Day: February 26, 2026

Union Bank responds to Cardoso’s remarks at MPC meeting with calm assurance

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Union Bank of Nigeria has issued a statement reaffirming its steadfast position in the course of ongoing regulatory engagements in response to recent media queries at the Central Bank of Nigeria’s (CBN) 304th Monetary Policy Committee (MPC) press briefing. The bank’s affirmation comes in the wake of Governor Olayemi Cardoso’s clarification on the regulatory framework governing institutions under intervention while speaking on the complexities and structural considerations influencing the recapitalisation timeline. According to the CBN Governor, institutions currently under regulatory oversight are subject to unique circumstances that necessitate a differentiated…

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Ex-NNPC GM Jailed 87 Months in U.S. Over $2.1M Bribe

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A U.S. court has sentenced Paulinus Okoronkwo, a Nigerian-American and former General Manager of the Nigerian National Petroleum Corporation (NNPC), to 87 months in federal prison for accepting a $2.1 million bribe from Addax Petroleum, a subsidiary of Chinese state-owned Sinopec. The United States District Court also ordered Okoronkwo to pay $923,824 in restitution to the Internal Revenue Service (IRS) and to forfeit $1,039,997, the net proceeds from the sale of his Valencia, California, home. Okoronkwo, who previously practised immigration, family, and personal injury law in Koreatown, California, was convicted…

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President Tinubu Decorates Tunji Disu as Acting Inspector‑General of Police

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President Bola Ahmed Tinubu on Wednesday formally decorated Tunji Disu with the rank of Acting Inspector‑General of Police, marking a significant leadership change at the helm of the Nigeria Police Force. The decoration ceremony was held around 4 p.m. at the State House, Abuja, where Mr. Tinubu personally pinned the new insignia on Disu’s uniform in the presence of key government officials, including the National Security Adviser, Nuhu Ribadu; Chief of Staff to the President, Femi Gbajabiamila; and Secretary to the Government of the Federation, George Akume. The immediate past Inspector‑General,…

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