*The Foreign Reserve, Payment of backlogs of owed Forex, Increased Oil Production, etc. I see supporters of a certain candidate spreading the propaganda that our foreign reserves dropped because the Tinubu administration has abandoned the flotation of the Naira and is now defending it, like previous administrations, and that isContinue Reading
…details of how Lagos Court remanded Ex-CBN Gov The Economic and Financial Crimes Commission, EFCC, has filed a fresh 26-count charge bordering on abuse of office and corruption against the former governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele. Emefiele will be arraigned before Justice Rahman OshodiContinue Reading
Zimbabwe is replacing her collapsing local currency with a new one backed by gold and foreign currencies hoped will be more stable and help bring down inflation, the central bank said on Friday. The Southern African country relaunched her own currency in 2019 after a decade of dollarisation, but itContinue Reading
‘Not less than N80 billion had been budgeted for the PAF as maintenance cost, from 2016 to 2023. In 2016 (N3.65 billion), 2017 (N4.37 billion), 2018 (N7.26 billion), 2019 (N7.30 billion), 2020 (N6.79 billion), 2021 (N12.55 billion), 2022 (N12.48 billion) and in 2023 about N25.7billion, made up of N13billion inContinue Reading
By Abdullahi Ahmed, Tola Kehinde and Rosaline Ekwere The naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market, according to reports confirmed by relevant stakeholders. The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29, yetContinue Reading
‘This wave of recapitalization is a bit different from that of Charles Soludo implemented between July 2004 and December 31, 2005 in which all the banks were all forced to recapitalize to a minimum of N25 billion. It shrunk the industry from 89 to 24 banks. This time, the banksContinue Reading
…as Naira continues to bounce back against Forex This morning, at Zone 4 Abuja, along the Sheraton Hotel, the dollar is selling at N1,000 – $1. Abdulsalam BDC is selling N900 if buying over $5000. There’s a mad rush to dispose of dollars at Zone 4. The dollar in theContinue Reading
…receives Deputy Secretary General of the United Nations The First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu has reiterated the call to Nigerians to get more involved in Agricultural production. According to a Press Release signed by Busola Kukoyi, SSA on Media to the First Lady datedContinue Reading
…as Hon Idem Charges MDAs To Finalize 2023 Plan, Begin Implementation Of 2024 Budget The House of Representatives has passed a bill seeking to extend the implementation of the 2023 supplementary budget to June 2024. President Bola Ahmed Tinubu had written the House of Representatives, asking it to extend theContinue Reading
FAAC has disbursed the sum of N2.07 Trillion to the three tiers of governmentovernment in February, 2024 from the total revenue generated in January, 2024. Details of State-By-State shares are as follows: Abia: 8.3BN Adamawa: 8.4BN Akwa Ibom: 26.6BN Anambra: 10.1BN Bauchi: 8.3BN Bayelsa: 22.8BN Benue: 9.7BN Borno: 10.5BN CrossContinue Reading
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