Governors to Meet Over Financial Autonomy for State Legislature, Judiciary

EconomyGovernors to Meet Over Financial Autonomy for State Legislature, Judiciary

Beloved John (Staff Writer)May 18, 2021

To deliberate on the executive order which grants financial autonomy to the state legislature and judiciary, all teleconferences have been scheduled for all governors. The conference which is to hold on Wednesday will also address the measures in place to prevent a third wave of COVID-19 infections in the country. This development was disclosed on Monday in a statement signed by Abdulrazaque Bello-Barkindo, head of media and public affairs of the Nigeria Governors’ Forum (NGF)....

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Nigeria Labour Congress Grounded Economic Activities In Kaduna State

JobsLabourNewsNigeria Labour Congress Grounded Economic Activities In Kaduna State

Hassan Umar Shallpella (Regional Correspondent)May 17, 2021

Economic activities in Kaduna State have been grounded following a five-day warning strike embarked on by the Nigeria Labour Congress (NLC) over sacking of civil servants by the Governor Nasir El-Rufai-led government. NLC declared strike after the government failed to reverse the mass sack of workers. Kaduna State secretariat, which houses about 10 ministries, is under lock and key, banks, filling stations, shops, offices both public and private, markets as well as other commercial activities...

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NGX Opens Week With 0.44% Loss

BusinessInvestingNGX Opens Week With 0.44% Loss

PilotnewsMay 17, 2021

The Nigerian stock market began trading for the week on Monday with 0.44 per cent loss, amid losses recorded by some blue chips. Specifically, the All-Share Index decreased by 175 points or 0.44 per cent to close at 39,306.47 from 39,431.47 achieved on Friday. Similarly, the market capitalisation which opened at N20.579 trillion lost N92 billion to close at N20.487 trillion. The downtrend was driven by price depreciation in medium and large capitalised stocks amongst...

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President Buhari To Attend African Finance Summit In Paris

AfricaEconomyPresident Buhari To Attend African Finance Summit In Paris

Hassan Umar Shallpella (Regional Correspondent)May 16, 2021

Nigeria’s President, Muhammadu Buhari will on Sunday depart Abuja for Paris, France, on a four-day official visit to attend African Finance Summit. The Summit will be focused on reviewing the African economy, following shocks from the Coronavirus pandemic, and getting relief, especially from increased debt burden on countries. Garba Shehu, Senior Special Assistant to the President (Media & Publicity) in a statement on Saturday said the Summit will be hosted by President Emmanuel Macron. The...

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Three Years After, Experts Evaluate Nigeria-China Currency Swap

ChinaMoneyNigeriaThree Years After, Experts Evaluate Nigeria-China Currency Swap

Bada Yusuf Amoo (Correspondent)May 15, 2021

LAGOS — Some Financial Economists have expressed great concerns about the minor influence that the Nigeria-China currency swap had on the country’s economy, three years after. The experts told newsmen in Lagos on Friday that the volume of currency import so far traded, had not been significant, though a few swaps took place. The pact which marked three years of implementation in April was signed on April 27, 2018, to ease demand pressure on the...

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ICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

BusinessCorruptionLaw & JusticeICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

Hassan Umar Shallpella (Regional Correspondent)May 14, 2021

ABUJA — The Independent Corrupt Practices and other related offenses Commission (ICPC) has declared Gimba Kumo, former managing director of the Federal Mortgage Bank of Nigeria a son-in-law of President Muhammadu Buhari, and two others wanted over alleged misappropriation of $65 million National Housing Funds. In the notice signed by its spokesperson Azuka Ogugua, the ICPC declared Mr. Kumo wanted alongside Tarry Rufus and Bola Ogunsola over the alleged fraud. “The persons whose pictures appear...

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Buhari Vows to Control Nigeria’s Insecurity Amidst Uncertainty

EconomyNational SecurityNigeriaBuhari Vows to Control Nigeria’s Insecurity Amidst Uncertainty

Beloved John (Staff Writer)May 14, 2021

ABUJA — In a major step toward addressing the heightened insecurity across the nation, President Muhammadu Buhari has pledged to put every available resource to use in the fight against insecurity in Nigeria. In a statement by his spokesperson, Garba Shehu, the president linked the activities of the bandits to food security. He affirmed that the violent attacks will be addressed to ensure the nation’s food security is not threatened. “Mr. Buhari has been criticized...

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Adamawa State Government To Liquidate Its Share With N150m

EconomyNewsNigeriaAdamawa State Government To Liquidate Its Share With N150m

Hassan Umar Shallpella (Regional Correspondent)May 7, 2021

YOLA — The Adamawa state Executive Council has approved the one hundred and fifty million naira (N150m) representing thirty percent (30%) to liquidate its share of an outstanding indebtedness incurred by the previous administrations. Dr. Umar Garba Pella, Commissioner of Information and Strategy disclosed this while briefing newsmen shortly after the meeting explained that the council deliberated extensively on the direction of the state where approvals were made. “The present administration inherited nonperforming debt on...

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Refinery Rehabilitation: NNPC Tasks Contractor On Project Completion

BusinessNewsOil & GasRefinery Rehabilitation: NNPC Tasks Contractor On Project Completion

PilotnewsMay 6, 2021

PORT HARCOURT — The Nigerian National Petroleum Corporation (NNPC)  has tasked the Contractor to rehabilitate the Port Harcourt Refineries Companies (PHRC) to ensure completion of the project at the estimated time frame. The Group Managing Director, Malam Mele Kyari disclosed this at the kick-off meeting of the Rehabilitation of PHRC, in Port Harcourt, on Thursday. The News Agency of Nigeria reports that the meeting signified the take-off of the rehabilitation project. The PHRC operates two refineries;...

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Senate Directs Nigeria Customs Service To Seized Goods To Traders

BusinessNewsSenate Directs Nigeria Customs Service To Seized Goods To Traders

Hassan Umar Shallpella (Regional Correspondent)May 5, 2021

The chairman, Senate Committee on Ethics, Privileges and Public Petitions Senator Ayo Akinyelure has asked the Nigeria Customs Service to return the goods it seized from shops of rice traders in Ibadan, Oyo State. The committee’s chairman stated this after his panel heard a petition from the rice traders. The traders had, through Senator Kola Balogun (Oyo South), petitioned the Senate, alleging that men of the Nigerian Customs invaded Oja Oba and Bodija markets in...

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