Republican Senator Markwayne Mullin claims Donald Trump ’s pick for defense secretary was “falsely accused” of sexual assault , defending his claim days earlier that Pete Hegseth had just been “flirting” with his accuser. A recently released police report from the 2017 incident revealed that the woman, who has not been identified, told police that Hegseth blocked the door to stop her from leaving his hotel room and took her phone away before sexually assaulting her . Hegseth has maintained that the encounter was consensual. Earlier this week, the Oklahoma senator told reporters in the Capitol that he had read the police report: “If you read it, you can clearly see that it was two people flirting with each other.” On CNN Sunday, Mullin defended his previous claim and said that be believed Hegseth’s insistence that the encounter was consensual “was accurate,” he said. “There was no case here. He was falsely accused,” he added. “She was being the aggressor. Pete wasn’t even flirting with her. He was flirting with a different girl, and [the Jane Doe] was trying to flirt with Pete.” In the police report, another woman told authorities that Hegseth had invited her back to his hotel room, but she “politely declined.” CNN host Dana Bash pressed Mullin: “From your perspective, you believe his part of the story and not hers?” “I absolutely do. He wasn’t charged. He wasn’t even kind of charged in this. There was no crime committed. The police dropped everything,” he replied. While he did not face charges, Hegseth paid the woman in 2023 as part of a confidential settlement to prevent a potential lawsuit, which he labeled as baseless. “What’s unfortunate in today’s world is you can be accused of anything. And then especially if it’s something like this, you are automatically assumed to be guilty,” Mullin told Bash. Investigators in Monterey, California were first notified about the alleged incident by a nurse, who told police a patient came to the hospital requesting a sexual assault exam for an incident that had occurred five days earlier, according to the newly released police report. The patient, identified as Jane Doe in the report, said she struggled to remember what happened, but recalled being intoxicated — and even speculated “something may have been slipped into her drink” because of her memory lapses. Although she didn’t remember how, Jane Doe said she wound up in Hegseth’s hotel room. She told police that Hegseth “took her phone from her hands” and when she tried to leave his room, and that Hegseth “blocked the door with his body,” according to the report. She recalled “saying ‘no’ a lot” but “did not remember much else,” the report says. Meanwhile, Hegseth told police that when they went back to his room, the woman “sat down in the room and did not leave,” which he found “odd.” The sex was “consensual,” they had discussed him wearing a condom, and he “continuously asked Doe if she was [OK] because he did not want Doe to get in trouble,” according to the report. Hegseth is among several of Trump’s cabinet picks who has been accused of sexual misconduct. Most of the scrutiny has focused on now-former Florida congressman Matt Gaetz, Trump’s initial pick for attorney general who later withdrew his name from consideration. Gaetz stepped aside after details emerged from two probes, including allegations that he had sexual encounters with a 17-year-old girl . Records obtained by The New York Times and ABC News suggest that Gaetz paid more than $10,000 to two women who testified before the a House Ethics Committee Following Trump’s election, a startling trend emerged: men started posting the phrase “your body, my choice” on women’s social media posts. Some of Trump’s own sexual assault accusers have also warned that his return to the White House marks a troubling time for survivors . “This is not a good time for survivors or victims,” one woman told The Independent in the days after Trump’s victory. “People are not going to speak up because, look, it’s falling on deaf ears. No one cares.” Trump has denied all the accusations against him. Trump’s transition team was reportedly caught by surprise when the details of the sexual assault allegation against Hegseth and the reports of his settlement became public.
