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Reps Summon Minister over $300m Antimalaria Funds The House of Representatives Committee on Malaria, HIV/AIDS, and Tuberculosis has summoned the Minister of Health and Social Welfare, Prof.Mohammed Pate, over an alleged misappropriation of 300 million dollars in antimalarial funds. Rep. Amobi Ogah, the Chairman of the Committee, read the resolutions in Abuja on Tuesday. Ogah […]

Senate Passes N1.28trn FCT 2024 Statutory Budget The Senate has approved the Federal Capital Territory (FCT) 2024 Statutory Budget of N1.28 trillion. The budget was approved after the consideration of the harmonised report of the Senate and House of Representatives Committees on FCT, during plenary on Tuesday. Presenting the report, the Chairman of the Committee […]

Reps Engage Experts to Facilitate Constitution Review REPS: The House Committee on the Review of the Constitution has appointed nine consultants to provide expert input in the ongoing review of the 1999 Constitution. The Deputy Speaker, Rep. Benjamin Kalu, who is also the chairman of the committee, made this known in a statement on Tuesday […]

FG, States, Local Govts. Shared N10.143trn in 2023 – NEITI The three tiers of government—federal, state, and local governments—shared N10.143 trillion from the Federation Account as statutory revenue allocations in 2023. Dr Orji Ogbonnaya Orji, Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), said this in a report on the Federation Account revenue allocations for […]

IMF Guides West African Economic and Monetary Union Members on Policies The Executive Board of the International Monetary Fund (IMF) has concluded the annual discussions on common policies of member countries of the West African Economic and Monetary Union (WAEMU) According to IMF, the WAEMU has proved resilient amid significant adverse shocks, maintaining strong growth […]

Transcorp Power Appoints Charles Odita Non-Executive Director Transcorp Power Plc has appointed Charles Chiedu Odita as an independent non-executive director, an official statement released on the Nigerian Exchange revealed. The electric power generating company told the investing public and the Nigerian Exchange Limited that the Board of Directors of the company has approved the appointment […]

Senate Confirms Gbenga Alade AMCON Managing Director The Senate has confirmed the appointment of Gbenga Alade as managing director and chief executive officer of Asset Management Company of Nigeria (AMCON), according to an official statement. The lawmaker also confirmed three other persons nominated by President Bola Ahmed Tinubu as executive directors of the corporation. The […]

Japan Ends 8-Year Negative Interest Rates The Bank of Japan (BoJ) has finally ended its eight-year reign of negative interest rates and shifted to a more conventional policy of targeting short-term interest rates. Kudos to BoJ Governor Kazuo Ueda for achieving this without dislocating financial markets, ING fx analyst Chris Turner said in a note, […]

Naira Trends Positive as FX Turnover Slumps by 31% FX Watch: There could be a better future ahead as the Nigerian naira starts to heal from losses sustained at the official and parallel markets in 2024. The exchange rate at the official window is strengthening slowly despite an undervalued claim by the Central Bank of […]

The Nigerian military, Tuesday, moved in swamp buggies to the besieged Okuoma community in Ughelli South Local Government Area of Delta State, in continuation of the ongoing razing of the community. The two swamp buggies, which were off-loaded from trailer-trucks into barges at the Bomadi Police Division waterfront, were transported onward into the creeks. Recall […]

Following subsea cable disruptions on Thursday, Bayobab Group, a subsidiary of MTN Group, has announced the successful restoration of its operations. The telecom operator disclosed this in a statement on Tuesday. MTN said that despite the challenges presented by the cable disruptions, its subsidiary demonstrated its capabilities by swiftly recovering over 3 Terabits per second […]

The Senate has passed a Bill, which seeks to establish the National Youth Service Corps (NYSC) Trust Fund. The bill, among others, seeks to provide a sustainable source of funds for the NYSC, skill acquisition, training and empowerment of Corps members, training and retraining of the personnel of the scheme, development of camps and NYSC […]