TheCable News

The Central Bank of Nigeria (CBN) says it has completed the sales of Polaris Bank to Strategic Capital Investment Limited (SCIL), a new core investor. Osita Nwanisobi, director of corporate communications, said this in a statement on Thursday. Nwanisobi said the investment company acquired 100 percent equity stakes of Polaris Bank. […]

The Debt Management Office (DMO) says the country’s October bond issuance valued at N225 billion ended with a subscription level of N119.17 billion as inflation and monetary policy’s aggressive moves pushed back investors. This is an under-subscription of 52.89 percent or N105 billion. The debt office disclosed this in the recently-released circular […]

The Academic Staff Union of Universities (ASUU) says it will “never” accept the Integrated Personnel Payroll Information System (IPPIS) for the payment of lecturers’ entitlements. Chris Piwuna, the union’s vice-president, said this on Wednesday when he featured on a ‘Twitter Spaces’ conversation organised by PREMIUM TIMES. He also said despite the appeal […]

Benjamin Hundeyin, spokesman of the Lagos police command, says no person who participated in the #EndSARSMemorial2 demonstration is in custody. Hundeyin said this on Thursday in a post on Twitter. Earlier on Thursday, the demonstrators walked through the tollgate axis singing and carrying mock coffins to commemorate the October 20, 2020 shooting […]

Chimaroke Nnamani, a former governor of Enugu, has been taken off the All Progressives Congress (APC) presidential campaign council list. The list was signed by Iyiola Omisore, national secretary of the party, and released on Wednesday. Also Orji Uzor Kalu, a former governor of Abia and current chief whip of the senate, […]

The Nigerian naira, on Thursday, weakened to N751 per dollar at the parallel section of the foreign exchange (FX) market amid increased demand. The figure represents N9 or 1.2 percent depreciation compared to the N742 it traded a week ago. Bureaux De Change (BDC) operators, popularly known as ‘abokis’, who spoke to TheCable in […]

President Muhamadu Buhari has sacked Effiong Akwa, the sole administrator of the Niger Delta Development Commission (NDDC).  In a statement on Thursday by Patricia Deworitshe, director of press, ministry of Niger Delta Affairs, the president also announced the constitution of a new management team and governing board of the NDDC.  In December […]

The Economic and Financial Crimes Commission (EFCC) has arraigned Olasupo Shasore, former Lagos state attorney-general, over allegations of money laundering. He was arraigned on a four-count charge before Chukwujekwu Aneke, judge of a federal high court in Lagos. The former AG was alleged to have committed money laundering to the tune of […]

United Kingdom Prime Minister Liz Truss has announced her resignation. Truss, whose economic policies have been heavily criticised, had only been in office for 45 days. She announced her resignation while addressing a press conference outside No 10 Downing Street on Thursday afternoon. Over a dozen conservative members of parliament […]

A house of representatives’ committee says the planned sale of Polaris Bank by the Central Bank of Nigeria (CBN) followed due process. Last week, the lawmakers directed the CBN to immediately suspend the sale of the bank. The house made the ruling following the adoption of a motion of urgent public importance […]