The much-awaited prequel to Outlander, titled Outlander: Blood of My Blood, is set to premiere on Starz in 2025. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for While the debut season is yet to grace our screens, fans are already wondering about the possibility of a second season. Centered on the love stories of Jamie Fraser’s parents, Ellen and Brian, as well as Claire’s lesser-known lineage, this spinoff has stirred speculation about its future, as mentioned in a report by TV Insider. Here’s everything we know so far about the potential for Outlander: Blood of My Blood Season 2. Talk of a Second Season: What’s Been Said? Though there has been no official confirmation from Starz regarding a second season, the groundwork for future installments seems promising. 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In an interview, Gabaldon mentioned that she has material for three prequel books centered on Jamie Fraser’s parents, with Blood of My Blood drawing from the synopsis of the first book, as per the TV Insider report. Gabaldon’s comments suggest that the storyline could expand beyond a single season, especially with rich literary material waiting to be explored. However, the decision ultimately rests with Starz, which has yet to announce any renewals or long-term plans for the series, as per the report by TV Insider. What Could Season 2 Cover? With the first season of Outlander: Blood of My Blood still unreleased, it’s challenging to predict the exact trajectory of Season 2. The initial installment is expected to delve into the lives of Ellen MacKenzie and Brian Fraser in 18th-century Scotland, along with the love story of Claire’s parents, Henry and Julia, set against the backdrop of World War I England. Should the series return for a second season, fans could see a deeper exploration of these romances and the historical contexts that shape them. While Jamie’s parents have been referenced occasionally in Outlander, Claire’s family remains largely uncharted territory. This prequel could provide an opportunity to illuminate their lives and legacies. Who Could Return for Season 2? If Outlander: Blood of My Blood secures a second season, viewers can expect the main cast to reprise their roles. This includes Harriet Slater as Ellen MacKenzie, Jamie Roy as Brian Fraser, Jeremy Irvine as Henry, and Hermione Corfield as Julia. Season 1’s supporting cast is equally impressive, featuring Rory Alexander as young Murtagh, Sam Retford as young Dougal, Sadhbh Malin as Jocasta Cameron, and Tony Curran as Lord Lovat, among others. Additional casting for Season 2 would depend on the story’s direction, possibly introducing new characters pivotal to the narrative. What Lies Ahead for Outlander: Blood of My Blood? As fans eagerly await the premiere of Outlander: Blood of My Blood, the prospect of a second season adds to the excitement. With Diana Gabaldon’s wealth of prequel material and the show’s ambitious historical scope, the series has immense potential for expansion. FAQs How many episodes will Outlander season 7 have? The seventh season stands out as the longest yet, featuring an impressive total of 16 episodes. How old is Jamie when he dies in Outlander? In a 2014 interview on the Outlander Podcast , Diana Gabaldon revealed that Jamie is around 25 years old at the time of his death. (You can now subscribe to our Economic Times WhatsApp channel )
FPI Selling Spree Continues In Nov At Rs 26 533 Cr Intensity Of Outflow ReducesJimmy Carter, the 39th US president, has died at 100Two kayakers have been rescued off Wollongong's Five Islands amid strong, gusty winds as the sun began to set overnight. Black Friday Sale Subscribe Now! Login or signup to continue reading Marine Rescue NSW watch officer Phillip Turner was on duty at the Hill 60 radio tower, when he spotted an upturned kayak about 5.15pm on Thursday, November 21. The kayak was in waters off Big Island, and moments later he spotted a second person paddling in the area. "A multi-agency response was initiated," Marine Rescue NSW Inspector Stuart Massey said. As Marine Rescue volunteers mustered and were about to head to the scene, lifeguards from Port Kembla Beach got there first. "[Lifeguards] used a jet ski and rescued the paddler from Martin Islet and returned him to shore," Insp Massey said. "The other man who was kayaking in the area was also assisted back to Port Kembla Beach." Winds were gusting up to 41km/h off Port Kembla during as the kayakers were rescue and Insp Massey said it was definitely not suitable for non-powered watercraft offshore. "Without the keen observation of Marine Rescue Port Kembla Watch Officer Phillip Turner and the response from council lifeguards, the outcome could been different," he said. The Hill 60 area is notorious with rescues and drowning deaths of people rock fishing. In the past emergency services have rescued paddleboarders with hypothermia and also searched for people swept into the ocean while fishing . Nadine Morton covers emergency services and breaking news for the Illawarra Mercury. She takes pride in regional journalism which she believes is crucial to informing our towns and cities. Have a story? Email her at nadine.morton@austcommunitymedia.com.au Nadine Morton covers emergency services and breaking news for the Illawarra Mercury. She takes pride in regional journalism which she believes is crucial to informing our towns and cities. Have a story? Email her at nadine.morton@austcommunitymedia.com.au More from Latest News Newsletters & Alerts DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. WEEKLY Find out what's happening in local business. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!
