The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said this in its ‘Resilience through Reforms’ report. According to the report, the power sector in Nigeria will cost the Federal Government […]Read More
The Central Bank of Nigeria (CBN) plans to introduce digital currency before the end of the year, its Director Information Technology, Rakiya Mohammed, said on Thursday. Speaking at the end of 306th Bankers’ Committee Meeting, she said the currency will be accessible to all Nigerians. Admitting the risks associated with the proposed digital currency, the […]Read More
President Muhammadu Buharii on Thursday, flagged off the Integrated National Security and Waterways Protection Infrastructure also known as the Deep Blue Project anchored by the Nigerian Maritime Administration and Safety Agency (NIMASA). The well attended event took place in Apapa, Lagos. President Buhari inaugurated the $195 million project after commissioning the Lagos-Ibadan rail project, also in Lagos. […]Read More
The members of the House of Representatives have mandated its committee on Finance and Agriculture to investigate the Federal Government’s disbursements of agricultural loans and credit facilities to farmers from 2009 to date. The lawmakers observed that since 2009, 275 billion Naira was said to have been disbursed to farmers yet the country cannot boast […]Read More
The Federal Government through the Pension Transitional Arrangement Directorate, PTAD, has begun the payment of the consequential adjustment to pensioners under the Defined Benefit Scheme, DBS. The Executive Secretary of PTAD, Chioma Ejikeme, disclosed this development through a statement by the Directorate’s Head of Corporate Communications, Mr Gbenga Ajayi, informing that the payment was in […]Read More
THE Federal Executive Council, FEC, Wednesday approved the draft 2021 supplementary budget of N895,842,462,917. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the Council meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja. The Minister explained that the […]Read More
The government has been reluctant to introduce a law that could ban cryptocurrencies Global digital currency exchanges are exploring ways to settle in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the New Delhi government is reluctant to introduce a law that could ban cryptocurrencies. Opponents of the potential […]Read More
The Federal Airports Authority of Nigeria says it has unveiled bird equipment, also known as wildlife management equipment, at its headquarters annex. FAAN said it inaugurated the equipment in its Lagos officer in a bid to improve safety flight operations and manage bird hazards at the nation’s airports. According to a statement issued by the […]Read More
Ten stockbroking firms have traded stocks worth N491.482 billion in the first five months of the year, according to data from the broker performance report by the Nigerian Exchange Limited (NGX). Between January 1 and May 31, 2021, the top 10 stockbrokers on the exchange traded 52.46 per cent of the total value of shares […]Read More
Nigerian banks have indicated they will commence deduction of a flat fee of N6.58 for every banking transaction carried out on all Unstructured Supplementary Service Data (USSD) banking platforms. In several circulars obtained yesterday, banks stated that customers are required to pay a fee of N6.98 to their mobile network provider for every USSD transaction. […]Read More
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