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Tag Archives: business news

I Was The Best CBN Governor – Emir Sanusi


  The Emir of Kano, Alhaji Muhammad Sanusi II, has stated that he was the best governor of the Central Bank of Nigeria, CBN. Speaking in an interview with Financial Times, the monarch said he has earned his stars in every competitive environment. Sanusi, who was appointed CBN governor in June 2009 for a five-year term, said “I spent my life as a successful banker. ... Read More »

Discos Get N44.85bn Electricity Invoices, Remit N2.7bn


Power distribution companies received a total invoice of N44.85bn for the quantum of electricity they received in January this year but the firms remitted only N2.7bn. Documents obtained from the Nigerian Bulk Electricity Trading Company on the latest remittances by the Discos for power received in January 2018 showed that the firms had a combined remittance of 6.04 per cent in the month under review. ... Read More »

FG Developing Solar Energy City, Says Fashola


The Federal Government is currently developing a solar energy city, the Minister of Power, Works and Housing, Babatunde Fashola, has said. Fashola, who did not give details on how the government was going about the initiative, however, stated that the solar energy city was being developed in Jigawa State. The minister made the announcement in Abuja on Tuesday while inaugurating the 12-member Governing Council of ... Read More »

No Date For Passage Of 2018 Budget Yet – Senate


The Senate has said it is uncertain when the 2018 Appropriation Bill will be passed by the National Assembly. The legislature and the executive have been passing the buck on which arm of government is responsible for the delayed passage of the budget, which President Muhammadu Buhari laid before a joint session of the National Assembly on November 7, 2017. The Chairman, Senate Committee on ... Read More »

Senate Lifts Embargo On CBN Deputy Govs, MPC Members’ Confirmation


The Senate has approved that those nominated by President Muhammadu Buhari as deputy governors of the Central Bank of Nigeria, members of the board of the apex bank and members of the Monetary Policy Committee be screened for confirmation. Buhari had written to the Senate in December 2017, seeking legislative confirmation of the appointment of Mrs. Aishah Ahmad as a deputy governor of the CBN. ... Read More »

PIGB: We Won’t Sack DPR, PPPRA Workers, Says Kachikwu


The establishment of a new regulatory agency, the Nigeria Petroleum Regulatory Commission, as captured in the Petroleum Industry Governance Bill, will not lead to the mass retrenchment of workers in three agencies that are currently under the Federal Ministry of Petroleum Resources. According to the Minister of State for Petroleum Resources, Ibe Kachikwu, fears of a possible mass sacking when the three affected agencies are ... Read More »

Nigeria’s Economy Totally Out Of Recession – Udoma


The Minister of Budget and National Planning, Senator Udoma Udo Udoma, says he has presented a memo to the Federal Executive Council, FEC, on the recent release of economic performance of the country in the last quarter which showed that the Gross Domestic Product, GDP, grew by 1.92 percent. Udoma, who stated this while briefing State House correspondents on Wednesday, pointed out that the growth ... Read More »

Senate Summons British Company, BP Oil Over $3.3 Billion Questionable Oil Deal

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Senate Committee on Local Content has summoned a British firm, BP Oil International Limited over a $3.3 billion pre-financing crude oil deal that may have breached the Nigerian Oil and Gas Content Development Act 2010. Chairman of the Committee, Senator Solomon Adeola, said, the summon was necessary in view of complaints against the oil giant by a Nigerian firm, Alsaa Gas and Shipping Nigeria Limited, ... Read More »

External Reserves Hit $43.2bn, Says CBN


The nation’s external reserves hit $43.2bn on March 6, 2018, data obtained from the Central Bank of Nigeria showed on Wednesday. The foreign exchange reserves had recorded a four-year high at $42.76bn on March 2, after commencing this year at $38.77bn. The foreign reserves have gained about $3.99bn or 10.3 per cent this year. The reserves had moved from $38.77bn in December 2017 to $40.69bn ... Read More »

VAIDS: 262 Nigerians Paid N20bn In Eight Months, Says Fowler


A total of N20bn has so far been realised from 262 taxpayers who have declared their assets under the Voluntary Assets and Income Declaration Scheme by the Federal Government. The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler gave the figure on Wednesday night while featuring on a live television programme, ‘The Core’, which aired on Channels Television. The programme also featured the Minister ... Read More »

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