The Judge, Justice Halilu Yusuf, granted bail after Emefiele was arraigned on an eight-count charge accusing him, among other things, of unlawfully acquiring a housing estate comprising 753 units and allegedly stealing billions of naira in proxy accounts. In the ruling, Justice Yusuf indicated that Emefiele had been granted bail in three additional criminal cases […]
In a statement released by its Deputy Director, Kolawole Oluwadare, SERAP’s suit followed a landmark judgment by the Supreme Court last July, which held that allocations from the Federation Account with the CBN must be paid directly to democratically elected local government councils and that no governor has the power to keep, control or use […]
CBN Governor Yemi Cardoso announced the decision in Abuja following the 300th Monetary Policy Committee (MPC) meeting. Mr Cardoso said that all 12 MPC members voted unanimously to hold key monetary parameters. The committee retained the cash reserve ratio at 50 per cent for deposit money banks and 16 per cent for merchant banks. The […]
…orders Ameawhule to resume sitting with all elected lawmakers.
Justice Yellim Bogoro in a judgment delivered today also ordered the final forfeiture of investments worth $900,000 traced to one of Emefiele’s close relatives, Anita Omoile.
Cardoso made the plea while delivering his keynote address at the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos. He pleaded and advised Nigerian youths not to leave the country, as the bank was working on building an economy where businesses could thrive. Read Also: CBN lifts ban […]
Justice Akintayo Aluko had on August 15, ordered an interim forfeiture of $2.045 million and some landed properties linked to Emefiele. The judge granted the forfeiture order after taking the submissions of Rotimi Oyedepo ,SAN, leading Chineye Okezie and Zeenat Atiku-Bala, who moved an ex parte motion for the order on behalf of the Economic […]
Governor, Central Bank of Nigeria, Olayemi Cardoso has said that the apex bank will support measures to boost the nation’s external reserves including the proposed Eurobond issue by the Federal Government. Cardoso who stated this in an interview said they should have a diversity of sources. It shouldn’t just be the eurobond market or foreign portfolio […]
According to the National Bureau of Statistics, the headline month-on-month inflation rate decreased to 2.14 per cent in May, down from 2.29 per cent in April and 3.02 per cent in March. Food inflation also fell for the third consecutive month to 2.28 per cent in May. The Deputy Governor of the Economic Policy Directorate […]