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Central Bank of Nigeria Proposes 5-Year Banking Ban for Repeat Dud Cheque Issuers

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The Central Bank of Nigeria has introduced a stringent new policy to curb the issuance of dud cheques, proposing an automatic five-year banking ban for repeat offenders. The draft guidelines, now open for public comment, aim to restore discipline and confidence in the use of cheques as a financial instrument.....TAP TO CONTINUE READING

Key Points:

Customers who issue three dud cheques will be classified as serial offenders.
Repeat offenders face an automatic five-year ban from the clearing system.
Banks must report dishonoured cheques to credit bureaus within one hour.
The ban applies to opening new current accounts and accessing credit facilities.
Subsequent offences after a ban will trigger a fresh five-year penalty.
Banks face fines up to ₦5 million for non-compliance with reporting rules.
The policy aims to protect the payment system and strengthen financial discipline.

This move signals a firm shift from tolerance to accountability, framing financial integrity not just as a regulatory expectation, but as a non-negotiable pillar of a trustworthy economic environment.

Sources: Nairametrics, The Cable

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“I’m Jesus baby” – Regina Daniels runs back to Christianity after crashed Muslim marriage

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Nollywood actress Regina Daniels has sparked massive reactions online after openly embracing her Christian faith while her marriage to billionaire politician Ned Nwoko remains in serious crisis. The mother of two, who is currently in London, got many people talking when she shared a cheerful video vibing to Tim Godfrey’s gospel hit “Big God.”....TAP TO CONTINUE READING

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We’ll Just Go Back To Our Multi-Billion Dollar Business – Davido Speaks On Adeleke Losing Osun Election

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Afrobeats singer Davido has hinted that the Adeleke family may focus on their business ventures if they lose the upcoming Osun governorship election.....TAP TO CONTINUE READING

Naija News reports that the comment came amid online discussions about Governor Ademola Adeleke’s political future.

Some users were speculating on the impact of his possible loss under the Accord Party.

One Mr Lurvy wrote: “Osun APC blocking Ademola Adeleke, a sitting Governor, from joining the party is one for the history books. The plot twist would be if Ademola Adeleke wins with Accord and takes over Osun APC.”

Another netizen, Whemimor replied him: “If e lose na Davido go compose song for APC during 2027 campaign.”

Davido quoted Whemimor’s tweet by saying: “Or we can just go back to our multi-billion dollar company …”

The singer’s comment comes shortly after Governor Adeleke emerged as the governorship candidate of the Accord Party for the 2026 governorship election.

He emerged winner at the Accord Party primary election with 145 votes.

Announcing the result of the primary, the Secretary of the electoral committee, Abdulazeez Salaudeen, said five votes were voided.

“The electoral committee has delivered on its mandate. After voting and counting, witnessed by the agents of the candidate and the officials of the Independent National Electoral Commission.

“Having the highest number of votes, I declare Senator Nurudeen Ademola Adeleke as the winner of the primary,” Salaudeen said.

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BREAKING: Nigerian senators demand reversal of airfare hike as tickets hit N700,000

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Nigerian senators have demanded an immediate suspension of the recent hike in domestic airfares as one-way ticket price rose to between N460,000 and N700,000 depending on the destination.....TAP TO CONTINUE READING

The call was made during Tuesday’s plenary session at the Red Chamber as senators moved a motion to summon the country’s mviation minister, Festus Keyamo, SAN, to explain the reason for the airfare hike.

While supporting the motion, the senator representing Kebbi Central, Adamu Aliero said the air ticket from Abuja to his state has increased to about N700,000, lamenting that the prices in Nigeria are unaffordable.

“The airfare is too exorbitant. Going to Kebbi myself, I have to spend close to about N700k. This is unaffordable.

“There has not been a corresponding increase in aviation fuel and airport charges. So we need to summon all the stakeholders and question them on the reason for the hike,” he said.

Also lending his voice to the motion, the senator representing Ebonyi North, Onyekaci Nwaebonyi, said he was shocked that the ticket for a one-way trip from Abuja to Enugu goes for between N460,000 and N500,000.

“I called my personal assistant to get the ticket for me for December 13th from Abuja to Enugu. Shockingly, the cost for a one-way ticket from Abuja to Enugu is N500,000 with Air Peace and N460,000 for Ibom Air. This is unheard of,” he stated.

Similarly, Oyo senator Abdulfatari Buhari lamented that it has become too expensive to travel in Nigeria due to high costs.

“Nigerians are finding it very difficult to travel from one place to another, Mr. President. Will you believe that from Abuja to Lagos ranges from 400,000 to 650,000 and then from here Enugu is about 500,000 and even from Abuja to Ilorin is 550,000? When we noticed all these, the committee decided to investigate further and we found out poor people cannot afford to travel looking at the festive period.

“Mr. President (Senate President Godswill Akpabio), it is important that we wade in to help Nigerians because of this festive period that is coming for people who want to move from one place to another, particularly since our road is becoming difficult to travel on. We decided to interact with airline owners; they have also had one or two teams.”

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