Friday, September 20, 2019

Taiwo Adebulu

    NEC budgets N100bn for national livestock programme

NEC budgets N100bn for national livestock programme

The National Economic Council (NEC) has budgeted N100 billion for the implementation of the national livestock transformation plan (NLTP).The council presided over by Vice-President Yemi Osinbajo reviewed the proposal submitted by one of its subcommittees at its Thursday meeting in the presidential villaDave Umayi, Ebonyi state governor and chairman of the subcommittee on farmer/herder crisis, said the proposal indicates that the [...]

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    Gbajabiamila: We won’t allow DisCos to continue estimated billing

Gbajabiamila: We won’t allow DisCos to continue estimated billing

Femi Gbajabiamila, speaker of the house of representatives, says the lower legislative chamber will not allow electricity distribution companies (DisCos) to continue fleecing Nigerians with the estimated-billing system.Speaking on Wednesday when he hosted the management of the Transmission Company of Nigeria (TCN), the speaker said the house will revisit the law against the practice.In January, the house passed a bill [...]

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    US imposes stiffer sanctions on Iran over attack on Saudi oil facilities

US imposes stiffer sanctions on Iran over attack on Saudi oil facilities

President Donald Trump has ordered stiffer sanctions on Iran over the recent drone strikes on Saudi Arabian oil facilities.Yemen’s Houthi rebels had claimed responsibility for the strikes which cut five per cent of the daily global oil supply but the US said the rebel group did not have the capacity to carry out such strike."It's very easy to start. If [...]

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    Grass-cutting scandal: EFCC to tender evidence from telephone against Babachir Lawal

Grass-cutting scandal: EFCC to tender evidence from telephone against Babachir Lawal

The Economic and Financial Crimes Commission (EFCC) on Wednesday tendered evidence extracted from a telephone against Babachir Lawal, former secretary to the government of the federation (SGF).Lawal and Rolavision, his company, are facing an amended 10-count charge bordering on fraud, diversion of funds and criminal conspiracy to the tune of over N500 million.President Muhammadu Buhari fired Lawal in October 2017, [...]

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    Fashola: Some communities demanding N10bn compensation for 2nd Niger bridge

Fashola: Some communities demanding N10bn compensation for 2nd Niger bridge

Babatunde Fashola, minister of works and housing, has blamed some communities for uncompleted projects, disclosing how a demand of N10 billion compensation was made for work to continue on the 2nd Niger bridge.Speaking with reporters at the end of the federal executive council (FEC) meeting presided over by President Muhammadu Buhari, the minister said huge demands have led to uncompleted [...]

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    Ezekwesili to study link between politics and Nigeria’s poor economy at Robert Bosch Academy

Ezekwesili to study link between politics and Nigeria’s poor economy at Robert Bosch Academy

Obiageli Ezekwesili, former minister of education, has won the Von Weizsäcker fellowship at the Robert Bosch Academy in Berlin, Germany.The former minister will be at the academy from September 2019 to February 2020 where she will be working on an academic project, investigating the "nexus between the quality of politics and the economic progress or decline of nations".According to Ezekwesili, [...]

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    FRSC: Agreement on non-movement of Dangote trucks at night was advisory, NOT a ban

FRSC: Agreement on non-movement of Dangote trucks at night was advisory, NOT a ban

The Federal Road Safety Corps (FRSC) says it never banned trucks belonging to Dangote group from plying the roads at night.The agency issued a statement on Tuesday after a meeting with representatives of the group announcing that an agreement which will restrict the company's trucks from plying the roads from 7pm to 7am daily had been reached.The FRSC said the agreement [...]

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    Ngige: Igbo must support APC — they won’t be offered presidency in bedroom

Ngige: Igbo must support APC — they won’t be offered presidency in bedroom

Chris Ngige, minister of labour and employment, says the south-east must support the All Progressives Congress (APC) as nobody will offer the region the position of president on a platter of gold.Speaking in Anambra state on Tuesday, the minister said the region should stop "shouting marginalisation" as power is not given based on sentiment and emotion.He said President Muhammadu Buhari [...]

