$26bn Illicit Transactions Passed Through Binance Nigeria in One Year – CBN

The Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso has said about $26 billion was moved by unknown sources through Binance Nigeria in one year. Cardoso stated this on Tuesday after the MPC meeting in Abuja. Binance is an online exchange where users can trade cryptocurrencies. “We are concerned that certain practices go on that indicate illicit flows, going through a number of these entities and suspicious flows. In the case of Binance, in the last year, $26 billion has passed through Binance Nigeria from sources and…

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Federal Polytechnic, Oko Alumni Presents Founders’ Award To Jim Nwobodo

By NewsBits The Alumni Association of Federal Polytechnic Oko, Anambra State led by their national president Nze Henry Chukwukadibia, on Sunday, 25th February 2024, presented Founders’ Award to the former Governor of old Anambra State, Jim Nwobodo as one of the founders of the institution. Nze Chukwukadibia said the award is in recognition of Nwobodo’s “outstanding leadership, commitment to service and passion for education exhibited as the Governor of old Anambra State in establishing schools and institutions of higher learning most especially College of Arts, Science and Technology Oko which…

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Akpabio: A Man For Every New Season

By Olusegun Adeniyi An interesting piece by Olusegun Adeniyi on Akpabio’s double standards and how politicians think Nigerians suffer from collective amnesia. Enjoy: Godswill Akpabio (then Akwa Ibom State Governor) once stated that only the re-election of President Goodluck Jonathan could guarantee peace in Nigeria. At an​ interdenominational ​church service beamed live on the Nigeria Television Authority (NTA) network on 2 January 2015, he declared: “As a PDP (Peoples Democratic Party) chieftain, I have found the solution to the peace we are seeking in Nigeria. That solution is the election…

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Many Trapped As Building Collapses In Anambra State

By NewsBits Some yet-to-be-ascertained number of persons have been trapped as a building under construction caved in near the Ochanja market in Onitsha, Anambra State. It was gathered that the building, meant to serve as a market on completion, collapsed at about 8 pm on Monday with some of the workers still inside the building. The situation created panic around the area as passers-by and residents were making efforts to rescue the trapped victims from the rubble. As of the time of filing this report on Tuesday, a source near…

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Geometric Power Project: Obi Stood By Us For Many Years – Nnaji

By NewsBits Founder and Chief Executive Officer of Geometric Power Limited and Former Minister of Power, Prof Barth Nnaji has narrated how the Presidential Candidate of the Labour Party, Mr Peter Obi, remained ever supportive of the dream project, especially during the very challenging times. Nnaji, a renowned scientist and inventor made the remarks, at the Commissioning of the Aba Integrated Power Project at Osisioma Local Government Area of Abia State on Monday. He recalled how, as the then Chairman of Southeast Governor’s Forum, Obi would always check on the…

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Lawmakers’ Salaries Too Small For Job Responsibilities -Deputy Speaker

By NewsBits Deputy Speaker of the House of Representatives, Benjamin Kalu, on Monday said the current salaries of federal lawmakers cannot take them home to do the jobs they were elected to do. While stressing that the take home pay of the average lawmaker is a ‘far cry’ from what people insinuate, Kalu called for understanding, saying the call for the slashing of their salary by 50 per cent is not the solution to the current problem. The deputy speaker spoke when he featured on Channels Television’s ‘Politics Today’ on…

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NECO Releases 2023 SSCE External Results, Blacklists Two Supervisors

By NewsBits The National Examinations Council, (NECO), has disclosed that two supervisors were blacklisted, one each in Oyo and Lagos states for poor supervision, inability to control the candidates, as well as for aiding and abetting. The Registrar and Chief Executive of NECO, Professor Dantani Ibrahim Wushishi announced this while releasing the 2023 Senior School Certificate Examination (SSCE) External results, held at NECO headquarters in Minna today. Professor Dantani Ibrahim Wushishi further explained that 8,518 candidates were booked for various forms of malpractice as against 11,419 in 2022 which shows…

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Okechukwu Lauds Tinubu For Enlisting Southeast In His Renewed Electricity Roadmap – Light Up Nigeria

By Tony Adibe A former Director General, Voice of Nigeria (VON) and foundation member of the All Progressives Congress (APC), Mr. Osita Okechukwu, has lauded President Bola Tinubu for enlisting Southeast in the renewed electricity roadmap of infrastructural development. Mr. Okechukwu was commenting on the Southeast Business Roundtable for Light up Nigeria project held in Enugu on Monday by the Niger Delta Power Holding Company Limited (NDPHC) for its partners. The event, chaired by the Vice President, Senator Kashim Shettima, was the launch of the initiative to ensure dedicated power…

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CBN Directs BDCs To Sell FX At 1% Profit

Henceforth, bureau de change (BDC) operators are expected to sell foreign exchange (FX) to end users at one percent margin of the purchase rate. The development follows the Central Bank of Nigeria (CBN’s) plan to sell FX to BDC operators at N1,301/$, according to a statement yesterday signed by the Director, Trade and Exchange Department, Hassan Mahmud. CBN explained that the decision is to enable BDC operators to meet the retail demand for FX for eligible invisible transactions. The statement reads in part: “Following the ongoing reforms in the foreign…

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