In Acts 16, we see Paul and Silas facing severe consequences after freeing a slave girl from a spirit of divination. If you’ve never read the story, I encourage you to check it out; it’s pretty cool. Instead of receiving gratitude, they were beaten and thrown into the innermost prison, their feet locked in stocks. In that dark place, they had every reason to complain or fall into despair. I’m sure you’ve been there before, in a dark season where you feel stuck and see no way out. Yet, at midnight, they made a bold choice: they began to pray and sing hymns to God. Their decision to worship — a deliberate act of faith — stands in stark contrast to the natural inclination to grumble when faced with hardship. As Christians, we must recognize two essential truths when navigating trials. First, spiritual opposition is a part of our journey. The Christian life isn’t a cruise ship; it’s more like a battleship. Facing challenges comes with the territory, and understanding that we’re in a spiritual battle equips us to withstand those difficulties. Second, trials are not random; they are part of God’s divine plan. Like Paul and Silas, we will encounter obstacles, but these experiences are tailored for our growth and provide an opportunity to glorify God. Through these trials, God teaches us resilience and deepens our faith. When we choose to praise in the midst of adversity, we activate a powerful force. The praise of Paul and Silas was the sound of hope in the den of despair, leading to an incredible miracle—an earthquake that opened doors and unfastened their chains. Their worship wasn’t just a way to cope; it became a catalyst for God’s power to break through. This profound act of faith not only liberated them but also captivated the attention of the jailer, who soon sought salvation, bringing his entire household to faith. I imagine that God and the angels of heaven looked upon these men, amazed that they approached their situation as Job did. Do you remember Job’s words? He said, “Though He slay me, I will hope in Him.” Throughout the Scriptures, we find many instances where people could have easily given up, blamed God for their situation, and abandoned their walk with Jesus. But not Paul and Silas. They followed in the same steps of faith and praised God in the middle of their suffering. How about you? How do you handle the pain of life? How do you deal with unexpected changes in your plans? How do you behave when things go in a completely opposite direction from what you expected? I wish I could say I’ve never grumbled or complained or had a lousy attitude when I was in a bad place, but I’d be lying. Over and over again, I’ve failed the test and had to repent for my perspective. My feelings are real. Your feelings are real. Life hurts—I get it. But here’s the thing: we haven’t been called to live by our feelings; we’ve been called to live by faith and to learn to praise in the middle of our prison seasons. By God’s grace, we learn to adopt a new perspective—one that humbly admits that we don’t have the right to get sour when God has been so good to us. Let me ask you: has God been good to you? I wonder what would happen if you chose to thank Him and praise Him when it’s the last thing you felt like doing. I’m willing to bet you would find the foundation of your situation changing, just as Paul and Silas experienced their prison walls shaking and soon discovered the freedom that comes from breaking the shackles of negativity. As we reflect on our lives, let’s consider the “prisons” we may be facing. What burdens can we break free from through praise? How can we intentionally offer thanks even when it's challenging? The discipline of praise is not just about enduring tough times; it’s about actively choosing gratitude in the face of adversity. By lifting our voices in worship, we honor God, demonstrate our faith, and hopefully inspire those around us to do the same. In every season, let us remember the power of praise—it can transform our struggles into stepping stones toward deeper faith and new opportunities for witnessing God’s goodness.Israel cracks down on Palestinian citizens who speak out against the war in Gaza UMM AL-FAHM, Israel (AP) — In the year since the war in Gaza broke out, Israel's government has been cracking down on dissent among its Palestinian citizens. Authorities have charged Palestinians with “supporting terrorism” because of posts online or for demonstrating against the war. Activists and rights watchdogs say Palestinians have also lost jobs, been suspended from schools and faced police interrogations. Palestinians make up about 20% of Israel's population. Many feel forced to self-censor out of fear of being jailed and further marginalized in society. Others still find ways to dissent, but carefully. Israel's National Security Ministry counters that, “Freedom of speech is not the freedom to incite.” Israel says rabbi who went missing in the UAE was killed TEL AVIV, Israel (AP) — Israel says the body of an Israeli-Moldovan rabbi who went missing in the United Arab Emirates has been found, citing Emirati authorities. The statement from Prime Minister Benjamin Netanyahu’s office on Sunday said Zvi Kogan was killed, calling it a “heinous antisemitic terror incident.” It said: “The state of Israel will act with all means to seek justice with the criminals responsible for his death." Kogan went missing on Thursday, and there were suspicions he had been kidnapped. His disappearance comes as Iran has been threatening to retaliate against