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    Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

    Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

    FG fines Multichoice N766m over privacy breaches

    FG fines Multichoice N766m over privacy breaches

    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Food inflation: NSA, 36 states launch joint action

    Food inflation: NSA, 36 states launch joint action

    Petrol imports drop 54% as Dangote boost supply

    Petrol imports drop 54% as Dangote boost supply

    World Bank retains Nigeria’s growth at 3.6%

    World Bank retains Nigeria’s growth at 3.6%

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Sixteen years after meltdown, NGX market cap surges by 347.5%

    Sixteen years after meltdown, NGX market cap surges by 347.5%

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      Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

      Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

      FG fines Multichoice N766m over privacy breaches

      FG fines Multichoice N766m over privacy breaches

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Food inflation: NSA, 36 states launch joint action

      Food inflation: NSA, 36 states launch joint action

      Petrol imports drop 54% as Dangote boost supply

      Petrol imports drop 54% as Dangote boost supply

      World Bank retains Nigeria’s growth at 3.6%

      World Bank retains Nigeria’s growth at 3.6%

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Sixteen years after meltdown, NGX market cap surges by 347.5%

      Sixteen years after meltdown, NGX market cap surges by 347.5%

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        Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

        Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

        FG fines Multichoice N766m over privacy breaches

        FG fines Multichoice N766m over privacy breaches

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Food inflation: NSA, 36 states launch joint action

        Food inflation: NSA, 36 states launch joint action

        Petrol imports drop 54% as Dangote boost supply

        Petrol imports drop 54% as Dangote boost supply

        World Bank retains Nigeria’s growth at 3.6%

        World Bank retains Nigeria’s growth at 3.6%

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Sixteen years after meltdown, NGX market cap surges by 347.5%

        Sixteen years after meltdown, NGX market cap surges by 347.5%

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          Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

          Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

          FG fines Multichoice N766m over privacy breaches

          FG fines Multichoice N766m over privacy breaches

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Food inflation: NSA, 36 states launch joint action

          Food inflation: NSA, 36 states launch joint action

          Petrol imports drop 54% as Dangote boost supply

          Petrol imports drop 54% as Dangote boost supply

          World Bank retains Nigeria’s growth at 3.6%

          World Bank retains Nigeria’s growth at 3.6%

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Sixteen years after meltdown, NGX market cap surges by 347.5%

          Sixteen years after meltdown, NGX market cap surges by 347.5%

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            Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

            Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

            FG fines Multichoice N766m over privacy breaches

            FG fines Multichoice N766m over privacy breaches

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Food inflation: NSA, 36 states launch joint action

            Food inflation: NSA, 36 states launch joint action

            Petrol imports drop 54% as Dangote boost supply

            Petrol imports drop 54% as Dangote boost supply

            World Bank retains Nigeria’s growth at 3.6%

            World Bank retains Nigeria’s growth at 3.6%

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Sixteen years after meltdown, NGX market cap surges by 347.5%

            Sixteen years after meltdown, NGX market cap surges by 347.5%

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              Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

              Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

              FG fines Multichoice N766m over privacy breaches

              FG fines Multichoice N766m over privacy breaches

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Food inflation: NSA, 36 states launch joint action

              Food inflation: NSA, 36 states launch joint action

              Petrol imports drop 54% as Dangote boost supply

              Petrol imports drop 54% as Dangote boost supply

              World Bank retains Nigeria’s growth at 3.6%

              World Bank retains Nigeria’s growth at 3.6%

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Sixteen years after meltdown, NGX market cap surges by 347.5%

              Sixteen years after meltdown, NGX market cap surges by 347.5%

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                Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                FG fines Multichoice N766m over privacy breaches

                FG fines Multichoice N766m over privacy breaches

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Food inflation: NSA, 36 states launch joint action

                Food inflation: NSA, 36 states launch joint action

                Petrol imports drop 54% as Dangote boost supply

                Petrol imports drop 54% as Dangote boost supply

                World Bank retains Nigeria’s growth at 3.6%

                World Bank retains Nigeria’s growth at 3.6%

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Sixteen years after meltdown, NGX market cap surges by 347.5%

                Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                  Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                  FG fines Multichoice N766m over privacy breaches

                  FG fines Multichoice N766m over privacy breaches

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Food inflation: NSA, 36 states launch joint action

                  Food inflation: NSA, 36 states launch joint action

                  Petrol imports drop 54% as Dangote boost supply

                  Petrol imports drop 54% as Dangote boost supply

                  World Bank retains Nigeria’s growth at 3.6%

                  World Bank retains Nigeria’s growth at 3.6%

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Vehicle forfeiture: Lagos goes on the offensive

                  The Nation | November 24, 2020
                  Vehicle forfeiture: Lagos goes on the offensive
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                  In Lagos, drivers, irrespective of whether they are commercial or private, engage in this with reckless abandon, with many culprits driving three to five kilometres of one-way, just to beat a congested road or gridlock.

