The Central Bank of Nigeria (CBN) has issued a directive instructing banks and various financial institutions to apply a 0.5 percent levy on electronic transfers for cybersecurity measures. This mandate was communicated through a circular signed by Chibuzor Efobi, the director of payments system management, and Haruna Mustafa, the director of financial policy and regulation,…
The Canadian Immigration Minister, Marc Miller on Monday made an announcement which unveiled a new provision granting international students the opportunity to engage in off-campus employment for a maximum of 24 hours per week, effective from September onwards. This update comes following the temporary suspension of the 20-hour work limit imposed on international students amid the…
The Minister of Power, Mr. Adebayo Adelabu, emphasized that the Federal Government necessitates an annual allocation of $10 billion over the course of the next decade to rejuvenate the nation’s power sector and mitigate the persistent liquidity challenges. He further underscored the impracticality of such a financial commitment within the current fiscal framework of the…
The Economic and Financial Crimes Commission (EFCC) contemplates prosecution of 300 Forex Racketeers engaged in Peer-to-Peer Trading beyond Regulatory Bounds. In a recent interactive session with editors and bureau chiefs in Abuja, EFCC Chairman Ola Olukoyede hinted at potential prosecution proceedings against approximately 300 individuals involved in forex racketeering via a peer-to-peer platform, circumventing financial…
Dangote Petroleum Refinery has recently announced another notable reduction in the prices of both diesel and aviation fuel, now offering them at N940 and N980 per litre respectively. This decision follows closely on the heels of their previous reduction to N1,000 just a fortnight ago. The revised price of N940 is applicable to customers purchasing…
Kenyan Police reportedly has apprehended Nadeem Anjarwalla, Binance Executive Who Fled Nigeria Amid Cryptocurrency Crackdown According to recent reports, Nadeem Anjarwalla, a senior figure at the cryptocurrency exchange Binance, has been detained by Kenyan law enforcement. Anjarwalla had managed to evade capture in Nigeria after authorities cracked down on Binance as part of efforts to…
The chief of Israeli military intelligence, Major General Aharon Haliva has resigned, citing responsibility for the shortcomings leading up to Hamas’s attack on Israel on October 7. The Israel Defense Forces (IDF) stated that the Major General will retire once his successor is chosen. General Haliva admitted in a letter that his intelligence directorate failed…
Israel’s Prime Minister Benjamin Netanyahu has pledged to vehemently oppose any sanctions imposed on the country’s military. The Prime Minster made this known on Sunday following reports of the US intending to reduce aid to a specific unit, stating that he will vigorously combat it. The US intended to target Israel’s Netzah Yehuda battalion over alleged…
President Bola Tinubu’s administration, on Saturday announced that Nigeria had secured a loan of $2.25 billion from the World Bank at a single-digit interest rate. The package includes a 40-year term with a 10-year moratorium and a nominal interest rate of 1 percent. During a press briefing in Washington DC, United States, Wale Edun, Nigeria’s…
The Nigerian government is set to purchase a minimum of 24 fighter jets from Italy’s Leonardo to enhance the country’s air force. This was made known by the Nigerian Air Force spokesperson, Air Vice Marshal Edward Gabkwet stating that the aircraft will be delivered in four batches of six jets each. Additionally, Gabkwet stated in his…
