#BBB NEWS| Fallen Naira: DPC Advises CBN Governor Emefiele To Resign

The Democratic Peoples Congress DPC, has called on the Governor of the Central Bank of Nigeria, Godwin Emefiele, to resign following the declining state of the Naira and the Economy.

The party's position is contained in a statement released by the party's Chairman, Reverend Olusegun Peters on Friday February 19th. Read details below:

#BBB NEWS| Jonathan Ran CBN Like Idi-Amin – Soludo

Former Governor of the Central Bank of Nigeria, Professor Charles Soludo, has said former President Goodluck Jonathan ran the bank like a movie from Uganda under Idi-Amin.

Idi-Amin Dada ruled Uganda with an iron fist between 1971 and 1979 and has been described as one of the most corrupt African rulers.

Soludo said, “Imagine a scenario where a president can order the CBN to create an intervention fund for national stability and CBN literally ‘prints’ say, N3 trillion, and doles it out cash to the Presidency to prosecute an election campaign or for just about anything he fancies. It is a scary thought.

“We are going down a dangerous path that ruins the economy. I don’t know any other country where such is tolerated, except perhaps what I watched in a movie about Idi Amin and his governor of central bank.”

#BBB NEWS| TSA: We’re Not Aware Of REMITA’s Charge — CBN, Accountant General

Senate investigation into the alleged N25 billion Treasury Single Account (TSA) has taken a different turn with the Central Bank of Nigeria (CBN) and the Office of the Accountant General of the Federation (OAGF) trading blames.

The CBN Governor Godwin Emefiele and the Accountant General of the Federal (AGF) Ahmed Idris both denied having any knowledge of the 1 per cent approved charge for remittances through REMITA.

Emefiele while responding to questions from committees on Finance; Banking, Insurance and other Financial Institutions and Committee on Public Accounts, said he personally was not aware of the charge.

The Joint Committee chaired by Sen. John Enoh (PDP Cross River Central) berated the CBN and the OAGF for having agreed to a one per cent charge of remittance.

#BBB NEWS| CBN Bans Cash Deposits Into Domiciliary Accounts

The Central Bank of Nigeria has banned the payment of cash into domiciliary accounts in the country, TheCable reports.

In a circular released on Wednesday and signed by the Director of Trade and Exchange, CBN, Olakanmi Gbadamosi, the central bank said its action followed recent statements by individual banks suspending the payment of foreign currencies into domiciliary accounts.

Gbadamosi wrote, “The Central Bank of Nigeria has considered the recent statements by Deposit Money Banks concerning the large volume of foreign currencies in their vaults and the decision to stop accepting foreign currency cash deposits into customers’ domiciliary accounts as a welcome development.

#BBB NEWS| N8bn Scam: Six CBN Executives Remanded In Prison

Six staff of the Central Bank of Nigeria, CBN, implicated in an N8billion defaced and mutilated currency recycling scam, were today remanded in prison custody following their arraignment by the Economic and Financial Crimes Commission, EFCC, before Justice N. Ayo Emmanuel of a Federal High Court sitting in  Ibadan, Oyo State.

The suspects: Patience Okoro Eye;  Afolabi Olufemi Johnson; Ilori Adekunle Sunday;  Kolawole Babalola,  Olaniran Muniru Adeola and Fatai Adedokun Yusuf, were arraigned on a five -count charge bordering on conspiracy, fraud and stealing.

Specifically, the apex bank employees were alleged to have compromised the CBN's Briquetting exercise, meant to mop up mutilated and defaced higher denomination currencies from circulation, to combat inflation.

Instead of destroying the currencies, they allegedly recycled the notes and substituted them with newspapers neatly cut to Naira sizes.