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Share on Facebook Tweet on Twitter At least 10 Nigerian soldiers were killed by a mine planted by Boko Haram on 14 April while the country was remembering the Chibok girls, Cameroonian newspaper, L’Oeil du Sahel, has reported, but the Nigerian Army said nothing about the dead. L’Oeil du Sahel said 11 other Nigerian soldiers were […]Read More

Minister of Science and Technology, Dr. Ogbonnaya Onu, has stated that Nigeria requires appropriate infrastructure to attain its economic diversification goal. He made this statement while receiving the Working Group from National Quality Infrastructure Project led by Prof. Abimbola Uzomah. The Minister said that Nigeria must beef up its infrastructure before it can experience real […]

The Senate, Wednesday, suspended the ongoing amendment of the Code of Conduct Act earlier referred to its committees on Judiciary and Ethics, Privileges and Public Petitions last week. The occupants of the red chamber also resolved to suspend amendment of Administration of Criminal Justice Acts (ACJA). Similarly, the report of the Ethics Committee on Kabiru […]

A significant drop in net gains on financial instruments classified as held for trading has dampened first quarter profit of Guaranty Trust Bank Plc as Nigeria’s largest lender by market value struggles with a slow growing economy. The lender’s net income fell by 3.57 percent to N25.61 billion in March 2016, from N26.56 billion as at […]Read More

Since the Central Bank of Nigeria, CBN introduced capital controls as a center piece of its currency policy, the value of the naira has plummeted by over 38% at the black market. The CBN introduced capital controls as a way to limit the access to forex and therefore direct utilization of forex to sectors that […]

What is Currency Swap? Simply put, it is an agreement between two parties to swap their currencies without involving a third party and thus avoiding a risk of changes in third party currency. In this case, it is an arrangement between Nigeria and China, which have substantial or increasing trade, to basically involve trading in their […]

The Federal Government plans to begin payment of staff salaries by the 25th of every month. This is the latest directive given by President Muhammadu Buhari. Accountant-General of the Federation (AGF), Ahmed Idris made this disclosure in an interview with journalists in Abuja. Idris said that government was working on a new arrangement, which, if […]

The Minister of Budget and Planning has revealed that President Muhammadu Buhari “needs more time to check the 2016 budget bill before signing it” according to a report from Reuters. The budget has been with the Presidency for over two weeks now and was submitted before Buhari went for his trip to China two weeks […]

Minister of State for Petroleum Resources, Ibe Kachikwu, has once again assured Nigerians that the current scarcity of Premium Motor Spirit (PMS), also known as petrol, will end by next week. Speaking to newsmen on Wednesday at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, the minister was […]

The Federal Government will suspend further negotiations with South Africa’s MTN over a $3.9 billion fine for missing a deadline to disconnect unregistered SIM card users until the House of Representatives concludes a probe, Minister of Communications, Adebayo Shittu told pressmen after the Federal Executive Council meeting, held at the Presidential Villa on Wednesday. The […]

The Federal Inland Revenue has declared that it will do everything within its control to achieve its tax collection target of N4.9 trillion for 2016. To achieve this target, the Inland Revenue has declared that it will be focusing on the informal sector mostly dominated by corner shops, small businesses and startups. It appears the […]

Several weeks ago when we reported on the latest territorial losses by ISIS and the curious disappearance of the “war against ISIS” from the media’s front pages, we said that this was the expected outcome of the recent Russian airborne military operations over northern Syria which had destroyed much of the Islamic State’s oil infrastructure […]Read More