The Nigeria Deposit Insurance Corporation (NDIC) has inaugurated a 10-member Anti-Corruption and Transparency Unit (ACTU) in furtherance of its anti-corruption drive aimed at ensuring transparency and fairness in all areas of operations. The Managing Director/Chief Executive Officer of the corporation, Mr. Bello Hassan, in his remarks during the ACTU inauguration ceremony maintained that the initiative […]
Dangote Refinery’s management has announced a further reduction in the price of Automotive Gas Oil (AGO) diesel from the N1000/litre earlier reported last week to N940/litre for customers buying 5 million litres and above from the refinery. In a statement signed by the company’s Head of Communications, Mr. Anthony Chiejina the management maintained that the […]
Minister of Power, Mr Adebayo Adelabu, has said that the Federal Government is planning to increase the nation’s power generation from 4000 megawatts to 6000 megawatts by the end of this year. Adelabu, who gave this hint on Monday when the members of the Senate Committee on Power visited his ministry, said that the plans […]
The Federal Operations Unit Zone C of the Nigeria Customs Service (NCS) has reported that it seized contrabands worth N7.6 billion between January 25 last year and April 19th this year. The outgoing Controller of the Zone, Comptroller Kayode Kolade, who gave these figures in his farewell message during a brief handover to his successor, […]
The Federal Government has ordered the resale of electricity Distribution Companies (DisCos) now under the management of banks and the Asset Management Company (AMCON) within the next 90 days to reputable power operators as part of its current drive to improve power supply nationwide. The order was given by the Minister of Power, Adebayo Adelabu, […]
To strategically position Nigeria in the frontline of current global drive towards artificial intelligence (AI) development, the Federal Government has secured $3.5 million seed fund for Nigeria’s Artificial Intelligence (AI) strategy implementation from development and other independent partners. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, made this disclosure on Friday at the […]
Investment researchers at Bancorp Securities Limited, a leading investment research and consulting firm, have predicted appreciable positive sentiments in the Nigerian Exchange trading sessions as investors would reposition amidst the previous week’s lower prices The experts, in the firm’s ‘Weekly Stock Recommendation: April 22 – April 26th 2024’ report noted that the nation’s economic landscape […]
The Director-General of the International Labour Organization (ILO), Gilbert Houngbo, has called for reinforced multilateralism and a focus on social justice for a sustained global recovery, highlighting the need to bolster investment in social policies, institutions, and dialogue. Houngbo, in statements delivered at the just concluded World Bank and International Monetary Fund (IMF) spring meetings […]
Despite concerns being expressed by analysts about Nigeria’s rising debt stock, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced on Sunday that the Federal Government had secured approval of the World Bank for $2.25 billion loan. Edun, who gave this hint during a press conference at the annual meetings […]
The Federation Account Allocation Committee (FAAC) on Friday confirmed that it shared a total sum of N1123.391 billion from the March 2024 Federation Account revenue to the Federal Government, States and Local Government Councils. The Committee, in the communiqué issued at its April, 2024 meeting, stated that the N1123.391 billion total distributable revenue comprised statutory […]