Metro Archives - Page 167 of 281

Feb

24

2024

CBN provides Customs with updated guidelines regarding exchange rates for import clearance.

Business, Economy, Metro, NewsCBN, Economy, Money

The Nigerian Customs Service (NCS) has been directed by the Central Bank of Nigeria to establish a foreign exchange closing rate on the day that importers submit their "Form M" for the purpose of clearing their products and assessing import duties, amidst multiple hikes in customs exchange rates. This was revealed by the CBN in a statement on Friday that was signed by Hassan Mahmud, the department's director of trade and exchange. The pricing system has been upset by the frequent changes in the customs taxes rate, according to CBN, which has resulted in erratic increases in the market's final…

Feb

24

2024

By Amos Oge Kalu

Bandits kill one of seven victims for failed payment of N290 million ransome.

Lifestyle, Metro, NewsBandits, Boko Haram, Crime, Insecurity, Metro, Security

One of the seven people kidnapped from the Kuduru community in Bwari Area Council, Federal Capital Territory (FCT), on December 28, 2023, has been slain by bandits. In addition, the bandits who kidnapped seven people—among them a pregnant woman—threatened to murder the other hostages if the N290 million ransom is not paid. According to a community source, the bandits called on Friday to inform people about the killing of Olayinka Ogunyemi, a civil engineer, who was held captive since the captives' families were unable to provide the N290 million that was requested. According to the source, they made threats to…

Feb

24

2024

By Amos Oge Kalu

I’m alone now, subject to all kinds of mockery. Betty, wife of Akeredolu cries out.

Lifestyle, Metro, NewsOndo State, RIP

The widow of the late Oluwarotimi Akeredolu, the former governor of Ondo State, Betty Anyanwu-Akeredolu, has expressed that her loss would be deeply felt. The widow said that she will be subjected to ridicule from the public as a result of Akeredolu's passing in her eulogy for her late husband. Betty claims that a lot of people thought her late husband was weak because of his love for her, especially those who were considered to be close to him. She stated in the tribute that the reason the state's citizens despised her was because of her tribe and the way…

Feb

24

2024

By Amos Oge Kalu

Naira vs. USD: CBN will outlaw street trading and consider new BDC regulations

Business, Economy, Metro, NewsBusiness, Economy, Metro, Money, Nigeria

The Central Bank of Nigeria has announced new rules to Bureau De Change Operators in Nigeria, including the possibility of ending street trading, in response to the ongoing volatility of the Naira against the US dollar in the foreign exchange market. This was revealed on Friday by the top bank in its proposed Revised Regulatory and Supervisory Guidelines for Nigeria's Bureau De Change Operations. For Tier 1 and Tier 2 BDC licences, CBN intends to set the minimum capital share amounts at N2 billion and N500,000 million, respectively. This is a departure from the general license's former capital share of…

Feb

23

2024

By David Okoye

FG Directs Sealed Medicine Stores in Kano to Relocate for Proper Monitoring

Health, Metro, NewsHealth, Kano State, Metro

The federal government has instructed the owners of 1,321 medicine stores sealed in Kano to relocate to the Coordinated Wholesale Centre (CWC) in the Dangwauro area. This move aims to enhance monitoring and safeguard public health. Minister of Health, Muhammad Ali Pate, issued the directive following an inspection of the CWC on Zaria Road, emphasizing the importance of ensuring quality distribution and combating counterfeit drugs. The National Agency for Food and Drug Administration and Control (NAFDAC) and the Pharmacists Council of Nigeria (PCN) sealed the stores on February 18 for illegal operations in Kano. Pate underscored the government's commitment to…