Blast Naija Media

The Central Bank of Nigeria (CBN) on Monday announced its first policy actions in the Foreign Exchange (FX) market. The announcement by the financial regulator comes less than a week after the National Economic Council asked the CBN to revisit its policies on the FX market, as the value of the local currency unit (Naira) dips almost on a daily basis. The apex bank also announced direct additional funding of foreign exchange to banks for onward sales to Nigerians for their personal, basic travel, medical needs and school fees. The bank stated in statement that the new directive takes immediate effect. The apex bank, however, stipulated that such retail transactions should be settled as a rate not exceeding 20% above the interbank market rate, which finished on Monday at 305 Naira, 25 Kobo to the U.S. dollar. In addition to this, the central bank also announced a significant reduction in the tenor of its forward FX sales from the current maxi

The Christian Association of Nigeria says about 65,000 of its members in Katsina State, have begun seven-day fasting and prayers for the quick recovery of President Muhammadu Buhari. The CAN Chairman in the state,  Rev. Nelson Onyeka Chukwu,   who disclosed this to journalists on Monday in Katsina, said that the prayers would be offered at Mountain of Fire Church at Kofar-Kaura, Katsina and in six other Churches. Chukwu listed the other Churches as Church of God Mission, Calvary Baptist, ECWA, St. Martin De Porres Catholic Church, and C&S, Dutsin-ma road, all in Katsina. He further said that that the prayers would be concluded next Sunday at St. John’s Anglican Church, Katsina. Chukwu said that the decision was in recognition of the good works the President started for the country. “We are praying for our President’s quick recovery because of the good works he had begun for the country,’’ he said. Muslims faithful in the st

A Federal High Court sitting in Port Harcourt has adjourned until April 24, 2017, for hearing the suit brought before it by former first lady, Mrs Patience Jonathan, against the Economic and Financial Crimes Commission on the enforcement of her fundamental human rights. Mrs Jonathan had gone to court to seek a declaration that the freezing of her bank accounts and those of her relatives by the EFCC was a violation of her fundamental human rights to own property and to fair hearing. The former first lady also claimed that the breaking into and ransacking of her family property by officers of the Commission while executing a search warrant was a violation of her fundamental human rights to private and family life. She also sought the sum of N2bn as damages for the alleged violation of her fundamental human rights by the Commission. But the EFCC, in its motion of preliminary objection, sought an order dismissing/striking out the entire suit for w

Enugu State Board of Internal Revenue enforcement team sealing-off some banks in the state for failure to remit Withholding Tax worth about N1bn to the coffers of the state government. The exercise which started on Monday morning at about 5:30am, affected Access Bank PLC, Stanbic IBTC Bank, Skye Bank, Union Bank, Unity Bank, Heritage Bank, Keystone Bank and Sterling Bank, in the metropolis. The Chairman, Enugu State Board of Internal Revenue, Mr Emeka Odo made this known to newsmen in Enugu, that the board obtained an order from the state High Court to seal the affected banks. Mr Odo, said sealing of the banks which is the first phase of the enforcement exercise on the major companies and institutions will remain under lock and key, to ensure that they perform their civic obligations to the state government. He however called on customers of the affected banks not to panic as the banks are expected to take necessary actions, to enable the government ser

The Acting Chief Justice of Nigeria, Justice Walter Onnoghen, has called on state governments to domesticate and implement the Criminal Justice Act. This according to him, is to effectively resolve the challenge of prison congestion and delay in courts. Represented by the Supreme Court Judge, Justice Mary Peter-Odili, at a judicial colloquium on the Administration of Criminal Justice Act in Abuja, the CJN noted that the application of the Federal Law through the state Houses of Assembly, would fast track judicial decisions which would in turn protect and empower citizens. Furthermore, she revealed that 70% of the prison population in the country are awaiting trial; a situation she says speaks volumes of the system. However, after years of mere talk, the judiciary has once again swung open the doors of reforms in the justice system, while also hoping that the government would invest in it more, so as to meet growing demands. Abuja – The President, Nigeria La

Enugu State Governor, Dr. Ifeanyi Ugwuanyi, signing the 2017 budget into law; with him are Speaker, Enugu State House of Assembly, Edward Ubosi (middle), and the clerk of the House, Dr. Emmanuel Udaya, at the Government House, Enugu, yesterday. Governor Ifeanyi Ugwuanyi of Enugu State yesterday assented to the state’s 2017 budget estimates, reiterating the determination of his administration to effect its diligent execution to “break through the storm of the present difficult economic condition in the country”. The legislative arm of government had last week passed the budget which the governor had presented on the floor of the State House of Assembly before Christmas break last year. At the formal presentation of the budget for Governor Ugwuanyi’s assent yesterday at the Government House, Enugu, speaker of the State House of Assembly, Rt. Hon. Edward Ubosi, commended him for the very able way he has been managing the resources of the state. The speaker also applauded

Governor Ifeanyi Ugwuanyi of Enugu State (right), receiving "The Man of the Year 2016" award from the Deputy Chairman, Editorial Board of Enugu Local Government Area News Magazine, Rev. Fr. Dr. Emeka Ngwoke, at the Government House, Enugu.   Governor Ifeanyi Ugwuanyi of Enugu State yesterday received the Man of the Year 2016 Award from the Enugu LG News magazine in recognition of his outstanding performance in office.   Presenting the award, the Deputy Chairman of the editorial board of the magazine, Rev. Fr. Dr. Emeka Ngwoke, noted that Gov. Ugwuanyi’s choice was based on his humble disposition, sound vision and ability to tackle issues of governance that impact positively on the lives of the people.   Fr. Ngwoke said that the governor since his inauguration, despite the current economic challenges in the country, has “continued to fulfill his charge with spectacular diligence, unfailing zeal, uncommon grace and effortless ease”, adding that such a leader d

The Court of Appeal in Abuja, Wednesday , dismissed the appeal by the former governorship aspirant of the Peoples Democratic Party (PDP) in the 2015 general election in Enugu State, Senator Ayogu Eze, seeking to upturn the emergence of Rt. Hon. Ifeanyi Ugwuanyi as the candidate of the PDP nominated at the December 4, 2014 primary election in the State.   The Court in a judgment delivered by Hon. Justice Peter Ige dismissed the appeal for lack of merit as well as lack of locus standi by Senator Eze, whom the Court said, admitted by his affidavit evidence, that he did not participate in the primary election conducted by the National Executive Committee (NEC) of the PDP.   The Court also held that the High Court lacked the jurisdiction to entertain the suit ab initio since Senator Ayogu Eze did not qualify as an aspirant entitled to challenge the outcome of the primary election as provided in Section 87 (9) of the Electoral Act.   He explained that in line with the Elect