                  To avoid being arrested for flouting the law, they drive on top speed, and in some instances, run over innocent passersby or unsuspecting pedestrians, killing or maiming them in the process.

                  Take a sample, Daniel (surname withheld), a young reporter, missed death by the whiskers just in front of his office as he bid to cross the road and head home at the close of work, last Monday. He was hit from behind by a vehicle on top speed and fell over, missing being run over by the vehicle by chance. He sustained some bruises that landed him at the hospital.

                  Abdullahi Saka wasn’t as lucky, he was hit by a reckless driver at the Ilupeju Clover Bridge weeks back on a pitch-dark night. He died on the spot.

                   

                  Cases inlving driving against traffic, more popularly known by the locals as one-way driving, have become the gravest threat to safe and seamless driving on the sta such practice. the transportation sector last Thursday, the Commissioner for Transportation, Dr Frederic Oladeinde, said the government is determined to bring down the ugly culture, which is causing more harm than good to the motoring public. He said it is time that the State’s Transport Sector Reform Law 2018, comes into full force.

                  The meeting which equally targeted commercial okada operators and their nefarious activities said the government would not hesitate to put the full weight of the law to bear on all operators with a view to sanitising road operations. While for the okada, penalties ranging from N20,000 to three months imprisonment awaits any okada operator who flouts its law forbidding them from running on some selected roads, bridges and local governments, motorists, on the other hand, who drive against traffic risk having their vehicles forfeited.

                   

                  What the law says

                  Section 1 of the TSRL 2018 states that any first offender driving okada without helmet would pay a N20,000 fine, while subsequent offenders pay N30,000 fine and an additional three months imprisonment or six months community service.

                   

                  Section 2 of the law states that anyone driving okada below 200cc engine motorcycle would have the motorcycle impounded.

                  For motorists, Section 3 states that anyone driving beyond the approved speed limit stands the risk of paying a N100,000 fine, or two years imprisonment or both.

                  Section five, states that anyone driving in a direction prohibited by the law or neglect of traffic direction. Fines prescribed by the TSRL 2018 was outright forfeiture of the vehicle to the state in addition to one year imprisonment for first offenders, while second risk three years imprisonment in addition to the forfeiture of the vehicle, in addition to the capturing of the serial offenders biometric for eventual blacklisting and certification as a driver on the roads.

                   

                  Oladeinde insists that the government would no longer condone the lawlessness and indiscipline on any of its roads.

                  To demonstrate the implementation of the law, the Commissioner of Police Hakeem Odumosu, last Saturday, showed some vehicles, including private and commercial buses that had been arrested for flouting the one-way traffic law. Odumosu said the vehicles had been forfeited in accordance with the state’s traffic law.

                  Convener of Safety Without Borders Patrick Adenusi, threw his weight behind the full implementation of the law. He insisted that besides the forfeiture and imprisonment, anyone caught plying one way ought to be asked to undergo medical examination to certify their mental fitness.

                   

                  “The government is on course. The law is long overdue. Outright forfeiture is the way to go if the government’s determination to sanitise the transport sector must be taken seriously. The lawlessness on our roads is unpardonable, people would just begin to drive against traffic at the slightest sight of an impediment. In some instances, some reckless drivers drive three to four kilometres against traffic and usually on top speed. Many people have been run over from behind. We have seen one way driving even on Third Mainland Bridge, which showed there is no road that these unscrupulous drivers do not drive against traffic. It is common these days to see concrete barricades just to prevent some of these drivers from driving against traffic, this is extremely unacceptable,” Adenusi said.

                   

                  The Vice Chairman National Union of Road Transport Workers (NURTW), Alhaji Abdulahi Ojora, said the leadership of the union threw its weight behind any initiative aimed at decongesting the roads.

                  Ojora who said the union is carrying out a lot of sensitisation of its members in all the parks in the state said the leadership would not mediate for anyone caught going against the state’s laws from facing the full wrath of the law.

                  But the Dean of School of Transportation Prof Samuel Odewunmi however urged the government to exercise caution in the implementation of the TSRL 2018 law in order not to create a conduit to corrupt security operatives who will enforce the law.

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