Day: February 7, 2024

CBN blames naira free fall on number of Nigerians schooling abroad, medical tourism

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The governor of the Central Bank of Nigeria (CBN), Oluyemi Cardoso, disclosed yesterday that Nigerians spent over $40 billion to access education and healthcare abroad between 2010 and 2020, noting that the high number of Nigerians in foreign schools and medical tourism are two of the major factors putting pressure on the naira.     He made this disclosure while appearing before the House of Representatives for the sectoral debate on the economy. According to the bank chief, the demand for dollars by these students and those travelling for medicals…

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Reps to probe NAFDAC’s ban on alcoholic beverages in sachets

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The House of Representatives has mandated its committee on the National Agency for Food and Drug Administration and Control to probe the circumstances surrounding the ban imposed on the production of beverages in sachets and small bottles in Nigeria by the agency. This was sequel to a motion moved on the floor of the Green Chamber by members Paschal Agbodike and Philip Agbese during the plenary session on Wednesday. Recall that in January this year, NAFDAC banned the production of beverages in small sachets and bottles for reasons not unconnected…

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N1.3bn Fraud: How Pastor Ebonyi acquired hotel, factory with subscribers’ funds

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  The alleged criminal activities of the General Overseer of Faith On The Rock Ministry International, Apostle Theophilus Oloche Ebonyi, recently arrested by the Economic and Financial Crimes Commission, EFCC, has been uncovered. Investigations showed that Ebonyi acquired a 23-room hotel, a pure water factory, two blocks of a Primary School and two bungalow office at Nyanya-Gwandara, New Karu, Abuja and a five-bedroom duplex at Karsana, Abuja with the proceeds of his fraudulent dealings with his subscribers. He also set up a live broadcast channel with studio equipment for his…

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