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The Central Bank of Nigeria (CBN) increased the monetary policy rate (MPR) by 400 basis points, elevating it to a historic high of 22.75% to combat inflation and foster economic stability.
This pivotal adjustment signifies a major shift from the previous rate of 18.75%, which had been in effect since the Monetary Policy Committee’s (MPC) meeting on July 24th and 25th, 2023.
The recent announcement, made by CBN Governor Yemi Cardoso, highlights the central bank’s proactive approach towards monetary tightening amidst challenging economic conditions.
This unprecedented move has not only set the MPR at its highest level to date but also reflects the CBN’s determined effort to address the persistent economic pressures.
The decision has garnered praise from the International Monetary Fund (IMF), which commended the MPC’s resolve to tighten monetary policy further by increasing the policy rate to 22.75%.
Such a strategic manoeuvre aims to curb the inflation surge, which recorded a year-on-year peak of 31.70% in February 2024, and to mitigate the depreciative pressures on the naira.
Since May 2022, this has accumulated to a total policy tightening of 1,025 basis points, showcasing the CBN’s commitment to restoring macroeconomic equilibrium.
However, the steep increase in the policy rate has sparked concerns regarding the potential impact on the cost of credit for businesses already facing economic hardships.
Each bank offers different lending rates that reflect their respective approaches to lending to the manufacturing industry.
The prime rate indicates the best possible rate offered to the most creditworthy customers, while the maximum rate suggests the upper limit of interest rates for loans to the sector, which might apply to higher-risk scenarios or different loan structures.
Here are the top 10 banks with the highest prime lending rates for manufacturing firms in Nigeria, according to the CBN as of March 8, 2024:
10. Titan Trust Bank
With a prime rate of 23.00%, this bank offers competitive lending options for the manufacturing sector. Its maximum rate stands at 30.50%, indicating a range of loan products that could cater to different types of manufacturing businesses.
9. Optimus Bank
Offering a prime rate of 23.75%, Optimus Bank positions itself as a strong contender for manufacturing firms looking for loans. The maximum rate here is 35.00%.
8. Fidelity Bank
With a prime lending rate of 24.00%, Fidelity Bank is another bank that serves the manufacturing industry with tailored financial solutions. Its maximum rate is comparatively lower at 26.00%, potentially indicating a narrower range of loan products or more consistent loan terms.
7. Providus Bank
At a prime rate of 25.00%, Providus Bank extends credit to the manufacturing sector, likely with various loan options, as suggested by its maximum rate of 30.00%. This could mean a variety of terms and conditions to meet the different financial needs of manufacturing businesses.
6. Unity Bank
Unity Bank’s prime rate for manufacturers is 26.00%, with a maximum lending rate of 33.00%. This spread allows for flexibility in financing, offering a range of possibilities for manufacturers with varying credit needs.
5. Ecobank
With a prime rate of 26.75%, Ecobank offers one of the highest rates to the manufacturing sector. The maximum rate of 35.00% indicates that the bank has a broad spectrum of loan products, which could cater to a wide array of manufacturing ventures.
4. Heritage Bank
Offering a prime rate of 27.00%, Heritage Bank stands as one of the highest lending options for the manufacturing industry. Its maximum rate of 35.00% showcases its readiness to accommodate various manufacturing operations with diverse financial requirements.
3. United Bank for Africa (UBA)
United Bank for Africa presents a prime rate of 28.50%, making it the third most expensive lending option for the manufacturing sector. The bank’s maximum rate is 32.00%, signifying a range of loan options available to manufacturers.
2. Wema Bank
With a prime rate of 30.50%, Wema Bank is among the most expensive lenders for manufacturing firms in Nigeria. The bank’s maximum rate is at 31.50%, which likely suggests a lesser appetite for loans to manufacturers.
1. Keystone Bank Ltd
Keystone Bank Ltd leads with the highest prime rate of 31.00%, making it the most expensive in lending to the manufacturing sector. The maximum rate of 36.00% is also the highest on this list.
