FG Makes U-Turn, Cancels Reopening Of Schools

Adamu Adamu, Minister of Education

The Minister of Education, Adamu Adamu has cancelled the reopening of schools, stating that it was unsafe for Nigerian students. Addressing State House correspondents after the virtual meeting of the Federal Executive Council (FEC) in Abuja on Wednesday, Adamu stated that the West African Examinations Council (WAEC) cannot determine the resumption date of schools for Nigeria. Adamu said the Minister of State for Education, Emeka Nwajiuba, was misquoted when he spoke on the matter during a Presidential Task Force Briefing on COVID-19 in Abuja on Monday. Nwajiuba was reported to…

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Osinbajo Denies Receiving N4bn from Magu

Vice President Osinbajo

Vice President Yemi Osinbajo has described online reports claiming that embattled acting Chairman of the Economic and Financial Crimes Commission (EFCC) Acting Chairman, Ibrahim Magu, gave him N4billion as false and baseless fabrications. The Vice President, in a statement issued on Wednesday night by his spokesman, Mr. Laolu Akande, said he would not be distracted by campaigns of lies and calumny. The statement reads: OFFICE OF THE VICE PRESIDENT PRESS STATEMENT VP OSINBAJO WILL NOT BE DISTRACTED BY CAMPAIGNS OF LIES & CALUMNY The attention of the Office of the…

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Panel Probes Magu Over Alleged Ownership Of Dubai Properties

Magu Ibrahim

The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu’s problems worsened on Wednesday as the presidential panel investigating corruption allegations against him shifted its focus to properties he allegedly acquired in Dubai, the United Arab Emirates (UAE). The suspended EFCC boss, who has been in the police custody since his arrest on Monday, was interrogated for the third time on Wednesday. It was also gathered that fresh allegations emerged against Magu as the panel continued its sitting just as he was again detained after Wednesday’s…

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Face Mask Can Cause Failed ATM transactions, Says Fidelity Bank

Fidelity bank

Fidelity Bank has advised customers to remove their face masks when carrying out transactions through Automated Teller Machines (ATMs) to ensure that their faces are properly recognized. In an email to its customers on measures to keep transactions protected, Fidelity Bank said, “Wearing of face masks is safety and precautionary measure we must all adhere to in this period of the COVID-19 pandemic. “However, we advise that you remove your face mask while making withdrawals or carrying out ATM transactions to allow our ATM to properly recognize you. “Fidelity Bank…

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Access Bank to acquire 100% stake in Zambia’s Cavmont Bank Ltd

Herbert Wigwe

Access Bank Plc announced today that its wholly-owned subsidiary in Zambia, Access Bank Zambia Limited is in advance discussions with Cavmont Capital Holdings Zambia Plc to acquire a 100% stake in Cavmont Bank Zambia Limited company. The lender’s statement reads: “Access Bank Plc announces today that its wholly-owned subsidiary in Zambia, Access Bank Zambia Limited has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc regarding a potential transaction between Access Bank Zambia and Cavmont Bank Limited a wholly-owned subsidiary of Cavmont Capital. The potential transaction relates to the…

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TAJBank Non Interest Bank Launches The Nation’s First Online Shopping Mall

TJ Bank

Nigeria’s most innovative Non-Interest Bank, TAJBank, has announced the highly anticipated launch of TAJMall, the nation’s first ethical online shopping mall. The highly anticipated launch of the e-commerce site, which held recently, is coming close on the heels of the commencement of its Agency Banking Network which began in June across thirteen (13) states in the country. To celebrate this milestone, the brand will be holding a week-long TAJMall campaign from 6th – 11th July 2020 to sensitize and also reward its new customers to its platform. “This is a great milestone…

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Covid-19: Access Bank Confirms The Death Of Onne Branch Staff, Activates BCP.

Access bank

Access Bank Plc has confirmed the death of one of its Onne branch, Rivers State staff of Coronavirus. The confirmation was in a statement issued by the bank today. The statement says: “We have received unfortunate confirmation of the loss of our staff who until his death worked at our Onne Branch, Rivers State. “Our thoughts and prayers are with our deceased colleague’s family at this time as we pray for his eternal rest”. The bank however said that the branch has been shut down for disinfection and will not…

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CBN Covid-19 Loans: About 2000 Applicants Benefit From South-East, South-South

Emefiele

The National Chairman, Isun Multipurpose Cooperative Society, Umuahia, Isaac Nkole, which facilitates the disbursement of CBN COVID-19 loan in the South-East and South-South, said at least 2,000 persons had so far benefited from the facility. Nkole stated this in a statement made available to the News Agency of Nigeria (NAN) in Umuahia on Tuesday. He further stated that the facility had provided succor to benefiting small and medium enterprises (SMEs) and households in the two zones. According to him, the loan has helped a number of households and SMEs to…

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Naira Remains Stable On Black Market After CBN’ FX Devaluation

CBN FOREX

Nigeria’s currency on Wednesday remained unchanged on the black market as it traded at an average rate of N459/$. The naira stability follows increased liquidity and low demand for dollars by the end-users. While the dollar was trading at N458 at Festac, it was trading at N460 in Apapa areas of Lagos. The Central Bank of Nigeria (CBN) on Tuesday adjusted the exchange rate at the official window by 5.54 percent to N381 per dollar from N361/$, a move seen as helping to curb roundtripping. The foreign exchange daily turnover…

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Lawmakers Amend Police Act, Approves Four-Year Tenure For IG

Adamu Mohammed

The Senate, on Tuesday, passed a bill, which amended the Police Act and prescribed among others, a four-year single tenure for the Inspector-General of Police. The proposed legislation is titled, ‘Police Act CAP P19 LFN 2004 (Repeal and Re-enactment) Bill, 2020.’ The bill stated that the tenure was introduced to give stability to the office of the IG. It also stated that the appointment and removal from office of the police boss would henceforth be based on the advice of the Police Council. The legislative action followed the consideration of…

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