Justice, Integrity, and Vigilance

  ‎ ‎ ‎Story by Okeke Nnamdi ‎ ‎According to court documents sighted by our news outlet, Hon. Chuma Nzeribe, the LP candidate and one time member of the House of Representatives, is a convicted felon. ‎ ‎In 2020, Nzeribe was arraigned at an FCT High Court Holden in Maitama, Abuja before Justice Y. Halilu on a for count charge bothering on fraud, cheating by impersonation, forgery of government document and misrepresentation. The case stemmed from the suit filed against him by the Economic and Financial Crimes Commission (EFCC) in case number FCT/CR/791/2020 titled Hon Chuma Nzeribe v Federal Republic of Nigeria. ‎ ‎Upon his conviction he was sentenced to 10 years in Prison for Count 1, 10 years for Count 2 and five years in prison for count 3. The prison terms are to run concurrently. He was also fined N10m on each of the 4 Count charges. ‎ ‎Upon his conviction and sentencing he was confined to Kuje Correctional Centre to live his prison terms. ‎ ‎The question begging f...

  ‎ ‎ ‎The Central Bank of Nigeria (CBN) has sounded the alarm on a disturbing rise  of digital financial fraud cases in the country. According to the CBN Governor, Olayemi Cardoso, financial fraud has surged by a staggering 45% within a single year, with a significant 70% of the resulting losses attributed to digital channels, particularly unregulated virtual asset platforms. This revelation was made at a public lecture organized by the Economic and Financial Crimes Commission (EFCC) in Abuja. ‎ ‎The CBN's Financial Stability Report 2024 highlights the gravity of the situation, revealing a sharp increase in financial fraud cases. The report also notes that over 30 Ponzi-style investment schemes exploiting digital currency narratives have been flagged by the Securities and Exchange Commission (SEC) and other agencies. These developments pose significant risks to the country's financial system, including loss of consumer confidence, weakening of financial integrity, and rep...

  The Association of Securities Dealing Houses of Nigeria (ASHON) has expressed concerns over the Central Bank of Nigeria's (CBN) recent directive suspending dividend payments by banks. The directive, which is part of the CBN's stricter stance on regulatory forbearance, has sparked worries about its timing and potential impact on the banking sector. ASHON believes that the timing of the directive is inappropriate, given the efforts by banks to meet the CBN's capital requirements. The policy might hinder ongoing capital-raising efforts, especially for banks working to meet regulatory targets, by weakening investor interest. The directive has already had an immediate impact, with banking stocks declining sharply at the start of trading. The banking sector opened the week on a shaky note, with bearish sentiment hitting hard. Although the sector recovered some ground later in the day, most banking stocks still closed in the red. In a bid to calm market nerves, ASHON offered rea...

    Email: totalpolitics@ymail.com  The Central Bank of Nigeria (CBN) has issued a directive instructing banks operating under regulatory forbearance to suspend dividend payments, defer bonuses for executives, and halt investments in foreign subsidiaries or offshore ventures. This move is part of the CBN's broader strategy to reinforce capital buffers, improve balance sheet resilience, and ensure prudent capital retention within the banking sector. Key Highlights of the Directive - *Suspension of Dividend Payments*: Affected banks are required to suspend all dividend payments to shareholders until their capital adequacy and provisioning levels are independently verified to meet prevailing regulatory standards. - *Deferment of Bonuses*: Bonuses to directors and senior management staff are to be deferred, ensuring that internal resources are retained to meet existing and future obligations. - *Halt on Foreign Investments*: Banks are prohibited from making new investments in...

  Email : totalpolitics@ymail.com  The Central Bank of Nigeria's (CBN) decision to impose a 50% Cash Reserve Ratio (CRR) on banks has sparked concerns about a severe liquidity crunch in the banking sector. This move, analysts argue, contradicts the country's ambition of achieving a $1 trillion economy by 2030. With banks now required to keep a significant portion of their deposits with the CBN, their ability to lend and support economic growth is severely restricted. The consequences of this cash crunch could be far-reaching. Credit growth may slow down, and market sentiment towards Nigerian banks could turn bearish. The CBN's policy mix creates conflicting incentives, where recapitalization aims to expand lending capacity, but the CRR hike stifles liquidity. This could lead to reduced economic activity, increased unemployment, and decreased investor confidence. To mitigate the crunch, the CBN should consider revising its stance and reducing the CRR to boost liquidity and o...

