The Central Bank of Nigeria (CBN) has issued a directive to deposit money banks within the country, urging them to swiftly elevate their capital base beyond the current threshold of ₦25 billion.Governor Olayemi Cardoso of the CBN made this announcement during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) held in Abuja. It was during this meeting that the MPC decided to raise the interest rate from 22.75% to 24.75%.Governor Cardoso underscored...

Kaduna state has been one of the states been drastically facing insecurity which ranges from banditry to kidnapping to terrorism. Yesterday, no fewer than 25 people were killed during an attack on communities in Kaduna state.Many properties were destroyed in the attack that occurred last night, March 20 in the Kagoro community, Kaura Local Govt Area in southern Kaduna.Confirming the attack, former Kaduna lawmaker, Shehu Sani disclosed that some terrorists, on Sunday...

It was a black Thursday today in Uromi, a town in Esan North East of Edo state as some Daredevil armed robbers attacked some commercial banks in the town.The incident took place on Thursday afternoon. According to the spokesman of the Edo State Police Command, Bello Kontongs, the attack led to substantial damages to the affected banks, noting that details about the incident will be communicated later.Eyewitness report that the robbers were very co-ordinated in the a...