Israel after the two countries traded fire in October. Israeli strike kills Lebanese soldier and wounds 18 as Hezbollah fires rockets at Israel BEIRUT (AP) — An Israeli strike on a Lebanese army center has killed one soldier and wounded 18 others. The Hezbollah militant group meanwhile fired around 160 rockets and other projectiles into northern and central Israel on Sunday, wounding at least five people. Israeli strikes have killed over 40 Lebanese troops since the start of the war between Israel and Hezbollah, even as Lebanon's military has largely kept to the sidelines. The Israeli military expressed regret over the strike, saying it occurred in an area of ongoing combat operations against Hezbollah. It said it does not target the Lebanese armed forces and that the strike is under review. The rising price of paying the national debt is a risk for Trump's promises on growth and inflation WASHINGTON (AP) — Donald Trump has big plans for the economy. He also has big debt problem that'll be a hurdle to delivering on those plan. Trump has bold ambitions on tax cuts, tariffs and other programs. But high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do. The federal debt stands at roughly $36 trillion, and the spike in inflation after the pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security. After Trump's Project 2025 denials, he is tapping its authors and influencers for key roles WASHINGTON (AP) — During the campaign, President-elect Donald Trump had hailed what would become Project 2025 as a conservative roadmap for “exactly what our movement will do." Trump pulled an about-face when Project 2025 became a political liability. He denied knowing anything about the “ridiculous and abysmal” plans, even though some were written by his former aides and many allies. Now, after winning the 2024 election, Trump is stocking his second administration with key players in the effort he temporarily shunned. Trump has tapped Russell Vought for an encore as director of the Office of Management and Budget; Tom Homan, his former immigration chief, as “border czar;” and immigration hardliner Stephen Miller as deputy chief of policy. Forecasts warn of possible winter storms across US during Thanksgiving week WINDSOR, Calif. (AP) — Forecasters in the U.S. have warned of another round of winter weather that could complicate travel leading up to Thanksgiving. California is bracing for more snow and rain this weekend while still grappling with some flooding and small landslides from a previous storm. The National Weather Service has issued a winter storm warning for California's Sierra Nevada through Tuesday, with heavy snow expected at high elevations. Thousands remained without power in the Seattle area on Saturday after a “bomb cyclone” storm system hit the West Coast earlier in the week, killing two people. Parts of the Northeast and Appalachia also began the weekend with heavy precipitation. Pakistan partially stops mobile and internet services ahead of pro-Imran Khan protest ISLAMABAD (AP) — Pakistan has suspended mobile and internet services “in areas with security concerns” as supporters of imprisoned former premier Imran Khan gear up for a protest in the capital. The government and Interior Ministry made the announcement on X, which is banned in Pakistan. Sunday's protest is to demand Khan's release. He has been in prison for more than a year but remains popular. His supporters rely heavily on social media and messaging apps to coordinate with each other. Pakistan has already sealed off Islamabad and shut down major roads and highways connecting the city with Khan's power bases. Here's what to know about the new funding deal that countries agreed to at UN climate talks BAKU, Azerbaijan (AP) — In the wee hours Sunday at the United Nations climate talks, countries from around the world reached an agreement on how rich countries can cough up the funds to support poor countries in the face of climate change. But it’s a far-from-perfect arrangement, with many parties still unsatisfied but hopeful that the deal will be a step in the right direction. Japan holds Sado mines memorial despite South Korean boycott amid lingering historical tensions SADO, Japan (AP) — Japan has held a memorial ceremony near the Sado Island Gold Mines despite a last-minute boycott of the event by South Korea that highlighted tensions between the neighbors over the issue of Korean forced laborers at the site before and during World War II. South Korea’s absence at Sunday’s memorial, to which Seoul government officials and Korean victims’ families were invited, is a major setback in the rapidly improving ties between the two countries, which since last year have set aside their historical disputes to prioritize U.S.-led security cooperation. Chuck Woolery, smooth-talking game show host of 'Love Connection' and 'Scrabble,' dies at 83 NEW YORK (AP) — Chuck Woolery, the affable, smooth-talking game show host of “Wheel of Fortune,” “Love Connection” and “Scrabble” who later became a right-wing podcaster, skewering liberals and accusing the government of lying about COVID-19, has died. He was 83. Mark Young, Woolery’s podcast co-host and friend, said in an email early Sunday that Woolery died at his home in Texas with his wife, Kristen, present. Woolery, with his matinee idol looks, coiffed hair and ease with witty banter, was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978. He teamed up with Young for the podcast “Blunt Force Truth” and became a full supporter Donald Trump.
