In a notable move, the Central Bank of Nigeria (CBN) has pressed the pause button on accepting new loan applications under its Development Finance Intervention Programme. A circular titled “Suspension of Acceptance of New Applications under the Existing Central Bank of Nigeria, CBN Development Finance Intervention Programme” was issued to bank Chief Executives, marking a…
In a significant development, the Nigerian government has made a groundbreaking decision to exclude tertiary institutions, including universities, polytechnics, colleges of education, and monotechnics, from the use of the Integrated Personnel Payment System (IPPIS) for staff salary and allowance payments. The announcement was made by the Minister of Education, Tahir Mamman, who addressed State House…
The political landscape in Rivers State is witnessing a seismic shift as the House of Assembly recently took a decisive move to declare vacant the seats of 25 members who defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The motion, which gained unanimous support during Wednesday’s plenary, was led by…
Ondo State’s political landscape has been anything but calm recently, with Acting Governor Lucky Aiyedatiwa making headlines as he returned to the state just two days after a crucial meeting with President Bola Tinubu at the Presidential Villa in Abuja. Aiyedatiwa’s return follows the Ondo State House of Assembly’s declaration of him as the acting…
A seismic shift has occurred in Nigeria’s aviation landscape as President Bola Tinubu sanctioned the suspension, removal, and replacement of Chief Executive Officers within the Federal Ministry of Aviation and Aerospace Development. At the forefront of this transformation is the Federal Airports Authority of Nigeria (FAAN), where the former Managing Director, Mr. Kabir Yusuf Mohammed,…
During a session with the House of Representatives Committee on Appropriation, Finance Minister and Coordinating Minister of the Economy, Wale Edun, assured that the administration of President Bola Tinubu would prioritize transparent accounting for oil revenue. Edun emphasized the importance of effective monitoring of oil revenue and its systematic payment into the federation account. Edun…
The Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, has affirmed the bureau’s dedication to maximizing the value of Federal Government assets through private sector investments. Speaking at a media event in Abuja, Okoh emphasized the importance of reducing reliance on borrowing and promoting private sector participation to fund the government’s fiscal plans….
A shocking incident unfolded on Sunday as bandits launched an attack on Gbaupe, a rural village located behind ACO Estate along the Abuja Airport Road. The attackers kidnapped 12 individuals, among them a 9-year-old boy and a 13-year-old girl. According to an eyewitness, the harrowing event took place in the early hours of December 11th….
The Federal Government has announced its intention to restructure the Transmission Company of Nigeria (TCN) to align with the Electricity Act 2023 and address industry demands. Minister of Power, Adebayo Adelabu, revealed this during the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Plan in Abuja. Adelabu outlined the proposed restructuring, suggesting…
Governor Alex Otti of Abia State has laid out his vision for the future with the presentation of the 2024 state budget, titled “A New Beginning,” before the Abia State House of Assembly in Umuahia. The budget, amounting to N567,240,095,972, is strategically allocated, with a significant 84 percent earmarked for capital project expenditure and the…