Abuja

‘Stop Frustrating Us’ – Nigerian Nurses March Against New Certificate Verification Guidelines

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Eko Hot Blog reports that nurses under the aegis of the National Association of Nigeria Nurses and Midwives, Abuja chapter, on Monday, protested against the new verification certification guidelines released by the Nigeria and Midwifery Council of Nigeria (NMCN). The protest held on Monday at the NMCN’s office in Abuja. The nurses expressed displeasure over … Read more

FG Set To Disburse N200 Billion To Manufacturers, Traders, Vendors, Others To Boost Local Production

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Bola Tinubu

Eko Hot Blog reports that the Federal Government through the Bank of Industry (BOI) has announced that it will award three funding categories totalling N200 billion to assist companies and manufacturers nationwide. A statement from the development bank mentioned that the money was from the FGN MSME Intervention Fund, the FGN Manufacturing Sector Fund, and … Read more

Relief For Nigerians As Glo, MTN Resolve Interconnect Debt Dispute

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Eko Hot Blog reports that the Nigerian Communications Commission (NCC) is pleased to announce that the interconnect debt dispute between MTN Nigeria Communications Plc. (MTN) and Globacom Limited (Globacom) has been amicably resolved.

Mike Adenuga, Globacom Network Owner

Reuben Muoka, Director of Public Affairs NCC in a statement noted “ In accordance with this resolution, the disconnection approval granted to MTN for the disconnection of Globacom has now been withdrawn.

“Following its initial Public Notice, the Commission with the aim of mitigating any potential disruptions to subscribers undertook further regulatory intervention, by mediating between the parties and facilitating the reconciliation process.

“The Commission reiterates that strict adherence to the terms and conditions of licenses, particularly those delineated in interconnection agreements, is imperative for all Mobile Network Operators (MNOs) and other licensees within the telecommunications industry.

“In order to proactively address and prevent future instances of interconnect indebtedness within the industry, the Commission will be requesting relevant records and regular updates from MNOs, as well as adopting a transparent approach towards industry indebtedness.

NCC Building

“This statement serves as a reminder of the Commission’s commitment to fostering a stable and compliant telecommunications ecosystem in Nigeria”.

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Tinubu Launches Renewed Hope Housing Project In Abuja [Photos]

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Eko Hot Blog reports that President Bola Tinubu, on Thursday, launched the Renewed Hope Cities and Estate project at Karsana, area of the Federal Capital Territory (FCT). Tinubu flaged off the construction of 3,112 pilot housing project, which marks the commencement of a nationwide project aimed at delivering 100,000 housing units through a Public-Private Partnership … Read more

BREAKING: Fresh Protest Breaks Out In Suleja Over Rising Food Prices

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Eko Hot Blog reports that a fresh round of protests has broken out in Suleja, the commercial nerve centre of Niger State which is only a few kilometres away to the Federal Capital Territory, Abuja. The angry Nigerians stormed the streets on Wednesday, according to photographs obtained by SaharaReporters, calling on the President Bola Tinubu-led … Read more

FG Initiates Plan To Distribute Grains To Nigerians To Cushion Soaring Food Prices

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Eko Hot Blog reports that the Chief of Staff to the President, Mr. Femi Gbajabiamila, met behind closed doors with the National Security Adviser, NSA, Mallam Nuhu Ribadu, and some ministers at the Presidential Villa, Abuja, yesterday, over food security and protests in some states. The meeting, which began at about 05:30 pm, also had … Read more

JUST IN: Tinubu Returns To Abuja After Two-week Private Visit To France

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Eko Hot Blog reports that the President Bola Tinubu has returned to Nigeria after spending two weeks in France on a private visit. Recall that the President had on Wednesday, 24th of January departed Abuja for Paris, France. In a statement by the special Adviser to the President On Media and Publicity, Ajuri Ngelale, President … Read more

Police Arrest Notorious Kidnapping Suspect Buhari Muhammad, Five Accomplices In Abuja Hotel

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Eko Hot Blog reports that the Authorities in the Federal Capital Territory (FCT) have apprehended suspected notorious kidnappers, including one Buhari Muhammad, along with five other members of the syndicate in Abuja. In a statement released on Monday by the FCT Police Public Relations Officer, SP Josephine Adeh, it was disclosed that the suspects were … Read more

BREAKING: First Lady, Remi Tinubu Meets State Governors’ Wives In Abuja [Video]

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Eko Hot Blog reports that the First Lady of Nigeria, Oluremi Tinubu, has met with the wives of state governors in Abuja The meeting, which was held in the Aso Rock Villa, discussed ways for intervention in agriculture, health, education and empowerment in 2024. Monday’s meeting is the first of it’s kind in 2024. The … Read more

Nigeria Suffers Another Blackout As National Grid Collapses Again

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Eko Hot Blog reports that Nigeria’s national grid has collapsed to zero megawatts, leading to a total blackout nationwide. Multiple power distribution companies (DisCos) disclosed the significant development in separate statements on Sunday. This is the first time the grid has collapsed this year. The grid had collapsed three consecutive times in 2023. The DisCos … Read more

Ekiti Pulpils Kidnap: Parents Cry Out For Support As Kidnappers Turn Down N7m

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Ekiti and Osun governorship elections

Eko Hot Blog reports that Ekiti State Governor, Biodun Oyebanji, on Saturday assured parents and families of kidnapped pupils and staff of the Apostolic Faith Group of Schools, Emure Ekiti, that they would soon be rescued to rejoin them. Oyebanji promised that efforts were in top gear to secure the release of the abductees safely … Read more

Financial Stability: CBN Introduces Fresh Cash Reserve Measure

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Eko Hot Blog reports that the Central Bank of Nigeria (CBN) on Friday said that it will no longer be debiting daily amounts from the Cash Reserve Ratio and will instead be implementing an improved Cash Reserve Requirement method.

