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BREAKING: CBN Suspends Processing Fees On Cash Deposits

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The Central Bank of Nigeria (CBN) has suspended the charging of processing fees of 2 percent and 3 percent previously charged on all cash deposits  above N500,000 and N3,000,000 by individuals and corporates respectively, with immediate effect.

This was disclosed in a statement on Monday by the Acting Director, Banking Supervision, Dr Adetona Adedeji.

According to the statement, the suspension shall remain in effect until April 30, 2024.

Recall the processing charges imposed on cash deposits aboveN500,000 for individuals and N3,000,000 for corporates as contained in the ‘Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions’ issued on December 20, 2019, under reference FPR/DIR/GEN/CIR//07/042.

“Consequently all financial institutions regulated by the CBN should accept all cash deposits from the public without any charges going forward’

“Please be guided accordingly,” added the statement.

 

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BIG STORY

Politicians Pushing Jonathan To Contest In 2027 Betrayed Him In 2015 — Wike

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged former President Goodluck Jonathan against returning to the 2027 presidential race, saying he should continue to serve Nigeria as a respected statesman instead.

Speaking at a media briefing in Abuja, Wike noted persistent rumours that Jonathan might vie for the presidency again on the PDP platform, though the ex-president has not publicly addressed the speculation.

“I know Jonathan very well. He enjoys being respected internationally as a statesman and I believe he will continue in that role,” Wike remarked.

He sharply criticised those encouraging Jonathan’s return, arguing they are the very figures who undermined him during the 2015 election.

“People pushing Jonathan — what strength do they have? Were they not the same people who worked against him in 2015?” he queried.

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NRC MD Kayode Opeifa Apologises For Remarks Against Journalist During Train Derailment Coverage

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The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has publicly apologized following his verbal outburst against NTA Transport Correspondent and former NAWOJ president, Comrade Ladi Bala, during the coverage of the Abuja–Kaduna train derailment.

Opeifa made the apology at a press briefing held on Sunday at the NUJ FCT Council Secretariat in Abuja. He explained that the incident occurred under intense pressure, as he was managing the emergency response.

“I sincerely apologize for the regrettable remarks I made, which were directed at a seasoned journalist and reflected poorly on both the NUJ FCT and NAWOJ,” he stated.

In an attempt to promote reconciliation, Opeifa awarded Comrade Bala the honorary title of Ambassador for Media Advocacy—a symbolic gesture of the NRC’s renewed commitment to press freedom and better media relations.

Speaking further about the derailment, Opeifa confirmed that eight coaches and one locomotive were involved, carrying 618 passengers, of whom approximately 20 were injured, including seven critically. Emergency protocols were swiftly activated, engaging agencies such as NEMA, NAN, the military, NISA, and state health ministries, to ensure a coordinated response.

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BREAKING: Finnish Court Sentences Simon Ekpa To Six Years In Prison For Terrorism Crimes

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A court in Finland has handed a six-year jail term to Simon Ekpa, a pro-Biafra activist, after finding him guilty of terrorism offences.

The Päijät-Häme District Court concluded that Ekpa used his online platforms between August 2021 and November 2024 to stir violent actions in Nigeria’s south-east, including support for a terrorist organisation and incitement to commit terrorism.

According to prosecutors, he encouraged attacks by posting directives on X (formerly Twitter), while also helping to arrange weapons, explosives and ammunition for separatist elements in the region.

The offences were judged under Finnish jurisdiction because they were carried out while Ekpa was residing in Lahti.

In addition to the terrorism convictions, the court also found him guilty of aggravated tax fraud.

The ruling, however, is not final, as Ekpa is entitled to challenge the judgment before a higher court.

 

More to come…

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