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The Federal Government has recorded a N4.45 trillion deficit spending in ten months. The deficit which climbed by 17 per cent, year-on-year (y/y), against N3.8 trillion recorded in the corresponding period of 2019. The sharp increase in deficit was driven by the decline in revenue which worsened in October, falling by 6.5 per … [Read more…]
The Standards Organisation of Nigeria (SON) yesterday, destroyed substandard LPG cylinders and tyres worth about N300 million, noting that these goods failed the minimum requirement. The Director General of the organisation, Mallam Farouk Salim, at the destruction exercise in Lagos, said the goods destroyed were classified as life-endangering and unfit for use. Salim, … [Read more…]
The Lagos Zonal Office of the Economic and Financial Crimes Commission has arrested 16 suspects in the Lekki area of the state for alleged Internet fraud. Some of the suspects are Habeeb Adebayo, Marcus Wisdom, Caleb Ezekiel, Akinduro Henry, Osarobo Osasere, and Oyelami Olatunji. Others are Pelumi Glory, Ehibor Joseph, Emmanuel Timileyin, Jefta … [Read more…]
History made as Buhari appoints Nigeria’s first female ambassador to U.S. Mrs Emenike was among the 52 non-career and 43 career ambassadors whose deployment was recently approved by Mr Buhari In a history making week when Kamala Harris was sworn in as the first-ever African American and Asian American female Vice President of … [Read more…]
THE Ebonyi State Police Commissioner, Aliyu Garba, yesterday, arrested the Chairman of Ohaukwu Local Government Area of the state, Clement Odah; the lawmaker representing Ohaukwu North State Constituency, Chinedu, his former Chief Press Secretary, CPS, and the current Special Assistant to the Governor on Market Development, Chief Emmanuel Uzor; and others over the recent … [Read more…]
The Federal Government is to partly fund six rail projects connecting virtually all regions of the country with a counterpart funding of N71.15bn this year. Also, N15.1bn will be spent on the development of safety and security critical projects, airport certification, runway construction, terminal building, among others in the aviation sector in 2021. A report … [Read more…]
Fondly called, ‘Gatuso, he was reported to have gone to the hotel at a time the gunmen that just robbed the hotel were leaving. It was learnt that he was making a call as he entered the hotel’s premises and that the gunmen shot him in the stomach at a close range, probably thinking … [Read more…]
Vice-President Yemi Osinbajo has expressed worry over a survey report that highlights persistent corruption, duplicity of functions, poor service orientation and other anti-business disposition in some of the Federal Government’s regulatory agencies. Osinbajo and the Presidential Enabling Business Environment Council therefore resolved to make the report available to … [Read more…]
Goods traded by Nigeria with other West African countries have been ranked as the least among the country’s global trade partners. Figures obtained from the National Bureau of Statistics’ foreign trade statistics for the third quarter of 2020 revealed that trade with Asian countries topped the list of Nigerian trade partners. Part of the … [Read more…]
Commander, Mr. Buba Wakawa, said 180 were males while 82 were females. He said 10 vehicles used in smuggling illicit drugs were equally impounded within the period under review, adding that 15 cannabis plantations measuring 11.82 hectares were identified and destroyed. Wakama noted that 86 drug-dependent persons were successfully counselled and reunited with … [Read more…]
Three senior lawyers and groups, including Afenifere and the Yoruba Council of Elders, on Wednesday, criticised the Presidency over its stand on the Ondo State Government’s ultimatum to herdsmen in the state’s forest reserves. But the Northern Elders’ Forum directed the Fulani herdsmen to disregard the notice to quit forest reserves in the state. Also … [Read more…]
Part of the report read, “Sustained use of direct monetary financing could raise risks to macroeconomic stability – given the current weak institutional safeguards – but we expect the FGN to reduce its use of the facility in 2021. “The FGN directly borrowed 1.9 per cent of GDP from the CBN to fund its … [Read more…]