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Tuesday, 31 October 2023 05:38

FEC approves submission of N2.17trn supplementary budget to N’Assembly

Federal executive council (FEC) has approved the submission of a supplementary budget of over N2.17 trillion to the national assembly. The council gave the approval on Monday at its weekly meeting presided over by President Bola Tinubu. At its last meeting, FEC had proposed the sum of N26 trillion for the 2024 budget, which will be submitted to the national assembly before December 31. Atiku Bagudu, minister of budget and economic planning, said the council had approved the 2024-2025 medium-term expenditure framework (MTEF) and fiscal strategy papers (FSP) at the FEC held last Monday in Abuja. The national assembly’s approval…

Tuesday, 31 October 2023 05:34

State Assembly workers begin nationwide strike over financial autonomy to state legislatures

Members of the Paliamentary Staff Association of Nigeria (PASAN) has embarked on a nationwide strike over delay in granting financial autonomy to state assemblies. On Monday, the Sokoto, Nasarawa, Katsina, Abia, Anambra and Jigawa chapters of the association shut down the houses of assembly in their respective states. The union had given state governments a 21-day ultimatum and further extended it to one week. In May 2020, former President Muhammadu Buhari signed an executive order granting financial autonomy to the legislature and judiciary across the 36 states of the country. However, the former president suspended the gazetting of the order…

Tuesday, 31 October 2023 05:33

Constitutional lawyer and academic, Ben Nwabueze is dead

Constitutional lawyer and pioneer Secretary-General of Ohanaeze Ndigbo Worldwide, Ben Nwabueze, has passed on at the age of 94. On behalf of the family, Eni Nwabueze said burial arrangements for the Senior Advocate of Nigeria (SAN) would be announced in due course. “With great sadness, we announce the passing on of our patriarch, Ben Nwabueze, pioneer Secretary-General of Ohanaeze Ndigbo and Oduah Afo-na-Isagba of Atani, Anambra State, who died in his Lagos apartment about 4.00p.m. on Sunday, October 29, 2023, aged 94. He lived an exemplary life of consequence,” the statement read. Anambra Commissioner for Information, Paul Nwosu, also confirmed…

Monday, 30 October 2023 04:55

Germany eyes imports of Nigerian natural gas in Scholz visit - Bloomberg

Germany is eyeing imports of natural gas from Nigeria in an effort to secure and diversify its energy supply, Chancellor Olaf Scholz said during a visit to the country. “This will also have an impact on the global gas price,” Scholz said in the Nigerian capital Abuja on Sunday after a meeting with president Bola Tinubu. If more states offered gas on the global market, prices would decrease, the German leader said. “It is important to use the capacities where they are, and that we diversify production all over the globe,” Scholz added. Tinubu said that given Nigeria’s sizable resources,…

Monday, 30 October 2023 04:54

Nigeria is awash with dangerous pesticides - The Economist

For quite a while, Nigeria has been talking up its desire to end its reliance on oil money and earn more from other sources, especially farming. Its population of around 213m, the biggest in Africa, has some 37m hectares of fertile land. But it grows too little on it. Worse, some of its produce isn’t healthy. Food exported to Europe and America has been rejected because of its excessive residue of pesticide. To feed Nigeria’s own people, let alone markets abroad, farmers will have to cut back on their use of some chemicals. That will not be easy, since Nigeria…

Monday, 30 October 2023 04:53

Boat with over 100 passengers capsizes in Taraba

A boat carrying over 100 passengers capsized mid water at Benue river on Saturday. Traders, women and children, heading for Binnari town in Karim-Lamido local government area of the state were on the ill-fated boat. Many of the passengers were returning from Mayoreneyo fish market in Ardo-Kola LGA. The boat left Mayoreneyo local jetty at about 3.30pm and capsized 40 minutes later, according to sources. A resident of Mayoreneyo, Musa Mayoreneyo, told our correspondent that the ill-fated boat had earlier conveyed the passengers from Binnari to Mayoreneyo. In a telephone interview, a resident of Binnari, said, “As l am talking…

Sunday, 29 October 2023 04:38

Political patronage, nepotism, Lawan, Uzodimma - 7 key things retired Supreme Court Justice said in trending speech - Daily Trust

After 47 years in the judiciary, Musa Dattijo Muhammad took a bow on Friday, October 27, 2023. The high and mighty attended his valedictory session which has refused to leave the media space long after His Lordship thanked his audience for their time and patience. It’s been a while that a retiring judge hit the nail on the head the way he did. Just weeks back, Chidi Odinkalu, human rights lawyer, penned the hard-hitting piece, ‘A Captured Temple of Justice’, where he highlighted what could ordinarily pass for as the dark days of the judiciary. From a hall in Abuja,…

