Security agencies have begun investigating an unverified forex payment totaling $2.4 billion.
Security agencies are currently investigating a $2.4 billion foreign exchange scam, as confirmed by Yemi Cardoso, a representative of the Central Bank of Nigeria (CBN).
Cardoso revealed that these transactions, flagged as ineligible for payment, are under scrutiny due to inadequate documentation and suspected illegality. The revelation came after a meticulous forensic audit, conducted to identify legitimate requests among a backlog.
Management consultants Deloitte were engaged by the CBN for this purpose, revealing discrepancies in several transactions. Cardoso emphasized the CBN’s commitment to maintaining transparency and addressing outstanding contractual obligations while combating inflation and ensuring price stability. #naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
The Central Bank of Nigeria directs BDC operators to offer the dollar at N1,269.
The Central Bank of Nigeria (CBN) has directed each Bureau de Change (BDC) operator to sell dollars to eligible customers at a rate not exceeding 1.5 percent above the purchase price, indicating that the BDCs are not expected to sell above N1,269/$1. This was disclosed in a circular signed by
Dr. Hassan Mahmud, the Director of the Trade and Exchange Department
Dr. Hassan Mahmud, the Director of the Trade and Exchange Department, on Monday. Additionally, the CBN announced the allocation of $10,000 to each BDC at the rate of N1,251/$1. This decision comes after the suspension of foreign exchange sales to BDCs in July 2021, with accusations of violating FX regulations. The naira maintained a steady appreciation against the US dollar, closing at 1,408/$ at the official market.
CBN Governor Olayemi Cardoso outlined a strategy to curb inflation, stabilize the exchange rate, and boost confidence in the banking system and economy, aiming for sustained growth in foreign currency reserves and improved liquidity in the forex market. Analysts suggest that enhancing liquidity injects more money into the financial system, aiding in stabilizing the forex market and boosting the economy’s dollar supply.#naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
The Nigerian government has flagged betting sites and crowdfunding as channels for financing IPOB, bandits, and other terrorist groups.
The Nigerian Financial Intelligence Unit (NFIU) revealed that terrorist organizations in Nigeria, such as IPOB and Boko Haram, receive funding through global crowdfunding, online transactions, and sports betting platforms. They have identified various channels used by these groups to finance their activities, including affiliates in multiple countries, bank accounts, and suspicious transactions involving large sums of money.
The NFIU has urged law enforcement agencies to investigate these financial activities to disrupt terrorist financing networks.
#Naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Breaking news: The Central Bank of Nigeria hikes interest rate to 24.75% amidst Nigeria’s inflation surge to 31.7%.
The Central Bank of Nigeria has raised its monetary policy rate to 24.75% from 22.75% in response to soaring inflation, which reached 31.70% in February. CBN Governor Olayemi Cardoso announced the decision at the 294th Meeting of the Monetary Policy Committee press briefing. This marks the second rate hike by the current committee. The Cash Reserve Ratio (CRR) has also been increased to 45%.
Despite the tough decision, there was a consensus among the committee members to tighten monetary policy.
Cardoso attributed the inflation rise mainly to food prices driven by supply shortages and high logistics costs. He emphasized the importance of addressing food insecurity to curb inflation. Despite the tough decision, there was a consensus among the committee members to tighten monetary policy.
The inflation drivers include exchange rate pass-through, transportation costs, energy expenses, insecurity, and infrastructure deficits. President Bola Tinubu’s reforms have bolstered the currency and attracted increased foreign investment, with inflows reaching $2.3 billion in February, surpassing the 2023 total. Foreign investor portfolio trades on the Nigerian bourse also rose by 18% in February 2024.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Breaking: Nigerian army announces date for the burial of 17 soldiers slain in Delta.
The Nigerian Army has announced the burial date for 17 soldiers killed in Delta State during a peacekeeping mission. The soldiers, slain in Okuama community, will be laid to rest on Wednesday, March 27, 2024, at the National Cemetery in Abuja at 3 pm.
