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CBN Introduces New ATM Transaction Fees Up to N500, Effective March 1The Central Bank of Nigeria (CBN) has announced a r...
13/02/2025

CBN Introduces New ATM Transaction Fees Up to N500, Effective March 1

The Central Bank of Nigeria (CBN) has announced a review of Automated Teller Machine (ATM) transaction fees, set to take effect from March 1, 2025. The revision, aimed at improving efficiency and boosting ATM deployment, updates the charges outlined in the CBN Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions 2020.

Under the new structure, withdrawals from a customer’s own bank’s ATM (On-Us transactions) will remain free. However, withdrawals from on-site ATMs will now attract a N100 fee per N20,000 withdrawn.

For withdrawals from other banks’ ATMs (Not-On-Us transactions), off-site ATMs will charge N100, along with an additional surcharge of up to N500 per N20,000 withdrawn. This surcharge will go directly to the ATM deployer and will be disclosed to customers at the point of withdrawal.

International ATM withdrawals will be subject to cost recovery, meaning banks will pass on the exact charges imposed by international acquirers to customers.

The CBN expects these adjustments to enhance ATM availability while ensuring fair pricing for financial services users.

A former Executive Secretary of the National Health Insurance Scheme (NHIS), Professor Usman Yusuf, has been arrested by...
01/02/2025

A former Executive Secretary of the National Health Insurance Scheme (NHIS), Professor Usman Yusuf, has been arrested by the Economic and Financial Crimes Commission (EFCC).

The Head of Media and Publicity for the Commission, Dele Oyewale, confirmed this to Channels Television in a telephone conversation on Wednesday.

Professor Yusuf was arrested by EFCC operatives who raided his residence on Wednesday.

According to the Commission, he will be arraigned on Thursday 30th January, 2025.

📺:

CBN raises interest rate again to 27.5%The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has again  rai...
27/11/2024

CBN raises interest rate again to 27.5%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has again  raised the benchmark interest rate by 25 basis points from 27.25% to 27.50%

CBN Governor Olayemi Cardoso disclosed this to journalists at the end of the two-day  298th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Nov. 26.

Reading the communique of the 298th meeting of the committee on Tuesday in Abuja, Cardoso, said all members also voted to retain the acemetric corridor at +500 to – 100 basis points.

The CBN governor disclosed that the apex Bank’s foreign reserves rose to $40.88 billion as of November 21, 2024, from $40.06 as at the end of October 2024.

The MPC also retained the Cash Reserve Ratio of deposit money banks at 15 per cent while it held the liquidity ratio as 30 per cent.

Recall the MPC raised the MPR, which is the baseline interest rate, by 50 basis points to 27.25 per cent from 26.75 per cent at its 297th meeting in September.

Cardoso said: “The Monetary Policy Committee (MPC) voted to raise Monetary Policy Rate (MPR) by 25bbasis points from 27.25% to 27.50%; retains Cash Reserve Ratio (CRR) for Deposit Money Banks (DMBs) at 50% and 16% for Merchant Banks.

“The committee retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.”

Cardoso had said in July that the decision to raise the benchmark interest rate was an aggressive attempt to tame the persistent rise in food inflation and the nation’s headline inflation rate.

Hmmm
23/11/2024

Hmmm

Can anyone stop Seyi Tinubu from being the next Governor of Lagos State now that he's been endorsed by an "unknown group...
19/11/2024

Can anyone stop Seyi Tinubu from being the next Governor of Lagos State now that he's been endorsed by an "unknown group"?

Elon Musk Named Top Sponsor of Rhapsody of Realities: A Surprising Partnership in Spreading the Gospel!Who would have kn...
16/11/2024

Elon Musk Named Top Sponsor of Rhapsody of Realities: A Surprising Partnership in Spreading the Gospel!

Who would have known that the famous Elon Musk will be counted among the mega sponsors of the gospel of Jesus Christ? It will be an understatement to assert that indeed there will be surprises in heaven.

Matthew 20:16a is truism; it says, “So the last shall be first, and the first last:...” Strive not to fulfil this scripture.

Who would have known that Elon Musk has been involved in the sponsorship and distribution of the Rhapsody of Realities by Rev. Dr Chris Oyakhilome.

Today, Musk won the Rhapsody of Realities Top Partner of the year in the Loveworld Nation aka Christ Embassy.

God can use anybody!

Nnamdi Abana
November 16, 2024

Another explosion CNG cylinderThis bus was reported to have converted from petrol consumption to Compressed Natural Gas ...
26/10/2024

Another explosion CNG cylinder

This bus was reported to have converted from petrol consumption to Compressed Natural Gas (CNG).

