The Central Bank of Nigeria (CBN) has said that about N5.3 trillion out of N9.3 trillion lent out under its intervention funds portfolio is not yet due for repayment. The apex regulator also said for now it has closed gates for the intervention funds, adding that as at Tuesday N3.7 trillion has been repaid under intervention funds. Addressing financial journalists Read More
The Federal Government has revealed how it it intends to fund its budget deficit this year. Patience Oniha, Debt Management Office (DMO) said, government intend to roll out an FGN Bond in the first quarter of 2022. FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on Read More
The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs from all 54 African countries, has selected 4,949 entrepreneurs from across Africa for its 2021 Entrepreneurship Programme. The 2021 beneficiaries were selected from a pool of over 400,000 applications, based on their innovation, performance, and growth potential to create jobs and eradicate poverty on the continent. Consisting of both Read More
The Training and Doctrine Command of the Nigerian Army (TRADOC), has pleaded with the House of Representatives to increase its budget fro was contained in the 2022 Appropriation Bill. Commandant of the training institution, Major General Stevenson Olugbenga, explained to the House Committee on Army, Thursday that while a proposal of N43.3 billion was made, the Federal Ministry of Finance, Read More
Christian Elders Forum of Northern States (NOSCEF) has tasked the President Muhammdu Buhari-led federal government to match words with actions by doing away with every nepotic tendency in his administration, to enhance the country’s unity. The Forum had joined the rest of Nigerians to thank God for the country’s 61st Independence Anniversary, NOSCEF in a statement signed by its Read More
A top sports ministry official has dismissed claims that the Federal Government has abandoned the Super Eagles in their quest to qualify for the 2022 World Cup. It has emerged that the Nigeria Football Federation (NFF) have been borrowing money for the country’s campaign to feature at Qatar 2022. Sources disclosed the NFF have yet to receive any money from Read More
Nigeria’s Foreign Reserves get another boost days after the Eurobond funds hits the treasury, with additional 155,000 barrels of crude oil added to the nation’s daily production in September, report by the Organisation of Petroleum Exporting Countries (OPEC) said. With this addition, average daily production for the mont rose to 1.451 million barrel per day (mbpd). It stood at 1.296mbpd Read More
A traditional ruler in Osun state, the Ataoja of Osogbo, Oba Jimoh Olanipekun, has threatened to expose a monarch for his refusal to refund the loan he took for him. Speaking at the Freedom Park, Osogbo, during the disbursement of N6.5bn Micro, Small and Medium Enterprises Development Fund by Governor Adegboyega Oyetola. The monarch said, “I want to advise the beneficiaries not Read More
The Senate has urged the Federal Ministry of Finance to, as a matter of urgency, release adequate funds to the Federal Road Maintenance Agency (FERMA) for the purpose of carrying out emergency repairs on all federal roads in the country. This was even as the chamber called on the federal government to immediately declare a state of emergency on federal Read More
A chieftain of the ruling All Progressives Congress (APC) in Ebonyi state Chief James Aroh Nweke, has blasted Governor Nyesome Wike of River state and the Peoples Democratic Party (PDP) Caretaker Committee Chairman, Elder Fred Udeogu over their reactions on Umahi’s statement on the type of President Nigeria needs in 2023. The Rivers state governor had verbally attacked Umahi, asking Read More
Inability of the Cross River state ministry of aviation to make withdrawals from funds deposited in one of the new generation banks (name withheld) to facilitate insurance payment which is set to expire on Friday, August 27, is threatening to ground the Cross River state-owned Cally Air. Making this known in Calabar while baricading in protest entrance to the said Read More
A chieftain of the ruling All Progressives Congress (APC), in Benue state, Dr Garus Gololo, has urged the Benue state governor, Samuel Ortom, to focus on bringing the dividends of democracy to the people, rather than indulging in “endless media interview.” He also criticized the governor for distracting public attention from his administration’s failures by fishing around for imaginary enemies.Reaction Read More
The Registrar National Examinations Council (NECO), Prof Dantani Ibrahim Wushishi, Monday, lamented that the 36 state governors in Nigeria are owing NECO billions of naira in arrears. Dantani, who stated this in Jalingo while on an inspection tour to monitor the conduct of the ongoing NECO examination, explained that what the examination body generates is what is used in paying salaries of staff Read More