President Bola Ahmed Tinubu will attend as the Special Guest of Honour. Tinubu condemned the killings, vowing that the perpetrators would face justice. He also pledged to honor the fallen soldiers with national awards. #naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Watch a viral video showing church members using mortar and pestle to attack perceived enemies, with some labeling them as gullible.
Religious manipulation remains a significant issue in Nigeria and other African countries, highlighted by a trending video circulating online. The footage depicts church members engaging in a controversial practice during a service, where they are compelled by their pastor to use mortar and pestle to chase away perceived enemies from their lives.
In the viral clip, the church members are seen vigorously pounding with their mortar and pestle, reminiscent of pounding yam, as they aggressively attempt to rid themselves of their supposed adversaries. #naijaeyesblog
Breaking: Fatalities feared as US bridge collapses following ship collision.
Tragedy struck in Baltimore, US, as a cargo ship collided with the Key Bridge, leading to its collapse. Many fatalities are feared, with emergency teams searching for at least seven individuals. Both directions of the interstate lanes were closed following the incident, as traffic was redirected. The Mayor of Baltimore and the County Executive assured that rescue efforts were ongoing. #naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Breaking news: The Nigerian Army will free more than 200 individuals who have been held in custody for their associations with Boko Haram.
The Nigerian Army plans to release more than 200 detainees who have been cleared of any ties to the Boko Haram terrorist group. The detainees were apprehended as part of the military’s efforts to combat terrorism in the northern region, spanning over a decade.
They will be handed over to the Borno State Government for rehabilitation and reintegration into society. The handover ceremony is scheduled to take place at Giwa Barracks in Maiduguri, the state capital, on Tuesday morning. Governor Babagana Zulum of Borno has also allocated ₦1 billion for the training of teachers across the state’s 27 local government areas, underscoring the government’s commitment to improving the education sector.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Breaking News: A Chinese citizen has been sentenced to death by hanging for the murder of his Nigerian girlfriend in Kano.
In Kano, a Chinese national named Frank Geng-Quangrong has been sentenced to death by hanging for the murder of his girlfriend in 2022. Justice Sanusi Ado-Ma’aji delivered the ruling on Tuesday, finding the accused guilty and sentencing him accordingly. The victim, a young Nigerian woman known as “Ummita,” was on her one-year mandatory service with the National Youth Service Corps (NYSC) in Nigeria.
The murder, which occurred at Janbulo Quarters in Kumbotso Local Government Area of Kano, sparked nationwide anger and outrage. Ummita was buried in accordance with Islamic rites last Saturday. The victim’s mother, Hajiya Fatima Zubairu, expressed satisfaction with the judge’s decision, speaking to reporters after the judgement.
#naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
CBN initiates dollar sales to BDCs at N1,251/$1 as Naira strengthens.
In a recent circular, each BDC is directed to sell dollars to eligible customers at a rate not exceeding 1.5% above the purchase price, suggesting a cap of N1,269/$1. This marks the resumption of dollar sales to BDC operators after a suspension in 2021. With over 4,173 BDC licenses revoked earlier in the year, the exchange rate fell below N1,400/$1 in the parallel market.
The estimated 1,500 remaining licenses may have seen over $15 million sold into the retail market. The move reflects the CBN’s focus on enhancing liquidity in the forex market and aims to stabilize exchange rates. This strategy is expected to make forex more accessible to retail and small-scale enterprises, potentially leading to a stronger Naira in the short term.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
A Florida court has mandated that a local resident remove a boat made from a shipping container from a lagoon.
A federal court in South Florida has ordered Fane Lozman to remove his homemade floating structure, crafted from a modified shipping container and docks, from Lake Worth Lagoon. Lozman’s actions were deemed a violation of the Rivers and Harbors Act for placing unauthorized structures in navigable waters.
