Friday, June 22, 2018

Oluseyi Awojulugbe

    AT A GLANCE: Enugu airport, 2nd Niger Bridge… major projects affected by n’assembly’s cuts

AT A GLANCE: Enugu airport, 2nd Niger Bridge… major projects affected by n’assembly’s cuts

President Muhammadu Buhari on Wednesday signed the 2018 budget into law, eight months after he presented the proposal to the national assembly.In his budget signing speech, the president said the national assembly reduced the provisions for some projects and added 6,403 projects of their own to the budget.The provisions for the National Housing Programme, Mambilla power plant, Second Niger Bridge, [...]

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    Dangote Cement considering new production lines in Edo, Obajana

Dangote Cement considering new production lines in Edo, Obajana

Joe Makoju, the acting group chief executive of Dangote Cement, says the company is considering the possibility of two new production lines in Edo state and Obajana in Kogi state.Speaking at the company's annual general meeting on Wednesday, he said the company will focus on building new grinding plants across the coast of West Africa."As it stands, I think we [...]

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    Buhari: National assembly added N14.5bn to their own budget

Buhari: National assembly added N14.5bn to their own budget

President Muhammadu Buhari says members of the national assembly increased their own budget by N14.5 billion from N125 billion to N139.5 billionIn his budget signing speech on Wednesday, he said the lawmakers also added 6,403 projects of their own to the 2018 budget proposal sent to them.He said the projects added by the national assembly have not been properly designed and will be [...]

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    Buhari signs 2018 budget into law

Buhari signs 2018 budget into law

President Muhammadu Buhari has signed the 2018 appropriation bill into law.The presidency had submitted a proposal worth N8.612 trillion to the national assembly.Six months later, the national assembly increased the budget size to N9.12 trillion.In his budget signing speech made available on his Medium page, the president said he had hoped that the legislative process on the budget would be [...]

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    INFOGRAPHICS: FG released N1.5trn of projected N2.2tn for capital expenditure in 2017

INFOGRAPHICS: FG released N1.5trn of projected N2.2tn for capital expenditure in 2017

The federal ministry of finance says a total of N1.58 trillion was released for capital expenditure in the 2017 fiscal year.According to a statement released on Tuesday by the ministry, this is higher than the N1.21 trillion released for capital expenditure in 2016.The budget had projected a capital expenditure spending of N2.24 trillion.The ministry of power, works and housing received [...]

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    ‘Confirm before paying contractors’ — Adeosun cracks down on fake tax clearance

‘Confirm before paying contractors’ — Adeosun cracks down on fake tax clearance

Kemi Adeosun, minister of finance, says ministries, departments and agencies of government must confirm the authenticity of tax clearance certificates presented by contractors before approving payment. According to a statement signed by Oluyinka Akintunde, the minister's spokesman, the directive is in response to the prevalence of forged certificates by contractors.Adeosun said some contractors tender certificates purportedly issued before the automation of certificates [...]

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    FG orders tighter security on local flights over ISIS threat

FG orders tighter security on local flights over ISIS threat

The federal government has ordered an intensified screening of passengers and luggage on news that the Islamic State of Iraq and Syria is planning to attack commercial flights.This was made known in a letter sent from the office of the secretary-general of the federation to the director-general of the Nigerian Civil Aviation Authority, the managing director of the Federal Airports [...]

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    I was jealous of Prince Charles, Meghan’s father speaks on missing daughter’s wedding

I was jealous of Prince Charles, Meghan’s father speaks on missing daughter’s wedding

Thomas Markle, the father of Meghan Markle, says he felt jealous on his daughter's wedding day when Prince Charles walked her down the aisle.In an interview with Good Morning Britain, Markle said watching the ceremony from the TV of a Bed and Breakfast was difficult for him. [...]

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    One year after, EU retains ban on Medview aircraft

One year after, EU retains ban on Medview aircraft

A year after it stopped aircrafts belonging to Medview airline from operating in its airspace, the European Commission has not rescinded on its decision.According to the updated Air Safety List, a total of 119 airlines are banned from flying to any European Union member country.However, all air carriers from Indonesia were cleared."Today the European Commission updated the EU Air Safety [...]

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    Tonto Dikeh, ex-husband both lay claim to Father’s Day

Tonto Dikeh, ex-husband both lay claim to Father’s Day

Tonto Dikeh, Nollywood actress, and her ex-husband, Olakunle Churchill, are claiming to be fathers. [...]

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    BDCs ask to be included in Yuan disbursements

BDCs ask to be included in Yuan disbursements

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Saturday urged the Central Bank of Nigeria (CBN) to approve the Renminbi (Yuan) disbursements to its members, to deepen the China-Nigeria swap deal.Aminu Gwadabe, ABCON president, told NAN in Lagos that the approval would enable BDCs to sell personal and business travelling allowances to its customers in Yuan.According to him, [...]

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    Incredibles 2, Ghetto Bred… 10 movies you should see this weekend

Incredibles 2, Ghetto Bred… 10 movies you should see this weekend

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    Kunle Afolayan, Lola Shoneyin to train journalists at 2018 AWiM conference

Kunle Afolayan, Lola Shoneyin to train journalists at 2018 AWiM conference

Kunle Afolayan, Nollywood filmmaker, and Lola Shoneyin, Nigerian author, have been announced amongst speakers scheduled to train journalists at the 2018 African Women in the Media conference.The conference, which is organised by Yemisi Akinbobola, will take place at the University of Ibadan on June 21 and 22.CNN’s Nima Elbagir has been announced as the keynote speaker of the event.Some of [...]

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    Appeal court set to rule in Innoson, GTB case

Appeal court set to rule in Innoson, GTB case

The Court of Appeal sitting in Enugu has adjourned till a date yet to be determined, its ruling on the applications brought before it by Innoson Group and Guaranty Trust Bank.The Supreme Court had referred both parties to the court.Wole Olanipekun (SAN), counsel for GTB, informed the court that the bank wished to withdraw an earlier motion it filed which [...]

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    NCC withdraws 36.6m telephone lines from telcos

NCC withdraws 36.6m telephone lines from telcos

The Nigerian Communications Commission (NCC) has withdrawn 36.6 million telephone lines from telecommunications operators.According to a document made available on the NCC website, the directive took effect on March 20, 2018.A telephone numbering plan is a type of scheme used in telecommunication to assign telephone numbers to subscriber telephones or other telephony endpoints. Telephone numbers are the addresses of participants [...]

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    Malami to pay lawyers N500m over MTN fine

Malami to pay lawyers N500m over MTN fine

The federal executive council (FEC) on Wednesday approved the payment of N500 million legal fees to lawyers for the recovery of N330 billion fine from the Mobile Telecommunications Network (MTN).MTN was fined by the Nigerian Communications Commission (NCC) in 2017 for breaching directives on SIM registration.Abubakar Malami, minister of justice and attorney general of the federation, said this while briefing [...]

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Exchange Rates

June 21, 2018USDGBPEUR
INTERBANK360.45492.18420.32
LAGOS362495425
KANO363495423
PH365494423
ABUJA364495423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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