CBN Governor, Michael Cardoso

This development will make it easier for banks to plan, monitor, and align their records with those of the central bank, according to the CBN.

This directive was issued by the CBN on Friday in a circular titled “Cash Reserve Requirement Framework Implementation Guidelines,” which was signed by Dr. Adetona Adedeji, acting director of the department in charge of banking supervision.

The Cash Reserve Ratio is the proportion of required cash held in reserves to total deposits made by the bank.

A methodical approach, as delineated by the CBN, shall be employed in the execution of the new framework for cash reserve requirements.

The statement read, “The determination of the segment of deposits subject to sterilisation with the CBN as CRR will follow the processes outlined below:

Central Bank Of Nigeria

“Phase 1 – Utilisation of the Incremental Approach: The extant ratios (commercial banks 32.5% and merchant banks 10%) will be applied to increases in the banks’ weekly average adjusted deposits.

“Phase 2 — CRR levy of 50% of the lending shortfall will be enforced for banks that do not meet the minimum Loan to Deposit Ratio (LDR) as per our correspondence to all banks referenced BSD/DIR/GEN/LAB/12/049 dated September 30, 2019.

The CBN further stated that banks will receive information about the levies imposed and the reasoning behind them.

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[JUST IN] Forex Crisis: Customers Stranded As Abuja Black Market Traders Close Shops

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Exchange rate

EKO HOT BLOG reports that customers seeking to buy or sell dollars were on Thursday, February 1, stranded as the Foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading. Many customers were sent back by the union’s Task Force. EDITOR’S PICKS Trailer Driver Falls Off Lagos-Ibadan … Read more

Sowore Speaks On Working With Labour Party, PDP, Others

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Eko Hot Blog reports that revolution now conveyer and presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has publicly stated his reasons for not aligning with Peter Obi’s Labour Party. In a recent video posted on his X handle on Wednesday, Sowore elaborated on the ideological differences that set his party apart from … Read more

JUST IN: FHA Staff Kidnapped In Abuja

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Allocation of FCT's N1.28 Trillion Budget

EKO HOT BLOG reports that following the report of abduction of two teenage sisters by suspected bandits at Guita community, Chikakore in Kubwa, Bwari Area Council of the Federal Capital Territory (FCTA) Abuja on Wednesday, a staff of Federal Housing Authority (FHA) has been kidnapped at Pambara New Extension, Bwari Central Area of FCT at about … Read more

Wike Vows To Complete Major FCT Projects Before May 29

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Allocation of FCT's N1.28 Trillion Budget

EKO HOT BLOG reports that the Minister of the Federal Capital Territory (FCT) Nyesom Wike has reiterated his promise to deliver some ongoing major projects before President Bola Tinubu’s one year in office on May 29. Wike, who made this promise yesterday after inspecting some major projects in Abuja, said he was working day and night … Read more

1,500 CBN Staff Resume Duties At Lagos Office After Redeployment

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Eko Hot Blog reports that 1,500 Central Bank of Nigeria staff members are set to resume at its Lagos office after being redeployed from the headquarters. According to PUNCH, a source at the apex bank revealed that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday. “Yes, … Read more

Mali, Burkina Faso, Niger’s Withdrawal Sparks Concerns Over ECOWAS $277bn Trade

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Eko Hot Blog reports that the departure of Mali, Burkina Faso, and Niger Republic has cast a shadow over the $277.22bn trade of the Economic Community of West African States with the world. In 2022, total trade volumes, including imports and exports, from the ECOWAS region totaled $277.22bn according to data from the region’s Trade … Read more

Afenifere Reveals Those Behind Increasing Cases Of Kidnappings In Nigeria.

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Eko Hot Blog reports that the pan-Yoruba socio-cultural and political organisation, Afenifere, has alleged that some insiders may be responsible for the lingering security crisis in the country particularly the ravaging kidnapping for ransom. The organisation called on President Ahmed Bola Tinubu, to urgently convene a community/stakeholders meeting to tackle the increasing insecurity in the … Read more

Police Parade Suspected Kidnappers, Other Criminal Elements In Abuja

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Eko Hot Blog reports that Police authorities in Abuja have arrested some suspected bandits, and kidnappers, saying they also rescued 154 abductees in the area in two weeks. Force Spokesman Muyiwa Adejopu said this in a late Friday statement, saying the successes were due to the recent launch of the Special Intervention Squad (SIS) in … Read more

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