REA MD, executive directors, suspended indefinitely over N1.2bn fraud

President Bola Tinubu has suspended the managing director and chief executive of the Rural Electrification Agency (REA), Ahmad Salihijo Ahmad, indefinitely. Ajuri Ngelale, special adviser to the president on media and publicity announced this in a statement on Thursday in Abuja. Also suspended indefinitely, are Olaniyi Netufo, executive director, corporate services, Barka Sajou, executive director, technical…

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CBN expresses concern over growth in foreign currency exposures, issues  new directives to banks on  risks management

The Central Bank of Nigeria (CBN), has expressed concern over the growth in foreign currency exposures of banks through their Net Open Position (NOP). The apex bank disclosed this in a circular published on Wednesday on its website. The circular was signed by its Director, Trade and Exchange, Dr. Hassan Mahmud and the Director, Banking…

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