President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Central Bank of Nigeria (CBN) on Wednesday directed banks to continue to issue and accept old and new Naira banknotes nationwide. The apex bank, in a statement issued by the Acting Director, Corporate Communications, Mrs. Sidi Ali Hakama, clarified: “Following the order of the Supreme Court on Wednesday, November 29, granting the prayer of […]
The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had introduced the Single Customer View […]
The Nigerian Ports Authority (NPA) has outlined plans to invest about $1.1 billion (about N800 billion) in the various ports across the country in furtherance of its current efforts to reduce the high turnaround times of vessels and improve ports efficiency. The Managing Director of the Authority, Mohammed Bello-Koko, in an X post on Monday, […]
The Nigerian Civil Aviation Authority (NCAA), on Monday announced the suspension of all wet-leased aircraft operated by United Nigeria Airlines (UNA) following Sunday’s diversion of airlines’ passengers to Asaba International Airport instead of at their intended destination, Nnamdi Azikiwe International Airport (NAIA), Abuja. In the aviation sector, in a wet lease, an airline (the lessor) […]
Apparently worried by the rising air travels incidents across the nation’s airports in recent weeks, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has summoned heads of aviation regulatory agencies to an emergency meeting to parley on the worrisome development in the industry. The minister’s invitation to the industry’s chiefs for the meeting […]
The African Reinsurance Corporation has announced its financial results for the first nine months of this year, which reflected a strong growth in Net Nrofit to $75.4 million and a “remarkable improvement” compared to the loss recorded at the end of the same period of 2022. A news report from Reinsurance News, an online medium […]
As the Yuletide celebration season is fast approaching and with consumers lamenting the surging prices of commodities, the Federal Government has set up a committee with a mandate to make recommendations on how to boost domestic supplies of Liquefied Petroleum Gas (LPG), also known as cooking gas. The Committee was set up by the Minister […]
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has urged Nokia Networks, one of the global leading ICT firms, to increase its investments in Research and Development (R&D) of the nation’s Information and Communication Technology (ICT) to support the industry’s sustainable growth. Maida, made the […]
The Socio-Economic Rights and Accountability Project (SERAP), a leading civil advocacy group in Nigeria, has urged the World Bank to suspend further loans to Nigeria’s 36 states until previous ones are accounted for. The group hinged its stance on what it termed recurring allegations of mismanagement of public funds by state governors, including loans which […]