Sadly, all 18 Passengers in this 18 seater bus were burnt beyond recognition along G-hostel junction, Abakiliki.

BREAKING: 3 Dead as Helicopter Crashes in Port Harcourt, Details Emerge A helicopter crash in Port Harcourt, Rivers Stat...
24/10/2024

BREAKING: 3 Dead as Helicopter Crashes in Port Harcourt, Details Emerge

A helicopter crash in Port Harcourt, Rivers State capital, has claimed the lives of three people. The tragic incident has left the community in shock.

The Ministry of Aviation and Aerospace Development confirmed the crash through a statement released by its spokesperson, Odutayo Oluseyi, on Thursday, October 24. This prompt acknowledgement demonstrates the ministry's commitment to transparency. Three people died in Rivers' helicopter crashes. According to the statement, the circumstances of the crash are still under investigation. Authorities are working to determine the cause of the incident, including the type of helicopter involved.

This tragic event highlights concerns about aviation safety in Nigeria. Ensuring air travel safety is crucial, and this incident underscores the need for stringent maintenance and operational standards. As investigations continue, the Ministry of Aviation and Aerospace Development, along with relevant agencies, will work tirelessly to prevent similar tragedies and ensure the safety of air travellers. How many people died in Rivers' helicopter crashes? The statement disclosed that eight persons were on board before the helicopter crashed into the water, adding that three bodies have been recovered so far. The statement reads in part: "No Emergency Locator Transmitter (ELT) signal was received, manual efforts to plot the location of the accident are underway, and all available resources, including the military and low-flying aircraft, have been deployed to assist in locating and rescuing any survivor(s). So far, three bodies have been recovered."

Okonjo Iweala responds, calls Simon "Ikpa"'s tweet outrageous.
24/10/2024

Okonjo Iweala responds, calls Simon "Ikpa"'s tweet outrageous.

23/10/2024

Uju Kennedy: Good riddance to bad rubbish.

23/10/2024

Why Presidents, Governors Avoid Handing Over Power To Deputies — Osoba

Former Ogun State Governor, Olusegun Osoba, on Tuesday, stated that suspicion and lacWhy Presidents, Governors Avoid Handing Over Power To Deputies — Osoba by dododawa1: 9:29am

Former Ogun State Governor, Olusegun Osoba, on Tuesday, stated that suspicion and lack of trust are the primary reasons many presidents and governors avoid transferring leadership to their deputies.

The veteran journalist expressed these concerns at the 3rd Annual Conference of the Forum of Former Deputy Governors of Nigeria, held in Abuja.

The event, themed “Strategic Solutions for Good Governance, Food Security and Sustainable Growth in Nigeria,” highlighted these governance challenges.

While describing the situation as unfortunate, Osoba noted that it is a global issue, not confined to Nigeria or Africa.

The former governor cited the political tension between former United States Vice President Al Gore and his principal, Bill Clinton, as an example.

He said, “It is most unfortunate. It is not just in Africa — it happens all over the world. You will recall the case of Al Gore and Bill Clinton. Al Gore was his vice president, and he contested the presidency. But because he thought Clinton might be a liability, he didn’t involve him in his campaign.

So, this issue is not limited to Nigeria. It is rare to see a deputy succeeding their boss. However, there are still opportunities for such individuals in this country. As I mentioned earlier, the array of leaders who are still young and passionate about Nigeria, even from what we have seen at this conference, gives us confidence that one day, one of them will emerge as the president of this country.

Osoba also lamented the persistent trend of governors plotting or sponsoring impeachment against their deputies.

When asked whether the constitution could be amended to protect deputies from their superiors in government, the politician said there was little anyone could do.

Again, you can’t amend the constitution against governors using their influence and powers to impeach their deputies. There is nothing anybody can do about it. If the State House of Assembly is friendly with the governor, he can attempt anything, including impeaching his deputy.

What we should continue to promote is for leaders to build relationships. It is not by law but through relationship. As they say, you wash your hands with both the left and right—it’s through cooperation,” he stated.

The National Chairman of the ruling All Progressives Congress, Dr Abdullahi Ganduje, also shared his perspective, acknowledging that this is a controversial issue many leaders are reluctant to discuss.

Ganduje, however, lightened the mood by joking that even God Almighty didn’t consider having a deputy during creation.

The former Kano governor expressed optimism that continued advocacy might lead lawmakers to call for a constitutional review to strengthen the position of deputy leaders.

He said, “Whether you are a deputy governor or a vice president, it’s the same concept of deputising. This concept is a very controversial one.

