News
Submit financial returns monthly or risk sanctions, CBN tells microfinance, mortgage banks
Submit financial returns monthly or risk sanctions, CBN tells microfinance, mortgage banks
The Central Bank of Nigeria has directed my icrofinance banks, Primary Mortgage Banks (PMBs) and Development Financial Institutions (DFIs) to submit their financial returns monthly through the FinA application or risk sanctions.
The apex bank disclosed this in three separate letters signed by its Director of Financial Policy and Regulatory department, Valentine Ururuka, to the financial institutions under the categories listed.
According to the letters, the CBN stated that all financial institutions under the categories listed should submit the monthly FinA on or before the 5th of the next month.
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It stated, “The Central bank of Nigeria has observed with dismay the late and non-rendition of periodic returns on FinA by Microfinance banks. All MFBs are therefore reminded on the provisions of section 24 of the Banks and Other Financial Institutions Act (BOFIA), 2020, and other extant regulation on timely rendition of regulatory returns.
“Consequently, all MFBs are to ensure that their monthly FinA returns are submitted on or before the 5th day after the month end. Where the 5th day falls on the weekend or public holiday, returns shall be submitted the previous work day.
“You are strongly advised to ensure timely rendition of all regulatory returns as future breaches shall be sanctioned.”
The same warning on failure to render the regulatory returns at the stipulated time was also issued to both PMBs and DFIs.
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Interview
“Not as Corrupt as the World Thinks”: Reno Omokri Defends Nigeria’s Image and Safety
Citing economic growth and safe public festivals, Reno Omokri urges the nation to tell its own story rather than rely on external perception indexes.
Nigeria is not nearly as corrupt or unsafe as foreign reports claim, according to Reno Omokri, Nigeria’s Ambassador-designate to Mexico. In a television interview on Channels Television, Omokri explained that international assessment groups often misunderstand Nigerian customs because they apply global benchmarks that ignore local traditions.
A central issue, Omokri noted, is how different cultures view appreciation. In Nigerian society, offering a gift to say thank you to an official who provides excellent service is a familiar sign of respect, much like tipping in other parts of the world.
However, international observers often label this practice as corruption. Omokri stated that the country needs to share its own experiences directly with the world rather than allowing outside groups to set a negative narrative.
Omokri also defended the country’s safety record by pointing to Lagos, where the economy has expanded steadily and major cultural events draw massive crowds.
He highlighted the annual holiday season in Lagos, which brings more than one million visitors together peacefully each year. For Omokri, these vibrant events show that everyday life in Nigeria is full of energy, community warmth, and safety.
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News
‘Jobs Must Not Be Based on Connections’ — Oyintiloye Tells FCC
Calls for greater transparency in the distribution of federal employment opportunities have intensified, with APC chieftain Olatunbosun Oyintiloye urging the Federal Character Commission to ensure that recruitment is not influenced by powerful individuals.
Oyintiloye, speaking in Osogbo, Osun State, appealed to the commission’s Executive Chairman, Ayo Hulayat Omidiran, to stand firm against intimidation or pressure while carrying out her responsibilities.
According to him, the credibility of federal recruitment depends on giving qualified Nigerians a fair chance, regardless of their background or connections.
He said the FCC should strengthen its oversight of recruitment processes and prevent situations where applicants are disadvantaged through manipulation or other improper practices.
“The FCC must adopt a renewed commitment to building a commission where merit, fairness and the principles of federal character guide the management of employment opportunities across the public service” Oyintiloye said.
His appeal comes shortly after Omidiran publicly reiterated that federal government jobs were not for sale and that employment opportunities should be available to Nigerians regardless of social status.
Oyintiloye said the position of the FCC was particularly important because of its constitutional responsibility to promote equitable representation in federal institutions.
He also praised the commission for addressing concerns over fairness in recruitment and allegations of corrupt practices, saying greater openness could help rebuild public confidence.
The APC chieftain further urged the commission to ensure that recruitment opportunities are communicated clearly and that qualified applicants from all parts of the country are given an equitable chance.
He expressed confidence that reforms under Omidiran could strengthen the FCC’s credibility, while encouraging job seekers to rely on legitimate recruitment announcements rather than individuals claiming to have connections within the commission.
The FCC itself has warned Nigerians about people offering supposed shortcuts into federal employment, stressing that it does not sell jobs or select candidates for federal appointments.
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News
Nwifuru Dismisses Cubana Chief Priest as ‘Attention-Seeker’
Ebonyi State Governor Francis Nwifuru has hit back at socialite and businessman Paschal Okechukwu, better known as Cubana Chief Priest, after the latter criticised his administration.
The governor dismissed the businessman’s comments while speaking at an event in Abakaliki, saying he had no interest in engaging with him.
“I don’t have time for Cubana Chief Priest. He’s a mere attention-seeker and an individual of no consequence” Nwifuru said.
He added, “However, if I remember him, I feel sorry for him.”
The exchange followed comments by Cubana Chief Priest questioning the governor’s performance in office. He reportedly challenged Nwifuru to explain how an administration could spend about three years in office without having major projects commissioned by the President or other state governors.
The remarks had earlier attracted criticism from Chinedu Ogah, the member representing Ikwo/Ezza South Federal Constituency in the House of Representatives.
Ogah condemned Cubana Chief Priest’s comments, defending the governor’s administration.
Nwifuru’s response now adds another layer to the controversy, although the governor did not provide a detailed response to the specific claims made about projects commissioned under his administration.
The disagreement has consequently shifted attention to the broader question of the Ebonyi government’s record on infrastructure and development projects since Nwifuru assumed office.
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