The Irving Law Firm Expands Legal Services In Arlington, VA 12-24-2024 05:24 PM CET | Politics, Law & Society Press release from: ABNewswire The Irving Law Firm is expanding its presence in Arlington by offering a wide range of legal services tailored to meet community needs. With a focus on Divorce, Family Law, Criminal Defense, Adoption, Personal Injury, Business Formation, and Estate Planning, the firm ensures that clients receive comprehensive support throughout their legal journeys. Arlington, VA - The Irving Law Firm strengthens its commitment to the community through the expansion of its comprehensive legal services in Arlington, Virginia. With a focus on Divorce, Family Law, Criminal Law, Adoption, Personal Injury, Business Formation, and Estate Planning, the firm provides tailored legal support to meet the community's diverse needs. The Irving Law Firm has established itself as a reliable resource for individuals and families navigating complex legal matters. 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Owner/Spokesperson: John Irving Address: 2311 Wilson Blvd 3rd Floor, Arlington, VA 22201 Phone Number: (703) 382-6699 Website: https://www.theirvinglawfirm.com/locations/arlington-va Media Contact Company Name: The Irving Law Firm Contact Person: John Irving Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=the-irving-law-firm-expands-legal-services-in-arlington-va ] Phone: (703) 382-6699 Address:2311 Wilson Blvd 3rd Floor City: Arlington State: VA 22201 Country: United States Website: https://www.theirvinglawfirm.com/locations/arlington-va This release was published on openPR.These Black Friday TV deals are still going strong
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NoneGiants topple Colts 45-33 to eliminate Indy from the playoff raceJapanese companies are ramping up policies and protections against a rise in rude and abusive customer behaviour, with Narita International Airport becoming the first in the country to adopt a strict zero-tolerance policy. The new rule, which includes measures against verbal abuse, threats, and discrimination, reflects growing concerns in Japan’s service sector, where staff face more frequent confrontations from frustrated customers. Other businesses and even local governments are taking action. Last month, the Tokyo Metropolitan Government passed an ordinance aimed at safeguarding service industry workers from rising levels of abuse and harassment. A survey by the UA Zensen Union showed that nearly 47% of service workers in Japan had experienced some form of harassment from customers over the past two years, with some requiring counselling to cope. A new airport employee described how common these incidents are becoming, citing a recent case where a passenger reacted aggressively over excess baggage fees. “He was banging on the counter and yelling, refusing to pay,” she said. Airlines like All Nippon Airways and Japan Airlines have also announced new guidelines that explicitly ban abusive language, threats, and unreasonable demands on their staff. Other companies are turning to technology to help their workers handle customer outbursts. Telecommunications giant Softbank, for instance, has created an AI-powered tool to alter the voices of angry callers, making them sound calm on the line. Many convenience stores have introduced staff training and signs warning that misbehaviour will not be tolerated. While Japan is known for high standards of customer service, Roy Larke, a retail expert, explains that those standards also set high expectations for customer decorum. “This breakdown of norms can be shocking, as both staff and customers expect polite interactions,” he said. Morinosuke Kawaguchi, a technology analyst, suggests that the increase in recorded incidents on social media makes the trend appear more widespread than it may be, though some companies say aggression is clearly growing.
