The Nigeria Extractive Industries Transparency Initiative (NEITI) released a report revealing that the federal, state, and local governments shared a total of N10.143 trillion from the federation account as statutory revenue allocations in 2023. The report, presented by NEITI’s Executive Secretary, Orji Ogbonnaya Orji, aims to enhance public understanding of federation account allocations and promote…
The Central Bank of Nigeria (CBN) has announced that its 294th Monetary Policy Committee (MPC) meeting will take place on March 25 and 26, 2024. This announcement comes amidst the backdrop of continued inflationary pressures in Nigeria. In its previous meeting on February 26 and 27, the MPC decided to raise interest rates by 400…
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has issued a stern warning to the newly inaugurated Permanent Secretaries of the FCT Administration, cautioning them to perform their duties diligently or face dismissal. Wike delivered the warning following the inauguration of the Chairman and Commissioners of the FCT Civil Service Commission, FCT…
SaharaReporters previously disclosed that Senator Abdul Ningi, who is currently suspended, alleged two weeks ago that the Senate leadership inflated the 2024 budget by N3.7 trillion. As scrutiny into the alleged padding of the 2024 budget by the National Assembly continues, it has been revealed that N47.5 billion was earmarked in the Ministry of Education’s…
A Federal High Court in Abuja has granted an interim order requiring Binance Holdings Limited to provide the Economic and Financial Crimes Commission (EFCC) with comprehensive data of all Nigerian traders on its platform. This order aims to assist the anti-graft agency in investigating alleged money laundering and terrorism financing activities on the cryptocurrency exchange…
The Central Bank of Nigeria (CBN) has disclosed that N2.126 trillion remains unpaid from its intervention program, sourced from the Cash Reserve Ratio (CRR) of deposit money banks (DMBs). This amount is part of the N2.408 trillion total loan disbursed to subnational governments and businesses across Nigeria since the program’s inception in 2018. However, only…
The Kaduna State Government has announced a substantial allocation of N11.4 billion for the distribution of the second batch of palliatives. Governor Uba Sani stated that the government is committed to providing relief to the poor and vulnerable in the state, with plans underway for the third phase of the palliative programme in the coming…
The Federal Civil Service Pensioners Branch (FCSPB) has urged the Federal Government to immediately fulfill its promise of paying the N25,000 wage award to pensioners. The call was made by Mr Sunday Omezi, President of the association, during a news conference in Abuja. Omezi expressed disappointment over the government’s failure to honor its commitment, highlighting…
The Central Bank of Nigeria (CBN) has made a significant contribution to the agricultural sector by donating over 2 million bags of fertilizers, valued at N100 billion, through the Federal Ministry of Agriculture and Food Security to farmers. The donation was made during a ceremony in Abuja, where CBN Governor Yemi Cardoso handed over the…
Public Affairs Analyst Mr Chukwudi Enekwechi has lauded President Bola Tinubu’s recent visit to Qatar, stating that it has opened up new avenues of opportunity for Nigerians. Enekwechi emphasized the visit’s potential for enhancing tourism and business collaborations between the two nations. President Tinubu’s visit, in response to an invitation from His Highness, Sheikh Tamim…