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Foreign suppliers shut credit lines to Nigerian businesses, CBN accuses operators of round-tripping

Foreign suppliers shut credit lines to Nigerian businesses, CBN accuses operators of round-tripping

The organised private sector weekend said that members are finding it difficult to pay foreign creditors for goods imported before the CBN restriction on 41 items access to foreign exchange market in Nigeria. They also said that many hotels in the country are saddled with large amounts of cash, foreign currency which they could not lodge into their domiciliary accounts or do business with.

Hundred years of Penkelemes

Hundred years of Penkelemes

NOBEL Laureate, Professor Wole Soyinka, titled his 1946-1965 memoirs, Ibadan: The Penkelemes Years. He explained that “The inventor and embodiment of this deliberate, populist corruption of ‘peculiar mess’ was, appropriately, a certain Ibadan shon of de shoil (son of the soil) by the name of Adelabu.”

Medical College faults Buhari on dissolution of MDCN

Medical College faults Buhari on dissolution of MDCN

National Postgraduate Medical College of Nigeria, NPMCN, weekend faulted President Muhammadu Buhari over the dissolution of Medical and Dental Council of Nigeria, MDCN, saying, the dissolution will not only promote quackery in the health sector but will also allow cases of malpractices to continue unabated.

Of devaluation, JP Morgan and Nigerian economy

Of devaluation, JP Morgan and Nigerian economy

There has been pressure in recent times from within and outside the country for Nigeria to devalue the Naira for the third time this year.
The call is in every sense of the word self-seeking for investors who want to take advantage of Nigeria. The most recent is that coming from JP Morgan which from the look of it, is outright blackmail.

Why DSS sacked 65 personnel – Source

Why DSS sacked 65 personnel – Source

Details have emerged why about 65 personnel of the Department of State Services who were evicted from the service training school in Lagos were asked to leave the service.

SON confiscates  N4bn  substandard  products in 9 months

SON confiscates N4bn substandard products in 9 months

THE Director-General of Standards Organisation of Nigeria, SON, Dr Joseph Odumodu, has said that the agency has seized substandard products worth four billion naira since the beginning of the year.

Battle for Enugu-East: Tension as residents await Tribunal judgment

Battle for Enugu-East: Tension as residents await Tribunal judgment

ENUGU—A palpable trepidation is rife in the firmament of Enugu State as the three-man National Assembly Tribunal sitting in Enugu, last Friday, closed hearing on the petition brought before it by former governor Chimaroke Nnamani,candidate of the Peoples Democratic Change,PDC, for Enugu-East senatorial district.

STI to lead positive changes in insurance market – Faloughi

STI to lead positive changes in insurance market – Faloughi

Chairman of Sovereign Trust Insurance Plc, STI, Mr. Ephraim Faloughi said that the company will continue to assess its service platform to ensure that they conform to the best in terms of global standards and are flexible enough to lead positive changes in the market.

Again, fresh crisis looms in Assemblies of God Church

Again, fresh crisis looms in Assemblies of God Church

ENUGU—Nerves were frayed at the Assemblies of God Church, Mount Street, Agbani-Road in Enugu State, yesterday, as a factional church group gained entry into the church, which has been under lock for the past two months.