The Federation Account Allocation Committee (FAAC), at the end of its Wednesday meeting held in Abuja disclosed that it distributed a total sum of N736.782 billion to the three tiers of government as allocation from the federation account in for the month of October. The committee disclosed that out of this amount generated from Gross […]
The Federal Government has threatened that effective from 2023, Ministries, Departments and Agencies (MDAs) that failed to adopt the reviewed Standard Bidding documents would be sanctioned. Director General of the Bureau of Public Procurement (BPP), Dr. Mamman Ahmadu, who made this disclosure at a stakeholders’ Workshop on the Review of Draft Standard Bidding […]
The Board of Directors of the African Development Fund has approved a $27.9 million grant to Ghana for the development of agricultural value chains in the Savannah region to increase climate-resilient production of maize, rice and soybean, support the poultry value chain, and generate employment for women and youth in the country. The grant also aims […]
…..Says Buhari Will Launch New Naira Notes Wednesday The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised the Monetary Policy Rate (MPR), the benchmark interest rate, by 100 basis points to 16.5%, at the end of its two-day meeting in Abuja. The latest MPR is the highest lending […]
In response to the discovery of a new attack that compromises victims’ VPN (Virtual Private Network) accounts to compromise messaging app, Telegram, the Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has advised users to adopt two-factor authentication to protect their Telegram accounts and to not download unknown Advanced IP Scanner Software. Ukrainian cyber experts discovered the […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said that the apex bank planned to reduce the volume of N500 and N1000 notes in circulation “over time” as part of its moves to tame the spiking inflation in the economy. The governor, who spoke on the move while responding to questions about […]
The Federal Government has commenced the disbursement of soft loans to 3,166 vulnerable and low-income groups involved in productive activities in Niger State under its Government Enterprise and Empowerment Programme (GEEP 2.0) The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, announced the cash disbursement kick-off on Tuesday during the inauguration […]
Delta State Government on Tuesday disclosed that out of the N240 billion due from the 13 percent derivation fund owed by the Federal Government it had accessed just N44.7 billion. The State Commissioner for Finance, Mr. Fidelis Tilije, who made the disclosure during a media briefing at the Government House, Asaba, said the state government had […]
The World Bank Group has rated Nigeria’s fiscal system, in terms of revenue generation and inefficient use of resources, among the lowest globally and canvassed the need for the Nigerian governments to embark on macroeconomic and fiscal reforms to lift Nigeria’s development outcomes. The Washington D. C-based development finance institution’s latest position on the nation’s […]
The Bureau of Public Enterprises (BPE) has announced that three firms have been pre-qualified and issued the Request for Proposal (RFP) for the concession of the Calabar and Kano Free Trade Zones (FTZs) in the country. The Director General of the Bureau, Mr. Alex Okoh, who announced the qualification of the three companies at the […]