Friday, September 21, 2018

Oluwatoyin Bayagbon

    Femi Adesina: FG will begin implementation of 2018 budget by January

Femi Adesina: FG will begin implementation of 2018 budget by January

Femi Adesina, presidential spokesman, says the federal government will begin implementation of the 2018 budget by January.Adesina said the presentation of the 2018 budget to the national assembly is “promise made and promise being kept”.He said barring any exigencies, government would revert to the January- to-December budget cycle.Adesina spoke in a video published by the Presidency Office of Digital Engagement (PODE).“We [...]

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    Ekwueme is alive and well, says family

Ekwueme is alive and well, says family

The family of Alex Ekwueme, former vice-president, says the elder statesman is alive and well.In a statement on Tuesday, Uche Ezechukwu, spokesman of the family, asked members of the public to disregard the rumour being peddled about his health.Earlier on Tuesday, there were reports on social media that the elder statesman had died.Ekwueme was admitted at the hospital after he collapsed at his Enugu [...]

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    We can’t disclose how states spent N388.3bn Paris club refund, says FG

We can’t disclose how states spent N388.3bn Paris club refund, says FG

Ahmed Idris, accountant general of the federation, says N388.304 billion spending of London Paris club loan refunds by 35 states “is protected by professional privilege, and therefore confidential.”Idris said this in response to a suit filed by Socio-Economic Rights and Accountability Project (SERAP).The federal government released N388.304 billion of the N522.74 billion to 35 states as refunds of over-deductions on London-Paris [...]

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    Research on ‘post-oil world order’ is key, Osinbajo tells stakeholders

Research on ‘post-oil world order’ is key, Osinbajo tells stakeholders

Vice-President Yemi Osinbajo has charged stakeholders in the oil industry to invest in research and clean energy initiatives for a “post-oil world order”.Speaking at the 55th anniversary of the Oil Producers Trade Section (OPTS) of the Lagos Chambers of Commerce and Industry (LCCI), Osinbajo said the federal government knows the importance of diversifying from oil.“Oil-rich countries, such as ourselves, have [...]

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    Biofuel project will create 1m jobs in Ondo, says Baru

Biofuel project will create 1m jobs in Ondo, says Baru

Maikanti Baru, group managing director, Nigerian National Petroleum Corporation (NNPC), says the proposed biofuel plant in Okeluse, Ondo state, will create one million jobs upon completion.Baru said this in a statement made available to TheCable by Ndu Ughamadu, group general manager, group affairs division, NNPC.At the signing ceremony of the memorandum of understanding (MoU) towards building the project, Baru said [...]

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    FG raises N6.7bn from savings bond in eight months

FG raises N6.7bn from savings bond in eight months

The federal government has raised N6.7 billion through the auction of savings bonds in the last eight months, the Debt Management Office (DMO) has said.An analysis of data from the DMO showed that the savings bond was highly subscribed in the first few months.At its debut offer in March, the debt office raised N2.068 billion from the 13.01 percent two-year [...]

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    $50m earned from VAIDS in four months, says Fowler

$50m earned from VAIDS in four months, says Fowler

Babatunde Fowler, chairman, Federal Inland Revenue Service (FIRS), says the Voluntary Assets and Income Declaration Scheme (VAIDS) has yielded over $50 million in revenue since its launch four months ago.Fowler made this known on Monday while speaking at an event organised by the Nigeria governors’ forum secretariat in Abuja.Pointing to VAIDS as a key to revenue generation, Fowler said the scheme [...]

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    External reserves ‘surge to $34b’

External reserves ‘surge to $34b’

Joseph Nnanna, deputy governor, financial system stability, Central Bank of Nigeria (CBN), says external reserves have hit $34 billion from $33.6 billion.Nanna said the figure has been rising quickly, based on a 30-day moving average, since hitting the $32 billion mark on September 18.At an event organised by the Chartered Institute of Bankers of Nigeria (CIBN), Nnanna said the exchange [...]

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    APC reaped from PDP’s evil, says Lamido

APC reaped from PDP’s evil, says Lamido

Sule Lamido, former governor of Jigawa state, says the ruling All Progressive Congress (APC) reaped from the evil of the Peoples Democratic Party (PDP).In an interview with Daily Trust, Lamido said the APC campaigned on "pure lies". He accused the ruling party of increasing the hardship of Nigerians.“If there’s anybody who reaped most from PDP’s evil, it is the APC and they know what [...]

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    Malami: Civil society groups will monitor assets recovered from Abacha

Malami: Civil society groups will monitor assets recovered from Abacha

Abubakar Malami, attorney general of the federation says the federal government, has concluded plans to sign a memorandum of understanding (MOU) with the government of Switzerland for the release of another $321 million recovered from the family of late Sani Abacha.Malami disclosed this at a preparatory meeting of the global forum on asset recovery (GFAR) which held in Abuja on [...]

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    Nigerian banks have been investing heavily in T-bills, says Fitch

Nigerian banks have been investing heavily in T-bills, says Fitch

Global credit rating agency, Fitch, says Nigerian banks averaged a 7.5% margin on treasury bill (T-bills) yields in the first half of 2017 (1H17).According to a statement released by the rating agency on Friday, banks have been investing heavily in T-bills since second half of 2016 (2H16), improving interest income and maintaining margins. WHAT IS T-BILL?T-Bill is a short-term debt [...]

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    Airtel unveils ‘SmartRecharge’

Airtel unveils ‘SmartRecharge’

Airtel Nigeria has unveiled 'SmartRecharge', an "offer to reward" its customers during the festive season.In a statement, the telco said the offer is available to new and existing prepaid subscribers.It said SmartRecharge allows Airtel customers to enjoy ten times the value of any recharge on their lines using the *220*PIN# shortcode, which can be used for data and calls to [...]

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    Inflation rate will drop to single digit by 2018, says Emefiele

Inflation rate will drop to single digit by 2018, says Emefiele

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says inflation rates are projected to drop and record high single-digit rates mid-2018.Emefiele made this known to Journalists on Friday while attending an investment conference at the London Stock Exchange.While annual inflation in Nigeria eased down to 15.98 percent on rising food prices in September, Emefiele said that an inflation [...]

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    FG: We’ve recovered $85m from Malabu deal

FG: We’ve recovered $85m from Malabu deal

The federal government has announced the recovery of $85 million from the United Kingdom as part of funds allegedly looted from the Malabu oil deal.Abubakar Malami, attorney-general of the federation, disclosed this on Thursday while speaking at the consultative meeting on assets recovery.He said despite the non-compliant nature of some countries, the government would not relent in its bid to recover [...]

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    IGP gave Aisha Buhari two SUVs for her private engagements, Misau claims

IGP gave Aisha Buhari two SUVs for her private engagements, Misau claims

Isah Misau, senator representing Bauchi central, has alleged that Ibrahim Idris, inspector general of police, purchased two Prado sport utility vehicles (SUVs) for Aisha Buhari, wife of the President.According to Misau, the vehicle was purchased for her personal use and was "not part of appropriation".Speaking Wednesday before the senate ad-hoc committee assigned to probe Idris, Misau said Buhari's wife had [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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