CBN Forex Dividend Ban, Simon Lalong Victory, and More Your Must-Read Tuesday Headlines Unveiled

CBN Forex Dividend Ban, Simon Lalong Victory, and More Your Must-Read Tuesday Headlines Unveiled

Tuesday Morning Headlines: CBN Bans Banks from Using Forex Gains for Dividends, Simon Lalong Wins Plateau South Senatorial Seat, Visa Ban on Nigerian Travelers Lifted, and More

In today’s news roundup:

  1. The Central Bank of Nigeria (CBN) has issued a directive instructing commercial banks not to utilize their foreign exchange revaluation gains for dividends and operational expenditures. This move aims to ensure prudent management of forex resources.
  2. In a recent development, the National Assembly Election Petition Tribunal in Jos, Plateau State, has declared Minister of Labour and Employment, Simon Lalong, as the winner of the Plateau South senatorial district. The tribunal invalidated the election of the Peoples Democratic Party (PDP) candidate, Napoleon Bali, citing issues with his nomination.
  3. President Bola Tinubu and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, have successfully negotiated the lifting of the visa ban that was previously placed on Nigerian travelers. This agreement is expected to facilitate smoother travel between Nigeria and the UAE.
  4. The National Assembly Election Petition Tribunal in Umuahia, Abia State, has removed three House of Representatives members from the Labour Party (LP). Ibe Okwara Osonwa, Emeka Nnamani, and Munachim Alozie lost their seats following deliberations on the petition filed against them.
  5. Tragedy strikes again as another boat accident claims 11 lives in Adamawa State. This marks the third such incident in just eight days. The boat accidents have raised concerns about safety and regulations on water transportation.
  6. Federal Capital Territory (FCT) Minister, Nyesom Wike, has emphasized the importance of prudent financial management while overseeing the rehabilitation of 135 roads and civil engineering services in the nation’s capital. He urged contractors to adhere to agreements and avoid contract variations that could lead to additional costs.
  7. A longstanding boundary dispute between Ijiegu-Yache community in Cross River State and Mbaaka community in Benue State has resulted in the loss of seven lives, mainly young individuals. The conflict highlights the need for peaceful resolution of land disputes.
  8. In a disturbing case, a security guard named Samuel Adeniyi has been remanded at the Kirikiri Correctional Centre in Lagos for allegedly killing his girlfriend, Morolake Sunday, with a sledgehammer in Lekki Phase 1. The court proceedings will determine the outcome of this tragic incident.
  9. Gunmen suspected to be bandits have launched an attack on Kulben community in Plateau State, resulting in the tragic deaths of 10 individuals. The attackers also caused extensive damage to houses, further destabilizing the region.
  10. In a significant legal development, a Federal High Court in Port Harcourt has sentenced George Turnah, a former Special Adviser to the former Managing Director of the Niger Delta Development Commission, to six years in prison. Turnah and two others were found guilty of obtaining money under false pretenses.

These headlines provide a snapshot of the key events shaping Nigeria on this Tuesday morning.

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