Monday, January 18

Tag: currencies

Magu: Crack Teams from DSS and Police go after Unknown Persons who Burgled NFIU office
News

Magu: Crack Teams from DSS and Police go after Unknown Persons who Burgled NFIU office

Crack teams from the Department of State Service (DSS) and the Force Criminal Investigation Department (FCID) of the Nigeria Police have begun a manhunt for those behind the recent burgling of the office of the Nigerian Financial Intelligence Unit (NFIU) located at No. 12, Ibrahim Taiwo Street, Aso Villa.   The leadership of the NFIU had appeared before the Justice Ayo Salami-led presidential panel investigating the suspended chairman of the Economic and Financial Crimes Commission EFCC, Ibrahim Magu on July 9 and they asked to provide the transaction history of a Kaduna-based bureau de change (BDC) that was allegedly linked to Magu. The BDC recently transacted businesses worth over N500 billion in different currencies — N336 billion, $435 million, and €14 million.  ...
Most Valuable Currencies In Africa (see Nigeria’s Position)
Business

Most Valuable Currencies In Africa (see Nigeria’s Position)

A country’s currency tells a lot about its economy and living standards of the people. There is a common misconception that the biggest and most popular nations often have the best currencies; this is false – especially when Africa is concerned. How do you think the big countries rank concerning their currency in Africa today? Most people believe that countries like South Africa and Nigeria have the most valuable currencies in the African continent. But in reality, it is not true. Many other currencies are more valuable, especially from countries, you would least expect. The South African Rand comes 8th on the list, while the Nigeria which is popularly known as the so called " gaint of Africa " didn't even make it to the top 10. Many critics have argued that the dependence of ...
Wizkid And Tekno Gambling Together With Different Currencies
Celebs

Wizkid And Tekno Gambling Together With Different Currencies

Nigerian music stars, Wizkid and Tekno gambles as they both engage in a dice rolling game. Gistmore reports The two singers were seriously enjoying their gambling session with different currencies on the table, Wizkid's manager Sunday Are was also there watching their games. Wizkid eat Tekno's money until he is left with no cash and then asked him to pull off his wristwatch, eventually he did just that. It was quite an entertaining moment having our major superstars, Wizkid and Tekno gambling together.
Nigeria Should Start Printing Other Nation’s Currencies And Passports – Uba Sani
Politics

Nigeria Should Start Printing Other Nation’s Currencies And Passports – Uba Sani

Chairman Senate Committee on Banking , Insurance and Other Financial Institutions, Senator Uba Sani has expressed the willingness of the 9th Senate to support the Nigerian Security Printing and Minting company to produce Nigerian passports locally. The Kaduna Senator representing Kaduna Central Senatorial District also assured the Senate's resolve to ensure that monies being owed to the Asset Management Company of Nigeria (AMCON) by some Nigerians were recovered. Uba stated this in a brief interview in Abuja, shortly after the Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru and Abbas Umar Masanawa the Managing Director of the Nigerian Security Printing and Minting company (NSPMC) appeared before the Senate Committee on Banking, Insurance and other Fi...
DSS is not empowered by law to arrest – Afe Babalola
News

DSS is not empowered by law to arrest – Afe Babalola

Afe Babalola, a renowned legal practitioner made a shocking claim of 'DSS not being empowered by the law to arrest' while appearing as a guest on Channels Television’s News Night.   The Senior Advocate of Nigeria (SAN) alleged that the DSS' constitutional job description is to gather information that might threaten the sovereignty of the nation, which they relay to the President.   He made the disclosure while querying President Buhari over the raid of judges’ homes carried out by DSS operatives in 2016. Recall that while the Secret Police blamed the raid on receiving intelligence that some judges stashed large sums of currencies in their homes, it led to an outcry from various corners.   Afe Babalola who maintained that the law outlined ways to deal with e...
5 Nigerians Arrested in UAE for Robbery
News

5 Nigerians Arrested in UAE for Robbery

Five Nigerians arrested in UAE for robbery, after they allegedly stormed a money exchange in Sharjah and fled with Dh2.3 million on Sunday. According to the police, the men barged into the exchange and smashed the glass barrier between the customers and the staff, stole the money in multiple currencies and fled. Two employees at the exchange were injured as they resisted the robbers. One of them managed to notify the police. The Sharjah Police coordinated with forces from Abu Dhabi, Ras Al Khaimah and Ajman to nab the suspects from four emirates within 48 hours after the robbery was committe The incident was reported at Al Ansari Exchange in Al Tawoon area. A top police official said the suspects came to the country on visit visas on March 18. For two days, they studied ...
Ritualists Den Uncovered in Ekiti
News