Despite partial removal attempts, two docks and the container remain. Lozman has a history of similar violations, with a previous instance resulting in the confiscation and destruction of his floating fortress by the City of Riviera Beach in 2009.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Breaking news: Bassirou Diomaye Faye, aged 44, emerges victorious in the presidential election in Senegal.
Opposition candidate Bassirou Diomaye Faye is poised to become Senegal’s next president, according to the provisional results announced by the National Election Commission on Monday.
The Senegal Electoral Commission reported that Faye secured 53.68% of the vote, while the ruling coalition’s candidate, Amadou Ba, received 36.2% with 90% of polling station results counted. Ba conceded defeat earlier in the day, as did several other contenders, recognizing Faye and Ba as the primary presidential contenders.
At 44 years old, Faye is also set to become the youngest president in the country’s history.
Outgoing President Macky Sall extended his congratulations to Faye prior to the official announcement of results, acknowledging the smooth conduct of the election and the democratic victory. With Faye surpassing the 50% threshold, the need for a runoff vote is eliminated.
Sunday’s election witnessed a high turnout and was largely peaceful, according to observers. Preliminary results from fully counted polling stations were disseminated on social media overnight.
In response to his victory, Faye expressed gratitude
In response to his victory, Faye expressed gratitude to President Macky Sall and fellow candidates for upholding Senegal’s democratic principles by acknowledging his win well before the official announcement. He pledged to govern with humility and transparency.
Faye, relatively unknown outside his party, was recently released from jail before the election. He holds a senior position in the party led by opposition figure Ousmane Sonko, who was disqualified from the presidential race due to a defamation conviction he claims was politically motivated.
The opposition’s campaign focused on combating government corruption
The opposition’s campaign focused on combating government corruption and safeguarding Senegal’s economy from foreign influences. Ba, supported by Sall, resigned as prime minister to campaign. Sall’s decision not to seek a third term, as mandated by the constitution, followed unrest last summer. The elections proceeded despite Sall’s earlier attempt to postpone them, which triggered violent protests.
#naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Kim Kardashian cites personality issues as reason behind Kanye West split
Kim Kardashian’s reflections on her marriage with Kanye West offer a glimpse into the complexities of their relationship. While she acknowledges his musical talent and financial success, she underscores the significance of personal compatibility and character in sustaining a partnership. It’s not uncommon for couples to face challenges rooted in differences in personality or approach to life, and these differences can sometimes become insurmountable despite other strengths within the relationship.
Kanye was influenced by her recognition that while he may excel in certain areas, their personalities were ultimately incompatible.
It seems Kim’s decision to separate from Kanye was influenced by her recognition that while he may excel in certain areas, their personalities were ultimately incompatible. This openness about the intricacies of their relationship sheds light on the realities of marriage and the importance of personal fulfillment and compatibility in maintaining a healthy partnership.
What is your reaction to this? Is this enough to spilt. kindly let us know in the comment section
#naijaeyesblog
REACTIONS
ee____2000: You no like him personalty you born 4children,if you wan cun like him personality you go born 8…..Mtcheeeeeew. lumzylight: Personality after Four kids …. otida lol. bigbaebiii: Na so o… A person can be everything,even the sweetest but just one terrible flaw will make you wanna leave. God abeg. ada_ideato: If na Nigerian women now eh, they will drag. The man like i@pass my neighbor gen! Just see how she acknowledged the good sides of him. luckysam4223: If u proud of dis guy as u said u shouldn’t have divorced him.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Nigerian singer Portable and celebrity Bobrisky are feuding again! A leaked audio clip shows them trading insults on social media.
The fight started after Bobrisky won “Best Dressed Female” at a movie premiere. Portable thinks Bobrisky shouldn’t have won and said some nasty things online. Bobrisky fired back with insults of his own. The back-and-forth gets heated, with both exchanging curses and threats.
Social media is having a field day with this fight. Some people are taking sides, while others are just enjoying the drama.
Who do you think won this Fight? Let get your own view. #naijaeyesblog
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
