Economy
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We blocked over 12 million cyberattacks during presidential election – Pantami
Minister of Communications and Digital Economy, Isa Pantami, said a total of 12,988,978 cyber attacks were blocked originating within and outside Nigeria during the presidential election. The ministry’s spokesperson, Uwa Sulaiman, noted in a statement on Tuesday that in the run-up to the 2023 general elections, there had been an “astronomical increase” in cyber threats to the country’s cyberspace. Sulaiman…
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Sanwo-Olu, Soludo direct banks, businesses to collect old naira notes
Governors of Lagos and Anambra states, Babajide Sanwo-Olu and Charles Soludo have directed banks and businesses in their states to collect old naira notes from customers in line with the judgment of the Supreme Court. Sanwo-Olu gave the directive in a statement by the Lagos State Commissioner for Information and Strategy, Gbenga Omotoso. According to Sanwo-Olu following the ruling of…
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EXCLUSIVE: How CBN distributed new Naira notes to deposit money banks
In the face of the continuous scarcity of new Naira notes being experienced by Nigerians, WesternPost has exclusively gathered how the Central Bank of Nigeria (CBN) distributed the new naira notes to deposit money banks across the country. The apex bank had in October last year, introduced the redesigned N200, N500 and N1000 notes, releasing it into circulation December 15…
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AfDB debars Nigerian company, CEO 15 months for fraudulent, obstructive practices
The African Development Bank Group has announced a 15-month debarment of Ogon-Asu Company Ltd. and its Chief Executive Officer, Mr. William Tuku Ogon over fraudulent practices. This was contained in a statement published on the bank’s website. According to the statement, the debarment starts from February 24, 2023. The statement reads: “An investigation conducted by the Bank’s Office of Integrity…
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Court bars Seplat CEO from running company over alleged racism
A Federal High Court in Lagos has barred Chief Executive Officer of Seplat Energy, Roger Brown, from running the affairs of the company pending the determination of the suit brought before it. Justice Chukwuejekwu Aneke gave the ruling on Wednesday in response to an ex parte motion filed by some aggrieved stakeholders of the company over allegations of racism, favouring…
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NCC spotlights renewable energy on World Consumer Rights Day
The Nigerian Communications Commission (NCC) has concluded arrangements to host an event to mark the 2023 World Consumer Rights Day (WCRD) in Abuja with spotlight on its regulatory initiatives on clean energy usage in the telecoms sector. In what has become a tradition in the Commission since declaring 2017 the Year of the Telecom Consumers when it honoured telecom consumers…
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NISS seeks collaboration with NCC to improve national security
National Institute of Security Studies (NISS) has engaged the Nigerian Communications Commission (NCC) to advance strategic collaboration that would enhance the application of Information and Communication Technology (ICTs) towards improving national security. Speaking during a visit to the Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta at the NCC’s Head Office in Abuja recently, the Institute’s Director, Research…
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Loan repayment under ABP stands at 52.39%, says CBN
The Central Bank of Nigeria (CBN) says it remains committed to its developmental mandate of stimulating access to finance for the real sector, disclosing that total loan repayments as of the end of February 2023 under the Anchor Borrowers’ Programme (ABP) stood at N503 billion, representing 52.39 per cent. However, the balance of N119billion was not due for repayment, the…
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CSO commends Supreme Court’s verdict on Naira policy
A civil society organization, Centre for Social and Economic Rights (CSER) has commended the Supreme Court for it’s landmark judgement, which invalidated the naira redesign policy of the Federal Government. The apex court on Friday ruled that the old naira notes of N200, N500 and N1000 should remain legal tender side by side the new denominations till 31st December 2023.…
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Supreme Court invalidates CBN policy on Naira swap
…N200, N500, N1,000 to remain legal tender till Dec The Supreme Court has ruled as invalid, the Naira swap policy of the Federal Government. The apex court therefore said the old N200, N500 and N1000 will remain legal tender until December 31, this year. The justices said that contrary to the position of the Federal Government, it has jurisdiction over…
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