The dollar to naira exchange rate in the black market on 10th September 2024 saw a dollar bought at N1650 and sold at N1660, according to sources from the Bureau De Change (BDC). The Central Bank of Nigeria (CBN) continues to emphasize that it does not recognize the parallel market and encourages individuals to approach […]
Category archives: News
EFCC to Begin Prosecution of Banks and Top Officials for Major Financial Frauds
The Economic and Financial Crimes Commission (EFCC) has announced plans to prosecute banks and their top officials involved in significant financial frauds. EFCC Chairman, Mr. Olanipekun Olukoyede, revealed this during the 17th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja. Olukoyede stated that the EFCC has […]
Suspects’ Arraignment Delayed Due to Lawyers’ Absence in N4bn Arms Case
Ten individuals implicated in the illegal importation of firearms and ammunition valued at N4 billion have been remanded in the custody of the Intelligence Response Team (IRT) of the Nigeria Police Force. The Federal High Court in Abuja, presided over by Justice Emeka Nwite, was set to arraign the suspects on Monday. However, the proceedings […]
Enugu Government Warns Against Sale of Diseased Meat
The Enugu State Government has issued a stern warning to butchers and poultry farmers to halt the sale of animals and chickens that have died from unknown causes. In a joint statement released on Tuesday by the Commissioners for Health, Prof. Ikechukwu Obi, and Agriculture, Mr. Patrick Ubru, the government threatened sanctions for anyone involved […]
Marketers Raise Concerns Over Potential High Price of Dangote Refinery Petrol Amid Rising Landing Costs
Oil marketers have expressed concern over the delayed announcement of the price of petrol from the Dangote Petroleum Refinery, as the landing cost of imported Premium Motor Spirit (PMS) has surged to approximately ₦1,120 per litre. Dealers fear that if the Dangote refinery sets a high price for petrol, they may need to resume importation […]
ASUU Rallies in Protest Against Dismissal of LASU Lecturers
The Academic Staff Union of Universities (ASUU) Lagos Zone is set to hold a rally today, September 10, 2024, in protest of the dismissal of five lecturers from Lagos State University (LASU), Ojo. According to a letter made available to PUNCH Online on Monday, ASUU claims that the lecturers were unlawfully dismissed by the university’s […]
Naira Falls to N1,660 in Parallel Market, Shows Slight Improvement in Official Trading
The Naira depreciated to N1,660 per dollar in the parallel market, down from N1,645 last week Friday. However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated slightly to N1,580.46 per dollar, reflecting a N12.86 gain from last weekend’s rate of N1,593.32. The dollar trading volume in NAFEM decreased by 22%, from $254.17 […]
DSS Releases NLC President Joe Ajaero After Arrest Sparks Labour Union Outcry
The Department of State Services (DSS) has released Nigeria Labour Congress (NLC) President Joe Ajaero on bail after his arrest at the Nnamdi Azikiwe International Airport. Ajaero was detained on his way to the UK for a Trade Union Congress (TUC) conference, prompting the NLC to hold an emergency meeting condemning the arrest. The NLC […]
NLC Issues Red Alert Following DSS Arrest of President Joe Ajaero
The Nigeria Labour Congress (NLC) has issued a red alert after its national president, Joe Ajaero, was arrested by the Department of State Services (DSS) on Monday at Nnamdi Azikwe International Airport, Abuja. Ajaero, who was on his way to the UK for an official assignment, was detained by DSS operatives, prompting the NLC to […]
U.S. Blocks Nigerian’s Cryptocurrency Scam, Fines Perpetrator $50,000
A Nigerian national, Bimbo Toyin Akinyemi, has been caught attempting to defraud a Kansas resident of cryptocurrency, according to the Kansas Attorney General’s Office. The failed scam resulted in Akinyemi facing over $50,000 in civil penalties. In a statement titled, “State of Kansas, U.S., Thwarts Attempt by Nigerian Crypto Scammer,” it was revealed that Akinyemi […]