The candidate of the Labour Party in the 2023 presidential election, Peter Obi, has expressed support for the suspension of Dr Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation. Obi also welcomed President Bola Tinubu’s directive that the suspended minister and the activities of the ministry under her should be probed. Edu is…
Operatives of the Economic and Financial Crimes Commission (EFCC) are currently at the Lagos head office of the Dangote Group. They are conducting a search on forex allocations to the company during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN). Dele Oyewale, the EFCC spokesman, declined comments when contacted…
Former Senator, Shehu Sani, has described President Bola Tinubu’s New Year speech as a native doctor’s words of hope to a sick person. Addressing the nation on Monday, Tinubu among other things, announced plans to ensure a constant supply of affordable food to Nigerians. According to him, his administration is working hard to alleviate the…
The President Bola Tinubu-led Nigerian government has stated that the immediate past Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, would have been killed by a firing squad if it happened that he was living in China. This was stated by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga while reacting…
Whenever regulatory agencies and law enforcement bodies in Nigeria identify and nab counterfeiters, whether of foods and beverages or designer brands, phones, electronics or pharmaceuticals, we should not just send them to jail and throw away the keys. Instead, we should have an agency to legitimise these people. If you can counterfeit the real thing,…
The Nigeria National Petroleum Corporation Limited is not transparent about the financial gains from fuel subsidy removal, the World Bank has disclosed. This extends to subsidy arrears that are still being deducted and the impact of subsidy removal on federation revenues, the bank noted. The Washington-based made this call in its Nigeria Development Update, December…
The Central Bank of Nigeria (CBN) has stated that Nigerians aspiring to secure admission to foreign universities spent about $340.84 million on application fees between January and June 2023. The figure marked a notable fall of 44.28 percent when compared to the previous quarter. According to the data, which detailed records on expenditure for educational…
For billionaire Aliko Dangote, these are not the best of times. Recall that the President set up a team led by former FRCN boss, Jim Obazee to look into the books of CBN and other organizations. The Obazee Committee was said to have submitted its interim report to the President some weeks ago and since…
Abia State Governor, Dr Alex Otti, has announced plans for the first-ever seaport in South Eastern Nigeria. The project which will be located in Owazza, Ụkwa East LGA Abia state, has been flagged-off on 30th September 2023. Governor Otti made this announcement at the South-East Security Summit in Owerri, Imo state. The Governor also announced…
We have sold forward FX contracts so some of our future FX earnings are encumbered. Essentially, some of the FX we are yet to earn does not belong to us. Under the infrastructure tax credit scheme, some of our major company income tax payers were awarded roads to either rehabilitate or construct and are entitled…