Even in theology, God has no deputy because of its controversial nature. God declared that everyone, including His prophets, is a servant. So, it’s an issue that remains a no-go area.

“But a leader doesn’t determine his continuity in office. A leader could fall sick at any time and would need someone to steer the ship. If a leader dies, there must be someone to take over. No one can do it alone.

The difference between a governor and his deputy is not biological. It’s not because one was born to be a governor and the other to be a deputy.
I think this is an issue we will continue to debate until there is a review of the Constitution. Perhaps certain provisions could be added in favour of deputy governors.

https://punchngk of trust are the primary reasons many presidents and governors avoid transferring leadership to their deputies.

The veteran journalist expressed these concerns at the 3rd Annual Conference of the Forum of Former Deputy Governors of Nigeria, held in Abuja.

The event, themed “Strategic Solutions for Good Governance, Food Security and Sustainable Growth in Nigeria,” highlighted these governance challenges.

While describing the situation as unfortunate, Osoba noted that it is a global issue, not confined to Nigeria or Africa.

The former governor cited the political tension between former United States Vice President Al Gore and his principal, Bill Clinton, as an example.

He said, “It is most unfortunate. It is not just in Africa — it happens all over the world. You will recall the case of Al Gore and Bill Clinton. Al Gore was his vice president, and he contested the presidency. But because he thought Clinton might be a liability, he didn’t involve him in his campaign.

So, this issue is not limited to Nigeria. It is rare to see a deputy succeeding their boss. However, there are still opportunities for such individuals in this country. As I mentioned earlier, the array of leaders who are still young and passionate about Nigeria, even from what we have seen at this conference, gives us confidence that one day, one of them will emerge as the president of this country.

Osoba also lamented the persistent trend of governors plotting or sponsoring impeachment against their deputies.

When asked whether the constitution could be amended to protect deputies from their superiors in government, the politician said there was little anyone could do.

Again, you can’t amend the constitution against governors using their influence and powers to impeach their deputies. There is nothing anybody can do about it. If the State House of Assembly is friendly with the governor, he can attempt anything, including impeaching his deputy.

What we should continue to promote is for leaders to build relationships. It is not by law but through relationship. As they say, you wash your hands with both the left and right—it’s through cooperation,” he stated.

The National Chairman of the ruling All Progressives Congress, Dr Abdullahi Ganduje, also shared his perspective, acknowledging that this is a controversial issue many leaders are reluctant to discuss.

Ganduje, however, lightened the mood by joking that even God Almighty didn’t consider having a deputy during creation.

The former Kano governor expressed optimism that continued advocacy might lead lawmakers to call for a constitutional review to strengthen the position of deputy leaders.

He said, “Whether you are a deputy governor or a vice president, it’s the same concept of deputising. This concept is a very controversial one.

Even in theology, God has no deputy because of its controversial nature. God declared that everyone, including His prophets, is a servant. So, it’s an issue that remains a no-go area.

“But a leader doesn’t determine his continuity in office. A leader could fall sick at any time and would need someone to steer the ship. If a leader dies, there must be someone to take over. No one can do it alone.

The difference between a governor and his deputy is not biological. It’s not because one was born to be a governor and the other to be a deputy.
I think this is an issue we will continue to debate until there is a review of the Constitution. Perhaps certain provisions could be added in favour of deputy governors.

Punchng

Denying Igbo Presidency Over Secession Attempts Is Unfair – Obasanjo     Former President Olusegun Obasanjo has said tha...
23/10/2024

Denying Igbo Presidency Over Secession Attempts Is Unfair – Obasanjo

Former President Olusegun Obasanjo has said that denying the Igbo people the presidency due to past secession attempts is unfair.

Obasanjo made the remarks during a meeting with the League of Northern Democrats led by former Kano State Governor Ibrahim Shekarau, at the Olusegun Obasanjo Presidential Library in Abeokuta.

Obasanjo said that Nigeria’s three major ethnic nationalities – Hausa/Fulani, Yoruba, and Igbo – have all, at some point, attempted to break away from the country. He cited the North’s strong move to secede through the Araba movement, revealing that his friend Ahmed Jooda had confessed to being part of the plot.

“I think all of us in Nigeria have to rethink… It bleeds my heart when people say because the Igbo had carried out a secession, an Igbo man cannot be the president of Nigeria.

“I say what nonsense? There is no section of Nigeria that has not planned a secession. What is ‘Araba’ in the North? The North planned to break up Nigeria. Ahmed Jooda, a very good friend of mine, said that.

“What is treasonable felony? So, who among us can say I am better than the other? None! So, let us put our heads together and build a country together,” he said.

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