The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators. This is as the apex bank also assured the public that it has enough volume of banknotes to go around even in the approaching festive period, calling off allegations of cash in the … [Read more…]
The Senate has approved the N2.17 trillion supplementary budget for the 2023 fiscal year, as proposed by President Bola Tinubu. The Senate President, Godswill Akpabio, announced the approval after majority of the senators supported it through a voice vote at plenary on Thursday. The supplementary budget was earlier considered by members of the Committee on … [Read more…]
The Nigerian National Petroleum Company Limited (NNPC) will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six million barrels of crude oil in December, to be used in test runs, three industry sources with knowledge of the matter, have told Reuters. There have been some concerns in recent times, about the capacity … [Read more…]
The High Court of Justice in the Federal Capital Territory (FCT) has ordered the unconditional and immediate release of the immediate-past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The court made the order after Emefiele filed a Motion Ex-parte, seeking his release from the custody of the Economic and Financial Crimes Commission … [Read more…]
The Enugu State governor, Dr. Peter Mbah, has approved the immediate release of sixty million naira counterpart fund for the World Bank-assisted Livestock Productivity and Resilience Support Project (L-PRES) to boost productivity in the state. This was even as the State Project Coordinator, Dr. Ifeyinwa Nnajieze, commended the governor’s determination to grow the state’s economy … [Read more…]
The Economic and Financial Crimes Commission, EFCC, has reviewed its guidelines on arrest, bail and processing of suspects. The review, which is premised on the need to adhere to the rule of law and international best practices in the treatment of suspects, was rolled out on Monday, October 31, 2023 across all its Commands. In … [Read more…]
The Imo state government stated that they have no hand in Ajaero’s arrest. The alleged abduction and brutalisation of President of the Nigeria Labour Congress (NLC), Joe Ajaero, yesterday, has continued to generate reactions, as the Imo State Police Command, NLC, and the Trade Union Congress (TUC) traded words. However, NLC revealed yesterday that Ajaero … [Read more…]
President Bola Tinubu has sought the Senate’s approval of the 2022-2024 external borrowing plan to enable expeditious project implementation. This is coming barely 24 hours after Tinubu requested the approval of the N2.18 trillion Supplementary budget. The request was contained in a letter read during the plenary by the Senate President, Godswill Akpabio, on Wednesday. … [Read more…]
The Senate will on Thursday, pass the N2.18 trillion 2023 Supplementary Appropriation Bill forwarded to it for consideration by President Bola Tinubu. As requested by Tinubu in the letter read in the Senate during plenary on Tuesday, the request was given expeditious consideration. The budgetary proposals made in the bill were debated, passed for a … [Read more…]
The Minister of Works, Dave Umahi, on Wednesday, said N18.6trn is required to address the road sector in the next four years. The minister made this known during the budget defence for a total supplementary budget of N2.1trn before the House of Representatives Committee on Appropriations chaired by Abubakar Bichi. The minister, who is also … [Read more…]
The Chairman of the Independent National Electoral Commission (INEC), Mahmood Yakubu, on Wednesday, defended the N18bn contained in the proposed supplementary budget for the commission when he appeared before the House of Representatives Committee on Appropriations. The INEC chairman was among the guests who appeared before the committee. He explained that the N18bn in the … [Read more…]
EFCC PRESS STATEMENT In line with the newly-reviewed procedures on arrest and bail of suspects by the Economic and Financial Crimes Commission, EFCC, the Executive Chairman of the Commission, Mr. Ola Olukoyede has directed that sting operations at night time be stopped in all the Commands of the EFCC. He gave the directive in Abuja … [Read more…]