Headlines
CBN revokes 179 microfinance banks, others’ licences
CBN revokes 179 microfinance banks, others’ licences
The Central Bank of Nigeria (CBN) has revoked the licences of 179 microfinance banks in the country, as well as four primary mortgage banks and three finance companies.
This was disclosed in the official gazette of the Federal Government, which was published on the website of the CBN on Tuesday.
The gazette said that the licences of the financial institutions were revoked because they “ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of six months; failed to fulfil or comply with the conditions subject to which their licences were granted; or failed to comply with the obligations imposed upon them by the Central Bank of Nigeria in accordance with the provisions of Banks and Other Financial Institutions Act (BOFIA) 2020, Act No. 5.”
Read Also: LAPO wins “Microfinance Bank of the Year” award
The CBN Governor, Godwin Emefiele, revoked the licences in the exercise of the powers conferred on the Central Bank of Nigeria under Section 12 of BOFIA 2020, Act No.5.
The microfinance banks include; Atlas Microfinance Bank, Bluewhales Microfinance Bank, Everest Microfinance Bank, Igangan Microfinance Bank, Mainsail Microfinance Bank, Merit Microfinance Bank, Minna Microfinance Bank, Musharaka Microfinance Bank, Nopov Microfinance Bank, Ohon Microfinance Bank, and others.
Finance companies whose licences were revoked include HHL Invest & Trust Limited, TFS Finance Limited and Treasures & Trust Limited while the four primary mortgage banks whose licenses were revoked were Resort Savings & Loans, Safetrust Mortgage Bank, Adamawa Savings & Loans and Kogi Savings & Loans.
Meanwhile, the licences of another set of 47 microfinance banks were also revoked by the CBN, which brings the total of affected microfinance banks to 179.
CBN revokes 179 microfinance banks, others’ licences
Headlines
FRSC warns truck drivers against speeding, reckless driving
Mr Joshua Ibitomi, the Area Commander of Federal Road Safety Corps (FRSC),
Ibeju-Lekki, Epe Division, Lagos State, has warned truck drivers against speeding and reckless driving.
He gave the warning in an interview with the News Agency of Nigeria (NAN) in Ibeju-Lekki on Tuesday.
The FRSC official, who blamed speeding on the ghastly vehicle accident that occurred at Aiyetoro market in Epe
which claimed several lives and left some injured, said that with careful driving, such accident could be avoided.
He added that “the accident was as a result of speeding, reckless driving and loading of truck beyond its capacity.
“All these are factors responsible for accident when drivers are not conscious of the driving rules.
“Vehicle can develop technical fault at any time, therefore, speed limit and caution need to be applied while driving.”
He said FRSC had been sensitising drivers on the need to install speed limit device and be road conscious while driving, in line with the mandate to instill decent use of road.
Ibitomi also advised passers-by and the public to be safety conscious while walking on roadsides to avoid falling victim of accidents.
He attributed major road crashes on roads to speed limit violation, urging drivers to respect the sanctity of human life by obeying traffic rules.
He added that the FRSC had evolved measures to ensure accident-free yuletide and new year festivities in 2024
Headlines
Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters
Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.
At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”
“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”
Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.
“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.
In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.
As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.
“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.
Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”
While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.
“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.
The contrasting scenes highlighted the nation’s deep political divide on election night.
Headlines
Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties
President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.
The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.
Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.
Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”
Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.
Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”
The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.
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