archiveFebruary 2017

Following the recent decline in oil prices, federation account allocations to states have dropped by an average of about N2 billion monthly per state, which partly explains their inability to meet some basic recurrent expenditures including payment of workers’ salaries. As a result of this, the government of Lagos has...

The Central Bank of Nigeria (CBN) has debunked claims that about 20 per cent of the naira notes in circulation were counterfeit. The CBN in a statement on Tuesday said that the security features in the currency had made it difficult for the naira to be counterfeited and that less...

Minister of Budget and National Planning, Senator Udoma Udo Udoma says the Federal Government does not have any intention of increasing taxes, but only working towards increasing its Internally Generated Revenue (IGR) through the broadening of the tax base. Udo Udoma made this clarification in a statement signed by his...

The Nigerian Stock Exchange (NSE) closed negative on Tuesday when the major indicators, All-Share Index and market capitalisation depreciated by 0.84 per cent respectively. The All-Share Index closed at 25,032.17 basis points after it depreciated by 121.12  basis points or 0.84 per cent from 25,244.29 basis points it closed on...

The African Export-Import Bank (Afreximbank) and Ecobank Transnational Incorporated (ETI), have signed a Memorandum of Understanding (MoU) to promote $500 million  joint corporate objectives through the financing of private sector projects and trade finance transactions, focusing particularly on transactions involving trade and investment in Afreximbank member countries where Ecobank also...

The Minister of Finance, Mrs. Kemi Adeosun on Tuesday said the Federal Government was determined to expand the coverage of the Treasury Single Account (TSA) to cover more agencies in 2017. Speaking in Abuja at the opening of a two-day retreat on the TSA, the Minister, who described the implementation...

Bayelsa State Governor, Henry Seriake Dickson in Yenagoa on Tuesday celebrated the first year of his re-election and five years in office as the governor, with a pledge to lift embargo on employment into the civil service and broaden the scope of governance by rewarding those who worked for him....

...culprits plead for forgiveness Security agencies in Bayelsa State have apprehended two truckloads of cattle been taken to two Local Government Areas of the State and their owners. The arrest came barely 48 hours after the State government designated Bayelsa Palm Area for cattle grazing by Fulani herdsmen. A terse...

Sometime in May of 2016, Lagos State, alongside Enugu State and hundreds of other cities around the world was nominated by the Rockefeller Foundation in the 100 Resilient Cities project. The project is dedicated to helping cities around the world become more resilient to the physical, social and economic challenges...

The Federal Government on Monday in Abuja inaugurated a 14-man committee chaired by Dr. Wale Babalakin (SAN) to end incessant and protracted strikes in Nigerian tertiary institutions, with a declaration that it does not see the unions as an enemy. The committee is expected to re-negotiate the 2009 agreement between...