CBN spends N58.6bn to print 2.52bn Naira notes The Central Bank of Nigeria spent the sum of N58.6 billion to print 2.52 billion Naira notes valued at N1.1 trillion in 2020. Disclosing these yesterday in its Annual Currency Operations report for 2020, the apex bank also said it utilized $1.83 billion within the same year … [Read more…]
Angry Igbo youths, yesterday, accused the Federal Government of deliberately arresting successful Igbo sons for selfish and political motives. Their anger followed the recent arrest of Igbo billionaire entertainer, Obinna Iyiegbu, popularly known as Obi Cubana, by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged money laundering and tax evasion. … [Read more…]
The total amount of money owed to the Chinese government by the Federal Government as at March last year rose to $3. 121 billion (N1,126.68 trillion at USD/N361). The amount represents only 3.94 per cent of Nigeria’s total public debt of $79.21 billion as at September 2021. Similarly, in terms of external sources … [Read more…]
THE All Progressives Congress, APC, Federal Government must accept the blame for the fact that after six years in power, we are still deeply mired in our intractable petrol subsidy regime. As the leader of the then opposition party, Muhammadu Buhari had intensely argued that there was no fuel subsidy; that the subsidy … [Read more…]
Governor AbdulRahman AbdulRazaq hardly grants interviews. In this rare chat with a select group of journalists, he speaks on the challenges of governing Kwara, how insecurity in North-West and ban of open-grazing in Southern Nigeria is affecting Kwara, his problem with Senator Bukola Saraki; and relations with Minister of Information and Culture, Alhaji Lai Mohammed, … [Read more…]
Socio–Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over his failure to probe allegations that over 880 billion of public funds are missing from 367 ministries, departments and agencies (MDAs), to ensure the prosecution of those suspected to be responsible, and the recovery of any missing or diverted public … [Read more…]
In its bid to reverse the nation’s over-reliance in imports by creating a platform that supports right companies and projects with potential to immediately transform and jumpstart the productive base of the economy, the Central Bank of Nigeria (CBN) has unveiled the criteria for participating in its 100 for 100 policy on Production and Productivity … [Read more…]
The Central Bank of Nigeria has said its newly launched e-Naira project is secure and dependable. The Director of Corporate Communications, Mr Osita Nwanisobi, stated this while speaking at the ongoing CBN-Fair in Abakaliki on Thursday. According to the apex bank, the security and dependability of the e-Naira stem from the fact … [Read more…]
The Senate Committee on Local and Foreign Loans on Tuesday kicked against the proposal by the Federal Ministry of Health to borrow $200m under the Malaria Programme to buy mosquito nets in the 2022 budget. The committee’s condemnation was in response to the Ministry of Health’s submission about its intention to borrow the … [Read more…]
President Muhammadu Buhari has expressed hope that the recently launched eNaira would buoy and reposition Nigeria’s economy to attract investors. He also said the Treasury Single Account (TSA), Bank Verification Number (BVN), and National Identification Number (NIN) initiatives have reinforced his administration’s efforts in tackling corruption. Speaking at the fifth edition of … [Read more…]
Enugu State Government Committed to Youth Development and Sustainable Growth- Dr. Ugwunta It is said that the youths of a nation are the trustees of posterity; and their power the common wealth for the entire world. Thus the Enugu state government under the leadership of His Excellency Rt. Hon. Dr. Ifeanyi Ugwuanyi has been working … [Read more…]
The South-East Shippers Association has protested the constant suspension of activities at Onitsha River Port in Anambra State. The group said that Onitsha port is a natural deposit which Nigeria should focus on the revenue it generates rather than politics of ethnicity. The President of Anambra State Shippers Association, Mr. Emma Akpaka, … [Read more…]