NIGERIAN MILITARY JET CRASHES IN NIGER. (PHOTO).

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 Nigerian military jet crashes in Niger A Nigerian Air Force (NAF) Alpha Jet has reportedly crashed near Karabonde, Borgu Local Government Area of Niger State, on Saturday evening, December 6. Unconfirmed reports from local sources clam that the two pilots onboard survived the incident after successfully ejecting from the aircraft. A Niger state-based digital television network, Lapai TV, announced the tragic incident  in a post on its official Facebook account on Saturday evening, December 6. The post, accompanied by a one-minute video, read, “Two Nigerian Air Force Pilots Reportedly Survive Alpha Jet Crash Close to Karabonde, Borgu Local Government Area of Niger State”. It was reported that the two pilots successfully ejected before the aircraft went down. Meanwhile, the Nigerian military has yet to make any official statement concerning about the crash as of the time of filing this report.
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RELIEF AS CBN SUSPENDS CHARGES ON LARGE CASH DEPOSITS.(PHOTO).

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Relief as CBN suspends charges on large cash deposits
 
Relief came the way of bank depositors on Monday as the Central Bank of Nigeria has directed all banks, other financial institutions, and non-bank financial institutions, to suspend the processing charges previously imposed on large cash deposits.

This change, referenced under the “Guide to Charges by Banks, Other Financial Institutions, and Non-Bank Financial Institutions” dated December 20, 2019 (FPR/DIR/GEN/CIR/07/042), affects deposits over N500,000 for individual accounts and N3,000,000 for corporate accounts.

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Analysts say the suspension is a significant shift in policy and will remain in effect until the end of April 2024.

The move is seen as a fortification of the new financial landscape the apex bank is creating which demolishes some of the previous policies of the CBN.

It is also in response to the yearnings of depositors across Nigeria.

The directive mandates all financial institutions regulated by the CBN to comply by not imposing any charges on cash deposits that meet or exceed these thresholds. This development is expected to encourage more significant cash deposits, enhance liquidity, and possibly impact various sectors positively, including small and large businesses.

The move is expected to encourage hoarders to release huge chunk of cash in their possession as the fear of charges made them to withhold huge cash.

 

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