•Nigerian Senate The Senate yesterday Saturday, December 30, approved President Bola Tinubu’s request to borrow $7.8billion and €100 million as part of the 2022- 2024 borrowing plan of the federal government. The resolutions of the Senate followed its consideration and adoption the report of its committee on Local and Foreign Debt during its s...
Naira has been rated among the world’s worst performing currencies in 2023. This is according to Bloomberg in its latest report. It said the currency is poised for its worst year since the return to democracy in 1999, with analysts predicting further depreciation in 2024. Bloomberg noted that the Naira plunged 55 per cent this […]
•Tinubu About N85 billion has been proposed to be spent on vehicles by 12 federal government agencies and 13 ministries in 2024. This is more than the N84.7bn budgets of Nnamdi Azikwe University Teaching Hospital (NAUTH), Nnewi (N37.6bn), University College Hospital, Ibadan (N27.2bn) and Obafemi Awolowo University Teaching Hospital (OAUTH), If...
Alhaji Abdul-Samad Rabiu, Chairman of the BUA Group, said that the company would maintain its promise of selling cement at the price of N3,500 from January 2024. He said this while speaking with State House Correspondents after a visit to President Bola Tinubu today in Lagos. He said the company would also make the product […]
•CBN Governor Yemi Cardoso Financial experts and seasoned economists have sued for caution in the way and manner the Special investigation report on the Central Bank of Nigeria (CBN) is being handled to forestall the possibility of eroding public confidence in the institution. The leaked report raises serious allegations against various offici...
Zenith Bank Plc has been named the “Best Bank for Digital Solutions in Nigeria” in the Euromoney Awards for Excellence 2023, underscoring the bank’s pioneering and outstanding achievements in delivering cutting-edge digital financial solutions. Speaking on the recognition, the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeag...
•FCCPC boss, Babatunde Irukera The Federal Competition and Consumer Protection Commission (FCCPC) has imposed $110 million fine on British American Tobacco Nigeria Limited and other affiliated companies. A statement issued today by the management of the FCCPC led by Barr. Babatunde Irukera, said the fine was prompted by a range of infringement...
Determined to ensure recovery of unremitted funds at Warri Port, the recently contracted pilotage firm by the federal government, Escravos Ship Pilot Nigeria Limited (ESPNL), has decried sharp practices carried out in collusion with operators of oil service boat operators, denying Nigerian Ports Authority (NPA), millions of naira in revenue. T...
The year 2023 has been a challenging year for the global economy as inflation, rising interest rates, tight labour markets and geopolitical shocks hit forecasts and caused uncertainties. Nigeria, the largest economy in Africa was not exempted from these challenges as the country’s financial sector witnessed some highs and lows in the year in r...
Thirteen states plan to borrow or get aid assistance of N2.31tn in 2024 to fund their budget deficits, a breakdown of their 2024 proposed budget has shown. This will increase the states’ debt profile to at least N4.73tn. As of the end of September of 2023, the domestic debts of the states amounted to N2.61tn, […]
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