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Central Bank Grants Permit To Foreign Banks To Disburse Loans To Nigerians In Dollars

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The Central Bank of Nigeria (CBN) on Monday granted foreign banks permission to give loans to Nigerians and companies operating in Nigeria in dollars.

The apex bank adopted this measure to expand dollar liquidity in Nigeria through foreign bank representatives by authorising foreign banks to work with their parent firms in obtaining and syndicating foreign currency-denominated loans (dollar loans) to Nigerian companies.

The Guidelines for the Regulation of Foreign Bank Representative Offices in Nigeria, signed by the Director of Financial Policy and Regulation Department, Muhammad Musa, stated that the policy corresponds with the CBN’s mandate to maintain financial system stability.

He stated that the rules are supported by Sections 6(1) and 8(1) of the Banks and Other Financial Institutions Act 2020 (BOFIA), which stipulate that “no foreign bank shall operate in Nigeria without the prior approval of the CBN.”

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BBNaija: No Regret Saying No To Frodd – Esther

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Former housemate in the Big Brother Naija, Pepper Dem edition, Esther Agunbiade, told Entertainment Jamboree that she did not regret saying no to Frodd when he asked her out.

According to Esther, she said, in as much as I am very happy for Frodd, I did not regret turning him down when he asked me out then. Frodd needed me so seriously when we were in the house, but I declined it. He thought it would be more easier for him after we left the house. After the show, I maintained my stance by telling him that I am not interested. I cherished how he hustle his way to be successful in life, because he is successful with happy family too. However, there’s no regret at all turning him down, because my man is also a successful business man.

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Nigerian Woman Laments As Caucasian Widowed Neighbor Plans To Marry Her Visiting Mother

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A Nigerian woman in the UK has raised concerns as her mother, who initially came to assist with her newborn, is now preparing to marry a widowed Caucasian neighbor.

The woman shared her story in a detailed statement online, expressing her dilemma over her mother’s intentions.

“My mother met my widowed neighbor. This man is very different from my father; he brings her flowers, organizes picnics, writes her love letters, and even joins us for church”.

He’s been teaching her to read, and his children are happy their father has someone special in his life again. My mother has stopped taking my father’s calls and says she’s no longer planning to return.”

“Now, I’m in a dilemma. The neighbor has hired an immigration lawyer, and he wants to marry my mother.”

  • Nigerian woman in UK seeks advice after her mother, visiting to help with newborn, falls in love with caucasian widowed neighbor and considers marriage.

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I Was Expelled From School Because Of Fela Kuti – Movie Director, Andy Boyo

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Renowned movie director and patron of the Directors Guild of Nigeria (DGN), Andy Boyo, has shared how he was expelled from school because of the legendary Fela Anikulapo Kuti.

Fela, a Nigerian artist and political advocate, passed away in Lagos, Nigeria, in 1997 at 58

Fela is seen as the main creator of Afrobeat, a Nigerian music style that mixes West African rhythms with American funk and jazz.

Boyo, however, is preparing to bring the iconic life of the Afrobeats legend to the silver screen in a much-awaited biographical film.

After three years of planning, Boyo has obtained the rights to the music and is ready to begin filming in Nigeria, the UK, and the US in 2025.

Rumours suggest the high-profile movie will have an extensive cast, including 27 actresses portraying Fela’s wives.

Boyo, recognized for his successful films such as “Untamed” and “Spirit of Assassins,” will also direct, write, and produce the biographical film.

Speaking on his love for Fela and the project he is working on.

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