Recommended reading: CBN’s 22.75% interest rate hike sparks fears of increased non-performing loans- Experts
[Nairametrics]
The Central Bank of Nigeria (CBN) has sold dollars to Bureau De Change operators at the rate of N1,251/$1.
According to a statement issued by the apex bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud, $10,000 was made available to each of the BDCs which benefited from this.
The BDCs were directed not to sell the dollars at a rate which exceeds 1.5 per cent above the purchase price, meaning that it should not be sold beyond N1,269 per dollar.
“We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CB approved a second tranche of sale of FX to eligible BDCs.
“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not mora than 1.5 per cent above the purchase price.
“ALL eligible BDCs are directed to make the Naira payment to the underlisted CBN Naira Deposit Account Numbers before close of business on Thursday March 28, 2024, and submit confirmation of payment, with other necessary documentation, for disbursement at the appropriate CBN Branches.”
The bank threatened sanction to any BDC that breaches its directive.
“Please note that any BDC that breaches above terms shall be sanction appropriately, including outright suspension from further participation in the sale,” the statement read.
Last month, the bank had announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country.
Former CBN governor, Godwin Emefiele, had stopped the sales of foreign exchange to BDCs in 2021.
[DailyTrust]
Minister of Information and National Orientation, Mohammed Idris on Monday said there is no hiding place for Nadeem Anjarwalla, a Director of Binance who escaped from custody and fled the country after he was detained by the Nigerian Government.
The minister said the International Police (Interpol) were currently on Anjarwalla’s trail.
Idris was reacting to the Binance executive’s escape from Nigeria.
According to Idris, since Binance is an international firm, there is no way the culprit will evade arrest.
His explanation came barely few hours after the Office of the National Security Adviser confirmed that Anjarwalla, a key suspect in the ongoing criminal investigation regarding Binance’s activities in Nigeria, managed to escape lawful custody on Friday, March 22nd, 2024.
In an official statement released by the Head of Strategic Communication for the Office of the National Security Adviser, Zakari Mijinyawa, it was explained that collaborative efforts between the office, relevant security agencies, various government bodies and the international community are already underway to swiftly locate and detain the fugitive.
The statement stressed that security agencies are working with Interpol for an international arrest warrant on the suspect as preliminary investigation shows that Anjarwalla fled Nigeria using a smuggled passport.
The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention.
It would be recalled that the Federal Government of Nigeria, like other governments around the world, has been investigating money laundering and terrorism financing transactions perpetrated on the Binance currency exchange platform.
Anjarwalla, who holds British and Kenyan nationalities and serves as Binance’s Africa regional manager, was being tried by Nigerian courts before he escaped while under a 14-day remand order issued by a court.
He was scheduled to appear before the court again on 4 April 2024.
[DailyPost]
The Federal Government on Monday said it would carry out a census of all schools in the country.
The government said the data from the census would assist in tackling the challenges facing the sector.
The Minister of Education, Prof. Tahir Mamman, stated this in Abuja on Monday at a two-day capacity-building workshop for desk officers in the ministry, its departments, and agencies.
Mamman said the school data would help the ministry to advise the state governments to move to do the right thing.
He said: “It is our plan that by the end of this year or early next year, we will be signing a partnership contract with a firm that will be working with our IT people to generate data on all schools in Nigeria.
“This is because we need to know our teachers and every single student; we need data to know the trend of learning and our school infrastructure.
“This exercise will enhance decision-making and policy formulation as the data collected and collated will aid evidence-based planning, measure implementation and progress, and identify areas where improvement is required.”
The Minister also decried the rate of learning crisis in the country saying a report submitted to him showed that some pupils found it difficult to identify numbers while many could neither read nor solve simple mathematical questions.
He however noted that impacting soft basic skills on students was a part of the ministry’s plans towards achieving its deliverables.
