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Tuesday, 20 June 2023 04:49

Tinubu dissolves governing boards of federal parastatals, agencies, companies

PRESS RELEASE President Bola Tinubu has approved the immediate dissolution of the Governing Boards of all Federal Government Parastatals, Agencies, Institutions, and Government-owned companies. The dissolution does not, however, affect Boards, Commissions and Councils listed in the Third Schedule, Part 1, Section 153 (i) of the 1999 Constitution of the Federal Republic of Nigeria as amended. In view of this development and until such a time new boards are constituted, Chief Executive Officers of the Parastatals, Agencies, Institutions, and Government-owned companies are directed to refer matters requiring the attention of their Boards to the President, through the Permanent Secretaries of…

Tuesday, 20 June 2023 04:45

Tinubu leaves for France on Thursday in first official trip abroad

President Bola Tinubu will on Thursday, June 22, join world leaders in Paris, France, to review and sign a New Global Financial Pact that places vulnerable countries on priority list for support and investment. Special Adviser to the President on Special Duties, Communication and Strategy, Dele Alake, announced this in a statement released on Monday on the first official trip. The President will be accompanied by members of the Presidential Policy Advisory Council and senior government officials to the summit. The summit, which will be hosted by President Emmanuel Macron of France, will be held at Palais Brongniart.Tinubu will participate…

Monday, 19 June 2023 03:52

De-dollarization: Afreximbank sets up mechanism for African countries to buy from each other using their own currencies

A pan-African payment system that would allow African nations to trade among themselves, using their own currencies, is gaining momentum. The African Export-Import Bank expects 15 to 20 countries to have joined the Pan-African Payment and Settlement System by the end of the year, Afreximbank President Benedict Oramah said in an interview ahead of the lender’s annual meetings in Accra, Ghana’s capital, that runs Sunday through June 21. The platform has started commercial operations with nine countries signed up so far, he said. The system, known as PAPSS, is using dollar exchange rates for now, said Oramah, whose bank funds…

Monday, 19 June 2023 03:51

CBN lifts restrictions on domiciliary accounts, sets new withdrawal limits

Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will no longer be restricted. The apex bank said this in guidance to Deposit Money Banks (DMBs) after a meeting with the bankers’ committee on Sunday. The guidance includes allowing all visible and invisible transactions to be eligible for the Investors’ and Exporters’ window, granting unrestricted access to funds in ordinary domiciliary accounts, and permitting cash deposits not exceeding $10,000 per day or its equivalent via telegraphic transfer. According to the CBN, the policy changes aim to promote transparency, liquidity, and price discovery in the FX market in…

Monday, 19 June 2023 03:49

Sultan declares June 28 Eidul Adha

Sultan of Sokoto and President of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Muhammadu Sa’ad Abubakar III, has declared June 19, 2023 as the first day of Dhul-Hijjah 1444 AH. This is contained in a statement Sunday night from the council. “The Sultanate Council Sokoto has declared Monday 19 June, 2023 as the first day of Zul-Hijjah 1444 AH.” “The Sultanate Council Sokoto has declared Monday 19 June, 2023 as the first day of Zul-Hijjah 1444 AH.” “Accordingly Wednesday 28 June, 2023 will be the day of Eidul Adha 1444 AH. His Eminence The Sultan of Sokoto, Muhammad Sa‘ad…

Sunday, 18 June 2023 03:29

Terrorists, bandits killed over 78,000 Nigerians in last 10 years - Report

No fewer than 78,148 Nigerians were killed across the country in the last 10 years, a security report says. A yearly breakdown of the killings according to a 2023 Nigeria Security Report by Beacon Consulting; a security risk management and intelligence consulting company, revealed that 11,389 Nigerians were killed in 2014; 11,119 in 2015; 4,896 in 2016; 4,949 in 2017; 6,162 in 2018; 5,948 in 2019; 8,459 in 2020; 10,887 in 2021; 10,754 in 2022; and 3,585 in 2023. Of the figure, 16,644 Nigerians were killed by terrorism; 8,475 Nigerians by banditry; 1,897 by farmers/herders clashes; and 1,410 Nigerians by…

Saturday, 17 June 2023 04:44

‘I’m left with nothing’: Nigerians bear brunt of Tinubu’s economic shakeup

Nigerians are feeling the strain as their new president pushes through a series of unpopular policies that have earned him praise from foreign investors. Bola Tinubu, who was sworn in on 29 May, has surprised many observers by taking a running start to his tenure of Africa’s most populous country. In little over two weeks he has banished a longstanding petrol subsidy, ejected the country’s central bank governor and ended restrictions on the rate of the naira, Nigeria’s currency. The steps have fired up markets, sending stocks in what is also Africa’s largest economy to their highest level in 15…

