiefs to stop crude oil theft. The Inspector-General of Police Muhammed Adamu disclosed this after the security chiefs met with the President at the State House in Abuja. He said President Buhari specifically charged security agencies to intensify security along the petroleum pipelines and other facilities to check the menace. “Sequel to the improvement ... Read More »

FG, States, Councils Share N720.9 billion in August

FG, States, Councils Share N720.9 billion in August

The Federation Accounts Allocation Committee (FAAC), at its meeting yesterday, shared a total of N720.880 billion to the three tiers of government for the month of August 2019. A communique issued by FAAC indicated that from the total revenue of N720.880 billion, the Federal Government received N301.804 billion; States, N188.925 billion and the 774 Local Government Councils, N142.654 billion. The ... Read More »

Brent crude oil jumps the most in history after Saudi attacks

Brent crude oil jumps the most in history after Saudi attacks

Key Points • Iranian president Hassan Rouhani said the attacks on Aramco were a “reciprocal response” to the aggression against Yemen. • A Saudi-led military coalition said the attack was carried out by “Iranian weapons” and did not originate from Yemen. • President Donald Trump said he was authorizing the release of oil from the Strategic Petroleum Reserve to keep ... Read More »

We are determined to fix education sector in Oyo — Makinde

We are determined to fix education sector in Oyo — Makinde

…says my time at Bishop Philips Academy laid foundation for my future as governor The Governor of Oyo State, Engineer Seyi Makinde, said on Monday that his administration was determined to fix the education sector in the state. The Governor, who spoke at the kick-off of the free distribution of customised textbooks and exercise books to students in Oyo State, ... Read More »

Nigerian businessman drags Dubai Bank to court over bogus interest charges

Nigerian businessman drags Dubai Bank to court over bogus interest charges

In a bid to safeguard his business interest against alleged excessive and bogus interest charges, a Dubai-based Nigerian businessman, Adedoyin Adeyinka, alongside his two companies – UNICO MARINE DWC LLC, and ELIZABETH SHIPPING LTD – have dragged Dubai United Arab Emirates bank, National Bank of Fujairah PJSC, before a Federal High Court in Lagos, Nigeria. In a statement of claim ... Read More »

Tribunal judgment: Truth has prevailed—Makinde

Tribunal judgment: Truth has prevailed—Makinde

Oyo State Governor, Engineer Seyi Makinde, yesterday, described the victory of the Peoples Democratic Party (PDP) on which platform he won the March 9, 2019 governorship election in the state, at the Governorship Election Petition Tribunal, as the triumph of truth over falsehood. This was as the Governor appreciated the people of the State for standing by him before, during ... Read More »

Why we revoked 26,000 hectares forest allocated to Ajimobi — Oyo Govt.

…Education ministry set to return N28 million illegal fees to parents The government of Oyo State, has explained why it cancelled 26,000 hectares forest lands which was allocated to the immediate past Governor Abiola Ajimobi during his administration. The state government which made the explanation through the Commissioner for Environment and Natural Resources, Hon. Kehinde Ayoola, said that it was ... Read More »

Joshua tipped to reclaim titles

Joshua tipped to reclaim titles

ANTHONY Joshua has been tipped as a strong favourite with bookmakers to regain the WBA, WBO, IBO and IBF heavyweight titles which he lost to Ruiz, when they meet in a purpose-built arena in Diriyah, on the outskirts of the Saudi Arabian capital Riyadh. But Ruiz will not be taking anything lightly. “I don’t underestimate any fighter,” Ruiz said. “I ... Read More »

Presidential election dispute: Buhari’s COS, Kyari, others storm court for ruling

Presidential election dispute: Buhari’s COS, Kyari, others storm court for ruling

Party and Presidency dignitaries have been trooping to the tribunal this morning for the judgment in the election petition by Atiku Abubakar and the Peoples Democratic Party, PDP. The Chief of Staff (COS) to President Muhammad Buhari, Abba Kyari, is the latest of dignitaries to arrive at the venue of the much expected judgment in the petition by PDP and ... Read More »

We’re open to business, in a hurry to develop Oyo — Makinde

… To partner Federal Mortgage Bank on housing for workers Oyo State Governor, Engineer Seyi Makinde, said on Tuesday that his administration is in a hurry to develop Oyo State so as to achieve a turnaround of its economy within a short time. The Governor, in a statement by his Chief Press Secretary, Taiwo Adisa, said that the state was ... Read More »

Aribo joins Balogun, George and Martins in Super Eagles’ hallowed ranks

Aribo joins Balogun, George and Martins in Super Eagles’ hallowed ranks

The midfielder has joined a long list of Nigerians to score in their first game for the Super Eagles Joe Aribo has joined the likes of Teslim Balogun, Brian Idowu, Julius Aghahowa, Finidi George, Victor Agali and Obafemi Martins as Nigerians to have scored on their international debut. The Rangers midfielder joined the revered ranks after getting the Super Eagles’ ... Read More »

Shiites have right to practice faith – Falana

Shiites have right to practice faith – Falana

Femi Falana, senior advocate of Nigeria and a human rights activist has affirmed the right of the Shiite Islamic sect to practice their religion. He recalled that the Federal government clarified IMN’s proscription to the effect that the fundamental right of the Shiites to freedom of religion has not been abrogated. “To the extent that the Shiites are observing a ... Read More »