All Debts Incurred By Buhari Justifiable — Fashola
The Minister of Works and Housing, Babatunde Fashola, has said that the Buhari administration has justified all its debts by constructing various infrastructures across the nation. Fashola stated this at the closing ceremony of the 28th National Council of Works meeting held in Kano on Thursday. He said the ongoing projects across the country had justified the debts, especially when compared...
Buhari Vows To Expose Big Names Behind Oil Theft
President Muhammadu Buhari has said his government would soon reveal the identities of important personalities behind oil theft in the country. Senior Special Assistant to the President on Media and Publicity, Garba Shehu who spoke on the president's behalf said that as part of efforts to rid the country’s economy from sabotage of greedy few, security operatives had raided locations...
Nigeria Now Owing World Bank $660m — Data
The total debt owed to the World Bank Group by Nigeria rose by $660m in the first six months of 2022, the Punch has learnt. This is according to data from both the Debt Management Office and the financial statements of the World Bank. According to data from the DMO, Nigeria debt to the Washington-based bank was $12.38 as of December...
Travellers Stranded As Dollar Shortage Hits Banks – Report
Nigerians are finding it increasingly difficult to access the United States dollar at the Central Bank of Nigeria’s official rate for eligible transactions. Worse affected are those travelling abroad who are experiencing delays in accessing Busines...
We’re Working Hard To Ensure Free Fall Of Naira Stops, Emefiele Vows
With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in...
Senate Summons Emefiele To Explain Uncontrolled Fall In Naira Value
The Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to explain the reasons for the rapid depreciation of the value of the naira. It has also mandated its Committee on Banking, Insurance and Other Financi...
Naira Crashes To N710 Per Dollar
The naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex. Checks by Peoples Gazette (not ABN TV) on Wednesday showed the current parallel market rate pegged at N710 to a dolla...
Buhari Should Account For $1bn Security Fund Jointly Contributed By States – Gov. Ortom
Governor Samuel Ortom of Benue State yesterday asked the Federal Government to account for the $1 billion security funds jointly contributed by the 36 states of the federation to fight insurgency giving the worsening insecurity in the country. Speaki...
Aero Contractors Suspends Scheduled Operations Indefinitely
Aero Contractors, Nigeria’s oldest airline, says it will suspend passenger flights from Wednesday, July 20. The airline, in a statement on Monday, said the suspension is temporary but did not indicate when it will resume operations. In May, Aero h...
Tinubu Can’t Make Dollar, Naira Value Equivalent — Former Minister
A former Minister of Lands, Housing and Urban Development, Chief Nduese Essien has faulted the claim by the Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu that he would bring the naira at par with the dollar ...
