World Bank: Presidency attacks media, claims reports mischievous The Presidency on Friday said the reported discussion between President Muhammadu Buhari and the World Bank Group President, Jim Yong Kim, was deliberately twisted by those who it said specialise in such acts. Media reports had it that  Kim disclosed in Washington DC, United States of America, that Buhari had requested a concentration of the...... read more
IMF to FG: Nigeria's debt profile swelling up The federal government has been warned about its rising debt profile, especially foreign loans, by the International Monetary Fund (IMF). The financial institution issued the warning on Wednesday, October 11. This comes following President Muhammadu Buhari’s recent request to the National Assembly for approval to borrow $5.5 billion to fund the...... read more
Kachikwu, Baru, embrace publicly *It’s transparency all the way, Minister insists Ibe Kachikwu and Maikanti Baru, on Tuesday, poured cold water on their week-long spat, when they publicly embraced each other in Abuja, where the fight, which has engaged the entire nation since it blew open, started. Both the Minister of State for Petroleum Resources and the Group Managing Director (GMD) of...... read more
President Buhari goes for approval of $5.5 bn loan, summons Service Chiefs President Muhammadu Buhari has asked the senate to approve a loan of $5.5 billion to fund the 2017 budget. Buhari’s request was contained in a letter read by Senate President Bukola Saraki on Tuesday. The president also said the 2017 budget had a deficit of N2.356 trillion. “Implementation of the external borrowing...... read more
I'm not a thief - Baru *Insists, no money is missing from NNPC coffers “I know for those of you who are following what we are doing here, you know that there’s no money lost and no process has been breached," Group Managing Director (GMD), of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, emphasised on Monday, while again dismissing the allegation that he has...... read more
Dangote: We're not going to import anything any longer It was a solemn pledge from Africa's richest man and Nigerian-born business magnate, Alhaji Aliko Dangote, that Nigeria would strive to look inwards to eat what it it kills from its own backyard, with him taking the lead in that direction. “We are not going to import anything any longer,” the...... read more
CBN gets new Deputy Governor as Nigeria's economy gasp for fresh breath President Muhammadu Buhari has appointed Mrs Aishah Ahmad as the Deputy Governor of the Central Bank of Nigeria, subject to Senate Confirmation. This was announced in a statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina. Mrs Ahmad is expected to resume immediately her appointment...... read more
Buhari's Minister makes u-turn on 2018 budget presentation, opts for January Minister of budget and national planning, Udoma Udoma has indicated that the 2018 budget will be ready in January 2018 instead of the October 2017 he earlier announced. Udoma, represented by Aso Vakporoye, deputy director, economic growth in the ministry, spoke in Abuja on Wednesday during the public presentation and capacity building...... read more
CBN: Black market is dead *To severely sanction banks hoarding Forex There is no more black market exchange rate in Nigeria’s foreign exchange transactions, the Central Bank of Nigeria (CBN) has said. Instead, the notorious forex mechanism, which many Nigerians had relied on in the past for their transactions, has given way to the Bureau de Change (BDC) operations, the apex bank...... read more
CBN's axe dangles on banks without forex sales points *Get October 13 deadline The Central Bank of Nigeria (CBN), said on Monday that it was in no mood to tolerate Deposit Money Banks breaching its instructions to open teller points for retail foreign exchange transactions in all locations and would visit any further infractions with the big hammer. Acting Director, Corporate Communications, Mr Isaac...... read more
Speed up revitalisation of Ajaokuta, ALSCON, Mining Council urges FG The Federal Government has been urged to speed up the revitalisation of the Ajaokuta Steel Company Ltd and Aluminium Smelting Company of Nigeria (ALSCON), as well as revive several moribund steel plants scattered across the country in a bid to grow the country’s steel sector and promote private sector participation in...... read more
Countdown to News Express Lecture: More eminent dons sign in *UN security expert coming The maiden edition of the News Express Lecture Series, is already indicating to host a collection of eggheads in the academia, government, security, industry, business and other aspects of human endeavour. United Nations Security Coordination Officer, Francis T. Okoemu, swelled the ranks of experts, who have signed in to the project...... read more
Abuja, Lagos airports go into private hands, as FG approves concession Both the Nnamdi Azikiwe International Airport (NAIA) Abuja and the Murtala Muhammed International Airport (MMIA), two of Nigeria’s most prestigious international outlets are going into private hands. This was announced by Vice President, Yemi Osinbajo, through his verified official Twitter account, on Monday, which indicated that the move to concession the...... read more
Pay ASUU N1trillion from looted funds, Uniport alumni tell FG The University of Port Harcourt Alumni Association is asking the Federal Government to pay a whopping N1trillion to the Academic Staff Union of Universities (ASUU), currently at loggerheads with the Federal Government. In a statement, the National President of the Association, Chief Chris Adokeme urged the Federal government to utilise the...... read more
Nigeria 'statistically' out of 'worst recession ever' *Jubilation for Senate Nigeria is finally out of recession as data on the country’s Gross Domestic Product released on Tuesday  shows that the economy grew at 0.55 per cent in the second quarter of 2017. This is 2.04 per cent higher than the rate recorded in the corresponding quarter of 2016 and higher by...... read more
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