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House Of Representatives Investigates Activities Of Illegal Financial Technology Companies 

Satomi further noted that most of these loan apps or companies and individuals operate with no regulation by the government, expired licenses and in some cases, no licensing.

Read Also: Ondo/Edo Governorship Election: Defend N700m Collected From Service Wide Votes- Senate Summons Ministry Of Interior 

According to him, searches for the registration status of loan apps in Nigeria from the Corporate Affairs Commission show that the founding directors of such apps or companies were foreign nationals without the required license to operate the volume of financial transactions and illegally operating in the country.

He explained:

The House is worried about the operations of Kash Kash, with a hosted operating account under the name Super Car Universal Limited with a certain commercial bank in Nigeria, where Kash Kash carries out activities of the loan app, such as the exorbitant interest rates they collected from customers and defamatory messages sent to contacts of their customers when they missed their repayment date.

The House is also worried that such an account holder did not have the required license to operate as a money lender, which led the commercial bank to close the first account, but such operations were moved to another account named Speedy Choice which is still operational and managed by the same people who managed the previous account.

The House is again worried that many of such online loan apps operating in Nigeria, disbursing loans to customers with no collateral and defaulters, are always sent threatening messages and that loan apps and other fintech products can be used for money laundering and other forms of illicit financial flows.

The House is pained that these unregulated Nigerian fintech companies shame, threaten customers for late payment of loans.

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Pregnant Married Woman Arrested For Faking Kidnap, Sharing Ransom With Boyfriend

Operatives of the Federal Capital Territory (FCT) Police Command have arrested an expectant mother who faked her own kidnap and demanded for N2 million as ransom from her husband.

It was gathered that the woman shared the ransom money with the man suspected to be her boyfriend, and whom she connived with to defraud the husband.

FCT Commissioner of Police Benneth Igweh, who paraded the suspects yesterday, said: “About 19:40hrs on March 11, one Chiedozie Ubah of Saburi II Dei-dei, Abuja, reported at Gwa Gwa Police Division that his pregnant wife, Rosemary Ubah, left for the hospital on same date but did not return home. He later received a call from his wife’s number telling him that she had been kidnapped and demanded for two N2 million ransom before her release.

“He transferred the money into his wife’s account as instructed and later brought his wife to the station after her release. During interrogation, the wife freely confessed to have conspired with one man named Walter Ezeala living on the same street with them at Saburi to extort money from her husband.

“The said Walter was arrested and he confessed that he got N800,000 from the ransom money.

“N793,500) cash, two ATM cards and two android phones were recovered from them.”

In a similar development, Igweh narrated how operatives of the command arrested a man who faked also his own kidnap to test the loyalty of his girlfriend.

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Dollar To Naira Exchange Rate For Today 22 March 2024

Find below, the Dollar to Naira exchange rate for today, 22 March 2024.

Lifestyle Nigeria has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.

What Is The Official Exchange Rate For Dollar To Naira Today?

The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira opened at ₦1536.83 per $1 on Wednesday, March 20, 2024, and closed at ₦1453.28 per $1 on Thursday, March 21, 2024.

However, the Naira is trading as high as ₦1,400 per Dollar at the black market even though the Central Bank of Nigeria (CBN) announced the unification of all segments of the foreign exchange market.

The apex bank, had in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.

The statement read, “Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.

“Re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017, and referenced FM/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.

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Abure Ajaero – .

The National Chairman of the Labour Party (LP) Comrade Julius Abure, has warned the President of the Nigeria Labour Congress, Comrade Joe Ajaero, against utilizing the NLC’s platform, finances, and assets for his aspirations to vie for the presidency in 2027 or the governorship of Imo State.

Abure issued this warning in Asaba, Delta State on Wednesday in response to the closure of the Labour Party’s National Headquarters by protesting NLC members. The protesters were calling for his swift removal as the National Chairman of the party.

He said: “I must state today that the leadership of NLC under Joe Ajaero is on the part of destroying the successes we have recorded in the 2023 general election.

“I had expected that as a responsible trade union centre, a responsible labour leader; number one should have teamed up with Labour Party to see how we can team up together to make the country better.

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Abure continued, “Unfortunately and ironically too, the NLC is the one that is on the part of war against Labour Party. I must state clearly that Ajaero as NLC President has not been able to organise a successful strike action. Not even a single protest or even picketing government establishment in order to bring government to accede to the numerous requests of workers.

“As we speak, there are unfair labour practices meted out to workers by several organisations in the country. I have not seen Joe Ajaero go to such organisations to picket them.”

While stressing that Joe Ajaero is not officially affiliated with the Labour Party, Abure clarified that the party is not under the ownership of the NLC as asserted by the labor union.

He said: “Over the past few years, NLC has been claiming ownership of Labour Party. l must state clearly that NLC is not the owner of Labour Party. The party is not owned by NLC.

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