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The Loan-to-Deposit Ratio Adjusted by CBN

18Apr

By Afolake IbidunNo Comments

Business

The Loan-to-Deposit Ratio Adjusted by CBN

In a move to enhance lending capacity, the Central Bank of Nigeria (CBN) has decreased the Loan-to-Deposit Ratio (LDR) of deposit money banks from 65% to 50%. Dr. Adetona Adedeji, the Acting Director of the Banking Supervision Department at CBN, communicated this change to all banks in a recent letter. Aligning with banks' Cash Reserve Ratio of 45%, the reduction in LDR is part of CBN's efforts to strengthen monetary policy and foster increased lending in the real sector. Highlighting the need to adjust the LDR policy in line with the current tightening of monetary policy, CBN has decided on a 15-percentage point reduction to bring the LDR to 50%, mirroring the recent hike in banks' CRR. All deposit money bank...

Yahaya Bello’s Arraignment Delayed Due to Absence, N84bn Fraud Case

18Apr

By Mariam AbdullahiNo Comments

News

Yahaya Bello’s Arraignment Delayed Due to Absence, N84bn Fraud Case

The arraignment of Yahaya Bello, the former Governor of Kogi State, was halted at the Federal High Court Abuja yesterday. He was scheduled to face charges brought by the Economic and Financial Crimes Commission (EFCC) involving an alleged money laundering scheme amounting to N84 billion. During the court session, the EFCC counsel, Kemi Phinro, informed the judge that Bello was not present for the arraignment, citing his protection by an individual with immunity. In response to this, Justice Emeka Nwite decided to adjourn the case until April 23rd. Further details on this developing situation will be provided soon…

Court Denies Ex-Gov Obiano’s Request to Drop Fraud Charges, Will Face Trial

18Apr

By Mariam AbdullahiNo Comments

News

Court Denies Ex-Gov Obiano’s Request to Drop Fraud Charges, Will Face Trial

A challenge made by former Anambra State governor, Willie Obiano, against the prosecution powers of the Economic and Financial Crimes Commission has been rejected by a Federal High Court in Abuja. Obiano, who is facing trial on nine counts of alleged N4bn theft, was arraigned on January 24. His lawyer, Onyechi Ikpeazu, SAN, filed a preliminary objection questioning EFCC's authority to prosecute him and requested the court to dismiss the charges, citing them as an abuse of the judicial process. The former governor argued that there was no substantial evidence against him. Justice Inyang Ekwo ruled on the matter on Thursday, finding the application lacking in merit and ordering its dismissal. Further details to be provided later…

Paul Offor’s Farewell Letter to Sporting Lagos Post Termination

18Apr

By Ofomata EdidiongNo Comments

Sports

Paul Offor’s Farewell Letter to Sporting Lagos Post Termination

A touching message was shared by the former head coach of Sporting Lagos, Paul Offor, following his recent dismissal from the club. Offor's tenure with Sporting Lagos came to an end on Wednesday night amidst a turbulent debut season in the Nigeria Premier Football League, NPFL. He successfully guided the club to promotion to the top-flight league from the Nigeria National League, NNL, within a year of its establishment. Initially struggling near the relegation zone, Sporting Lagos saw an upturn in performance during the latter part of the season. The team's final game under Offor's leadership was a 1-0 victory over Sunshine Stars on Tuesday. In his heartfelt message, Offor expressed gratitude to the players, management, and all those who contributed to his 15-month tenure at the club. ...

Warning from Tinubu: Agitators for Yoruba Nation will face consequences

18Apr

By Mariam AbdullahiNo Comments

News

Warning from Tinubu: Agitators for Yoruba Nation will face consequences

President Bola Tinubu has issued a stern warning to ethnic agitators who pose a threat to Nigeria's sovereignty and unity, stating that they will be held accountable for their actions. This warning comes in the wake of Yoruba Nation agitators invading the Oyo State House of Assembly Complex in Agodi, Ibadan. A video clip circulating online shows the agitators dressed in camouflage and armed with weapons, proclaiming the independence of the ‘Democratic Republic of the Yoruba’. During a meeting with leaders of the Yoruba socio-cultural body, Afenifere, headed by Pa Reuben Fasoranti, Tinubu addressed the incident. Tinubu emphasized: “Those who believe they can challenge Nigeria's sovereignty will face the consequences. “They will have to bear the consequences of their actions, and we wil...

