CBN head office The Federal Government has accused the Central Bank of Nigeria of misappropriating N2.73tn in interest payments from Ways and Means advances, raising serious concerns over irregularities in managing government funds. The allegation was disclosed in the consolidated financial statement of the Federal Government for the year ended December 31, 2021, submitted to the National Assembly by the Auditor-General, Shaakaar Chira, with reference number AuGF/AR.2021/01 and dated July 31, 2024. The Ways and Means facility, a temporary loan mechanism provided by the CBN to the government to finance budget deficits, is at the centre of the controversy. According…
Author: Lilian Azuh
World Bank logo The World Bank has fully disbursed a $1.5bn loan to Nigeria following the Federal Government’s implementation of key reforms, including removing fuel subsidies and introducing comprehensive tax policies, The PUNCH reports. The loan, part of the Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative, is among the fastest disbursements Nigeria has received with both tranches released in less than six months. According to a World Bank document obtained by The PUNCH on Sunday, the loan was approved on June 13, 2024, with the first tranche of $750m disbursed on July 2, 2024. The second tranche, tied to the…
On this Christmas Day, Primate Ayodele, leader of the INRI Evangelical Spiritual Church, has shared a heartfelt message calling on Christians worldwide to reflect on the true essence of Christmas — love. In his message, Ayodele emphasizes the significance of the birth of Jesus Christ as a profound symbol of God’s undying love, mercy, and the ultimate gift to humanity. “Christmas is a time to celebrate the birth of our Lord and Savior, Jesus Christ, whose life and sacrifice brought salvation and redemption to all of humanity,” Primate Ayodele said. “It is a moment to remember God’s great love for…
When it comes to prophecies and their spontaneous fulfillment, just leave it for Primate Elijah Ayodele of INRI Evangelical Spiritual Church, nobody does it like him. As we know, the credibility of a prophet and his prophecies lies in the accuracy and fulfillment of his prophecies, Primate Ayodele has continued to showcase the true traits of a prophet with instant fulfillment of his prophecies. The Bible also made it known that No one says a thing and have it happen except God made it happen, this simply describes Primate Ayodele prophecies as divinely orchestrated. Just a week ago, Primate Ayodele…
…cements capital raise with full regulatory approval Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise. This approval represents the final leg of the capital injection that was achieved through a private placement in September 2024. Building on the private placement’s success, Sterling launched a Rights Issue in October 2024, structured to provide existing shareholders the exclusive opportunity to deepen their stakes in the company and share in its growth story. The Rights Issue received significant interest and participation, highlighting the…
Hardcore News_ Sir Patrick Nnaemeka Ubajaka also referred to as Ike Nnewi is aspiring to represent Anambra South Senatorial District in the Senate on the platform of the All Progressives Grand Alliance (APGA). Sir Patrick Ubajaka, a human rights activist and great philanthropist, on Thursday said his plan to contest for a Senatorial seat in 2025 was borne out of his zeal to give the people the dividends of democracy. Sir Ubajaka told the Hardcore News of Nigeria (HN) in Nnewi that citizens who had hoped for a better life since the return of democratic rule in Nigeria were disappointed…
On Friday, December 27, 2024, the Gateway Stadium, Sagamu was aglow as the maiden edition of Remo Day culminated in a grand rally celebrating the unity, culture, and progress of Remoland. Hosted by the revered Akarigbo of Remoland, the event brought together dignitaries from across the nation, including the Chief of Staff to the President of Nigeria, Hon Femi Gbajabiamila, the esteemed Governor of Ogun State, Prince Dapo Abiodun (MFR) and the first lady of the state, The Ewusi of Makun, HRH Oba Timothy Oyesola Akinsanya, ORUNAGBA II, Chairman of Adron Group and Otun Akile of Remoland Aare Adetola Emmanuelking,…
Okupe A former spokesman and former Director-General of Peter Obi Presidential Campaign Organisation, Dr Doyin Okupe,says the south ,and not the north,should produce the president in 2027. Okupe said though Alhaji Atiku Abubakar,the PDP presidential candidate in 2023 ,was eminently qualified to contest in 2027, he did not think it was right for the PDP chieftain to be president.The ex-Presidential spokesman said the problem with the idea of Atiku presidency in 2027 is geopolitics ,not age,adding the south should be allowed to complete its eight-year term ,just as the north did before the coming of President Bola Tinubu. Speaking in…
Asake Nigerian music star Asake has fueled speculation about his relationship with his record label, YBNL, after making notable changes on his Instagram profile. As of Thursday, December 26, 2025, a check at Asake’s Instagram page revealed that he has removed any mention of YBNL from his bio and unfollowed everyone on the platform.This unexpected move has left fans wondering if a significant shift is underway. Adding to the intrigue, Asake was conspicuously absent from the Flytime Festival 2024 on Tuesday, where YBNL boss Olamide headlined the event. The festival turned into a nostalgic YBNL reunion, featuring performances by former signees such…
Court Four drug kingpins involved in the historic seizure of 2,139.55 kilograms of cocaine at an Ikorodu residential estate in 2022 have been sentenced by a Federal High Court in Lagos State. The convicts, Soji Jubril Oke, 71; Wasiu Akinade, 55; Emmanuel Arinze Chukwu, 67; and Kelvin Christopher Smith, 44, a Jamaican, were arrested by operatives of the National Drug Law Enforcement Agency in various locations across Lagos between Sunday night, September 18, and Monday morning, September 19, 2022. The arrests followed a raid at 6 Olukuola Crescent, Solebo Estate, Ikorodu, Lagos, where over 2.1 tons of cocaine were seized.…