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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

BIG STORY

US Bombs Three Nuclear Sites In Iran

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President Donald Trump has announced that the United States carried out airstrikes on three nuclear facilities in Iran.

In a post on social media early Sunday, Trump stated that the US military targeted nuclear sites located in Fordow, Natanz, and Isfahan.

This move marks the US’s direct involvement in Israel’s ongoing military efforts over the past week to dismantle Iran’s nuclear enrichment infrastructure.

“We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan,” Trump tweeted.

“All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home.

There is not another military in the world that could have done this. Now is the time for peace.”

In another update, Trump said he would address the American public regarding the airstrikes, describing the operation as a “historic moment”.

He emphasized that “Iran must now agree to end this war” and warned that the country “will get hit” again if it does not choose peace.

According to Tasnim News Agency, Iranian officials have confirmed the strikes on their nuclear installations.

Morteza Haydari, spokesperson for crisis management in Iran’s Qom province, said the Fordow nuclear site was partially hit by “enemy airstrikes”.

Akbar Salehi, deputy governor of Isfahan for security affairs, also confirmed that “we saw attacks near the nuclear sites of Isfahan and Natanz”.

Iran had earlier vowed to respond if the US aligned itself with Israel in the ongoing conflict.

Ayatollah Ali Khamenei, Iran’s supreme leader, previously warned the US that any offensive action would “result in irreparable damage for them”.

Iranian foreign ministry spokesperson Esmail Baghaei had also threatened an “all-out war in the region” should America get involved in the fighting.

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BIG STORY

President Tinubu Demands Decisive Action From Mutfwang Over Plateau Mob Attack

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President Bola Tinubu has called on Plateau governor Caleb Mutfwang to take decisive measures following the recent killing of travellers by a mob in Mangun district, Mangu LGA, Plateau state.

On Friday, a mob attacked a bus transporting wedding guests from Zaria, Kaduna, to Quan Pan LGA in Plateau, resulting in the death of 12 individuals.

Eleven additional guests sustained varying degrees of injuries in the incident.

In a statement issued on Sunday, Tinubu, through his special adviser on information and strategy, Bayo Onanuga, strongly condemned the act and urged the Plateau state government to address the situation thoroughly.

“The government of Plateau state must take decisive action in handling these vicious cycles of violence,” Tinubu stated.

“The state government must work with security agents to get to the root of this recent incident and use it as a deterrent against future occurrences.

“Freedom of movement by all citizens is non-negotiable. We will not tolerate any attempt by anyone or group of people to curtail that fundamental freedom through acts of extreme violence and fear.”

He also instructed the Nigerian police force to coordinate with other security and intelligence agencies to ensure those responsible for the attack are brought to justice.

“The president called for calm, promising not to allow the dastardly act to go unpunished,” the statement continued.

“The president commiserates with the victims’ families and the people and government of Kaduna state.”

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BIG STORY

22 Suspects Arrested Over Killing Of 12 Wedding Guests In Plateau

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The Plateau State police command has apprehended 22 individuals suspected to be involved in the murder of 12 wedding guests in the state.

On Friday, a group of wedding attendees travelling from Zaria, Kaduna, to Quan Pan LGA in Plateau were attacked when a mob set their bus on fire, resulting in the deaths of 12 people.

Several others sustained injuries during the incident.

Reports indicate the victims lost their way before being ambushed by a mob in Mangun.

President Bola Tinubu instructed Governor Caleb Mutfwang of Plateau to address the situation and uncover the full truth.

According to a statement issued by Plateau police spokesperson Alfred Alabo, 21 travellers were rescued and taken to a hospital for treatment.

“Upon receipt of this intelligence, the commissioner of police of Plateau immediately directed the divisional police officer of Mangu division to mobilize men and swiftly race to the scene,” the statement reads.

“On reaching the scene, our men in collaboration with other security agencies quickly dispersed the angry mob and rescued twenty-one (21) victims and rushed them to the hospital where they are currently receiving treatment.

“Upon conducting our preliminary investigation, it was revealed that the victims were travelers from Zaria, Kaduna State who were on transit to Quan’pan LGA to attend a wedding ceremony when they lost their way.

“Their vehicle was illegally arrested by the angry mob and set ablaze. As a result of this unfortunate incident, some of the passengers lost their lives, while 7 persons sustained varying degrees of injuries.

“In a display of courage, our men in collaboration with other security agencies were able to rescue fourteen (14) persons unhurt.

“Consequently, twenty two (22) suspects have been arrested in connection with the incident.”

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