Category Archives: cover

Germany says committed 45.6million Euros to Nigeria’ development programmes

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The German government through the German International Co-operation (GIZ), says it has committed 45.6 million Euros to support development programmes in Nigeria in the past three years. The sum was obtained from the “Aid Information Management System’’ website, a Development Assistance Database of the Ministry of Budget and National Planning in Abuja. The figure reveals […]

MAN President wants Nigeria’s 4 Refineries privatized

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Dr Frank Jacobs, President, Manufacturers Association of Nigeria (MAN), has called for the privatization of the country’s four refineries to ensure more private sector participation and to make them productive. Jacobs told news reporters on Friday in Lagos, South-West Nigeria, that privatization of the four refineries would shore up their production of refined products from […]

CBN to lenders: Submit bid for Chinese Yuan

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The Central Bank of Nigeria on Friday asked lenders to submit bids for the Chinese yuan, according to traders, in the first auction after it agreed a $2.5 billion swap with its Chinese counterpart in May. The auction is part of an attempt to encourage the use of an alternative trading currency, particularly given the […]

Debt Management Office lists N10.69bn Sovereign Green Bond

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The Debt Management Office, DMO, on Friday, listed on the Nigerian Stock Exchange, the N10.69billion, 5-year, Federal Government Sovereign Green Bond at coupon rate of 13.48 per cent.  The event was headlined by the Director General, DMO, Mrs. Patience Oniha, the Honourable Minister of State for Environment;  Hon. Ibrahim Usman Jibril, and United Nations Deputy Secretary […]

Customs says to reduce cargo clearance time

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Customs impound arms shipment at Tin Can Port

The Nigerian Customs Service (NCS) says it has embarked on Time Release Study (TRS) to measure the efficiency of its trade facilitation scheme and reduce the time of cargo clearance. Mr Wale Adeniyi, Deputy Commandant, Customs Training College, Gwagwalada, Abuja, disclosed this in an interview with news reporters at a workshop on TRS in Lagos, […]

Capital Market: Senate plans legislation to revive market

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The Nigerian National Assembly has expressed determination to revive the nation’s capital market through legislation to contribute to infrastructure development in the country.   The Chairman Senate Committee on Capital Market Senator Foster Ogola stated this at a joint briefing by the National Assembly joint committee on Capital Market on the forth coming Bi-Annual Stake […]

N-Power: FG to engage 300,000 new beneficiaries

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Nigeria has concluded arrangements to engage and deploy 300,000 new beneficiaries in the second batch of its N-Power Volunteers Corp effective from 1st August, 2018. Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, stated this in a release on Thursday. “With 200,000 beneficiaries currently benefitting from the […]

House of Reps says probing loss of tax revenue, illegal mining

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The Nigerian House of Representatives is to probe the alleged loss of fifty billion dollars, about eight trillion Naira in gold tax revenue and illegal mining in the country in the last five years. This followed a unanimous adoption of a motion on the need to investigate the alleged revenue loss and illegal mining in […]

DMO: Nigerian government makes N343.05m from savings bond in July

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The Federal Government said it made N343.05 million from sales of savings bond in July. The results of the sales published on the website of the Debt Management Office (DMO) on Wednesday in Abuja, showed that N79.98 million was allotted for July 2020 at 10.48 per cent. It also indicated that N263.06 million was allotted […]

NSITF N6.2bn fraud: Labour Minister receives report

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The Administrative Panel of Enquiry, which probed the N6.2 billion scam at the Nigeria Social Insurance Trust Fund (NSITF) on Wednesday submitted its report to the Minister of Labour and Employment, Dr Chris Ngige. Mr Ishaya Awotu, the chairman of the panel said that there were irregular allowances totalling N5.7 billion paid to staff and […]