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market. CHECK OUT: Learn at Your Own Pace! Our Flexible Online Course allows you to fit copywriting skills development around your busy schedule. Enroll Now! 2024 was a transformative year for Nigeria’s banking industry , marked by significant regulatory shifts, technological advancements, operational adjustments and shifting customer preferences. Stakeholders, including the Central Bank of Nigeria, the banks, and customers, have all played major roles in directing the sector's evolution in the year under review. Here’s a rundown of the top trends that shaped the sector in 2024. 1. CBN increases capital base for banks In a bid to strengthen the banking sector, the CBN mandated an increase in the minimum capital requirement . This move aims to bolster resilience against economic shocks and align Nigeria’s banks with global standards. PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! According to the CBN, commercial banks with international licenses must now have a minimum capital base of N500 billion, while those with national and regional licenses are set at N200 billion and N50 billion, respectively. Read also African country cancels charges on ATM cards, other debit cards to boost digital transactions Additionally, the minimum capital for merchant banks with national licenses has been increased to N50 billion. For non-interest banks, the new capital thresholds are N20 billion for national licenses and N10 billion for regional licenses. 2. Cash scarcity in ATMs and over-the-counter Persistent cash shortages became a major concern in 2024, leaving many Nigerians frustrated. Long queues and limited cash availability in ATMs and over-the-counter transactions highlighted infrastructure and liquidity challenges within the banking system. 3. Nigerian banks adjust withdrawal limits Amid cash scarcity, Nigerian banks revised withdrawal limits , particularly for ATMs and counters. The adjustments were designed to manage cash flow but faced criticism for inconveniencing customers, especially in rural areas with limited electronic banking options. 4. CBN takes over management of dormant accounts The CBN announced a takeover of dormant accounts, channelling unclaimed funds into a trust fund. This policy is intended to enhance financial inclusion while addressing the issue of idle funds in the banking system. Read also Finally, MTN, Airtel, others set to increase call, data tariffs in early 2025 5. CBN releases phone numbers to report banks The CBN launched dedicated hotlines for customers to report cash shortages at ATMs. The directive requires banks to facilitate effective cash distribution through both over-the-counter (OTC) transactions and ATMs, with the goal of addressing Nigeria's ongoing currency circulation challenges. This initiative aims to ensure banks comply with cash allocation regulations and improve customer satisfaction. 6. CBN increases interest rates multiple times In response to inflationary pressures, the CBN's Monetary Policy Committee (MPC) raised interest rates multiple times throughout the year. At the beginning of 2024, the interest rate, otherwise known as the Monetary Policy Rate (MPR) stood at 18.75%, but by November 2024, the CBN had hiked it to 27.50%. While this policy sought to stabilize the naira and curb inflation, it also increased borrowing costs for businesses and consumers. 7. Banks introduce Electronic Transfer Money Levy Read also World Bank removes several loan fees for Nigeria and other poor countries Nigerian banks implemented an Electronic Money Transfer Levy (EMTL), sparking debates over additional costs for digital transactions. The EMTL is a one-time charge of N50 applied to electronic receipts or transfers of funds amounting to N10,000 or more in any financial institution or deposit bank. This levy, established through the 2020 Finance Act, amended the Stamp Duty Act to generate additional government revenue by leveraging the increase in electronic fund transfers within the country. Despite concerns about financial exclusion, the levy is projected to generate significant revenue for the government. 8. CBN Introduces Electronic Foreign Exchange Matching System The CBN introduced the Electronic Foreign Exchange Matching System (EFEMS) for conducting foreign exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM). The EFEMS will streamline foreign exchange transactions in the Nigerian foreign exchange market and ensure all foreign exchange transactions by authorized dealers are conducted exclusively through the CBN-approved platform Read also CBN opens whistleblower website to report financial misconduct, promises professionalism The purpose is to ensure transparent, fair, and efficient FX trading, minimizing counterparty risk and ensuring compliance with CBN regulations. 9. Revocation of Heritage Bank Plc’s license Heritage Bank Plc’s license revocation shocked the sector. The CBN cited insolvency and regulatory non-compliance, underscoring its commitment to ensuring a stable banking environment and safeguarding depositors’ funds. The apex bank subsequently appointed the Nigeria Deposit Insurance Corporation (NDIC) as the bank's liquidator. Exercising its statutory powers as the liquidator of failed banks, the commission announced the commencement of the sale of landed properties belonging to the failed bank. 10. Unity and Providus banks to merge In a landmark deal, the CBN approved the merger of Unity Bank and Providus Bank. The consolidation aims to create a stronger institution capable of delivering enhanced services and expanding financial inclusion. Looking ahead to 2025 Read also MTN, Airtel, Glo, other telcos Warn of service disruption over N250 billion debt by banks These developments collectively signal a year of significant changes for Nigerian banking, with a strong emphasis on stability, innovation, and customer-centric policies. As Nigeria’s banking sector evolves, the changes of 2024 set the stage for a more robust and inclusive financial system. The lessons learned this year will likely shape future policies, ensuring the industry remains adaptable, competitive, and focused on meeting the needs of a dynamic economy . CBN confirms validity of old, new naira notes Meanwhile, Legit.ng reported that the CBN has dismissed reports claiming that the old series of N200, N500, and N1,000 banknotes will no longer be accepted as legal tender by December 31, 2024. The apex bank stated that such claims are false and calculated to disrupt the country’s payment system. The bank directed all banks to continue to issue and accept all denominations of Nigerian banknotes, whether old or re-designed. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ng
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