News

IG Reiterates Ban On PoS, Others In Police Stations

Published

3 years ago

March 4, 2024

The Nigeria Police Force has reiterated its ban on the use of Point-of-Sale terminal machines, and other mobile money transaction devices within police stations and other police facilities across the country.

The NPF said the ban followed public outcry on alleged “illegal and illicit transactions through ‘point-of-sale’ (POS) machine operators and connivance with certain police operatives.”

This was contained in a statement signed by the Force Public Relations Officer, ACP Olumuyiwa Adejobi, on Monday.

Adejobi said it had come to the attention of the police that some commands and formations of the NPF continued to flout the regulation, and that the ban was aimed at preserving the security and integrity of police operations.

The FPRO noted that the use of payment devices within the police premises posed risks, including the compromise of sensitive information and facilitation of illicit activities.

The statement read, “The Nigeria Police Force, following public outcry on alleged illegal and illicit transactions through point-of-sale (POS) machine operators and connivance with certain police operatives, hereby reiterates the ban on the utilisation of POS machines and other electronic mobile money transaction devices within police stations and other police facilities nationwide.

“The ban is aimed at preserving the integrity and security of police operations, forestalling perceived corrupt practices, as well as clearing the Commands/Formations of possible criminal intrusion under such guise, and maintaining discipline within the Force.”

Adejobi added that “despite previous directives, it has come to the attention of the Force leadership that some commands and formations continue to flout this regulation. As such, the IGP warns that any violation of this ban will attract severe sanctions on the leadership of the affected commands and formations.”

“The IG noted that the use of electronic payment devices within police facilities poses significant risks, including the potential compromise of sensitive information, financial irregularities, and the facilitation of illicit activities, therefore, strict adherence to this directive is non-negotiable”, the statement partly read.

The FPRO further stated that the Inspector-General of Police, Kayode Egbetokun, urged officials to comply with the directive, warning that any violation by officers or a POS operator would attract “severe sanctions” on the leadership of the affected Formations or Commands.

“The IG urges all officers and personnel to comply with this directive without exception and warns that any police officer or POS operator found contravening this order or conniving to conduct illicit financial transactions will face appropriate disciplinary and criminal action in accordance with the extant laws and regulations, and the Command/Formation leadership will equally be held responsible,” he stated.

News

Six Corps Members Receive N10m Grants To Boost Agribusiness

Published

2 days ago

September 22, 2026

Editor

Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

“We are happy with our collaboration with the NYSC, and it will continue,” he said.

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

News

CBN Reduces Interest Rate To 23%

Published

2 days ago

September 22, 2026

Editor

The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

News

NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

Published

2 days ago

September 22, 2026

Editor

Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

According to the post, the two union leaders have resolved their differences after years of strained relations.

“After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

“This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.