Saturday, 17 June 2023 04:41

NJC recommends appointment of 9 appeal court judges, 28 other judicial officers. Here are the new appointees

National Judicial Council (NJC) has recommended the appointment of nine candidates to the Court of Appeal bench and 28 other judicial officers. It said in a statement posted via its Twitter handle Friday that the council made the recommendations at its 102nd meeting, which was held between 14 and 15 June. The statement signed by the council’s director of information, Soji Oye, said the meeting presided over by the Chief Justice of Nigeria (CJN) and chair of the council, Olukayode Ariwoola, made the recommendations after considering the report of its Interview Committee. The report contained a list of 37 candidates…

Saturday, 17 June 2023 04:40

Police appoint 2 new DIGs, 14 AIGs, 22 CPs, others. These are the newly promoted officers

Police Service Commission has approved the appointments of Assistant Inspectors General of Police, Frank Mba and Bala Ciroma, as Deputy Inspectors General of Police. This was contained in a statement by the spokesperson for the PSC, Ikechukwu Ani, on Friday. Ani said that DIG Ciroma would replace DIG Ali Janga who retired from service and had represented the Northeast geopolitical zone in the Police Management Team, while DIG Mba would represent the Southeast zone and replace retired DIG John Amadi who before his retirement represented the zone. “DIG Ciroma, the most senior officer from the zone will henceforth represent the…

Saturday, 17 June 2023 04:39

Court orders DSS to give access to lawyers, family members to the suspended CBN gov

A federal capital territory (FCT) high court sitting in Maitama has ordered the Department of State Services (DSS) to allow Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), to have access to his lawyers and family. Hamza Muazu, presiding judge, gave the order on Friday after an application by Joseph Daudu, counsel to Emefiele. On June 9, President Bola Tinubu suspended Emefiele and asked him to transfer his responsibilities to Folashodun Adebisi Shonubi, deputy governor, operations directorate. On Saturday, the DSS announced that Emefiele was in its custody for “some investigative reasons”. Responding, I. Awo, counsel to…

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Friday, 16 June 2023 03:50

Nigeria’s inflation rose further still in May - NBS

The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.41 percent in May 2023, up from 22.22 percent in the previous month. The country’s May inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics (NBS). The latest figure is the fifth consecutive rise in the country’s inflation rate this year, as Nigerians adjust to the effects of the recent petrol subsidy removal. According to the NBS report, “in May 2023, the headline inflation rate increased to 22.41 percent relative to April…

Friday, 16 June 2023 03:49

Tinubu inaugurates NEC headed by Shettima

President Bola Tinubu yesterday inaugurated the National Economic Council (NEC) headed by Vice President, Kashim Shettima. The inauguration came a week after he directed NEC to meet to come up with interventions to mitigate the effects of the petroleum subsidy. He charged the council to support his administration in transforming the economic Fortunes of the country. He said the task of growing the nation’s economy is quite enomous adding that no excuse for failure. According to him, Nigerians want reforms and they want it quickly, adding, “we even begged and danced for the job.” Tinubu restated his administration’s commitment to…

Friday, 16 June 2023 03:48

Tinubu appoints Ribadu, Alake, 6 others as Special Advisers

PRESS RELEASE President Bola Tinubu has approved the appointment of the following as Special Advisers: 1). Dele Alake, Special Adviser, Special Duties, Communications and Strategy 2). Yau Darazo, Special Adviser, Political and Intergovernmental Affairs 3). Wale Edun, Special Adviser, Monetary Policies 4). Mrs Olu Verheijen, Special Adviser, Energy 5). Zachaeus Adedeji, Special Adviser, Revenue 6). Nuhu Ribadu, Special Adviser, Security 7). John Ugochukwu Uwajumogu, Special Adviser, Industry, Trade and Investment. 8). Mrs Salma Ibrahim Anas, Special Adviser, Health. Signed: Abiodun Oladunjoye, Director Information, State House, June 15, 2023

Friday, 16 June 2023 03:45

US sending $1bn yearly to Russia's nuclear program, despite pledging to cripple its economy with sanctions

US companies are sending $1 billion each year to Russia's state-owned nuclear agency, despite President Joe Biden pledging to cripple Russia's economy, according to a report in The New York Times. The payments for enriched uranium are one of the biggest sources of cash from the US to Russia since it was hit by wide-ranging sanctions for its invasion of Ukraine, the Times said. The money for enriched uranium is received by subsidiaries of Rosatom, Russia's state-owned nuclear agency, which has been running Ukraine's Zaporizhzhia nuclear power plant since its forceful capture in March 2022. US companies spent about $1…

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