President Buhari To Unveil New Naira Notes Wednesday – CBN Governor

The Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele, revealed that President Muhammadu Buhari will unveil the newly redesigned naira notes tomorrow Wednesday, November 23, 2022. Emefiele, announced said this on Tuesday while fielding questions from journalist at the monetary policy committee (MPC) meeting in Abuja. Recall that Emefiele had announced in October that the apex bank would issue redesigned N200, N500, and N1,000 notes, effective December 15, 2022. However, he has disclosed that CBN won’t wait till December anymore for the unveiling of the new notes.

President Buhari Swears In New RMAFC Chairman

President Muhammadu Buhari swore in Mohammed Bello Shehu as the new Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). Bello was administered the oath of office on Wednesday at the State House, Abuja just before the commencement of the weekly Federal Executive Council (FEC) meeting which was presided over by President Muhammadu Buhari.

CBN, AMCON Announce Sale Of Polaris Bank To SClI

The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the completion of a Share Purchase Agreement (SPA) for the acquisition of 100 percent of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’). This is happening even as the House of Representatives on Wednesday gave the go for the sale of Polaris Bank, noting that the acquisition followed the laid down procedure and the relevant presidential approval. The House had last week directed the CBN to suspend the planned sale of Polaris Bank. The Chairman, House of Representatives Ad-hoc Committee on the probe of the sale of Polaris Bank, Hon Henry Nwawuba, yesterday said at a briefing with reporters that investigations had shown there was nothing wrong with the process. Adding that there had been compliance with the process.

Alleged N22Bn Fraud: MTN Mobile Banking Sues 18 Banks

The fintech subsidiary of MTN Nigeria, Momo Payment Service Bank Limited (MomoPSB) has filed a suit in the Federal High Court seeking to compel 18 commercial banks to refund about N22.3billion that was mistakenly transferred in 700,000 transactions into accounts belonging to about 8,000 bank customers on May 24, 2022.

Anticipate More Flooding NiMet Warns Nigerians

The Nigerian Meteorological Agency (NiMet) and the Nigeria Hydrological Services Agency (NISHA) have revealed that there is more chance of more states in the North Central, South East, and South West experiencing floods in the coming days. This was disclosed by both the Director- General of NiMet, Prof. Mansur Bako Matazu, and the Director-General of NIHSA, Mr. Clement Nze during the opening ceremony on the Hydro-metrological status and outlook system (Hydro SOS) workshop in the nation's capital on the 11th October 2022. While speaking on the current flood impact the DG noted that the flood is a result of rainfall and has gotten to its peak, flooding as a result of opening dams and other water-holding facilities would affect the aforementioned states.

Petrol, Electricity Crisis: President Buhari Apologizes To Nigerians

President Muhammadu Buhari has apologized to Nigerians over the total blackout and the protracted long queue in filing stations which has caused the citizens untold hardship. The Senior Special Assistant to Mr. President on Media and Publicity, Mallam Garba Shehu, in a statement last night conveyed Mr. President’s sincere regrets for the inconvenience caused to citizens of the country. “The administration knows the fuel shortage has placed a strain on Nigerian citizens and businesses, but relief is on the way.

Anambra Boat Mishap: Death Toll Increases to 76

President Muhammadu Buhari has revealed that the death toll from the boat accident in Anambra the South-Eastern part of the nation has increased to 76. It was reported that the mishap happened on the 7th of October 2022, amid heavy flooding in the Ogbaru area of the state, where officials stated that 10 persons had lost their lives, while 60 people were yet to be found as of 8th October. Buhari stated that Authorities have been on a rescue mission, to rescue or recover any missing passengers, noting that relevant agencies have been directed to ensure safety protocols to prevent the future reoccurrence of such ordeal.

CBN Introduces Cash Collection Centres For Withdrawals, Deposits

The Central Bank of Nigeria (CBN) has announced the launch of cash collection centers called Bank Neutral Cash Hubs (BNCH) to be set up by Deposit Money Banks (DMBs) or registered Cash Processing Companies (CPCs). CBN made this known in a guideline for the registration and operation of BNCHs in Nigeria. According to the CBN, BNCHs would provide an efficient platform for customers to deposit and receive cash regardless of the bank the customers’ account is domiciled, adding that BNCHs would be located in areas with a high frequency of cash transactions and business activities.

Top 50 Brands Nigeria: Dangote, MTN Nigeria Tops 2022 List

Dangote Industries and MTN Nigeria have been named among 2022 Top 50 Brands Nigeria following the results of the 2022 corporate brand evaluation conducted by a brand and marketing research firm known as Top 50 Brands Nigeria. The organizers also stated that Dangote Industries emerged as the Most Valuable Brand in Nigeria for the fifth year, with an aggregate score of 83.7 Brand Strength Measurement (BSM) index score.

Oil Vessel With Over 20kBpD Capacity Explodes In Niger Delta

A Floating oil Production, Storage and Offloading (FPSO) vessel owned by Shebah Exploration and Production Company Limited (SEPCOL) with a capacity to process up to 22,000 BPD, and store 2 million barrels of oil, has exploded and sunk at the Ukpokiti Terminal, around Excravos, Warri South-west, Delta State. SEPCOL, owned by a combination of Nigerian and overseas corporate entities, which include: Abbeycourt Trading Company Limited (ATCO), Abbeycourt Petroleum Company Limited and Allenne Limited confirmed that the vessel TRINITY SPIRIT has exploded and has sunk below waters in the Niger Delta area of the country.