Sarah NEGEDU

$5.2billion fine: FG, MTN settle out of court

The protracted legal tussle between the Nigerian government and the South African telecommunication company, MTN Nigeria, may have finally been laid to rest as the telecoms company, last week, paid an initial sum of N50billion to the federal government.

The payment could be an off-shot of the e [...]

Sun, 28 February 2016


Federal allocation drops by N17.4billion in January

Allocations to the three tiers of government have continued to drop as disbursement for the month of January 2016 witnessed a N17.4billion drop from the previous allocation.

Figures from the last Federation Accounts Allocation Committee, FAAC meeting suggest that federal, states and local gover [...]

Sun, 28 February 2016


Non BVN accounts remains dormant until…CBN

The Central Bank of Nigeria, CBN, has allayed fears of bank customers yet to link their accounts with their Biometric Verification Number, BVN, stressing that such accounts will be considered as a ‘No Customer Initiated Debit’ accounts, until the accounts are successfully sorted out.

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Sun, 28 February 2016


Sanusi: FG losing N100 on every dollar at official rate

Immediate past governor of the Central Bank of Nigeria, CBN, Sanusi Muhammad II, has warned that the federal government was losing N100 on every dollar sold at the official rate of N200, claiming that the naira has already been devalued.

Sanusi, who is the emir of Kano, added that President Muh [...]

Sun, 21 February 2016


South African retailer exits Nigeria over import restrictions

As the Nigerian economy continues to struggle, South African retailer, Truworths, has left the country citing import restrictions.

“We were unable to operate the stores properly any longer because we were unable to send merchandise to the stores because there’s regulation preventing [...]

Sun, 21 February 2016


Treasury bills slides, as FG moves to curb inflatio‎n

The federal government's sale of N142.43 billion ($715.73 million) worth of treasury bills, auctioned last week, recorded lower yields from previous trading.

According to the Central Bank of Nigeria, CBN, the bills which range between ‎three-months to one-year, like others, were issued [...]

Sun, 21 February 2016


’Nigeria ‎to leverage on population to develop agric sector’

Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has said that the country could put the growing population into good use by increasing local production of food crops.

Ogbe suggested that Nigeria’s population which would grow up to 200 million by the year 2020 could be an [...]

Sun, 21 February 2016


FG sets up N500bn intervention fund for artisan, farmers

‎Approximately two million micro traders, farmers and artisans across the country will benefit from the N500billion social protection programme, SPP, fund of the federal government in 2016‎.

Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, who dropped the hint while s [...]

Sun, 21 February 2016


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 National Youth Service Corps, NYSC, members serving in Karu local government of Nasarawa state have alleged that the NYSC local government in [...]

10 March 2019