Saturday, 28 October 2023 04:54

The judiciary ‘has become something else’, retiring Supreme Court justice says in condemnation of lopsided panel that decided Atiku, Obi’s appeals against Tinubu

A retiring justice of the court, Musa Dattijo Muhammad, who reportedly pulled out from the seven-man panel that dismissed all the appeals that sought to remove President Tinubu from office, has accused the Chief Justice of Nigeria, CJN, Olukayode Ariwoola, of abusing the powers of his office. Muhammad, who spent 47 years in active judicial service, bowed out of the apex court bench on Friday, having clocked the 70 years mandatory retirement age. He used the opportunity of a valedictory session that was organised in his honour by the Supreme Court, to address what he observed as rots in the…

Saturday, 28 October 2023 04:52

What is pushing Naira to record lows? Here’s what we know

Nigeria's naira is on the brink of breaching 1,000 per dollar after falling to an official record low of 999 last week, Refinitiv data showed, tracing its weakness on the unofficial market where it trades freely. President Bola Tinubu removed Nigeria's foreign currency controls in June in a bid to get transactions flowing through the official market again to help unify the naira's exchange rates. But that has only fuelled the currency's weakness and added to inflationary pressures. Here is what you need to know about the naira. WHY IS THE NAIRA FALLING? The central bank has a backlog of…

Saturday, 28 October 2023 04:51

Firms named in FG’s advertised ‘lithium breakthrough’ are copycat Chinese companies - Report

The investors who are backing the recent $250 million lithium project have been found to be copycats and not affiliated with the China-based companies bearing the same name as these copycat companies as revealed by Bloomberg in an October 27 report. According to Bloomberg, Ganfeng Lithium Industry Ltd., Tianqi Lithium Industrial Ltd. and Ningde Era Industrial Ltd. have nothing to do with three nearly identically named behemoths listed on the Shenzhen and Hong Kong stock exchanges. Instead, they were founded recently and registered in Nigeria as independent companies. Difference between the original and copycat companies According to Corporate Affairs Commission…

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Friday, 27 October 2023 04:59

Court nullifies FG’s proscription of IPOB, says ‘self-determination not a crime’

An Enugu High Court, presided over by Anthony Onovo, has voided the proscription of the Indigenous People of Biafra (IPOB) as a terrorist organisation. The Federal Government under Muhammadu Buhari had, in 2017, proscribed the secessionist group, while the leader, Nnamdi Kanu, was clamped into detention. The court, yesterday, also declared that self-determination was not a crime and should not, therefore, be used as a basis to arrest, detain and prosecute the IPOB leader. Kanu, through his Special Counsel, Aloy Ejimakor, had in January this year, approached the court to seek nullification of the proscription and terrorist tag on the…

Thursday, 26 October 2023 04:44

Nigeria ranks low in global Rule of Law index - Report

Nigeria is ranked 120th of the 142 countries in terms of adherence to rule of law, according to the latest global Rule of Law Index released by the World Justice Project (WJP). The 2023 index released on Wednesday in Washington DC, United States, also showed that out of the 34 countries ranked in the sub-Saharan region, Nigeria is rated 23rd. According to the WJP report, countries were judged on eight indicators, namely constraints on government powers, absence of corruption, open government, fundamental rights, order and security, regulatory enforcement, civil justice and criminal justice. While the report noted that Nigeria’s score…

Thursday, 26 October 2023 04:37

FAAC: FG, states, LGAs share N903bn for September

Federation account allocation committee (FAAC) says it shared N903.48 billion with the three tiers of government for September 2023. The figure represents a decrease of N196.52 billion compared to the August disbursement of N1.1 trillion. The committee disclosed this in a communiqué issued on Tuesday at the end of its October meeting in Abuja. According to the communiqué, the N903.48 billion was drawn from statutory revenue of N423.01 billion, value-added tax (VAT) of N282.66 billion, N10.98 billion from electronic money transfer levy (EMTL), and N186.81 billion from exchange difference. FAAC said “N54.426 billion was given to the cost of collection,…

Thursday, 26 October 2023 04:36

Former EFCC chairman, Bawa freed from DSS custody

Department of State Services has freed the embattled ex-Economic and Financial Crimes Commission boss, Abdulrasheed Bawa, after exactly 134 days spent in the custody of the secret police. Bawa was released from the national headquarters of the secret police, ‘Yellow House,’ in Abuja, Wednesday night. Bawa was arrested and detained by the DSS on June 14, 2023, following an invite over undisclosed reasons, after he visited President Bola Tinubu earlier on the same day. Our correspondent gathered that following Bawa’s arrest on June 14, 2023, he was probed for alleged financial impropriety during his years in the anti-graft agency. Sources…

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