CBN Threaten To Arrest, Prosecute Naira Abusers

The Central Bank of Nigeria (CBN) has disclosed that it is collaborating with the Nigeria Police and other law enforcement agencies to arrest and prosecute anyone found abusing the Nigerian Naira. Ag. Director, Corporate Communications, CBN, Osita Nwanisobi disclosed this, saying the apex bank has been alerted of the activities of persons, abusing, mishandling the naira notes by defacing, hawking, and stamping on them in social functions.

Buhari Flags Off Kaduna-Kano Rail Line

President Muhammadu Buhari performed the groundbreaking ceremony of the Kaduna-Kano standard gauge rail line in Zawacikin town of Kano State. Buhari arrived in Kano via Nigerian Air Force helicopter NAF 540 and was received by Governor Abdullahi Ganduje of Kano State. During the ceremony, President Buhari said, “The takeoff of construction activities on this segment of the Lagos – Kano vividly represents the commitment of this administration in the revival of Nigerian railway system, to reduce the deficiency in our transportation infrastructure and drive effective and more efficient transportation of passengers and freight within the country.

FG Begins Pilot Phase of Vehicle Registry in Lagos State

The Federal Government has commenced the pilot phase of the National Vehicle Registry (VREG) platform in Lagos state. This was disclosed in Abuja on Thursday by the Minister of Finance, Budget and National Planning, Zainab Ahmed at a sensitization seminar clarifying the VREG process. VREG is created to be a national registry of vehicular data which would provide a platform where all relevant agencies and individuals shall reference vehicular data through their unique Vehicle Identification Number (VIN).

IPMAN Shelves Shutdown Of Filling Stations

Members of the Independent Petroleum Marketers of Nigeria (IPMAN) have called off the supposed shutdown of filling stations as disclosed by the National Secretary, Alhaji Garba Pasali.

NNPC Redeploys Management Staff In Major Shake Up

The Nigerian National Petroleum Corporation (NNPC) has announced the promotion and redeployment of some senior management staff to fill vacant positions in the corporation as well as the disengagement of the Chief Operations Officer. Dr. Kennie Obateru, the NNPC spokesperson said in a statement on Monday in Abuja, explaining that the redeployment was in effort to strengthen and enhancing the profitability of the corporation.

NDIC Begins Payment Of Dividends Of Liquidated Banks

The Nigeria Deposit Insurance Corporation (NDIC) has disclosed plans to commence payments of liquidation dividends to uninsured depositors, creditors, and shareholders of the 14 failed banks whose licenses were revoked by the Central Bank of Nigeria (CBN).

NRC: Lagos-Kano Train Service Resumes August 13

The Nigeria Railway Corporation (NRC) has announced that the Lagos-Kano mass transit train service would resume operations from Friday, August 13, 2021. This was made known in an interview by Ismail Adebiyi, NRC northern district regional manager. The train service through the Lagos-Kano route was suspended in March 2021 due to the COVID-19 pandemic.

Senate Passes Bill To Bar NIPOST From Tax Collection

The Senate has on Tuesday barred the Nigerian Postal Service (NIPOST) from tax collection, reducing the agency’s powers while finally addressing the lingering rift between the agency and the Federal Inland Revenue Service (FIRS). The two agency’s have been involved in a controversial rivalry over who is statutorily mandated to collect stamp duty on behalf of the federal government. According to the Nigerian Postal Service (Repeal and Reenactment) Bill, 2021, there is no provision for NIPOST to collect stamp duty, restricting the agency to only postal operations.

CBN Recovers N82BN Excess Bank Charges, Others

The Central Bank of Nigeria (CBN) has announced that it has recovered and facilitated the repayment of N82.2 billion to customers for failed transactions and excess and illegal charges by commercial banks in Nigeria. CBN Governor, Godwin Emefiele represented by Acting Director, Corporate Communications Department, Osita Nwanisobi disclosed this during the 2-day CBN Public Enlightenment fair in Calabar, saying “as of June 2021, not less than 23, 536 complaints were received from which N82.2 billion was refunded.”

Nigeria/Ghana: FG Delegation To Visit Ghana Over Traders’ Conflict

President Muhammadu Buhari has directed a ministerial delegation to be sent to Ghana to resolve the lingering conflict between Nigerian traders and the Ghanaian authorities. In a statement on Monday by the Special Assistant to the Minister of Industry, Trade and Investment on Media, Mr. Ifedayo Sayo, disclosed that the minister, Otunba Adeniyi Adebayo will lead the delegation to Ghana.