NDDC Audit: We’ll Recover Every Missing Fund, Culpable Person’ll Face Law, Buhari Vows
President Muhammadu Buhari Thursday in Abuja said the concluded forensic audit of the Niger Delta Development Commission (NDDC) was being reviewed, with a view to recovering every kobo that is recoverable, while those found culpable will face the law. Speaking at the virtual commissioning of the NDDC Prototype Hostel at the University of Uyo, Akwa Ibom State, the President in...
CBN denies prohibition on domiciliary accounts deposits
The Central Bank of Nigeria, CBN has said that it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks. In a statement on Sunday, the Director, Corporate Communications, CBN, Isaac Okorafor, clarified the uncertainties surrounding the operations of domiciliary accounts in Nigeria. He said, “The bank has not prohibited the acceptance of foreign currency cash deposits...
Post-COVID-19: Obi Suggests Measures For Lifting Nigerians Out Of Poverty
Vice-presidential candidate of the Peoples Democratic Party (PDP), Mr Peter Obi, has suggested what he described as a pathway to national economic recovery, capable of lifting millions of Nigerians out of poverty. Obi, who spoke on a live television programme monitored in Lagos, explained that conscious investment in education, health and MSMEs (Micro, Small and Medium Enterprises) were what every...
Sokoto Lawmaker Rolls Out Animal Feed As Constituency Empowerment Material
A member of the Sokoto State House of Assembly, Honourable Buhari Haliru (PDP-Sokoto North I), on Thursday empowered no fewer than 200 constituents with animal feeds to become self-reliant. Haliru, while flagging-up the distribution at his constituency office, said that the aim is to engage the beneficiaries into small businesses in order to support their living standard. “We are confident that...
President Buhari Seeks Fresh $5.513bn Loan
The President, Muhammadu Buhari, has written to the House of Representatives to request for the approval of fresh external borrowings totalling $5.513bn. Buhari, in the letter read by Speaker of the House of Representatives, Femi Gbajabiamila, at the plenary on Thursday, said the funds were for 2020 budget deficit, financing of critical projects, and some states of the federation. The President...
Bailey Bridge Ohafia Shuts Down Midnight Monday For Maintenance
Member representing Arochukwu/Ohafia federal constituency, Hon. Uko Nkole has announced the closure of Bailey bridge located along Ohafia -ABAM for maintenance starting from midnight of today monday 01/03/2021. This is contained in a statement issued by Ibem Onwuka, Media Assistant to the House of Representatives member. This is to enable the authorities carry out a repair work on the collapsed bridge. All...
Nigerians Should Accept Increase In Fuel Price – Minister
The Federal Government has insisted that Nigerians should brace up for an increment in the pump price of petrol, in the light of the current economic situation in the country. The minister said, “It is very unfortunate that if (there is) an increment in fuel pump price, (it) would have an impact on the marketplace and we are not happy...
We Are NOT Broke – NNPC
The Nigerian National Petroleum Corporation, NNPC says the zero revenue projection for May pertains only to the federation revenue stream it manages and not a reflection of its overall financial performance. Kennie Obateru, the group general manager of NNPC public affairs division, disclosed this in a statement on Friday. “The shortfall will be remedied by the corporation as it relates only...
Ministry Of Mines Seeks Partnership With SEC On Exploration Of Mineral Resources
As part of efforts to develop and grow the sector and use it as an alternative source of revenue generation for the country, the Ministry of Mines and Steel Development is collaborating with the Security and Exchange Commission (SEC) for funds mobilization to boost exploration in the sector. Minister of State Mines and Steel Development Dr. Uchechukwu Sampson Ogah made...
“It’s Foolishness To Keep Borrowing” – Obasanjo Blasts Buhari
Former President, Olusegun Obasanjo has fired the Muhammadu Buhari administration over its continuous borrowing to fund recurrent expenditure. Obasanjo, in a recent interview with Channels TV, said that it was ‘foolishness’ to keep borrowing and creating debt for the future generation. “If you want to build a commercial house and you go and borrow money, and you have 50 per cent...
