Bureau de change operators in Adamawa State are rejecting foreign currencies from customers due to growing uncertainty in the parallel market. Some of the money changers interviewed at Jimeta Modern Market in Yola said they were apprehensive over the sudden and continued crash of the dollar which destabilized the parallel market. The chairman, bureau de … [Read more…]
The House of Representatives Committee on Public Accounts has summoned 63 institutions of the federal government for implementing illegal budgets, leading to expenditure of over N2 trillion without statutory approval. Chairman of the committee, Oluwole Oke, also wrote a letter to Director General, Budget Office of the Federation, Ben Akabueze, to demand evidence of appropriation … [Read more…]
The Peoples Democratic Party has said that it has every option to challenge the candidacy of the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu, including his eligibility to contest the 2023 general elections having been allegedly indicted and subjected to criminal forfeiture judgement for a narcotic related offence by a United States … [Read more…]
Data obtained from the website of the Central Bank of Nigeria on Sunday revealed that Nigeria’s educational sector suffered massive capital flight during the regime of the President, Major General Muhammadu Buhari(retd). Specifically, using the CBN’s balance of payment statistics, Nigerians have spent a hefty sum of $3.5bn on foreign education in the past seven … [Read more…]
Gunmen suspected to be armed robbers have attacked a bullion van conveying cash at Ufuma, Orumba North local government area of Anambra State. The gunmen allegedly trailed the bullion van and opened fire on the truck and security men accompanying it. An eye witness said there was heavy shooting in the area, adding that residents … [Read more…]
The Peoples Democratic Party (PDP) Presidential Candidate, Alhaji Atiku Abubakar has expressed optimism that the crisis rocking the party will be resolved before the general elections. Abubakar, who spoke in Minna on Friday shortly after about a meeting with the former military President, General Ibrahim Babangida, said the party would overcome the current disagreement with … [Read more…]
The Federal Government has filed an amended seven-count terrorism charge against the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. The amended charge marked FHC/ABJ/CR/383/2015, bothered on allegations against the IPOB leader that were earlier sustained by the trial court. The charge alleged that Kanu, who belonged to an unlawful group, had … [Read more…]
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari, has disclosed that the landing cost of Premium Motor Spirit(PMS), popularly called petrol is thrice N170 per litre. Kyari, stated this on Wednesday at the Legislative Transparency and Accountability Summit organised by the House of Representatives Committee on Anti-Corruption … [Read more…]
Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, predicted that the governing All Progressives Congress (APC) would cease to exist as a political party after losing the 2023 general election. Atiku spoke at the inauguration of the PDP Youth Campaign Council, where the party leadership cautioned members against reprisal attacks on opponents.Atiku … [Read more…]
The naira has rebounded by 20.8 per cent to 720/dollar at the parallel market, findings by The PUNCH have shown. The development came two weeks after the local currency came under severe pressure at the black market, following the announcement by the Federal Government to redesign the naira. The naira which fell consistently throughout last … [Read more…]
The High Court of the Federal Capital Territory has set aside the contempt proceedings and all the orders of conviction for contempt against the Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa. Justice Chizoba Oji set aside the proceedings on Thursday after hearing an application brought by the EFCC Chairman. The application was … [Read more…]
President Muhammadu Buhari has said there is no going back on the planned redesign of the N1,000, N500, and N200 bank notes. In an interview with the NTA after meeting his Royal Majesty, King Charles III in Buckingham Palace, on Wednesday, Buhari said politicians won’t be allowed to mobilise resources and thugs to intimidate voters … [Read more…]