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Dr Musa Adamu Aliyu has officially taken the reins as the fifth substantive chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC). His swearing-in ceremony by President Bola Ahmed Tinubu earlier in the day marked a new chapter for the anti-graft agency. Upon arriving at the commission headquarters, Dr. Aliyu addressed the […]

*Okays N6bn Contract Awards Under Aviation •As Tinubu Swears In New ICPC, FCSC Chairmen The Federal Executive Council (FEC) on Wednesday approved the removal of universities and other tertiary institutions in the country from the Integrated Personnel and Payroll Information Systems (IPPIS), allowing the schools to deal with the salary issues of their staff internally. […]

Gov. Sani Presents Draft Budget of N458.2bn for 2024-2026 at Town Hall Meeting Gov. Uba Sani of Kaduna State on Tuesday presented the state’s draft budget of N458.271 billion for 2024-2024 at a 2023 town hall meeting. The budget was tagged: “ Budget of Rural Transformation and Inclusive Development”. Sani said the budget was focusing […]

Nigeria Will Meet 1.7m bpd Oil Production in 2024 Budget – Lokpobiri The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says Nigeria will meet and surpass the 2024 crude oil production budget benchmark of 1.7 million barrels per day (bpd). Lokpobiri said this at a stakeholder’s interactive session on Creating Value and Enabling […]

Kano State Assembly Passes N24bn Supplementary Budget, Raising State’s 2023 Budget to N350bn Kano State House of Assembly passed a supplementary budget of N24 billion for 2023 in Kano on Tuesday. The passage raised the state’s budget for the year to N350 billion. Gov. Abba Kabir-Yusuf transmitted the bill for the supplementary budget to the […]

Wema Bank Moves to Raise N40bn Tier-2 lender, Wema Bank Plc, is seeking to raise additional capital from sales of the right issue which allows existing shareholders to remove risk of shareholding dilution. Amidst a plan to shore up the bank’s capital base, Wema is expected to sell ₦39,946,002,650.18 worth of right issue. According to […]Read More

Chinese Yuan Weakens to 7.1174 Against Dollar Central parity rate of the Chinese currency renminbi, or the Yuan, weakened 11 pips to 7.1174 against the dollar on Tuesday, according to the China Foreign Exchange Trade System. Naira Devaluation Deepens Economic Crisis in Nigeria In China’s spot foreign exchange market, the Yuan is allowed to rise […]

Golden Oil Funding SPV Seeks ₦5bn Asset-Backed Commercial Paper Golden oil funding Special Purpose Vehicle (SPV) plc is looking to raise N5 billion from series 1 asset back commercial paper, FSDH said in a sales pitch sent to clients. “We are pleased to inform you of the upcoming launch of Golden Oil Funding SPV PLC […]

AfDB set to Tackle Illicit Financial Flows, Corruption in Africa In its efforts to tackle illicit financial flows and corruption in Africa, the African Development Bank (AfDB)  has begun the training of relevant stakeholders to build their capacity. Dr Eric Ogunleye, the Acting Director and Division Manager, Policy Management at the African Development Institute of […]

We’ll Account for Oil Revenue–Finance Minister The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the administration of President Bola Tinubu will account for revenue from oil. Edun said this when he appeared before the House of Representatives Committee on Appropriation to defend the 2024 appropriation bill. He said the […]

FG Poised to Increase Foreign Investments, Partnerships The Federal Government says Nigeria is open, safe, willing, and ready for more Foreign Direct Investments (FDIs) and partnerships to engender wealth and national growth. Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi, said this at a Private Dialogue with delegations from Germany and […]

CBN Suspends Processing Fees on Cash Deposits till April The Central Bank of Nigeria (CBN), on Monday, announced the suspension of the processing fees on cash deposits charged banks and other financial institutions till April, 2024. The suspension is contained in a circular signed by Dr Adetona Adedeji, the Director, Banking Supervision, and addressed to […]