Digital currency: CBN picks technical partner

JUSTINA EMMANUEL OKPARA

Preparations for the unveiling of digital currency ( e-Naira) by the Central Bank of Nigeria (CBN) has commenced in earnest with the engagement of Bitt Incorporated, a Fintech company, as technical partner by apex bank. This comes as CBN Governor, Mr. Godwin Emefiele, listed benefits of the proposed digital currency billed to take off before end of 2021, to include increased cross-border trade, accelerated financial inclusion, cheaper and faster remittance inflows, easier targeted social interventions, as well as improvements in monetary policy effectiveness, payment systems efficiency, and tax collection. A…

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Transfer: CBN Pegs Limits As e-Naira Takes Off October 1

Admin

The Central Bank of Nigeria (CBN) has set an initial transaction limit of N50,000 for non- account preparatory to the take-off of its digital currency set for October 1. In a guide released by the apex bank to Deposit money banks, the CBN stipulated a transaction limit for customers, non-interest-bearing Central Bank Digital Currency (CBDC) status, and an account value limit. There are three levels to the CBN “Speed wallet” issued primarily to meet the October 1, 2021, deadline. As a means to transact value, the wallet doesn’t compete with…

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Poly student, one other killed by gunmen in Rivers

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Two persons were killed and one injured early on Sunday when gunmen suspected to be cultists invaded Ka-Bori community in the Khana Local Government Area of Rivers State. Newsfieldglobal gathered that the gunmen stormed the community at 6am, shot indiscriminately and killed a man and a female student identified as Burabari Sunday, of Ken Saro Wiwa Polytechnic in Bori. Reacting to the incident, the Chairman of Khana council, Dr. Thomas Bariere, described it as an act of terrorism. According to him, “the persons confirmed dead are from Gokana LGA. One…

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Na’Allah’s son murdered, not killed by bandits—Kaduna govt

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Kaduna State Government has said the murder of Senator Bala ibn Na’Allah’s son, Abdulkarim Na’Allah, appeared to be a case of culpable homicide as he was strangled with a rope. This is contrary to speculations on social media that the deceased was killed by bandits. A statement issued by the Kaduna State Commissioner of Internal Security and Home Affairs, Samuel Aruwan, stated that the state government had been informed by security agencies that the remains of one Captain Abdulkarim Ibn Na’Allah were found in his Kaduna home. “In what appears…

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My Son’s Life Not Better Than Any Nigerian’s – Senator Na’Allah

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Senator Bala Ibn Na’Allah, whose eldest son, Abdulkareem, was murdered at his Malali home in Kaduna State, has said his son’s life is not better than that of any other Nigerian. In a statement he issued on Monday, Na’Allah expressed hope that his death will play a major role in finding solutions to Nigeria’s problems. Senator Na’Allah who was outside Nigeria when the incident occurred, said his son’s attackers were not armed with guns. “They simply gained access to his house through the roof and strangulated him. As a family,…

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Again, Emirates Extends Suspension Of Flights To Nigeria

JUSTINA EMMANUEL OKPARA

The Dubai, United Arab Emirates (UAE) flag carrier, Emirates, has further extended suspension of its flights to Nigeria till September 5, fueling uncertainty on resumption of travels between the two countries. The extension of flight cessation is coming despite the decision by the United Arab Emirates (UAE) to open its borders to welcome fully vaccinated tourists from all countries. Flights between both countries have been halted since March this year following diplomatic spat fueled by the COVID-19 protocols. Since then, efforts to reinstate the flights have not yielded results as…

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Customs intercepts vehicle with pistol at Lagos port Bayo Akomolafe

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Nigeria Customs Service (NCS), Tin Can Island Command, has intercepted a  pistol inside an  imported 2003 Toyota Camry  during clearing from the Car Park C’ of the Tin Can Port. Car Park ‘C’ is owned by Five Star Logistics Terminal. It was gathered  on Sunday  that the vehicle was intercepted by the officer in charge of Car Park C, Assistant Comptroller, Usman. Subsequently, the agent and importer  were arrested and  handed over to the enforcement team of the Tin Can Customs Command. Confirming the report,  the spokesman of the command,…

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FCMB, Mercy Corps to uplift farmers, vulnerable in North East

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About 500,000 farmers and vulnerable people in Nigeria’s North-East zone can now access farming friendly and demand-driven financial services.  It is the result of First City Monument Bank’s (FCMB) partnership with Mercy Corps, a frontline international aid organisation.  A bold and landmark intervention, the partnership supported by USAID-funded Feed the Future Nigeria Rural Resilience Activity, will deliver funding and capacity-building support to smallholder farmers and vulnerable people living in the conflict-affected states of Adamawa, Borno, Gombe and Yobe. The Feed the Future Nigeria Rural Resilience Activity aims to facilitate and…

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NGX reclassifies United Capital to medium price stock group

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Trading License Holders have been notified of the reclassification of United Capital Plc from the Low-Priced Stock Group to the Medium-Priced Stock Group, in line with The NGX’s Pricing Methodology framework. According to a notification by the Nigerian Exchange  Limited, equity securities of quoted companies on the NGX are classified into three Stock Price Groups or Categories – High-Priced, Medium Priced, and Low-Priced Stocks, based on their market price. In this regard, securities must have traded for at least four out of the most recent six month period within a Stock…

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Power: NERC faults report on ECR suspension

Dorothy Ewa

Following reports making the rounds that the Eligible Customer Regulation (ECR) has been suspended, the Nigerian Electricity Regulatory Commission (NERC) said that it was not true and that at no time had the commission issued a directive for discontinuation of service to any customer. In a statement made available to journalists yesterday, the commission said that its attention was drawn to the report in both electronic and print media that the ECR issued by the commission in 2018 had been suspended. The ECR was designed to provide a very simple process…

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