CBN Explains Restriction On Naira Debit Cards

[dropcap]P[/dropcap] The Director, Monetary Policy of the Central Bank of Nigeria, Mr Moses Tule, has been speaking on the recent restrictions on the use of naira debit cards and dollar transactions in the country.   At an interactive session with journalists in Abuja, Mr Tule said that naira debit cards can no longer be used outside the country due to the abuse it has suffered in the hands of some persons who use it to transfer foreign currencies illegally. [quote bcolor="#e5e5e5"] He said that the nation’s foreign reserves has been heavily depleted due to the fall in the price of oil and as such, the apex bank had to place some restrictions on the use of naira debit cards in addition to banning the use of the United States dollar as a substitute for the naira. [/quote]  He said that the nation’s foreign reserves has been heavily depleted due to the fall in the...

Kaduna refinery resumes production four months after Closure

[dropcap]P[/dropcap] Four months after its closure for repairs, the Kaduna Refinery and Petrochemical Company, has resumed production of petroleum products. Managing director of the KRPC, Saidu Mohammed says the company resumed refinement last Saturday, after it was shut down in September. This is coming ahead of the December deadline for Nigeria’s four refineries to return to full production. The NNPC with Dr Ibe Kachikwu as Group Managing Director had issued a 90-day ultimatum to the refineries shortly after his appointment in August.‎ [quote bcolor="#e5e5e5"] Nigerians have gone through hellish times, occasioned by scarcity of petrol, and the reopening of the refinery is expected to bring succor their way. The KRPC boss says the plant is getting supply of crude from escrows in Delta state, and is currently producing at an average 1.5 Million litres of premium motor spirit per day.[/quote] No fewer than fifty trucks are expected to commence lifting of refined products within the week on...

Exclusiive Interview with Julius Agwu

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Port Harcourt residents call for extension of BVN Registration

[dropcap]R[/dropcap]esidents of Port Harcourt have expressed dissatisfaction over the deadline given by the Central Bank to customers to get their Bank Verification Numbers.   Many of them shared this view while speaking on the significance of the exercise to the country's banking system. TVC News Uche Okoro reports that some residents advised Nigerians to embrace the initiative in their own interest and the country at large. [quote bcolor="#e5e5e5"] Though October the 31st marks the second deadline given by the CBN this year for BVN registration, many Bank customers have called for more time.[/quote] [highlight]Many Nigerians have blamed busy schedule for the apathy towards BVN registration.[/highlight] Another factor that may be responsible for the unsatisfactory turnout for BVN registration is poor sensitization. This is evident in the fact that many Nigerians do not even understand the full meaning of the abbreviation.   Lorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur suscipit elit vel quam mattis laoreet. Duis non diam ut nulla...

Eagles won’t lose form after Xmas – Agu

[dropcap]S[/dropcap]uper Eagles goalkeeper trainer, Alloy Agu, has said the side will not experience loss of form after the Yuletide break. The team embarked on a Christmas holidays on Wednesday and will return on Saturday to continue with the preparations for the upcoming African Nations Championship (CHAN) in Kigali, Rwanda, in January. Agu said the players are professionals and will not lose focus on the daunting task at hand while with their respective families. “I want to believe that they players know what is at stake, I equally believe they have Nigerians at heart as well as their expectations at the forthcoming African Nations Championship (CHAN) in Rwanda. “We understand that family is important especially this festive period. That’s why we are allowing them few days to celebrate festivity with their families. “We agreed on the need to stay focus while the Yuletide holidays last and to come back better players to continue on the programme...

Telecom giant, MTN, sues NCC over $3.9bn fine

[dropcap]A[/dropcap]frica's leading telecommunications company, MTN Nigeria Limited, has gone before a Federal High Court <!--more-->in Lagos to challenge the $3.9bn imposed on it by the Nigeria Communications Commission for failure to disconnect its unregistered subscribers. TVC NEWS reliably gathered that the company is urging the court to quash the $3.9bn imposed on it. Joined as a co-defendant with NCC is the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN). Leading its legal team, Wole Olanipekun, the plaintiff is urging the court to determine whether NCC can act pursuant to Section 70 of the NCC Act to impose a fine on it in view of the provisions of sections 1 (3), 4 and 6 of the 1999 Constitution. MTN argued that by imposing a fine on it, the commission was already usurping “the exclusive legislative powers of the National Assembly, as well as the judicial powers of the courts established...

The Watford man is a shoo-in for the prestigious Goal NPOTY

[dropcap][/dropcap]here are a number of reasons why, without doubt, Odion Ighalo has been Nigeria ’s standout footballer in 2015. Bigger and better: Goal Nigeria Player of the Year 2015 CLICK HERE TO READ MORE We know the numbers: his debut season in the Premier League, widely believed to be the best in the world (no, we will not have this argument), has yielded 12 goals, and this before Christmas. At this canter, he is on pace for 26 by the end of 2015/2016, a figure which would be a record for a Nigerian footballer in Europe’s top five leagues. This is all the more remarkable because there is not much precedent of a player so prolific after promotion to the Premier League. Jamie Vardy has been the toast of England, and rightly so in light of his record-setting scoring run. However, he only scored five times in 34 league appearances last term, and even though...

Nigerian Agric Institute pushes for Youth participation

T[dropcap style="square" color="#000000"][/dropcap]he International Institute for Tropical Agriculture in Ibadan has announced that it has concluded<!--more--> plans to broadcast to viewers across the country the first Agric business and Agro-tainment reality TV show. The Concept which was developed by the Corporate Farmers Association seeks to showcase opportunities for business and research solutions to the challenges in agriculture and provide information and knowledge sharing opportunities in Agric business in an entertaining manner. Speakers at the forum say its time to divest into Agriculture as well as influence Nigerians to see Agriculture beyond food while emphasizing that youth participation was essential ....

I’M NOT GETTING MARRIED AGAIN…TOYIN AIMAKHU SPEAKS

[dropcap]E[/dropcap]mbattled Nollywood actress, Toyin Aimakhu, is not happy with the recent turnout of things relating<!--more--> to her recently as she has described latests news about her as rumours. In a chat with Het, the actress stated that she is not in any relationship with popular socialite, Seun Egbegbe as rumoured neither was she beaten as widely speculated. She explained that Seun is only a friend as she cannot marry him because they are not dating and she does not have time for such now. The actress made it clear to her fans and her alleged rumour monger that she does not think she will get married again since she has given it a trial and it did not work out for her. She stated that rather than waste her time thinking about marriage, she will want to concentrate on her planned movie school which she will start building in Ibadan very soon. According to her,...

PDP congratulates Aregbesola, APC

[dropcap]T[/dropcap]he Peoples Democratic Party (PDP) has congratulated Rauf Aregbesola for his re-election in last Saturday's Osun state governorship poll. This was contained in a statement made available by the party's spokesman, Olisa Metu. The party is convinced that the election was credible and attributed the success to the measures put in place by the presidency. The national leadership of the party also praised the attitude of the people of Osun State towards the election....

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