DSS grills Bawa after suspension as EFCC chair
The Department of State Security (DSS) has invited Abdulrasheed Bawa, the suspended chairman of the Economic and Financial Crimes Commission (EFCC). In a statement on Wednesday night, Peter Afunanya, spokesperson of the DSS, said Bawa arrived at the headquarters of the service a few hours ago. “The invitation relates to some investigative […]
IT’S OFFICIAL: CBN announces unification of all exchange rate windows
The Central Bank of Nigeria (CBN) has announced the unification of all segments of the forex exchange (FX) market. In a circular on Wednesday, the apex bank said all FX windows are now collapsed into the investors & exporters (I&E) window. The CBN said the move is part of a series of […]
EXPLAINER: What does the naira float mean for you, your business?
On Wednesday, the Nigerian currency traded for N755 to the dollar at the investors and exporters (I&E) window, following a reported float of the local currency on the instruction of the Central Bank of Nigeria (CBN). This means that the naira fell from N471 per dollar on Tuesday to N755 on Wednesday. In […]
Edwin Clark writes EFCC, alleges Okowa ‘misappropriated over N1.7 trn’
Edwin Clark, convener of the Pan-Niger Delta Forum (PANDEF), has alleged that Ifeanyi Okowa, former governor of Delta, misappropriated the state’s derivation fund amounting to N1.760 trillion. Clark said he had written to the Economic and Financial Crimes Commission (EFCC) over the involvement of Okowa in the floating of Premium Bank, which he […]
CBN abolishes Naira4Dollar, RT200 rebate schemes
The Central Bank of Nigeria (CBN) has announced the cessation of the RT200 rebate scheme and the Naira4Dollar remittance scheme, with effect from June 30. The apex bank announced the development in a circular issued on Wednesday and signed by Angela Sere-Ejembi, director, financial markets department. ”The Central Bank of Nigeria (CBN) wishes […]
Naira begins recovery after float, closes at N664/$ at I&E window
The naira closed at N664.04 per dollar at the investors and exporters (I&E) window on Wednesday. Earlier in the day, the local currency was initially quoted between N750 and N755 per dollar before appreciating to close at N664.04 to the greenback. The I&E foreign exchange (FX) window is the country’s official exchange […]
Tinubu suspends Bawa as EFCC chairman, orders probe over ‘abuse of office’
President Bola Tinubu has suspended Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC). In a statement on Wednesday, Willie Bassey, director of information, office of the secretary to the government of the federation (SGF), said Bawa was suspended to allow for a proper investigation into his conduct while in office. […]
BREAKING: Tinubu suspends Bawa as EFCC chairman
President Bola Tinubu has suspended Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC). President Tinubu gave the approval for Bawa’s suspension on Wednesday to allow for a proper investigation into his conduct while in office. Bawa has been directed to immediately hand over the affairs of his office to […]
‘There’re pregnant women among pilgrims airlifted to Saudi’ — NAHCON raises alarm
The National Hajj Commission of Nigeria (NAHCON) says it has discovered pregnant women among the pilgrims airlifted to the Kingdom of Saudi Arabia for the hajj exercise. NAN reports that Usman Galadima, head of the Nigerian medical team for the 2023 hajj, spoke on Wednesday during an interview with the national media team […]
FG generated N469bn from company income tax in Q1 2023 — down by 37.8% from Q4 2022
The federal government generated N469.01 billion from company income tax (CIT) in the first quarter (Q1) of 2023. The accrual decreased by 37.79 percent from N753.88 billion earned in the previous quarter (Q4 2022), the National Bureau of Statistics (NBS) said in its latest CIT report for the first three months of the […]