BUSINESS
El-Rufai Accuses Emefiele Of Introducing Naira Redesign To Help PDP Win Presidential Election
Governor Nasir El-Rufai of Kaduna State on Friday alleged that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele introduced the naira redesign policy to help the Peoples Democratic Party (PDP) win the 2023 general elections. “Emefiele was appointed Central Bank Governor by the PDP originally. So, let’s not forget where he came from,” El-Rufai said at a...
Lagos Releases 20,000 Bags Of Eko Rice, Tags 50kg At N43k, 25kg For N22k
Lagos State Government has concluded plans to release additional 20,000 bags of Eko Rice for distribution to various designated markets for the period of Yuletide in the month of December. The state government, while saying that 20, 000 bags had earlier been released in the month of November, added that the number represent 10 per cent of total requirement of...
How Senate Confirmed Cardoso As CBN Governor, 4 Deputies
The Senate has confirmed the appointment of Yemi Cardoso as the Central Bank of Nigeria (CBN) governor and four others as deputy governors of the apex bank. They were confirmed on Tuesday following a screening by the upper legislative body. The deputy governors who were confirmed are Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello. “The nomination of...
WTO Won’t Harm Nigeria’s Economic Diversification, Okonjo-Iweala Tells Buhari
The Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has allayed fears that embracing the free trade policy of the world body would harm Nigeria’s economic diversification drive. Fielding questions after a meeting with President Muhammadu Buhari at the presidential villa, Abuja on Monday, she affirmed that special and differential treatment could be applied to prevent vulnerable countries...
Tinubu Orders Payment Of Electricity Bill Owed By Aso Villa
President Bola Tinubu has ordered the payment of Aso Rock’s electricity bill to avoid disconnection in the nation’s seat of power. In an advertorial titled ‘Notice of disconnection’ published on Monday, the Abuja Electricity Distribution Company (AEDC) said the presidential villa owes an electricity bill of N923.87 million. It issued a 10-day notice to the presidential villa and 86 government ministries,...
Nigeria’s Debt May Hit N77tn, Says DMO As FG Spends N5.2tn On Debt Serving In 2022
Nigeria’s public debt burden may hit N77tn if the National Assembly approves the request by the President, Major General Muhammadu Buhari (retd.), to restructure the Ways and Means Advances. Thee Ways and Means Advances is a loan facility through which the Central Bank of Nigeria finances the shortfalls in the government’s budget. This is as the Federal Government spent N5.24tn servicing...
Shettima Urges African Leaders To Ramp up 3% of continent’s global GDP
Vice President Kashim Shettima, has implored African leaders to work towards ramping up the total $3.1 trillion Gross Domestic Product (GDP) of countries on the continent, amounting to a paltry three percent of the overall global GDP. The Vice President, who gave the charge during the African Economy of Scale Plenary on the sidelines of the ongoing World Economic Forum...
CBN Raises Interest Rate To 27.65%
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has increased the benchmark lending rate to 27.65 percent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation since it...
It’s Not A Sin To Borrow – Buhari’s Aide, Garba Shehu
President Muhammadu Buhari’s Senior Special Assistant on Media, Garba Shehu, while speaking with journalists at the weekend in Abuja, also said that it was not wrong for the federal government to borrow more money to finance infrastructure in the country. “It is not a scandal to borrow, the bad thing about borrowing is when you deployed it to your pocket....
Delta Assembly Approves Gov. Oborevwori’s N40b Loan Request To Clear Retirees’ Pensions
Delta State House of Assembly has approved a loan request of N40 billion for Governor Sheriff Oborevwori to defray accumulated arrears of pensions owed to retired primary school teachers and local government employees in the state. The approval is one of the first legislative actions of the first session of the 8th Assembly presided over by the Speaker, Dennis Emomotimi...
