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The Central Bank of Nigeria has said it will sanction banks assisting the operations of unlicensed foreign firms.It stated this in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’, signed by the Director, Financial Policy and Regulation Department, Muhammad Musa.According to the guidelines, representative offices of foreign banks serve an important purpose of showcasing the brand and services of its paren...

The House of Representatives has queried the Nigerian Communication Commission over the 1,014 projects under the Universal Service Provision Fund for an e-library project that was executed for over two billion naira.The House frowned at a request by the commission for 700 billion naira to ensure that 27 million Nigerians who do not have access to telecommunications get coverage.The House raised the queries when the Executive Vice Chairman of the NCC, Profes...

Senate President, Ahmad Lawan, says President Muhammadu Buhari gave assent to 104 out of the 162 bills passed to him by the 9th Senate.Lawan and Speaker of the House of Representatives, Femi Gbajabiamila, declared that the 9th National Assembly performed far better than five others before it, since 1999.The 9th Assembly presiding officers also lamented the misperception and misunderstanding of the 9th National Assembly by some Nigerians who wrongly labelled...

The Federal Government has decried the low level of insurance penetration in Africa and the poor contribution of the sector to the economy of most African economies.The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at the 2023 West African Insurance Companies Association Education Conference in Lagos.Speaking on the theme repositioning the insurance industry in West Africa for competitiveness, Ahmed called for the promotion of a...

Lionel Messi has returned to training with Paris St Germain following his suspension over an unauthorised trip to Saudi Arabia.  The Ligue 1 club confirmed on their official Twitter account on Monday morning that the 35-year-old Argentina international was back among the fold after he was fined and suspended for undertaking a promotional visit to the Middle East country without permission.  The post, which was accompanied by a photograph of the World Cup winner in ...

Eight hundred and thirty-six Nigerians fleeing war-torn Sudanhave arrived in Abuja, the nation’s capital.The figures make up the returnees to be successfully airliftedby the Federal Government from the North African country.On ground to receive them at the airport are officials of theNational Emergency Management Agency (NEMA), theNigerians in Diaspora Commission (NIDCOM) as well assecurity officials....

The Federal Government says the agitation for more wagesby workers is not peculiar to Nigeria, but a global issue.The Minister of Labour and Employment Chris Ngige said thisafter receiving the “Excellence in Public Service Award” inAbuja.In tackling the tide of strikes in Nigeria, the ministerrecommended social dialogue, as recognized by theInternational Labour Organization (ILO).This for him ...

President Muhammadu Buhari has revealed why he did notprefer any presidential candidate to others during thepresidential primaries of the ruling All Progressives Congress(APC).The President said he had learnt from past experience as hefailed to become the country’s leader three times until thefourth attempt through a democratic process.The President spoke in Lafia during the 2023 Annual SirAhmadu Bello Memoria...

The National Industrial Court of Nigeria sitting in Benin City,has declared that the June 8, 2022 directive of the stategovernment suspending trade unions’ activities in tertiaryinstitutions in the state as unconstitutional, illegal, null andvoid.Recall that the Academic Staff Union of Universities, AmbroseAlli University chapter, had approached the court through itslawyer, Kingsley Obamogie to challenge the directive of...

The Presidential Election Petitions Tribunal in Abuja isexpected to begin pre-hearing in the petitions challenging theoutcome of the February 25 presidential election today.The candidates of the People's Democratic Party in theelection, Atiku Abubakar and that of the Labour Party, PeterObi are both challenging the outcome of the election wherethe Independent National Electoral Commission (INC)declared Bola Tinubu of the rulin...