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Showing posts from December, 2022

ICPC confirms arrest D’banj over alleged N-Power fraud

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  The ICPC says the investigation of D'banj will be all-encompassing and that his alleged collaborators are being probed as well. Reference : press release  The Independent Corrupt Practices and Other Related Offences Commission (ICPC) confirmed on Wednesday the arrest and detention of Oladipo Daniel Oyebanjo, otherwise known by his stage name,  D’Banj , over the investigation of fraud associated with the N-Power Programme. The confirmation by the ICPC is coming several hours after PREMIUM TIMES exclusively broke the news of the musician’s ordeals. The N-Power is a scheme established by President Muhammadu Buhari on 8th June, 2016, to address the issues of youth unemployment and empowerment, and help increase social development. In its statement Wednesday afternoon, the ICPC said: In line with its mandate, the Commission had received numerous petitions on the diversion of N-Power funds running into billions of naira following the approval and release of such funds to the ...

Buhari unveils Nigeria’s new naira notes

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President Muhammadu Buhari Wednesday unveiled the new notes of the three highest denominations of the Nigerian currency: N200, N500 and N1,000. The unveiling was done at the Council Chambers of the Presidential Villa, Abuja, shortly before the commencement of the Federal Executive Council meeting. Speaking at the event, the Governor of the  Central Bank of Nigeria , (CBN) Godwin Emefiele, said the introduction of new notes was a deliberate step by government to check corruption and counterfeiting of the notes.                   Governor of the Central Bank of Nigeria, (CBN) Godwin Emefiele and President Buhari during the unveiling of the New Naira Notes. Mr Emefiele had earlier said in October that N2.73 trillion of total N3.23 trillion currency in circulation remained outside the country’s banking system, making it difficult for monetary policies to be effective.      He also spoke about the security dimension of the deci...