THE usual hustle and bustle of the recently-concluded Yuletide season came with the harsh reality of the shortage of cash in Nigerian banks. This was evidenced by the unusually long queues at the ATMs with many of them not being functional, as well as the inundation of banks by customers who require cash … [Read more…]
Banks’ borrowings from the Central Bank of Nigeria, CBN, rose by 233 per cent, year-on-year, to N26.9 trillion in 2021 reflecting increased reliance on the apex bank to cope with the intense scarcity of funds which prevailed in the interbank money market for most part of last year. The CBN has two short … [Read more…]
Governor Samuel Ortom of Benue state has said N1billion has been earmarked for the payment of gratuity of workers in the state from the loan facility being extended to states by the federal government. He said he had also directed his Finance Commissioner as well as Accountant General of the state to ensure … [Read more…]
Nigeria Labour Congress (NLC) had after its organs’ meetings recently threatened to shut down activities nationwide should the Federal Government increase the pump price of petrol in 2022. Secretary General of the Association of Senior Civil Servant of Nigeria (ASCSN), Bashir Alade Lawal, in an interview with Daily Sun, yesterday, vowed that the threat by … [Read more…]
The plan, which was approved by the Federal Executive Council earlier in November, was launched, yesterday, at the State House in Abuja. Prior to the public presentation of the official document, the Minister of Finance, Budget, and National Planning, Zainab Ahmed disclosed that the new document replaces the Economic Recovery and Growth Programme … [Read more…]
Six power plants under the management of the Niger Delta Power Holding Company have stopped operations due to a breach in the supply of gas to the facilities. A letter from the NDPHC to the Managing Director of the Nigerian Bulk Electricity Trading Plc stated that the breach was reported by the Nigeria Gas Company, … [Read more…]
The Federal Executive Council meeting has approved N65.39bn in foreign and local denominations to execute power projects in the country. The Minister of Power, Abubakar Aliyu, disclosed this to State House Correspondents on Thursday at the end of an extraordinary meeting of FEC presided over by Vice President Yemi Osinbajo at the Presidential … [Read more…]
Bolt, Uber drivers earning up to N120,000 weekly, need to be taxed: Reps The House said these companies benefit “from facilities of the Federal Government such as road and security network which grants them ease of doing business.” The House of Representatives has resolved to setup a committee to investigate whether operators of internet-based ride … [Read more…]
Use of common seal by companies no longer mandatory – CAC boss The Registrar-General, Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, has said the use of common seal by companies is no longer mandatory. Abubakar said this in statement issued on Thursday in Abuja, signed by Mr Rasheed Mahe, CAC’s Media Head, after declaring open … [Read more…]
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said, yesterday, the review of the 2021 budget has led to discovery of 257 duplicated projects worth N20.138 billion. Chairman of ICPC, Prof. Bolaji Owasanoye, made the disclosure at the third national summit on Diminishing Corruption in Public Sector, with the theme: Corruption and … [Read more…]
Emeritus Archbishop of Abuja, Cardinal John Onaiyekan, has called on the Federal Government to tackle the menace of abandoned street children in order to end the country’s security problems. Onaiyekan made the call in Abuja yesterday while speaking at the premiere of ‘’The Oratory’’, a movie raising awareness on the plight of street … [Read more…]
The President, Nigeria LPG Association, Mr. Nuhu Yakubu, said the association had been engaging with relevant agencies, with a view to addressing the issues. Speaking at the just-concluded 11th International Conference and Exhibition in Lagos, he said: “As an association, we are currently engaging with respective government agencies in addressing issues around … [Read more…]