COVID-19: CBN unveils non-interest guidelines for intervention funds

The Central Bank of Nigeria (CBN) has unveiled series of guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS), Micro, Small and Medium Enterprises Development Fund (MSMEDF), the Accelerated Agricultural Development Scheme (AADS) and seven other intervention schemes in its bouquet. The issuance of the...... read more

Nigeria will collapse under heavy weight of corruption – Obi

Unless something is done urgently to change the course of events in Nigeria, the country is headed for doom in no distant time, Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 election, Peter Obi, said on Monday. Obi, who made the call to mark the 4th African...... read more

Alaigbo Stabilization Fund in full swing, as Ohanaeze, S'East govs name full committee

South East governors and Ohanaeze Ndigbo on Thursday, inched further towards emplacing the Alaigbo Stabilization Fund, a with which it is hoping to begin massive development of the region, by setting up team of resource persons for the project. The team, which is made up of experts in finance management, capital...... read more

Buhari: Post COVID-19 will be hit the poor badly, but we’re prepared

”It is my conviction that devoting our efforts towards human capital development, efficient management of our resources, greater financial inclusion and transformation of the agricultural sector to ensure food security are crucial to poverty eradication.” This was the way President Muhammadu Buhari, sought to instill hope in the polity, on a...... read more

BREAKING: FG hikes price of fuel to N143.80 per litre

Nigerians would have to start paying more for Premium Motor Spirit, otherwise known as petrol, as the Petroleum Products Pricing Regulatory Agency (PPPRA). has announced a new price band of N140.80 to N143.80 per litre for the product. Punch is reporting that the PPPRA, in a circular dated July 1, 2020...... read more

Implications of Oramah’s re-election as Afreximbank’s President – Obi

Vice Presidential Candidate of Peoples Democratic Party (PDP) in the 2019 election, Mr. Peter Obi, has described the re-election of Prof. Benedict Oramah as the President of African Export-Import Bank (Afreximbank), as an obvious reward for hard work. In a press release on Thursday, Obi congratulated Oramah, saying that his re-election...... read more

Account for the N800billion recovered by EFCC, SERAP tells Buhari

The Socio-Economic Rights and Accountability Project has asked President Muhammadu Buhari to publish a comprehensive list of names of people from whom N800 billion looted funds have been recovered. In a statement issued on Sunday by its Deputy Director, Kolawole Oluwadare, the group called on the President to direct the Minister...... read more

COVID-19: Accounts of successful applicants to be credited within 24 hours - CBN

The Central Bank of Nigeria (CBN) has advised all successful applicants under the Bank’s COVID-19 Targeted Credit Facility (TCF), whose accounts have not been credited, to visit the website of NIRSAL Micro Finance Bank ( and input their account details. This was disclosed in Abuja on Monday, June 8, 2020, by...... read more

PDP to FG: If fuel sells above N70, you're stealing from Nigerians

The Peoples Democratic Party (PDP) has asked the Federal Government to stop fleecing Nigerians with high fuel price by immediately reducing the pump price to N70 per liter to reflect the appropriate pricing template following the fall in the price of crude oil in the international market. The PDP completely rejects...... read more

South East finally loses out, as reps approve Buhari’s controversial $22.7billion loan

President Muhammadu Buhari can now go ahead to borrow the $22.7billion in foreign loans, as the final stumbling block was removed on Tuesday with the approval by the House of Representatives, even without remedying the request to include the South East. The request, which was passed by the Senate was stalled...... read more

Why we've continued to lower price of petrol - FG

The Petroleum Products Pricing Regulatory Agency (PPPRA), has again lowered the cost of Premium Motor Spirit (PMS), otherwise known as petrol to N121.50 from N123.50 per litre. The PPPRA, in a memo, on Monday to petroleum marketers across the country announced the new price regime and directed them to comply with...... read more

SERAP to Buhari: Account for how you spent previous loans

Socio-Economic Rights and Accountability Project (SERAP)  has asked President Muhammadu Buhari, to make public  the spending details of all loans his administration has taken since 2015 when he was inaugurated.   The organisation also requested the president to include in the detail, list of projects, amount of loans since 1999, repayment...... read more

BREAKING: CBN finally lowers interest rate to cushion COVID-19 impact

After years of maintaining leaving the monetary policy parameter unchanged, the Monetary Policy Committee (MPC) of Central Bank of Nigeria on Thursday, elected to go for an adjustment, reducing the Monetary Policy Rate (MPR), or the controlling lending rate from13.5 per cent in January to 12.5 per cent, but left others...... read more

BREAKING: Again. Buhari goes aborrowing, seeks fresh N2.153trillion from global bodies

Unfazed by criticisms of excessive borrowing by a groundswell of Nigerians, who fear that the country is being plunged back to the period of unbearable debt burden, from which it exited a few years ago, President Muhammadu Buhari, is making a fresh move to add an additional $5.513billion (N2.143).    Former...... read more

Nigeria needs prayer now than before to give leaders the right focus – Obi

The Vice-Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 general election, Mr. Peter Obi, has urged Muslims in the country to pray for God to re-engineer our country and position it for true greatness.   Obi said in a message he sent to the Muslim faithful in the...... read more

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