    Email . Totalpolitics@ymail.com  The African Banker Awards 2025 has recognized Nigeria's Central Bank Governor, Olayemi Cardoso, as the Central Bank Governor of the Year. This prestigious award acknowledges Cardoso's outstanding leadership and policy reforms that have significantly impacted Nigeria's financial sector. Cardoso's appointment as CBN Governor has been marked by several tough and notable policy reforms. One of his key initiatives has been to stabilize the foreign exchange market and improve investor confidence.  Under his leadership, the CBN has implemented measures to enhance liquidity management, including the introduction of new instruments to support Islamic finance and improve the overall efficiency of the financial system. The CBN's efforts under Cardoso's leadership have yielded positive results, including renewed investor confidence and a more stable foreign exchange market. These achievements demonstrate Cardoso's ability to navigate...

The Central Bank of Nigeria (CBN) has decided to retain the Monetary Policy Rate (MPR) at 27.5%, a move that reflects the bank's cautious approach to monetary management. This decision was made during the 300th Monetary Policy Committee (MPC) meeting, where all 12 members voted unanimously to maintain the current policy rates. Key Highlights - *Monetary Policy Rate (MPR)*: Retained at 27.5% to maintain price stability and support economic recovery. - *Asymmetric Corridor*: Maintained at +500/-100 basis points around the MPR to ensure liquidity management. - *Cash Reserve Ratio (CRR)*: Held at 50% for Deposit Money Banks and 16% for Merchant Banks to control liquidity. - *Liquidity Ratio*: Left unchanged at 30% to ensure banks' liquidity and stability. Expert Analysis Industry experts had predicted the CBN's decision to retain the MPR at 27.5%. According to Olaitan S. Sunday, Managing Director of Rostrum Investment & Securities Ltd, "Holding the MPR at 27.5% will co...

  In a momentous occasion that signifies a new chapter in federal-state cooperation, President Bola Ahmed Tinubu, GCFR, unlike his predecessor, is set to visit Anambra State on Thursday, May 8, 2025. Anambra represents a lot to the South Easterners. Hence, this visit is unlike any other. I am elated to join Mr. Governor and the good people of Anambra State in welcoming the President to the State. Mr. President, you and your powerful entourage are most welcome to Anambra.  This landmark event not only underscores the your commitment to the Southeast region's progress but also highlights the spirit of collaboration between the federal government and Governor Charles Chukwuma Soludo's administration President Tinubu's leadership style is a beacon of hope for a brighter future. His willingness to transcend partisan lines and build an inclusive government is a testament to his dedication to national unity. The appointments of Lady Bianca Ojukwu as Minister of State for Foreign A...

  Hakama Sidi is not a new name in public communication . She is good at her job and that has attracted her several honors and recognition . Under her watch she has ensured CBN's policies are well communicated and timely, too. testament to her outstanding work in public communication, Hakama Sidi-Ali, spokesperson for the Central Bank of Nigeria (CBN), has been recognized as the Outstanding Spokesperson (Banking Sector) for the second consecutive year at the 2025 National Spokespersons Awards. The prestigious ceremony, held at the Abuja Intercontinental Hotel, celebrated innovation and professionalism in public communication across Nigeria's public and private sectors. The reward of good work is more work . Sidi-Ali's award is a reflection of her proactive communication strategies and dedication to bridging the gap between the CBN and the Nigerian public. Her effective handling of misinformation regarding potential new banknotes and adept communication during Nigeria-US ta...

Email: totalpolitics@ymail.com Tel: 08034747898  ‘’Monetary policy is like juggling six balls. It is not an interest rate up. There is an interest rate down. There is the exchange rate, there are long-term yields, there are short-term yields, and there is credit growth’’. -Raghuram Rajan When Olayemi Cardoso was first appointed the Central Bank Governor, many greeted his appointment with scepticism. The questions weren’t about his credentials and career path as a former banker and public officer. After all the immediate past governor that he succeeded was a Havard alumnus. The questions were if he could do the job and restore confidence in the monetary policy. Given his calm look; does he have the nerve to implement tough policies, checkmate the abuse of bankers' forum, restore discipline in the ways and means, stabilize the Naira, and halt the runaway – inflation that was biting hard on the citizens and still biting? His appointment came at a time when the Central Bank of Nigeria ...