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Pulse brings you front page stories from Nigeria’s leading newspapers on a day-to-day basis.

Find out what is making headlines all over the country from the covers of The Punch, Vanguard, The Guardian and more.

For today, Tuesday, January 12, 2016:

VANGUARD NEWSPAPER

Why we've not arrested Jonathan - EFCC boss

The Economic and Financial Crimes Commission, EFCC explained,yesterday whyit has not arrested former President Goodluck Jonathan following startling revelations on how the former National Security Adviser, NSA, Col Sambo Dasuki (retd) allegedly disbursed over $2.1 billion meant for arms purchase to various individuals.

Bayelsa poll: Sylva heads for tribunal

Former Bayelsa State governor and candidate of All Progressives Congress, APC, in the just concluded governorship poll in the state, Chief Timipre Sylva, yesterday said he would challenge the outcome of the election in the state at the tribunal, describing the exercise as a sham.

CBN stops sale of FOREX to BDCs

Lagos - The Central Bank of Nigeria, CBN, has stopped, with immediate effect, the sale of foreign exchange, FOREX, to Bureau de Change, BDCs as part of measures to reduce the pressure on the nation's foreign reserves. READ MORE:

 

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THE PUNCH NEWSPAPER

Arms Scandal: EFCC extends probe to ex- VP Sambo

The Economic and Financial Crimes Commission has extended its ongoing investigation into the $2.1 bn arms procurement scandal to the office to the office offormer Vice-President Namadi Sambo. READ MORE:

I won't return N100m, Falae dares EFCC

The National Chairman of the Social Democratic Part, Chief Olu Falae,on Monday said he would not return the 100m he collected from a former Chairman, Board of Trustees of the Peoples Democratic Party, Chief Tony Anenih, as ordered by the Economic Financial Crimes Commision. READ MORE:

Switzerland to return $300m looted funds to FG

The Minister of Foreign Affairs,Geoffrey Onyeama, has assured Nigerians that negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad. READ MORE:

 

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THE GUARDIAN

CBN releases new forex rules, ends BDCs funding

A set of fresh regulations on foreign exchange (fore) saw to the Central Bank of Nigeria (CBN) yesterday ending the programme of funding bureaux de change weekly. READ MORE:

Swiss govt to repatriate $300 million to Nigeria

Minister of Foreign Affairs, Geoffrey Onyema yesterday revealed that the government of Switzerland is currently working on modalities to repatriate another $300 million Nigerian money that was stashed away in the country,proceeds of corruption. READ MORE:

Govt directs depots to sell kerosene at N73.37k per litre

The nation may be enmeshed in another round of tension as the Federal Government has directed petroleum depots to sell the Dual Purpose Kerosene (DPK) at N73.37k per litre from the initial price of N40.90k per litre.

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THE NATION NEWSPAPER

No more CBN forex for BDCs

Bureau de Change (BDC) operators got yesterday a piece of bad news -the Central Bank of Nigeria (CBN) will no longer sell to them foreign exchange.  READ MORE:

Metuh to EFCC: I'd rather starve than to refund N400m

Detectives have hit a stalemate in their bid to recover the N400million traced to a companyi n which Peoples Democratic Party (PDP) spokesman Olisa Metuh has a stake.

Ekiti, Osun 2014 polls: Military panel recommends retirement of officers

The military has come down hard on its officers who were unprofessional during the governorship elections in Ekiti and Osun states in 2014 and in last year's general elections.

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Business Day

Analysts welcome CBN's review of FX market rules

Financial analysts and bankers last night commended the Central Bank of Nigeria (CBN) for lifting the ban on Foreign Exchange (FX) cash deposits and discontinuation of Foreign Exchange Supplies to the Bureau de Change operators. 

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Quality of local raw materials scares manufacturers

Many Nigerian manufacturers avoid using local raw materials because of their poor quality and insufficient quantity. This is why manufacturers depend heavily on imported raw materials and have struggled to survive in the last 12 months, following the Central Bank of Nigeria's (CBN) decision to impose restrictions on the foreign exchange market.

Nigeria VAT collections to triple on improved compliance

Nigeria could be getting three times as much as it does now from its value added tax (VAT) simply by closing loopholes rather than by raising the current rate.

 

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