Nigeria needs 400,000 teachers - NUT

The Nigeria Union of Teachers, NUT, has said the country requires over 400,000 teachers in primary and secondary schools to address the deficit currently experienced in the basic education subsector.

National President of NUT, Comrade Nasir Idris, who stated this in Abuja at the 2018 World Teac [...]

Sun, 07 October 2018

Flood threatens rice production, agric minister warns

The federal government has warned that the country is likely to experience shortage in rice production, owing to the flash flood currently being recorded in parts of the country.

The Ministry of Agriculture and Rural Development cautioned that if adequate measures were not taken to replant the [...]

Sun, 07 October 2018

Telecoms attract $5bn quarterly investment

Investment into the telecom sector in Nigeria has been steadily attracting deals worth $5billion every quarter since the beginning of 2018, bringing total investment in the sector since 2001 to $85billion.

According to the Nigerian Communications Commission, NCC, sector’s contribution to [...]

Sun, 07 October 2018

NDIC pays N11.50bn to failed bank depositors

The Nigeria Deposit Insurance Corporation, NDIC, said it has paid over N11.50billion to depositors, creditors, and shareholders of failed banks as at 2017.

The Managing Director of NDIC, Alhaji Umaru Ibrahim, who disclosed this at the NDIC’s Special Day at the 13th Abuja International Tra [...]

Sun, 07 October 2018

Afreximbank task banks on trade facilitation programme

Commercial banks operating on the continent have been urged to key into the Trade Facilitation Programme of the African Export-Import Bank, Afreximbank, in order to improve their business performances.

The Manager, Guarantees and Specialised Finance Unit of the bank, Ms Fatma Bao, said Afreximb [...]

Sun, 07 October 2018

CBN allays fears over dwindling external reserves

The Central Bank of Nigeria, CBN, has said there is no cause for alarm over the drop in the nation’s external reserves which has been on a downward trend lately.

The director, Corporate Communications of the CBN, Mr Isaac Okorafor, assured that at the current level of $44billion, the exte [...]

Sun, 07 October 2018

Tax evasion: FIRS generate N12bn from billionaires

A total of N12.66billion tax revenue has been generated from billionaires who have not been paying commensurate taxes into government coffers.

The Executive Chairman of the Federal Inland Revenue Service, FIRS, Tunde Fowler stated this when he received Minister of finance, Hajia Zainab Ahmed, w [...]

Sun, 30 September 2018

Food prices crashes in spite rise in inflation

Data from the National Bureau of Statistics, NBS, have shown that foodstuff prices have been on a steady decline, despite the rise in inflation rate being witnessed in Nigeria in the last few months.

The Monetary Policy Committee of the Central Bank of Nigeria had recently warned that the count [...]

Sun, 30 September 2018


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