The All Progressives Congress (APC) has said the opposition Peoples Democratic Party (PDP) was not qualified to criticise the current administration on the worsening insecurity in Nigeria. Responding to an earlier statement released by the PDP, APC reassured Nigerians that “the security of the nation is of the highest priority to the President Muhammadu Buhari administration and this government is Read More
Following the outbreak of cholera that killed several people in Bauchi state in recent time, the state Governor Bala Mohammed, Wednesday flagged off free oral vaccination against the plague. The governor while flagging off the exercise at the Banquet Hall of Government House Bauchi, directed health authorities in the state to also treat cholera patients free of charge. He said Read More
The South-south Emerging Leaders’ Forum (SELF) has told President Muhammadu Buhari and all the Niger Delta leaders to hold former governor Seriaki Dickson responsible in case of any outbreak of violence in the Niger Delta. The forum also described as irresponsible and disgraceful the accusation made against the Minister of State for Petroleum Chief Timipre Sylva by the former governor Read More
The Senator representing Bayelsa East, Biobarakuma Wangagha Degi-Eremienyo, has warned former governor of Bayelsa state Senator Henry Seriake Dickson to stop instigating violence in the Niger Delta over the contentious Petroleum Industry Bill ((PIB). Degi-Eremienyo was reacting to a press conference by Dicskon on Thursday where where he accused the Minister of State (Petroleum resources), Chief Timipre Sylva of allegedly Read More
Before embarking on its current recess, the Senate adopted 2015 Audit Report which indicted officials of Office of Accountant General of the Federation ( AGF) on alleged loss of $274.2 million (N54.1bn) from external loan payment. This is contained in the report of Senate Committee on Public Accounts chaired by Senator Matthew Urhoghide (PDP Edo South). The Senate in its Read More
A think-tank group of the ruling All Progressives Congress (APC) under the aiges of APC Legacy Awareness and Campaign (APC-LAC) said that President Muhammadu Buhari-led administration has deployed several policies in waging war against corruption in the country. The group said contrary to the assumptions that the administration’s anti-corruption strategy is limited to arrests and prosecutions of offenders, it has Read More
The Senate has approved President Muhammadu Buhari’s request for the authourisation of N2.343 trillions! ($6.183 billion USD) as External Borrowing in the 2021 Appropriation Act. This was just as it directed the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Director General of the Debt Management Office, Patience Oniha, and the Governor of the Central Bank of Nigeria, Read More
A think-tank of the ruling All Progressives Congress (APC), under the aegis of APC Legacy Awareness and Campaign (APC-LAC), said the era of frosty relationship between President and state governors has ended under President Muhammadu Buhari. The APC group said the Buhari’s administration had rather strengthened national and sub-national governments’ relations. In a statement made available to newsmen Tuesday in Read More
The federal government has said it has refunded over N700 billion to state governments for the development of federal infrastructure across all states of the federation over the past six years. The government said this in a statement titled ‘President Buhari’s Administration at Six’ obtained from the Federal Ministry of Finance, Budget and National Planning in Abuja. According to the Read More
Members of the Kwara State House of Assembly Sunday debunked a claim by the Minister of Information and Culture, Alhaji Lai Mohammed that he funded the election of members of the ninth legislature in the state. The members said the only individual who could claim offering the members massive support during the election was governor AbdulRahman AbdulRazaq who was the Read More
Information managers of the federal government and in All Progressives Congress (APC) controlled states have demanded for strengthened legislation, strategies and action plans with consequences for media abuse and misinformation in the country. The media managers also asked for a strengthened advocacy to amplify justifications of government policies and popularise government achievements across board. The demands are contained in a Read More
GCR Ratings (“GCR”) has upgraded the national scale long term rating assigned to Stanbic IBTC Bank PLC to AA+(NG) from AA(NG) and affirmed the national scale short term rating at A1+(NG), with a Stable Outlook. The rating upgrade is underpinned by Stanbic IBTC’s sound competitive position, and resilient financial profile amidst the strains in the operating environment. Further supporting the Read More
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