Suspect Nabbed for Slashing Okada Rider’s Throat and Stealing Motorcycle

18Apr

By Ofomata EdidiongNo Comments

Metro

Suspect Nabbed for Slashing Okada Rider’s Throat and Stealing Motorcycle

Police in Nasarawa State have apprehended a man believed to be involved in a motorcycle theft incident in Masaka. The arrest was conducted by officers from Masaka Division, as indicated in a statement released by DSP Ramhan Nansel, the Police Public Relations Officer for Nasarawa State, on Thursday and shared with the press. Reports from Nansel suggest that Ibrahim Isiaka, who resides in Riverside, Masaka, allegedly cooperated with another person to rob a commercial motorcyclist. As per Nansel, the event unfolded when Isiaka boarded a commercial motorcycle with intentions to journey to Bigmali along Jankanwa road in Masaka. But midway through the trip, Isiaka purportedly launched an assault on the rider with a blade, slicing his throat and making off with the motorcycle. The communica...

UEFA Champions League: Mbappe’s confrontation with Barcelona players post-PSG victory

18Apr

By Ofomata EdidiongNo Comments

Sports

UEFA Champions League: Mbappe’s confrontation with Barcelona players post-PSG victory

Following Paris Saint-Germain's Champions League triumph, Kylian Mbappe instigated a heated altercation in the tunnel with Barcelona players, courtesy of his incendiary remarks that irked the opposing team. Mbappe bagged a brace in the encounter against the La Liga outfit, propelling his side to a commanding 4-1 victory in the return leg. Even though Raphinha initially put Barca in the lead, goals from Ousmane Dembele and Vitinha followed suit. The PSG star sealed the deal with a crucial penalty conversion and a final 89th-minute goal. Post-match proceedings in Spain took a confrontational turn. According to Mundo Deportivo, tensions escalated in the tunnel as Mbappe engaged in a verbal altercation with Barcelona players following a provocative comment made by the French sensation in ...

Senator Dino Melaye and Governor Ortom Clash at PDP Meeting Over Support for Tinubu

18Apr

By Mariam AbdullahiNo Comments

Headlines

Senator Dino Melaye and Governor Ortom Clash at PDP Meeting Over Support for Tinubu

An altercation occurred between Senator Dino Melaye, the Kogi State governorship candidate of the Peoples Democratic Party in the 2023 election, and former Governor of Benue State, Samuel Ortom, during the PDP North Central Zone leadership meeting. Senator Melaye took to his X handle on Thursday to explain that the clash arose from Ortom's public support for President Bola Tinubu of the All Progressives Congress in the 2027 election. Expressing his surprise, Melaye questioned Ortom's attendance at a PDP meeting following his declaration of support for Tinubu. This led to the confrontation at the PDP North Central Zone leadership meeting. He also shared a video from the altercation, originally posted by #iamhistory_, where Melaye was seen confronting Ortom during t...

The NWFL Super Six Playoffs see Four Teams Qualifying

18Apr

By Ofomata EdidiongNo Comments

Sports

The NWFL Super Six Playoffs see Four Teams Qualifying

Securing a spot in the Nigeria Women Football League (NWFL) Super Six playoffs are Nasarawa Amazons, Confluence Queens, Heartland Queens, and Rivers Angels. With 26 points, Nasarawa Amazons emerged at the top of Group A, followed by Heartland Queens and Confluence Queens in the second and third positions respectively. Meanwhile, Rivers Angels are the sole team from Group B to confirm their spot in the playoffs. The final two positions in contention are currently being contested for by Bayelsa Queens, Edo Queens, and Robo Queens. From each group, three teams will secure a spot in the NWFL championship playoffs. The team emerging victorious in the Super Six playoffs will be honored as the 2024 NWFL champions.

Usman Ododo and Ovie Omo-Agege to Lead Ondo APC Primary Election

18Apr

By Mariam AbdullahiNo Comments

Headlines

Usman Ododo and Ovie Omo-Agege to Lead Ondo APC Primary Election

In preparation for the Ondo governorship primary election scheduled for Saturday, the All Progressives Congress has entrusted Kogi State Governor, Usman Ododo, and former Deputy Senate President, Ovie Omo-Agege, with overseeing the process. Appointed to head the seven-man Primary Election Committee responsible for conducting the shadow poll, Ododo will lead the team, while Omo-Agege takes on the role of Secretary. Joining them are other committee members including former Oyo Deputy Governor, Iyiola Oladokun; Senator Lekan Mustapha, Adefunmilayo Tejuoso; Margaret Duru, and Dr. Sani Danjuma. The committee's task is to organize a direct primary across all 18 local government areas of the State to select the party’s candidate for the upcoming November 2024 governorsh...