Reps Probe Alleged Diversion of N1.12tn Anchor Borrowers Funds
By Oluwakemi Kindness The House of Representatives has commenced an investigation into the alleged diversion and poor insurance coverage of the N1.12 trillion Anchor Borrowers Programme (ABP). The probe, led by the House Committee on Nutrition and Food Security, is examining how funds meant to boost agricultural production were managed, as well as the role […]
Reps Suspend $460m CCTV Payments Over Transparency Gaps
By Oluwakemi Kindness The House of Representatives has directed the Central Bank of Nigeria to suspend further payments to ZTE Corporation over $460 million national CCTV surveillance project, citing transparency and accountability concerns. The resolution followed a motion moved by lawmakers Ali Shettima and Kolawale Akinlayo during an investigative session by an Ad-Hoc Committee at […]
Eight Banks Meet Recap Target as CBN Holds Rate at 27.5%
By Oluwakemi Kindness The Monetary Policy Committee has confirmed that eight banks have met the CBN’s recapitalization target, signaling progress in the ongoing financial sector reforms.” Governor of the Central Bank of Nigeria, Olayemi Cardoso, stated this in Abuja on Tuesday while briefing Newsmen on the outcome of it 301st meeting. He commended the progress […]
We Can Withstand Shocks From Trade War – CBN
By Oluwakemi Kindness The Central Bank of Nigeria, CBN, says it is well prepared to handle the pressure and shocks from the ongoing trade wars between the U.S and China. The Apex bank explained that it is reviewing emerging scenarios to enable it take diligent actions to weather any form of storm that may arise […]