CBN stops use of foreign currencies as collateral for naira loans

The Central Bank of Nigeria has written to all banks in Nigeria to stop the use of foreign currencies as collateral for naira loans. It disclosed this in a circular titled “The use of foreign-currency-denominated collaterals for naira loans” with ref number: BSD/DIR/PUB/LAB/017/004. The circular was signed by the apex bank’s acting Director, Banking Supervision…

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Media bodies, CSOs, demand investigation into Segun Olatunji’s Detention and Prosecution of Perpetrators

The undersigned media ORGANISATIONS, media associations and professional bodies as well as civil society organisations wish to express our deep concern and strong condemnation regarding the recent unlawful arrest, detention, brutalisation and torture of Mr. Segun Olatunji, Editor of FirstNews newspapers, by military personnel in response to stories published by the media outlet. We hereby…

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