The Abuja Electricity Distribution Company (AEDC) has issued a warning to disconnect the electricity supply of 86 Ministries, Departments, and Agencies (MDAs) over an accumulated debt of about N47.1 billion. Among the MDAs facing disconnection are the Ministry of Finance, Information, Budget, Works and Housing, barracks, Nigeria Police Force, Presidential Villa, CBN Governor, Economic and…
The Federal Government has commenced the payment of seized salaries to public university lecturers affiliated with the Academic Staff Union of Universities (ASUU). Comrade Nobert Oyibo Eze, the Chairman of ASUU at the University of Nigeria, Nsukka branch, confirmed this development to DAILY POST. “Yes, they have started paying. Even though I’m yet to receive…
The Federal High Court 2 in Minna has adjourned a N140 billion ground rent suit filed against North-South Power Company Limited and Mainstream Energy Solutions Limited to March 11. The suit, brought by the Niger State Internal Revenue Service in January, seeks to compel the companies to pay their outstanding ground rent, which has accumulated…
In January 2024, the Central Bank of Nigeria introduced the revised International Money Transfer Services Guidelines, signaling a significant step towards enhancing transparency and efficiency in foreign exchange transactions, diaspora remittances, and cross-border fund transfers. This overhaul, in line with the government’s Renewed Hope agenda, aims to revolutionize international money transfers while promoting prudential standards…
The Minister of Works, David Umahi, has called for an urgent meeting with major cement manufacturers in Nigeria to address the alarming increase in the cost of the product. The meeting, scheduled for Monday, February 19, 2024, will be held at the Ministry’s Conference Hall in Mabushi, Abuja. Expressing concern over the rising prices despite…
The Nigerian government has issued a stern warning to Fast-Moving Consumer Goods (FMCG) outlets across the country regarding deceptive pricing practices amidst the current economic challenges. Adamu Abdullahi, the Acting Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), issued the warning, emphasizing the need for transparent pricing information to empower consumers….
Traders at the Dawanau International Grains Market in Kano have refuted claims by the state government that they are hoarding food items, stating that the grains are stored temporarily before being sold to customers. Alhaji Muttaka Isa, President of the Dawanau Market Development Association (DMDA), addressed journalists, emphasizing that they are legitimate dealers who buy…
The Nigerian naira experienced a significant depreciation, closing at N1,537.96 against the US dollar at the official market on Friday. This marks one of the worst depreciations in recent times, with the naira crossing the N1,500 mark. Throughout the week, the exchange rate fluctuated between N1,500 and N1,515 per dollar before slightly strengthening on Thursday,…
President Bola Tinubu has issued a directive to the National Security Adviser Nuhu Ribadu, the State Security Service (SSS), and the Nigeria Police to crack down on food hoarders. This decision was made during a meeting with 36 state governors at the State House, where the president expressed concern over the escalating prices of food…
Human rights lawyer, Femi Falana SAN, has called on the Federal Government to consider joining the BRICS economic bloc to enhance Nigeria’s economic prosperity. Falana made this suggestion during an appearance on Channels Television’s Politics Today, highlighting the importance of reducing Nigeria’s dependence on the US dollar. BRICS, comprising Brazil, Russia, India, China, and South…