archiveJuly 2020

President Muhammadu Buhari on Wednesday presided over the eight virtual Federal Executive Council (FEC) meeting which started about 10am at the council chambers of the Presidential Villa, Abuja. Those attending the meeting included; Vice President Yemi Osinbajo (SAN); the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha;...

The suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has said that forfeited assets recovered by the agency, were auctioned to ministries and government agencies. The Attorney-General of the Federation (AGF), Abubakar Malami, had accused Magu of failing to account for recovered loot and assets,...

The President of the Senate, Ahmad Lawan, has asked the President, Muhammadu Buhari to ensure the submission of the 2021 national budget before the end of September this year. Lawan stated this while referring the 2021-2023 Median Term Expenditure Framework and Fiscal Strategy Paper, which were submitted to the federal...

The Central Bank of Nigeria (CBN) has announced N50 billion special mechanism funds to revive the ailing textiles industry. The funds to be administered by the Bank of industry (BoI) at 4.5 per cent interest rate will use any of the CBN-approved non-interest financing instruments for refinancing of projects, long-...

The Federal Government’s aggregate budget proposed of N12.6 trillion for the 2021 fiscal year, with a deficit of N5.16 trillion, will be partly financed by a loan package of N4.28 trillion. This was contained in the 2021- 2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), forwarded to...

The Christian Association of Nigeria (CAN) has declared that the Big Brother Naija (BBN) reality TV show, currently ongoing, should be scrapped because it is evil and promotes immorality. Stanley Dimkpa, Chairman of CAN in Rivers State, who made the call in a statement on Tuesday in Port Harcourt, said...

The Oyo State Executive Council on Tuesday approved the issuance of a N100 billion private bond to facilitate the execution of “priority projects” that will further drive economic development in the state. The bond christened “Oyo Prosperity Bond” is to be raised in two tranches of N50 billion each for...

Ekiti State governor Kayode Fayemi on Wednesday said he has tested positive for coronavirus. “I took my third Covid-19 test yesterday and it came back positive,” Fayemi tweeted. “I’m generally ok and I’m already self isolating at home and receiving the best of care from my medical team. “I’m delegating...

The newly inaugurated President of the Chartered Insurance Institute of Nigeria (CIIN) Mr Muftau Oyegunle, on Tuesday said that he would focus on a six-point agenda to meet the demands of members. Oyegunle said this at his investiture as the 50th President of the Institute in Lagos, held virtually. He...

Activities on the Nigerian Stock Exchange (NSE) on Tuesday maintained negative sentiment, with the All-Share Index (ASI) declining further by 0.39 per cent. Specifically, ASI, which opened at 24,269.58, dipped 95.13 points to close at 24,174.45. Similarly, the market capitalisation shed N50 billion or 0.39 per cent to close at...