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 […]
The Debt Management Office (DMO) on Monday offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on behalf of the Federal Government. It stated that the offer, which opened the same day it made the announcement, is of 10-year tenor due for maturity in December 2032 and the bonds were issued by […]
The Central Bank of Nigeria (CBN) has launched a countdown clock on its website indicating when the old Naira notes will cease to be a legal tender. The countdown clock shows that January 31, 2023, remained the deadline for the N200, N500, and N1,000 notes to “remain legal tenders.” It would be recalled that the apex bank […]
Worried by the disparity in their retirement benefits, retirees in the Federal civil service have decided to seek legal redress after years of discussions with the authorities on the matter did not yield any positive results. Already, the retirees who are from the six geopolitical zones, have approached the National Industrial Court, Abuja to seek […]
TotalEnergies SE is planning to explore for oil offshore South Africa’s West Coast, where environmental groups have increasingly opposed such activity. The French explorer proposes to drill one well, which could result in an additional nine wells depending on the success of the first, SLR Consulting Ltd., which is doing the environmental assessment, said on […]
The Federal Government has concluded arrangements to kick-off the validation phase of the first integrated oil development project in Northern Nigeria on Tuesday as part of sustained efforts to tap into hydrocarbon resources deposits of the country. According to sources at the Presidency, the event to be performed by President Muhammadu Buhari will take place […]