The Minister said the training was aimed at enhancing the capacity to track, collate, harmonise and report progress in the implementation of the Ministerial Deliverables and the Education Sector Roadmap.
“It will further ensure that government policies and programmes are effectively tracked and implemented,” he added.
He charged heads of MDAs, desk officers, and other participants to tailor their programmes, activities, and projects towards the realisation of the deliverables.
The myinister urged the participants to turn in timely, credible and reliable report of the activities, programmes and projects of their departments and organisations.
Mamman said: “The uppermost focus of the Ministry in general is in the areas of ensuring the generation of credible, timely, and reliable education data at all levels and the promotion of skill development.
“It is also in the enhancement of skill development across the entire education landscape for innovative and employability education; teacher training and development; and reducing the number of out-of-school children in Nigeria.
“I believe if we get it right in education, everything else will fall into place.
“The doctors who man our hospitals, the nurses who deliver the vaccines, the engineers in charge of our construction work—everybody is the by-product of our activities.”
The Minister commended the government of Kaduna State and the security organisations for helping in the release of the 287 abducted schoolchildren in the state.
The Senior Education Officer, Foreign Commonwealth Development Office (FCDO), Ian Attfield, pledged to support the government in actualising the deliverables and addressing the learning crisis through continuing education financing.
[TheNation]
A former governorship aspirant in the Peoples Democratic Party’s (PDP) recently conducted governorship primary election and a former member of the House of Representatives, Hon Omosede Igbinedion has expressed reservation on the way Governor Godwin Obaseki has piloted the affairs of the party as its leader since he joined at the eve of his re-election bid in 2020.
In a statement by Igbinedion titled “The hypocrisy of politics”, she said the old members of the party that Obaseki came to meet in the party have been pushed out of the scheme of things as principal offices in the Obaseki administration were taken by himself and those who came with him from the All Progressives Congress (APC).
She said the same thing has played out after the primary election that produced Asue Ighodalo as the candidate of the party with the choice of the Secretary to State Government (SSG) Osarodion Ogie Esq. as his running mate.
Igbinedion said she expected that the running mate to Ighodalo should have been ceded to the old PDP to give them a sense of belonging.
She also criticized those who have been claiming that she was on her way to the APC because of a recent visit to his Abuja home by the APC governorship candidate, Sen. Monday Okpebholo.
According to Igbinedion “The Governor we have today, only joined the party along with his SSG and a host of others, simply because they had issues in their own party and needed a platform, which the PDP gave them.”
She said some of the people criticizing the picture that surfaced after Okpebholo’s visit “only attend campaigns when and if they are given transport fares, or else they choose not to leave their houses and use money sent to them for data to write rubbish online, same people who demand to be paid to remain in a political Party.
“Go and look at the results from the last federal elections where PDP in Oredo lost to Labour by 37,994 votes, PDP in Egor and Ikpoba Okha lost to Labour by 19,777, PDP in Orhionmwon and Uhumwonde lost by 2,986, whilst PDP in Ovia North East and South West lost by 1,455 votes. We lost all the seats in Edo South at the National. Oredo produced the poorest results for PDP, with only 11,899 votes, compared to the 18,396 votes pulled for PDP in Ovia.
“It is on record that I have never lost Ovia North East, since 2015 till date to any political party. The records are there to show.
“If Anyone has issues with me speaking against the injustice done to the original PDP members who had sustained the party till now and made it formidable enough for the governor to seek reelection in 2019, then I am sorry but I owe you no apology.
“I stepped aside my ambition for governorship on the grounds of equity, fairness and justice for the Esan people and now the question we must answer is; when choosing a deputy governor was it equitable, fair and just to not consider age, gender, the old PDP and the Ovia Constituency, that has never had governor or deputy governor before, but always given block votes to PDP ?
“Do not be deceived, most old PDP Members are silently protesting and ready to either work for Labour or decamp to APC. My appeal as a bonafide PDP Member is that we should settle the House before it’s too late.”