Ritualists Den Uncovered in Ekiti

The Ekiti State police command has uncovered a ritualists’ den in Odo, a suburb in Ado Ekiti, the state capital and arrested two suspected ritualists. The Commissioner of Police, Asuquo Amba, who led a team of officers and journalists to the forest where the shrine was located, said the hideout could be a den of kidnappers, fraudsters and other undesirable elements. Odo, where the shrine was discovered is a satellite town of about 10 kilometres to Ado Ekiti and it is home to a private polytechnic. Asuquo said: “We trekked a few kilometres into the forest before arriving at the well laid out shrine. We discovered a hidden underground in one of the houses at the shrine and there were fetish objects all over the place. These fake foreign currencies suggest that the operators of this...
Samad Returns To The Forbes Billionaires’ List Three Years After
Lifestyle

Samad Returns To The Forbes Billionaires’ List Three Years After

In a year that saw many billionaires lose chunks of their money due to plunging stock prices and weaker currencies, with the number of African billionaires shrinking to 20 from 23 last year, cement mogul and chairman of BUA Group, Abdulsamad Rabiu, returns to the Forbes Africa’s Richest List. He was knocked off the list in 2015 but his return was facilitated largely, according to the influential American magazine, by the merger of his Kalambaina Cement firm with publicly traded Cement Company of Northern Nigeria, which he controlled. “Rabiu now owns 97% of Kalambaina, which operates a new cement production facility, and started selling cement in mid-2018. Separately, Rabiu’s OBU Cement recently expanded its operations, adding a new production line,” the magazine stated. Indeed, ...
Bitcoin Falls Below $5,000 For First Time Since Oct 2017
Uncategorized

Bitcoin Falls Below $5,000 For First Time Since Oct 2017

The value of bitcoin slipped Monday below $5,000 (4,367 euros) for the first time since October 2017 as volatility returned to the cryptocurrency market. Bitcoin Data compiled by Bloomberg showed the world’s most popular virtual currency losing about 10 percent of its value from Friday evening to stand at $4,958.36 at 1635 GMT. It rebounded slightly to trade at $5,065 at 1710 GMT. The rout on the crypto market began on Wednesday and also affected widely traded currencies such as Ethereum and Ripple. Bitcoin opened trading on Wednesday at $6,326 and has since seen its market capitalisation fall to less than $100 million for the first time in over a year. The still-nascent market is not completely transparent and analysts have struggled to understand what prompted the latest sel...
Naira Depreciates Against Major Currencies… See Latest Exchange Rate
News

Naira Depreciates Against Major Currencies… See Latest Exchange Rate

The Nigerian naira has continued to record a slope against major currencies at the exchange rate market on Thursday. The naira on Friday sustained its depreciation against the dollar at the investor’s window, the News Agency of Nigeria reports. The Nigerian currency shed 11 kobo to exchange at N360.42, weaker than N360.31 traded on Thursday. At the parallel market, the Naira exchanged at N362 to a dollar, while the Pound Sterling and the Euro closed at N515 and N445. Trading at the Bureau De Change, BDC segment saw the Naira closed at N362 to a dollar, while the Pound Sterling and the Euro closed at N515 and N445. The Naira exchanged at N305.6 to the dollar at the CBN window, while the Pound Sterling and the Euro posted N435.14 and N378.30 on Thursday. Traders said in spi...
Security Guard On N25,000 Salary Steals N24.4m, Threatens Boss With Whistle-blow
News

Security Guard On N25,000 Salary Steals N24.4m, Threatens Boss With Whistle-blow

On May 6, businessman and resident of Gwarimpa Housing Estate, FCT, Abuja, Benedict Emmanuel, noticed that a stack of foreign currency he kept in his house had disappeared. But little did he know that his good-natured security guard, 40-year-old Alfred Andrew, a Bauchi State indigene, had suddenly become a millionaire, while keeping his home safe. At 40, Andrew, who studied Mass Communication and Information Technology, went from joblessness to enrolling in an evangelical school, through which he became a pastor. Yet, he said he needed more out of life. Andrew said he moved to Plateau State to look for a job until the poor condition of the job forced him to move to Abuja where he took up a security guard job on a N25,000 salary in 2014. But three years down the line, Andrew ...