CBN Relaxes Restriction On Repatriation Of FX Proceeds By Oil Firms.

The apex bank said oil firms can now spend 50% balance of the repatriated export proceeds on financial obligations.The Central Bank of Nigeria (CBN) has relaxed its initial restriction on the repatriation of forex proceeds by international oil firms operating in the country. In a circular dated May 6, 2024 signed by the Director, Trade

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EFCC grills six senior NSCDC officers over N6bn fraud

The Economic and Financial Crimes Commission (EFCC) has arrested six senior officers of the Nigeria Security and Civil Defence Corps over an alleged N6bn fraud. The senior officers are currently being questioned by EFCC interrogators at the commission’s headquarters, Jabi, Abuja. Though details of the probe are still sketchy, the Punch correspondent gathered that the

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NAFDAC Shuts Three Unregistered Bakeries, Water Factory In Rivers

The National Agency for Food and Drug Administration and Control has sealed three unregistered bakeries and a sachet water factory in Port Harcourt, Rivers State. The agency disclosed this in a post on social media on Tuesday, stating that the facilities were operating in “makeshift structures with poor hygiene standards, posed serious health risks to

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First Lady Celebrates Pioneer Nigerian Female Graduate Of UK Military Academy

First Lady, Oluremi Tinubu, on Monday hosted the first female Nigerian graduate of the Royal Military Academy Sandhurst in the United Kingdom, 2nd Lt Oluchukwu. In a statement signed on Monday by the Senior Special Assistant to the First Lady on Media, Kukoyi Busola, Mrs Tinubu was said to have commended Owowoh for her outstanding

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MADRID MUST ‘IMPROVE’ TO OVERCOME BAYERN IN CHAMPIONS LEAGUE

Real Madrid coach Carlo Ancelotti is searching for the formula to take his team’s performance up several notches to get past Bayern Munich on Wednesday and reach the Champions League final. The Italian admitted after the 2-2 semifinal first leg draw last week in Bavaria that Real failed to find their consistent best despite earning

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VAN DIJK WANTS TO BE PART OF LIVERPOOL TRANSITION AFTER KLOPP LEAVES

Liverpool captain Virgil van Dijk said he is happy at the Premier League club and wants to be part of the transition once manager Jurgen Klopp departs. The 32-year-old’s contract runs out at the end of the 2024-25 season, with British media reporting that the Dutch international is a target for Bundesliga side Borussia Dortmund.

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