[Vanguard]
The federal government says Ahmad Gumi, the Kaduna-based Islamic cleric, has been invited for questioning over his comments on the activities of bandits in the country.
Mohammed Idris, minister of information and orientation, spoke on Monday while addressing journalists at the State House, Abuja.
In recent years, Gumi has gained prominence for his comments on the activities of bandits.
He has been pictured with some bandits on many occasions.
The cleric reportedly offered to dialogue with bandits who abducted students from the Government Secondary and LEA Primary schools, in the Kuriga community under Chikun LGA in Kaduna.
The bandits attacked the community on March 7 and took away 137 schoolchildren and a teacher.
On Sunday, Uba Sani, the governor of Kaduna, announced the release of the schoolchildren.
Gumi also accused the federal government of framing up its enemies by tagging them as terrorism financiers in his reaction to the identities of 15 entities released by the Nigerian Financial Intelligence Unit (NFIU) for alleged terrorism.
Some groups have also called on security agencies to arrest Gumi over what they described as the cleric’s alleged ties with terrorist groups.
Speaking on the development, the information minister said the security agencies will do their work if they feel that the statements made by Gumi are “reckless”.
“The government will stop at nothing to get any kind of information that is required to solve our problems. The security agencies are up and doing,” Idris said.
“Sheik Gumi and any other individual are not above the law, if he has suggestions that are good enough and that are constructive enough for the security agencies to take, they will take
“But if they think that he is also making some statements that appear to be reckless, he will also be reprimanded.
“There is nobody above the law. Let me put it here. And I’m aware that he has also been a guest of security agencies to answer questions.
“When you make remarks, especially those that border on our national security it is incumbent on our national security to think further, and they are doing just that, no one is above the law.”
[TheCable]
[STATE HOUSE PRESS RELEASE] President Tinubu Approves Renewed Hope Infrastructure Development Fund
AdminPresident Bola Tinubu has approved the Renewed Hope Infrastructure Development Fund to facilitate effective infrastructure development across the pivotal areas of agriculture, transportation, ports, aviation, energy, healthcare, and education in Nigeria.
The Fund will invest in critical national projects that will, among other things, promote growth; enhance local value-addition, create employment opportunities, and stimulate technological innovation and exports.
The objectives of the Fund are to:
(1) Establish an innovative infrastructure investment vehicle to attract and consolidate capital, serving as a dynamic driver for economic advancement.
(2) Execute strategic and meticulously chosen national infrastructure projects across several key sectors, including road, rail, agriculture (irrigation, storage, logistics & cold chain), ports, and aviation, among others.
(3) Efficiently utilize and aggregate accessible low-interest loans such as concessionary loans and Eurobonds, supplemented by the procurement of other favourable financing options, in addition to budgetary allocations.
(4) Guarantee Nigeria secures the most advantageous arrangements for financing, construction, and subsequently, operation and maintenance of the identified projects, ensuring optimal long-term outcomes for the nation.
The Fund will identify appropriate approaches in its investment strategy, such as direct project financing through budgetary allocations and SPVs; co-financing (public-private partnerships) with key institutions, multilateral development institutions, as well as equity investments.
On agricultural infrastructure and food security, the emphasis is on the development of robust agricultural infrastructure networks. This encompasses the establishment of national food storage facilities, integrated irrigation systems, ranching for animal husbandry, and the enhancement of agricultural logistics and distribution.
On ports revitalization, the strategic thrust revolves around the rejuvenation of port facilities and associated infrastructure to streamline operations and enhance the ease of doing business. By modernizing port facilities and implementing advanced monitoring systems, the goal is to optimize efficiency, attract investments, and bolster Nigeria’s position as a regional trade hub.
