Tag "ngozi okonjo-iweala"

    APC: FG suppressing audit report on ‘missing $20bn oil money’

APC: FG suppressing audit report on ‘missing $20bn oil money’

The All Progressives Congress (APC) has accused the federal government of trying to suppress the audit report on the missing $20 billion oil money, saying the deadline for the release of the report, which was set by the government itself, has passed.Speaking on Saturday through Lai Mohammed,  its spokesman, the party recalled that Ngozi Okonjo-Iweala, coordinating minister of the economy [...]

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    $30bn ‘not missing’ from excess crude account

$30bn ‘not missing’ from excess crude account

Ngozi Okonjo-Iweala, the coordinating minister of the economy and minister of finance, says $30 billion is not missing from the excess crude account, "as alleged by Adams Oshiomhole", governor of Edo state.Speaking when the Association of Enigies from Edo South senatorial district paid him a visit on Wednesday, Oshiomhole had said that "what we have in our excess crude oil account [...]

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    FG sets budget 2015 on $65-per-barrel oil price

FG sets budget 2015 on $65-per-barrel oil price

Ngozi-Okonjo-Iweala, the coordinating minister of the economy and minister of finance, on Wednesday laid the 2015 budget before both chambers of the national assembly.The budget rests on a benchmark oil price of $65 a barrel and the production forecast for oil was set at 2.27 million barrels per day.“I have laid the budget on behalf of his Excellency, Mr. President," [...]

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    NOI: Nigeria well-prepared for falling oil prices

NOI: Nigeria well-prepared for falling oil prices

Ngozi Okonjo-Iweala, coordinating minister of the economy and minister of finance, disclosed on Thursday that the federal government had already devised measures to deal with the fall of crude oil price to $60‎ per barrel.The global price of crude oil is taking a nosedive, which is expected to continue for some time.Speaking at the fourth annual capital market retreat of [...]

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    IMF endoses Nigeria’s belt-tightening policies

IMF endoses Nigeria’s belt-tightening policies

The International Monetary Fund (IMF) has described the set of measures put in place by the federal government to mitigate the effects of the dwindling oil revenues as a move in the right direction.On November 16, Ngozi Okonjo-Iweala, the coordinating minister of the economy and minister of finance, announced a series of steps that the government was taking to stabilise [...]

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Decline in oil prices: FG outlines plans, proposes new $73 benchmark per barrel for budget 2015

The federal government has announced a multi-pronged strategic response to mitigate the adverse effects of the decline in global oil prices, protect growth, reassure investors and keep the economy on a stable course through the crisis which has caused a significant drop in oil revenues for Nigeria.The response is a mix of measures designed to boost non-oil revenues further, plug [...]

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    Nigeria ‘needs about $14bn yearly’ to fund infrastructure

Nigeria ‘needs about $14bn yearly’ to fund infrastructure

Nigeria needs about $14 billion every year to fund infrastructure, Ngozi Okonjo-Iweala, coordinating minister of the economy and minister of finance, has said.Apeaking at the training programme on public-private partnership (PPP) organised by the African Development Bank in Abuja on Monday, Okonjo-Iweala said that there was a need for the country to refine and improve its use of PPPs for [...]

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    Okonjo-Iweala: We have not forgotten our Chibok girls

Okonjo-Iweala: We have not forgotten our Chibok girls

The coordinating minister of the economy and minister of finance, Dr Ngozi Okonjo-Iweala has said that the government has continued to search for avenues to bring the Chibok girls back alive.She also disclosed that President Goodluck Jonathan has increased the number of troops in the north-eastern part of the country from 15,000 to 20,000 as part of federal government’s efforts [...]

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    Boko Haram: Nigeria’s military ‘finally gets arms’

Boko Haram: Nigeria’s military ‘finally gets arms’

Amid concern over Nigeria's inability to source arms to scale up the war against Boko Haram, minister of finance and co-ordinating minister for the economy, Dr. Ngozi Okonjo-Iweala, says the country has had a breakthrough.Following reports by international human rights groups that the Nigerian military was carrying out extra-judicial killings in the north-east, western countries are said to be stalling [...]

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    Iweala: Ebola, Boko haram won’t affect economic growth

Iweala: Ebola, Boko haram won’t affect economic growth

Nigeria’s coordinating minister for the economy and minister of finance, Ngozi Okonjo-Iweala, has disregard fears that Boko haram insurgency and the current Ebola outbreak in West Africa would affect the country’s economic growth in 2014.Nigeria had recently predicted a 6.5 per cent growth for the year 2014.Iweala said the forecast had already discounted the impact from the Boko Haram insurgency, [...]

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    EFCC arrests ‘impersonator’ of Okonjo-Iweala’s secretary

EFCC arrests ‘impersonator’ of Okonjo-Iweala’s secretary

A suspected fraudster who impersonated Mr Wilson Amarachi, secretary of the minister of finance and coordinating minister of the economy, Dr Ngozi Okonjo Iweala, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC), the agency spokesman, Mr Wilson Uwujaren, said on Friday.In a statement issued in Abuja, Uwujaren disclosed that John Nze Madu, the suspect (pictured), was [...]

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    Attacks in south ‘will hurt Nigeria’s economy’

Attacks in south ‘will hurt Nigeria’s economy’

Although foreign investors are buying Nigeria's assets, any terror attacks down south could put off even the established ones among them, Citigroup's country officer, Mr. Omar Hafeez, has told Reuters.Nigeria's reputation as a preferred investment destination in Africa continues to hold, attracting capital equity and debt investors amid security concerns.Citi said it has traded $1.1 billion worth of Eurobonds for [...]

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    CNPP: Jonathan ‘flushed away’ N413bn Abacha loot

CNPP: Jonathan ‘flushed away’ N413bn Abacha loot

The withdrawal of a N100 billion suit against the Abacha family by the federal government is a politically motivated move tantamount to "flushing away" the billions of naira looted by late general Sani Abacha, the Conference for Nigerian Political Parties (CNPP), has said.The ministry of finance had stated on Thursday that as part of negotiations to expedite the recovery of the funds [...]

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    Nigeria to receive N36bn Abacha loot refund

Nigeria to receive N36bn Abacha loot refund

The federal government will on June 25 receive the N36 billion ($228 million) looted by former head of state, General Sani Abacha, from the Government and Principality of Liechtenstein, the ministry of finance has said.This is part of the agreement reached with the Abacha family, leading to the discontinuation of a suit against Mohammed, one of his sons, after the family [...]

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Peace has returned to parts of Borno, says Governor Shettima

The governor of Borno State, Kashim Shettima, has said that peace has returned in some parts of the state. The governor mentioned Maiduguri and Biu, as some of the areas in Borno where there is “semblance of normalcy”. Shettima, who was responding to a question by TheCable journalist, said that absolute peace cannot be achieved. He remarked, “The peace that you are looking [...]

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Up… up… naira

The Nigerian economy got a marginal boost within the week, as the naira appreciated against major currencies at the official and parallel markets.At the official market, the naira opened at N157.73 to a dollar on Monday, and closed at N155.43 on Friday, gaining N2.3k.The currency also appreciated against the dollar by N1 at the Bureau de Change during the week, [...]

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Exchange Rates

November 06, 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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