Nigerian bank customers will start paying more for their electronic transfers. This comes after the CBN directed banks to charge a “cybersecurity levy”. The levy takes effect in two weeks. Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has directed all financial institutions to implement a 0.5 percent cybersecurity levy on electronic … Read more
Eko Hot Blog reports that the Socio-Economic Rights and Accountability Project (SERAP) has charged the governors of the 36 states and the Minister of the Federal Capital Territory, Nyesom Wike to court for their failure to disclose and publish the terms of the ₦5.9 trillion and $4.6 billion loans secured by their states and the … Read more
President Tinubu recently signed the Student Loans (Access To Higher Education) Act, 2024 into law. The law was reenacted after the old act was repealed over challenges bordering on governance and management, amongst others. The new law features various changes that separate it from the repealed act. Eko Hot Blog reports that the Federal Government … Read more
EKO HOT BLOG reports that Civil society organizations in Kebbi State have expressed strong criticism of Governor Nasiru Idris for his decision to gift brand new SUVs to members of the state House of Assembly, state executive members, and heads of parastatals. The move, though seen as a gesture of appreciation, has been widely condemned for … Read more
President Buhari asserts that he did not taken any loans or incurred liabilities during his eight-year tenure. His assets declaration form submitted to the Code of Conduct Bureau (CCB) shows no increase in movable assets or additional bank accounts. The former president also mentions a slight decrease in the number of animals on his farm … Read more
CBN has lamented over the poor repayment of the apex bank loans provided to the public. EKO HOT BLOG reports that the Deputy Governor (Financial System Stability Directorate) of the Central Bank of Nigeria, Aishah Ahmad, has expressed concerns over the poor repayment of loans provided by the apex bank. Aishah, while speaking at the … Read more
Soko Loans, in terms and conditions, grants its customers loans without collateral and lengthy paperwork. The user can then download the mobile application on their phone and activate a direct debit in the company’s favour. However, accepting the terms and conditions of the app gives the company access to the users phone contacts. The Federal … Read more
Former Vice-President Atiku Abubakar has admonished the national assembly to decline the approval of any new loan request meant for project that will not contribute any revenue to the government purse. Atiku gave the admonition in a letter to the president of the senate, Ahmad Lawan, on Monday. The presidential candidate of the Peoples Democratic … Read more
Director, Financial Policy and Regulation at the Central Bank of Nigeria, Mr. Kevin Amugo, says Nigerian banks recovered about N50.32m bad loans from debtors within nine days after the country commenced operations of the Global Standing Instruction. Amugo disclosed on Tuesday at a webinar organised by the Chartered Institute of Bankers of Nigeria Dialogue Series … Read more
Socio-Economic Rights and Accountability Project (SERAP) has instituted a legal action against President Muhammadu Buhari over country’s loan. In a suit filed by its lawyers, Kolawole Oluwadare and Adelanke Aremo, at Federal High Court, Abuja the group is demanding full disclosure of the conditions and details of loans obtained by Buhari’s government since May 29, … Read more
The Minister of Transportation, Mr Rotimi Amaechi has observed that the investigations of loans taken by the Federal Government could send wrong signal to the lenders. Amaechi made tthe observation at an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja. Read Also: Southern Kaduna: Why We Can’t … Read more
The presidency on Sunday enjoined those castigating the federal government for taking more loans to refrain from doing so. It asserted that there was nothing wrong in taking loans as the borrowings were aimed at financing specific project and critical aspects of the economy. Presidential spokesman Femi Adesina made the assertion when he featured on … Read more