2023: FG, states budget N19.16trn on salaries, pensions, others
*Earmark N11.4tr for capital projects, S/West top zones with N3.073tr *N/Central least with N1.068tr lImo budget awaiting presentation to House of Assembly *Lagos State budget more than that of South-East, North-East, North-West, and North-Central zones *FG budgets N6.31 trillion or 30.8 per cent of its total expenditure for debt service in 2023 The Federal and 35 of the 36 state governments, including the...
NEITI: 619.7m Barrels of Crude Oil Valued at N16.25trn Lost to Theft, Sabotage in 12 Years
•Calls for special panel on Glencore scandal indicting Nigerian officials As the federal government continues to search for a lasting solution to the bleeding in the oil sector, the Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday revealed that in the period spanning between 2009 and 2020, Nigeria lost as much as 619.7 million barrels of crude oil valued at N16.25...
Biden Announces $350m to Facilitate Digital Transformation in Nigeria, Others
•Afreximbank, US Eximbank sign $500m MoU to boost US-Africa trade •Africa is confronted with internal, external trade barriers, says Elumelu President Joe Biden of the United States of America has announced the commitment of $350 million to facilitate digital transformation in Africa. According to Biden, such intervention would help to make sure more people across Africa participate in the digital economy. He stated...
NEF: People Being Made to Give Up PVCs for N2, 000, Alleges Voter Suppression in North
•Claims different parties involved in plot •Says INEC has allayed its fears •Our system entertains no impostor, electoral body assures •FG commends Meta’s plan to protect integrity of 2023 election The Northern Elders Forum (NEF) has alleged that millions of voters in the region, particularly, women are being made to surrender their Permanent Voter Cards (PVCs) for N2, 000 by some political parties...
Banks’ earnings from account maintenance, transfer charges rise to N621bn
Leading banks in Nigeria have raked in N620.89 billion in the third quarter of this year, Q3’22 from fees and commission income, representing a 21.5 percent higher than N510.99 billion they made under same income line in the corresponding period 2021. The banks include Zenith Bank Plc, Access Bank Plc, First Bank, Stanbic IBTC Holdings Plc, United Bank for Africa...
Banks reconfigure ATMs, new naira enters circulation today
The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter payments. This came about three weeks after the President, Major General Muhammadu Buhari (retd), unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa. The President unveiled the redesigned notes across the...
Petrol: NNPC slashes price for marketers to ease scarcity
…Oil marketers promise compliance …End scarcity in one week — REPS …Marketers set up a committee to track product delivery, demand 60% of daily product allocation …Sign an agreement with FG to ensure the availability of the product The Nigerian National Petroleum Company Limited, NNPCL, yesterday, adopted new measures aimed at guaranteeing adequate fuel supply across the country, by fixing N148 per litre...
Presidency knocks Kazaure over N89tn stamp duty claim
Following controversies trailing a claim of a missing N89.09tn allegedly siphoned from stamp duty charges, the Presidency on Tuesday said such claims were false. It also said the entire banking sector deposits in Nigerian did not amount to half of N89tn. “It is now evident that the consultants and petitioners’ claims of a missing N89tn from stamp duty appears false and...
Police debunk discovery of decomposed naira notes in Benue
….says owner of ‘waste papers’ already questioned The Benue State Police Command has debunked a video trending on social media purported to be bags of rotten naira notes discovered in a store at the Police Barracks in the Wadata area of Makurdi town. In the said video, some residents of Wadata were seen pulling out bags of what looked like decomposing...
Killers of Unilorin student bag death sentence
The trial judge, Justice Ibrahim Yusuf, who handed down the judgment, convicted the 1st, 2nd and 3rd suspects; Abdulazeez Ismail, Ajala Oluwatimileyin and Oyeyemi Omogbolahan, for the offences of culpable homicide and armed robbery, ordering that they should die by hanging. “I direct you Abdulazeez Ismail, Ajala Oluwatimileyin and Oyeyemi Omogbolahan, should be hanged by the neck until you’re pronounced...
