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The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite action to increase their capital base from the current 25 billion naira. CBN Governor Olayemi Cardoso stated this during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja, when the MPC hiked the interest rate by 22.75% to 24.75%.The apex bank chief said the MPC exa...

President Bola Tinubu has declared that individuals involved in despicable crimes such as kidnapping must be treated as terrorists.The President made the declaration on Tuesday at a Ramadan dinner with members of the Federal judiciary led by the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola.Reiterating the government’s resolve to defeat banditry, the President said those who resort to ki...

The Nigerian Army says soldiers killed in the Okuama community in Delta State are to be buried on Wednesday, March 27, 2024, at the National Cemetery, Abuja.This was revealed in a statement posted on the Nigerian Army’s X handle on Tuesday, adding that the burial will be held by 3pm.President Bola Tinubu is billed to be the Special Guest of Honour at the event.At least 17 military p...

Abductors of the Edo State chairman of the Peoples Democratic Party (PDP), Tony Aziegbemi, have reportedly opened talks with his family members.A family source who asked not to be named, revealed this to journalists in Benin City. The source added that the abductors made contact with his family on Friday, demanding the sum of 500 million naira as ransom. He however did not speak...

The National Drug Law Enforcement Agency (NDLEA) says its operatives have seized over 44,948.1 kilograms of illicit drugs across Lagos, Edo and Ondo states.The agency’s Director of Media and Advocacy, Femi Babafemi, also confirmed the arrest of eight suspects during the operations. In a statement, the anti-narcotics agency revealed that it also seized 11 vehicles owned by the drug cartels....

Amidst the current economic challenges in the country, President Bola Tinubu has cancelled any form of celebration of his 72nd birthday.President Tinubu according to the statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, will clock 72 years on the 29th of March.The President has however advised his associates and well-wishers that intend to celebrate with him on that day to ...

President Bola Tinubu has hailed the National Security Agency, Nuhu Ribadu and other security agencies over the safe release of the Kuriga school children in Kaduna State.About 287, were kidnapped on the 6th of March when the gunmen on motorcycles rode through their school, taking them away in an incident that sparked outrage and condemnation from several quarters including the UN children’s welfare agency UNICEF....

Scores of schoolchildren abducted from Kuriga, Kaduna State have been released, two weeks after they were taken away in what was one of Nigeria’s largest mass kidnappings in years.The students, about 287, were kidnapped when the gunmen on motorcycles rode through their school, taking them away in an incident that sparked outrage and condemnation from several quarters including the UN children’s welfare agency UN...

The Nigeria Police Force (NPF) has confirmed the murder of six policemen in Ohoro Forest in Ughelli North Local Government Area of Delta State but said five suspects have been arrested in connection with the crime.Force spokesman Olumuyiwa Adejobi described the incident as a devastating loss. He said the officers were ambushed while on a rescue mission, adding that six others are currently missing in ...

A Federal High Court in Abuja has fixed April 30 for judgment in two separate suits challenging the Peoples Democratic Party, PDP’s primaries that produced Asue Ighodalo as the party’s governorship candidate for the September 21 Edo poll. Justice Inyang Ekwo fixed the date, after counsel for the parties adopted their processes and presented their arguments for and against the suits. The first suit was filed by Adizetu Umoru, while the second s...