Author: Lanre Akilu

The Association of Bureau De Change Operators of Nigeria has demanded that the Central Bank of Nigeria reverse the new capital requirement for its operations. In a circular issued last Wednesday, the CBN issued fresh guidelines for the operations of the Bureau De Change in Nigeria which include two new categories of licences with different capital bases. According to the new rules, BDCs in the Tier 1 category would be required to have a minimum capital requirement of N2bn, pay N1m as a non-refundable application fee and N5m as a non-refundable licence fee. The apex bank disclosed that Tier 2…

Bayern Munich named Vincent Kompany as the new coach of the German giants on a three-year contract on Wednesday, in a surprise move. Kompany, 38, joins Bayern despite seeing his Burnley team relegated from the Premier League this season. “I’m looking forward to the challenge of FC Bayern. It’s a great honour to be able to work for this club – FC Bayern is an institution in international football,” said Kompany in a club statement. “I’m now looking forward to the basics: working with the players, building a team. Once the basis is right, success will follow.” Kompany’s hiring brings…

The Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, has summoned the Chief Judges of the Federal High Court and the Kano State High Court in response to the recent legal turmoil surrounding the Kano Emirate. This summons follows the issuance of conflicting interim injunctions by the two courts, which have created significant uncertainty and tension within the state. The conflicting rulings have intensified the ongoing legal and political disputes over the Kano Emirate, prompting the CJN to intervene to restore order and coherence. At the heart of the disputes is the status and authority within the Kano Emirate, leading…

Barcelona appointed Hansi Flick as coach on Wednesday on a deal until June 30, 2026, after sacking Xavi Hernandez last week. “FC Barcelona and Hansi Flick have reached an agreement for the German to become men’s first team football coach until 30 June 2026,” said the club in a statement. “The new coach has signed a contract at the Club’s offices accompanied by FC Barcelona president Joan Laporta.” Flick, who led German giants Bayern Munich to a historic sextuple in 2020, became the first coach ever to be sacked by the German national team in September 2023 after a string of bad results. The…

President Bola Tinubu has officially endorsed the National Anthem bill, aiming to reinstate the former national anthem “Nigeria, We Hail Thee,” into law. Senate President Godswill Akpabio made the announcement today during a joint session of the National Assembly commemorating the Silver Jubilee of Nigeria’s 4th Republic. More details to follow shortly.

The House of Representatives on Wednesday resolved to look into the circumstances that led to the recent sacking of about 600 staff members of the Central Bank of Nigeria. The resolution of the House followed the adoption of a motion on urgent public importance moved by the member representing Karu/Keffi/Kokona Federal Constituency, Nasarawa State, Mr Jonathan Gbefwi, on the floor during plenary on Wednesday. Recall that the apex bank last week anchored its decision to lay off some of its staff members on the need to reposition the bank for effective operation. Addressing the House, Gbefwi noted that the CBN…

A chieftain of the All Progressives Congress (APC) in Ogun State, Mr Armstrong Akintunde, has praised the Governor of Ogun State, Dapo Abiodun, for his commitment towards improving the lives of the state’s residents, describing it as unparalleled. In a statement commemorating Abiodun’s fifth year in office, issued by his media consultant, Oluseun Joshua, Akintunde said the Ogun governor has left nobody in doubt about his resolve to use his office to propel Ogun State towards progress and undeniable prosperity. Akintunde, who is also the convener of the Dapo Abiodun Continuity Agenda, said Abiodun was moving at a pace that…

At the 15th Annual General Meeting (AGM) of Dangote Cement Plc in Lagos, Chairman Aliko Dangote announced that the company is preparing for thousands of its delivery trucks to run on Compressed Natural Gas (CNG), aligning with the Federal Government’s initiative to adopt alternative fuels for official vehicles. Dangote emphasized that this transition supports the government’s efforts to reduce dependency on fossil fuels, enhance Nigeria’s energy independence, and contribute to a secure energy future. “We are now going to start using CNG vehicles, especially with the new policy of the Federal Government, launched by the Renewed Hope Agenda by His…

North Korea has reportedly sent balloons filled with trash, toilet paper, and suspected animal faeces into South Korea, an act that has been widely condemned by Seoul’s military as “low class.” The incident follows North Korea’s weekend warning that it would inundate border areas with “mounds of wastepaper and filth” in retaliation against South Korea. South Korean media shared photographs of white balloons carrying garbage bags containing what appeared to be excrement. Seoul’s Joint Chiefs of Staff confirmed that “unidentified objects believed to be North Korean propaganda leaflets have been identified in the Gyeonggi-Gangwon border area, and the military is…

Equities fell Wednesday on lingering worries about the outlook for US interest rates, while oil prices extended their gains after an attack on a ship in the Red Sea stoked fresh worries about supplies from the Middle East. With crucial inflation data out of the United States due at the end of the week, investors are largely playing a waiting game, with many inclined to sell after a recent run-up. Asian investors shifted nervously Wednesday and markets fell across the region, with Hong Kong leading the losses owing to heavy selling in Chinese tech firms. Tokyo, Sydney, Seoul, Singapore, Mumbai,…