Power projects: EFCC launches probe into Obasanjo's regime The Economic and Financial Crimes Commission (EFCC) has launched a probe into the controversy surrounding the $16 billion allegedly spent on power projects during the administration of former President Olusegun Obasanjo. Obasanjo had, earlier in the week, declared that he was ready for investigation, after President Muhammadu Buhari suggested that funds earmarked...... read more
BREAKING: At last, 2018 budget finds its way back to Villa The Presidency on Friday evening confirmed the receipt of the 2018 Appropriation Bill from the National Assembly. According to Punch, the Senior Special Assistant to the President on National Assembly Matters (Senate),  Ita Enang, confirmed the development to State House Correspondents at about 8.30pm on Friday. “I have received the budget on behalf of the...... read more
On $16billion power funding: Buhari very ignorant – Obasajo The verbal missiles continued to fly on Tuesday between former President, Olusegun Obasajo and President Muhammadu Buhari, with the former accusing the latter of pure ignorance and lack of capacity to comprehend critical issues of government and lack of grasp with history. Obasanjo, was reacting to Buhari’s comments earlier in the...... read more
Only lazy Nigerians are hungry – customs boss *Says Buhari should be resting at 70 For Comptroller General of Customs (CGC), Hameed Ali, hungry Nigerians should blame themselves for their laziness rather than holding President Muhammadu Buhari responsible for the parlous situation. Ali, an ally, who led the Buhari Support Group (BSG) to the Presidency on Tuesday, in support of his second term bid, insisted that...... read more
Again, CBN pegs interest rate at 14 per cent *Cites 2018 budget, insecurity, others The risks arising from the late approval of the 2018 budget, the heightened killings across the country, salary arrears, growing sovereign debts, have stayed the hands of the Central Bank of Nigeria (CBN), from touching the nation’s interest rate regime. The Monetary Policy Committee (MPC), of the nation’s apex bank after...... read more
BREAKING: Buhari queries Obasanjo’s $16billion power sector spending A tit for tat appears imminent from President Muhammadu Buhari, who on Tuesday, raised the issue of the $16billion (about N6trillion) former President Olusegun Obasanjo, was said to have spent on the power sector “without result,) This was one of the snippets of the Present’s meeting with Buhari Support Organisation (BSO),...... read more
Udoma inaugurates Joint Planning Committee of NES 24 *Sets goal on economic recovery The Minister of Budget and National Planning, Senator Udoma Udo Udoma on Friday, in Abuja, inaugurated the Joint Planning Committee (JPC) of the 24th edition of the Nigeria Economic Summit (NES), with a mandate to deliver a Summit that will not only meet the expected outcomes but continue the work of placing...... read more
NASS jerks up Buhari's 2018 budget as passage lingers *Omo-Agege stays away The National Assembly has increased the 2018 budget proposal presented to it last year by President Muhammadu Buhari from N8.612 trillion to N9.12 trillion. This represents a whooping N508 billion difference, which the lawmakers have inserted into the appropriation bill. The new figure is embedded in the report of the National...... read more
Buhari to Nigerians: Trust me, I’ll pull you out of hunger, hardship President Muhammadu Buhari, on Tuesday, pleaded for the umpteenth time for the trust and support of Nigerians for himself and his administration, saying the current experience following the parlous state of affairs in the country, was temporary. Buhari, who said he fully understood what the people were going through said his...... read more
PIB: Don't bribe lawmakers, Saraki warns oil firms President of the Senate, Dr. Abubakar Bukola Saraki on Tuesday warned International Oil Companies and Oil Producers Trade Section (IOCs) operating in the country not to bribe lawmakers during the consideration and passage of the Fiscal and Host Communities Bills - components of the Petroleum Industry Bill - now before the...... read more
Act now before our economy collapses, Obi tells Nigerians “By 2008 Nigeria’s debt of 32 billion dollars was cancelled, every cent of it. Today, total debt of all our tiers of government is N22trillion, over 70 billion dollars! And we have nothing to show for it. The debt being 20 per cent of GDP is not a threat. “If the...... read more
BREAKING: CBN seals $2.5bn currency swap deal with China After two years of painstaking negotiations, the Central Bank of Nigeria has finally signed the execution of a bilateral currency swap agreement with the People’s Bank of China. The development was confirmed on Thursday in Abuja by the Acting Director, Corporate Communications, CBN, Mr Isaac Okorafor. He said that the Governor of CBN,...... read more
Banks to pay heavy penalties for violating anti-money laundering laws – CBN Any bank that fails to fully apply regulations towards checking money laundering in their operations, are to face heavy penalties, the Central Bank of Nigeria (CBN), has said. In a set of guidelines emanating from the apex bank on Monday, penalties were stipulated for organisations that flout its Anti-Money Laundering and...... read more
Obi: Restructuring Nigeria is not only desirable, but imperative Restructuring is the best way to go to make Nigeria work, former Governor of Anambra State, Mr. Peter Obi, has said, for the umpteenth time, saying that there was nothing to fear about the concept in terms of the unity of the country. Conveying his position, whilst presenting the keynote address...... read more
Maritime health leads to economic growth – Peterside *Launches massive clean-up of Nigerian waters The imperative of the cleanliness of Nigerians territorial waters, has been emphasised by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, who said it is impactive to the country’s quest for economic growth. Peterside, said at the inauguration of marine litter marshals, raised to ensure...... read more
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