On aviation enhancement, the focus is on the revitalization and modernization of major airports nationwide. Through targeted investments and infrastructure upgrades, major airports will undergo comprehensive refurbishment, including improvement in terminal facilities, runway expansions, and the implementation of cutting-edge technologies to enhance safety and operational efficiency.
On road infrastructure, some of the strategic projects to receive attention include the Lagos-Calabar Coastal Road, the Sokoto-Badagry Road, among other key road projects across the nation. This is to enhance connectivity, facilitate transport efficiency, and stimulate economic growth across regions.
On rail infrastructure, Lagos-Kano and Eastern rail lines are among the projects to be prioritized by the Fund. The aim is to ensure the modernization of transportation networks, fostering interconnectivity between key urban centres, and facilitating the movement of goods and people with greater speed and reliability.
President Tinubu has also approved that the Presidential Infrastructure Development Fund (PIDF) be absorbed into the new Renewed Hope Infrastructure Development Fund (RHIDF), which will successfully eliminate identified bureaucratic inefficiencies, enhance domestic and external counterpart funding opportunities, and expedite project delivery timelines for the benefit of the Nigerian people.
As the major infrastructural enabler of his global push for foreign direct investment across sectors, the President has further directed that the projects funded under the Renewed Hope Infrastructure Development Fund (RHIDF) reflect an equitable national spread, such that every Nigerian is impacted by the initiatives of his administration in the most qualitative fashion possible.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
March 25, 2024
The office of the National Security Advisers, ONSA, has confirmed the escape of the Binance regional manager for Africa, Nadeem Anjarwalla.
DAILY POST reports that Anjarwalla, Binance’s Africa regional manager, escaped from custody on March 22, 2024, from an Abuja guest house, where he and his colleague, Tigran Gambaryan, were detained for alleged tax evasion.
A statement issued by ONSA head of strategic communication, Zakari Mijinyawa, said Anjarwalla fled Nigeria using a smuggled passport”.
Mijinyawa said the personnel responsible for the custody of the suspect has been arrested and investigation has begun.
“Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport”.
“The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement reads.
Meanwhile, Binance in reaction to the development said the safety of its Manager remains top priority.
The firm stressed that it is working with the Nigerian authorities to resolve the issue.
The Senate Committee on Nigerian Army has applauded the military and other security agencies over the successful rescue of the abducted pupils of LEA School, Kuriga in Chikun Local Government Area of Kaduna State.
Chairman of the committee, Senator Abdulaziz Yar’adua, said in a statement on Monday, that the rescue mission was swift and appropriately responsive in line with military rule of engagement, noting that it was a rare operation that stands the military and other security agents in the operation as best among equals.
Yar’adua, who represents Katsina Central in the 10th Senate, said the military, having worked with other security agents and local vigilantes, have nonetheless shown their unwavering commitment to ensuring the safety and security of the country.
“It is with profound gratitude and admiration that we commend the Nigerian Army and other Security Agencies for their swift and successful rescue operation that led to the safe return of kidnapped students of LEA School Kuriga in Chikun LGA of Kaduna State.
“The heroic efforts of our gallant troops, working in conjunction with local authorities and government agencies, have once again demonstrated their unwavering commitment to ensuring the safety and security of our nation.
“It is heartening to note that these rescued individuals have since been conveyed and handed over to the Kaduna State Government for further care and necessary action, bringing hope and relief to their families and loved ones,” he said.
The lawmaker added that the abducted Almajiri in Gada Local Government Council of Sokoto State in the Northwest Nigeria have also been rescued, stressing that the lofty achievement of the military showed their unalloyed commitment to protecting the sanctity of the nation
“Furthermore, we must also acknowledge the recent rescue operation in Gada LGA of Sokoto State, where 16 pupils (Almajiris) and a woman were freed from captivity and handed over to the Sokoto State Government.
“These combined efforts underscore the unwavering resolve of our armed forces to locate and rescue all hostages, as well as bring the perpetrators of these heinous crimes to justice.