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    Buhari asks police, PSC to work together on recruitment

Buhari asks police, PSC to work together on recruitment

President Muhammadu Buhari has waded into the crisis between the Police Service Commission (PSC) and the inspector-general of police (IGP) over recruitment into the force.The IGP and the commission have been at loggerheads over the recruitment of 10,000 constables, which has festered as the two parties could not agree on who has the mandate to carry out the exercise.In a [...]

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    FRSC, Dangote strike deal on non-movement of trucks at night

FRSC, Dangote strike deal on non-movement of trucks at night

The Federal Road Safety Corps (FRSC) and the Dangote Group have agreed that the company's trucks will not ply the roads from 7pm to 7am daily.The trucks will now move during the day only.In a statement issued on Tuesday by Bisi Kazeem, the corps public education officer, he said the move was part of the agreements reached at a meeting [...]

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    NERC says DisCos largely responsible for poor power supply

NERC says DisCos largely responsible for poor power supply

The Nigerian Electricity Regulatory Commission (NERC) says the distribution companies (DisCos) are largely responsible for poor electricity supply to customers despite increased power generation.The commission stated this in its newly released 2018 fourth-quarter report.The regulator stated that the limitation in electricity distribution networks remains the biggest constraints in delivering adequate power supply to customers.According to the data released by NERC, [...]

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    Buhari meets IGP, PSC chairman over ‘recruitment crisis’

Buhari meets IGP, PSC chairman over ‘recruitment crisis’

President Muhammadu Buhari is meeting with Mohammed Adamu, inspector-general of police (IGP), and Musiliu Smith, chairman of the Police Service Commission (PSC) in his office.The IGP and the commission have been at loggerheads over the recruitment of 10,000 constables into the force.The crisis festered as the two parties could not agree on who has the mandate to carry out the [...]

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    NFIU: We’ll punish those who leaked letter on bank account details of public officers

NFIU: We’ll punish those who leaked letter on bank account details of public officers

The Nigerian Financial Intelligence Unit (NFIU) says it is investigating how its letter to commercial banks requesting the account details of principal government officers was leaked.In a statement on Monday, Ahmed Dikko, NFIU spokesperson, described the report that the agency is probing the senate president, speaker of the house of representatives and the chief justice of Nigeria as untrue.Dikko said [...]

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    Strike looms as FG, labour fail to reach agreement on N30k minimum wage adjustment

Strike looms as FG, labour fail to reach agreement on N30k minimum wage adjustment

Labour unions in the country are considering another strike having failed to reach an agreement with the federal government on the consequential adjustment of the N30,000 minimum wage.In April, President Muhammadu Buhari signed the N30,000 new national minimum wage bill into law.But the policy is yet to take effect over discrepancies in the salary scales for the various tier of [...]

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    ICYMI: Nine wounded as ‘drunk’ policeman goes on stabbing spree in Ondo nightclub

ICYMI: Nine wounded as ‘drunk’ policeman goes on stabbing spree in Ondo nightclub

Taiwo Orisadare, a police officer, has reportedly stabbed about nine people at a night club in Akure, Ondo state.The police officer with the state command, who was said to be drunk, engaged in an argument with some people at the club on Friday before stabbing them.According to The Punch, the argument was said to have led to a fight between [...]

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    EXCLUSIVE: Foreign donors threaten to withdraw funding for Nigeria’s first utility-scale solar projects

EXCLUSIVE: Foreign donors threaten to withdraw funding for Nigeria’s first utility-scale solar projects

Some international donors have threatened to withdraw $300 million funding for its proposed Nigeria's "first utility scale solar projects", TheCable can report.In a letter dated September 10 to Marilyn Amebi, managing director of the Nigerian Bulk Electricity Trader (NBET), the African Finance Corporation (AFC) noted that it has been working on the 1,000 megawatts (MW) project for a year with [...]

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Exchange Rates

September 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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