CBN disburses $61m to foreign airlines to settle mature foreign exchange backlog
The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali in Abuja on Sunday, the disbursement is in fulfilment of CBN’s commitment to eliminate the backlog of pending matured […]
President Tinubu orders investigation into Betta Edu’s humanitarian funds scandal
President Bola Tinubu has ordered investigation into alleged payment of funds into a private account by the Ministry of Humanitarian Affairs and Poverty Alleviation headed by Ms Betta Edu. The Minister of Information and National Orientation, Mr Mohammed Idris who disclosed this in a statement issued on Sunday, stressed that the Tinubu’s administration is committed […]
CAF raises AFCON winner prize money to $7m
The Confederation of African Football, CAF, has announced a substantial 40% increase in prize money for the upcoming Africa Cup of Nations, AFCON, in Cote d’Ivoire. Ahead of the competition which runs from January 13th to February 11 in Ivory Coast, CAF took to its website to release a statement about prize money of USD […]
UN report says Africa’s growth to increase in 2024
Africa’s growth rate is projected to slightly increase from 3.3 per cent in 2023 to 3.5 in 2024, while global growth is expected to slow down. Global growth is expected to slow down from 2.7 per cent in 2023 to 2.4 per cent in 2024. The UN’s World Economic Situation and Prospects (WESP) report for […]
NPF orders for immediate suspension of the activities of POCACOV
The Nigeria Police Force has ordered the immediate suspension of the activities of the Police Campaign Against Cultism and Other Vices (POCACOV), a community policing initiative and public relations tool within the Force Public Relations Department of the Nigeria Police Force. Acknowledging the crucial role of POCACOV in advancing community engagement and tackling social vices, […]
FG directs OAGF to commence 50% deduction from IGR of FGOEs
In a move to plug leakages and shore up revenue, the federal government has directed the Office of the Accountant General of the Federation (OAGF) to immediately commence the presidential directives on 50 per cent automatic deduction from the internally generated revenue (IGR) of Federal GovernmentOwned Enterprises (FGOEs). The CRF is an account in which […]
FG promises to deliver the uncompleted section of Abuja-Kaduna expressway
The Federal Government has once again, promised to deliver the uncompleted section of the Abuja-Kaduna before the end of the year. Speaking in a meeting with all directors of the ministry yesterday in Abuja, the Minister of Works, David Umahi, assured that the ministry is ready to conquer all contractual obstacles and ensure delivery of […]
Federal Government extends free train rides till January 7
The Federal Government has extended the free rides for commuters on all train services to Sunday, January 7, 2024. The Nigerian Railway Corporation had announced the commencement of the free train ride on Thursday, December 21, 2023 for all its passenger services, following the directive of President Bola Tinubu. The announcement indicated that the free […]
Alhassan Yusuf Replaces Injured Wilfred Ndidi, ahead of AFCON
Royal Antwerp midfielder, Alhassan Yusuf, will now replace the injured Leicester City’s Wilfred Ndidi as the Super Eagles prepare for the Africa Cup of Nations to be held in Cote d’Ivoire. Team spokesman Babafemi Raji yesterday disclosed that Ndidi has been replaced by the 23-year-old uncapped Yusuf, after Ndidi missed his team’s runaway Championship leaders […]
Sierra Leone’s ex-president Bai Koroma, charged with treason
Sierra Leone’s ex-President Ernest Bai Koroma has been charged with four offences including treason for his alleged role in a failed military attempt to topple the West African country’s government in November. A court in the capital Freetown affirmed this yesterday, although the decision could escalate tensions in Sierra Leone coming after the attempted coup […]