“While we celebrate these victories, it is crucial to recognize the challenges faced by our military personnel, who are often overstretched in their duty to safeguard our nation. As a gesture of our utmost appreciation and support, we pledge to enhance legislative measures aimed at improving the welfare and well-being of our brave soldiers, as well as streamlining their operations for greater efficiency.
“The relentless dedication and sacrifices of our armed forces in the face of adversity are a testament to their unwavering commitment to our collective security and national well-being,” he said.
Presidential Election: 44-Year-Old Opposition Candidate, Bassirou Diomaye Faye, Opens Up Early Lead In Senegal
AFOLABI44-year-old opposition candidate, Bassirou Diomaye Faye has reportedly taken the lead in the ongoing Senegal Prsidential election.
Provisional results from individual polling stations published by local media and on social networks is showing that Faye has opened a commanding lead over the governing coalition’s candidate and former prime minister, Amadou Ba.
Some other candidates in the election have also started congratulating Faye ahead of official declarations, while the candidate’s supporters have gathered at his campaign headquarters in the capital Dakar late Sunday, singing and dancing to the sound of klaxons and drums.
Young people on motorbikes paraded the streets chanting “to the (presidential) palace”.
At least seven of the presidential contenders congratulated Faye in light of initial indications from the ongoing vote count.
“Congratulations to Bassirou Diomaye Faye on his unquestionable victory,” the only woman candidate, Anta Babacar Ngom, posted on X, formerly Twitter.
Dethie Fall congratulated Faye “on his fine victory, clearly achieved in view of the very strong trends that are emerging”.
The ruling party is however not sharing the optimism of the opposition candidate and his supporters, saying in the worst case scenario, there would be a second round of voting.
Ba’s campaign management said that according to its experts, it was “certain to be, in the worst case scenario, in a second-round”.
It also accused Faye’s camp of attempted “manipulation”.
“It is not inevitable that Senegal will slide into a populist adventure,” the statement added.
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The enthronement process of the new Olubadan of Ibadan land will commence on Tuesday, March 26.
This was confirmed by the Olubadan Advisory Council.
The revered throne became vacant on March 14, 2024, following the passing of Oba Lekan Balogun, who died aged 81 after ruling the ancient city for two years.
The meeting of the Olubadan Advisory Council, in accordance with tradition, is billed to hold at the residence of the most Senior High Chief, Chief Rashidi Ladoja, former Oyo State governor, at his Bodija residence.
According to a source, the Olubadan Advisory Council will at the meeting nominate the successor to the late monarch, High Chief Oba Owolabi Olakulehin.
The traditional practice of nomination of a new Olubadan by the Advisory Council, according to the source, is usually done after the eighth-day Islamic prayers for the late monarch, which was held on Friday, March 22, 2024.
The source disclosed that soon after the nomination, a document of affirmation of Olakulehin’s nomination would be sent to Governor Seyi Makinde, through the Office of the Commissioner for Local Government and Chieftaincy Matters.
Two lines have historically, on a rotational basis, been producing the occupants of the Olubadan stool. They are the Otun Line (Civil Line) and the Balogun Line (Military Line).
The immediate-past Olubadan, Oba Lekan Balogun, who joined his ancestors on Thursday, March 14, 2024, after two years on the throne, was produced by the Otun Line.
Popular singer, May D has reacted to claims of owing N11k.
He was called out over the weekend by a waitress for allegedly owing N11,000 balance for the food he bought.
A waitress @dblaqgoddess232 alleged the singer and friends came to the hotel where she works on January 12, 2024 for food and drinks which amounted to N56,000.
She claimed May D and friends left for a club that same day and didn’t arrive until the next day.
When it was time to reconcile account by 10 am the next day, she decided to contact the singer through a phone number offered by a friend still in the hotel.
The lady alleged that he had given her an offensive reply instead.
After much back and forth, he finally paid N45,000 with an outstanding balance of N11,000 since January.
