Category Archives: Local News

Former U.N. chief and Nobel Peace Prize laureate Kofi Annan dies aged 80

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Annan, a Ghanaian national, died in hospital in Bern, Switzerland, in the early hours of Saturday, two of his close associates said. In Geneva, the Kofi Annan Foundation announced his peaceful death with “immense sadness” after a short illness, saying he was surrounded in his last days by his second wife Nane and children Ama, […]

CBN plans second auction of Chinese yuan

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The Central Bank of Nigeria has directed banks to submit bids for the Chinese yuan, in its second auction of the currency after it agreed a swap with the People’s Bank of China (PBoC) in May 2018. According to the CBN, the auction is part of efforts to encourage the use of an alternative trading […]

Economy: Bankers’Committee Mutes Plan to Stimulate growth

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The Bankers’ Committee on Thursday revealed plans to stimulate growth in the economy. Director of Banking Supervision of the Central Bank of Nigeria (CBN), Mr Ahmad Abdullahi, told the newsmen after a Bankers’ Committee meeting in Lagos that stability in the exchange rate have achieved hence the need to shift focus. Abdullahi said that stability in the […]

NEC: FG rakes in N40 billion from VAT

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The Nigerian government has so far raked in over N40 billion from value added tax across the country. The revelation was made on Thursday at a monthly meeting of the National economic Council, presided over by Acting President Yemi Osinbajo. Addressing State House Correspondents at the end of the meeting, Jigawa Satte Governor, Abubakar Badaru said: “We were […]

US Embassy Shuts Down Visa, Consular Services in Abuja

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The United States Embassy Tuesday said it has shut its visa and consular services section at its embassy in Abuja indefinitely. “Until further notice, all consular appointments at the U.S. Embassy in Abuja have temporarily ceased for both visa and for American Citizen Services. Consular functions in U.S. Consulate Lagos are not affected and will continue. “Scheduled visa […]

Nigeria’s Debt Hits N22.38trillion – DMO

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The Debt Management Office (DMO), has disclosed that the country’s Debt Profile stood at N22.38 Billion as at June 30, 2018. Director General of DMO, Ms Patience Oniha who revealed this at a press conference in Abuja said the figure comprises Domestic and External Debt Stock of the Federal and 36 State Governments and the […]

FG Appoints Adesoun Chairman NBET Board

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By Udo ONYEKA The Federal Government has announced the reconstitution of the Board of Directors of Nigeria Bulk Electricity Trading Company, NBET. According to a statement from the Federal Ministry of Finance, the reconstituted NBET board, which has been ratified by the Acting President, Prof. Yemi Osinbajo SAN, has the Minister of Finance, Mrs. Kemi […]

Stock Exchange all share index falls by 0.35 per cent

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Activities on the floor of the Nigerian Stock Exchange have continued to fall having significant effect across all boards. The numbers of registered stocks have also fallen as 33 stocks depreciated, with only 13stocks gaining and 124 stocks maintaining their prices per share at the close of Tuesday’s trading activities. Whereas on Monday, 14 stocks gained, 26 fell while 130 remained unchanged. Although, the number of […]

Nigeria restates commitment to infrastructure development

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President Buhari’s administration will continue to secure Nigeria, upgrade infrastructure and ensure its wealth is not hijacked by a greedy few. The Acting President, Professor Yemi Osinbajo stated this on Tuesday during a one-day working visit to Zamfara State. Professor Osinbajo, who was received by Governor Yari Abdulaziz, also inaugurated projects executed by the state government […]

Police rename Special Anti Robbery Squad

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Special Anti-Robbery Squad, SARS, has been renamed ‘Federal Special Anti-Robbery Squad (FSARS),’ with a new commissioner of police appointed to head the unit. The move is part of the overhaul done by the Inspector-General of Police, IGP, Ibrahim Idris following a presidential order on Tuesday. The Police Public Relations Officer, Jimoh Moshood announced the changes hours after Acting […]