NewsReports

The Central Bank of Nigeria (CBN) on Monday issued a directive to all banks prohibiting the use of foreign currency as collateral for Naira loans. This move comes amid efforts to strengthen the country’s financial sector and ensure regulatory compliance. In a letter addressed to all banks, the CBN outlined new guidelines prohibiting the practice, with exceptions for specific types of foreign …

There is an ongoing fire outbreak at the popular Dosunmu market on Lagos Island, Lagos State. This was confirmed by Ibrahim Farinloye, the National Emergency Management Agency (NEMA) Zonal Coordinator, South-West on Tuesday afternoon in an update sent to SaharaReporters.  In a series of photographs and videos obtained by SaharaReporters, the fire was seen burning heavily on some high-rise buildings …

Impeached Deputy Governor of Edo State, Comrade Philip Shaibu has described his ouster by the State House of Assembly as an illegal act based on trumped up charges. Shaibu made the assertion while reacting to his impeachment today, positing that the allegations against him were meant to placate the public and that his ordeal was as a result of his …

The Edo State House of Assembly on Monday removed the State Deputy Governor, Philip Shaibu. The removal followed the adoption of the recommendation of a seven-member judicial panel led by Stephen Omonua, a retired judge. At plenary in Benin, the state capital, the Majority leader of the house, Charity Aiguobarueghian, said the report of the panel presented to the House found Mr …

Comrade Philip Shaibu, the embattled Deputy Governor of Edo State has been impeached by the Edo State House of Assembly. His impeachment on Monday, April 8, 2024, followed the adoption of the recommendation of the 7-man judicial panel of inquiry led by retired Justice Stephen Omonua. The Majority Leader of the House, Hon.Charity Aiguobarueghian duringbthe plenary session said that the …

The presidential candidate of the Labour Party in the 2023 elections, Peter Obi, has reacted to media reports that following his alleged unhappiness with the leadership crisis, he may defect ahead of the 2027 election. The Nigeria Labour Congress, through its spokesman, Benson Upah, had said the former Anambra State governor was free to leave the LP, noting that the congress …

The Federal Government of Nigeria has declared Tuesday, 9th, and Wednesday, 10th April 2024, as Public Holidays to mark Eid-el-Fitr Celebration. Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, congratulated all Muslim Ummah for the successful completion of the fasting in the holy month of Ramadan. Permanent Secretary, Ministry of Interior, Dr. …

…Insists on taking over Labour Party from Julius Abure The Nigeria Labour Congress, NLC, has said the resolute stand of the Congress President, Comrade Joe Ajaero, is the reason Nigerians are not buying a litre of petrol at N1,500. The NLC has also insisted on taking over the Labour Party from the Julius Abure-led National Executive Council, NEC. Speaking exclusively …

The Defence Headquarters has confirmed that an officer was killed in an ambush by terrorists in Borno State. The Director of Defence Media Operations, Edward Buba, in a statement on Sunday, said the ambush happened along the Buratai-Buni Gari road in Borno.Mr Buba’s statement confirms a PREMIUM TIMES report of the incident which sources said led to the death of the …

Nigeria’s foreign exchange reserves have taken a significant hit, dropping by approximately $1.02bn within 18 days as the Central Bank of Nigeria steps up efforts aimed at defending the naira. On March 18, 2024, the FX reserves stood at $34.45bn, but by April 3, it had dropped to $33.50bn, based on the latest data from the CBN, the PUNCH reports. …