She wrote: “My encounter with a celebrity as a waitress….Disclaimer: this isn’t clout chasing, I just want my money!!!
“So about two months ago Mr MayD and friends came to the hotel where I work to lodge, and I served them food and drinks, it was on Friday, 12 of Jan,2024….
“So after he had foods and drinks on Friday, they all went to the club and didn’t come back that same night, was so scared coz I would have been the one to pay if he ended up not paying, but one of his friends was still in the hotel so I was a bit assured I’ll get the money..
“Fast forward to the next day which was on Saturday 13th,of Jan 2024.
Our hotel rule is to do our sales account before 10am in the morning, so I got his contact from his friend who was in the hotel to reach out to him so I can get the money and his response was totally offensive.
“Still I kept my cool coz I wouldn’t want to get blocked and end up paying for money I didn’t owe, which I still did coz he only sent part of his payment and I had to cover up the balance of 11k with my salary at the end of the month…”
After being dragged online by the waitress and some other netizens on X, May D took to the platform to break his silence on the allegations.
He acknowledged owing the money and noted that he should be left alone because he is broke.
He asked the lady to send her account number to him and wait for the end of the month for the balance.
Mr May D wrote: “You people should leave me alone I’m broke , she should send her acvount , I’ll pay her at the end of the month when I collect salary from my Oga .. 11k Abi”
Governor Babagana Zulum of Borno State has approved the appointment of 168 assistants and 104 board members for the 15 agencies and commissions of the state.
This is according to a statement issued by the Secretary to the state government, Bukar Tijjani, on Monday, in Maiduguri.
He said the appointees comprised nine senior technical assistants (STA), 81 senior special assistants (SSAs), and 78 special assistants (SAs).
The SSG also listed the 104 others as chairmen and board members of 15 agencies and commissions.
The appointment, Mr Tijjani said, was done based on powers conferred on the governor by the provisions of Section 208(2)d of the Constitution of the Federal Republic of Nigeria, 1999, as amended.
“The governor congratulates the appointees and looks forward to their contributions to the development of Borno,” he said.
(NAN)
Nadeem Anjarwalla, one of the executives from Binance detained in Nigeria on allegations of tax evasion and other offenses, has reportedly escape from custody.
Anjarwalla, aged 38, allegedly fled from the Abuja guest house where he and his colleague were being held, purportedly taking advantage of a moment during Ramadan prayers when guards escorted him.
Despite his British passport remaining under the control of Nigerian authorities, he is believed to have exited the country using a Kenyan passport, Premium Times reported.
Authorities are currently working diligently to determine his intended destination and take steps to apprehend him.
The detention of Anjarwalla and his colleague, Tigran Gambaryan, unfolded after their arrival in Nigeria on February 26, 2024.
They were promptly subjected to criminal charges, including alleged tax-related offenses, leading to their remand by a local court.
In a separate legal maneuver, the Nigerian government brought forth additional charges against Binance Holdings Limited and the two executives, accusing them of conducting operations without the requisite registration and tax compliance.
This development comes against the backdrop of Nigeria’s intensified efforts to combat financial crimes, including money laundering and terrorism financing.
Binance, a prominent cryptocurrency exchange platform, has found itself at the center of this crackdown.
The Nigerian government alleges that over $21.6 billion in transactions on Binance involved individuals whose identities were shielded, pointing to potential illicit activities such as money laundering, terrorist financing, and market manipulation.
These activities, according to Nigerian authorities, have had adverse effects on the nation’s economy, contributing to currency fluctuations and undermining the value of the Naira.
The detention of Binance executives in Nigeria follows closely on the heels of the platform’s settlement of criminal money laundering charges in the United States.
Binance’s founder and CEO, Changpeng Zhao, also known as CZ, entered a guilty plea and agreed to resign from his position.
Zhao’s criminal trial, which is linked to the charges brought by the US Department of Justice, has been postponed to April 30.