Month: June 2025

A new report by Renaissance Capital has raised red flags over the Central Bank of Nigeria’s (CBN) decision to impose a 50% Cash Reserve Ratio (CRR) on banks, warning that the policy is choking bank liquidity, stifling lending, and potentially undermining Nigeria’s $1 trillion GDP ambition by 2030. 🔍 Key Findings: Liquidity drain: With 50% CRR and 30% liquidity ratio, banks have just 20% of customer deposits left for lending

The Lagos State Environmental and Special Offences Enforcement Unit has arrested 49 suspects in a coordinated early morning raid targeting criminal hideouts across Victoria Island, including Maroko Sandfill, Bonny Camp, and surrounding areas. The operation, which commenced around 1:00 a.m. on Wednesday, was led by the agency’s Chairman, Chief Superintendent of Police (CSP) Adetayo Akerele, and aimed to rid the city of criminal elements disturbing public peace. Of the 49

A High Court of the Federal Capital Territory (FCT) has granted bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the sum of ₦2 billion, following his arraignment on fresh property fraud charges involving 753 housing units in Abuja. The Economic and Financial Crimes Commission (EFCC) filed an eight-count charge against Emefiele, alleging the fraudulent acquisition of a sprawling estate at Plot 109, Cadastral Zone C09, Lokogoma

A Nigerian businessman, Mr. Emeka Joachim, has accused the financial services platform Pryme of withholding ₦7 million of his funds, despite repeated efforts to recover the money. The incident came to public attention through posts on social media platform X (formerly Twitter), shared by a user identified as @Alaba589, who alleged that @MyPrymeApp failed to honor financial commitments made to Mr. Emeka, a trader based at Tradefair, Lagos. According to