President Tinubu cuts cost of governance by implementing Oronsaye Report Twelve years after the Steve Oronsaye panel submitted its report on restructuring and rationalizing Federal government parastatals and agencies and a white paper issued two years after, President Tinubu and the Federal Executive Council today decided to implement the report. Many agencies will be scrapped...
Oh No: Naira tumbles to N1,900/$ at parallel market The Nigerian naira, on Tuesday, depreciated further to N1,900 to the dollar at the parallel section of the foreign exchange (FX) market. The naira declined by 9.83 percent from the N1,730 recorded on Monday. Currency traders, also known as Bureau de Change (BDC) operators, quoted the...
Lagos State Government set to penalise Landlords renting out their apartments at exorbitant fees The Lagos State Government on Thursday said it would penalise homeowners found guilty of renting out their apartments at exorbitant fees. Commissioner for Housing Moruf Akinderu-Fatai in a statement, said the government would wield a big stick on allottees who engaged...
Economic Hardship: Price of Spaghetti jumps to N950 from N80, single egg N300, butter N1,400, sardine N1,020, 50Kg bag of rice N77,000 — Report The prices of staple food have gone up amid worsening inflation. It is reported that since President Bola Tinubu assumed office on May 29, 2023, his economic policies have made life...
Governor. Fubara of Rivers State confers State Honors on Nwabali, gifts him N20M Nwabali was the super eagles goal keeper during the just concluded Afcon where the team finished as second.
Banker Caught By EFCC Selling New Naira Notes To POS Agent The Economic and Financial Crimes Commission (EFCC) has arrested a banker, Soberechukwu Ewa, for allegedly selling new naira notes to a Point of Sales (POS) cashier, Azubuike M. Obasi. The POS agent, Obasi, was also arrested alongside the banker by operatives of EFCC’s Port...
FG can’t continue to subsidize electricity — Minister of Power The Minister of Power, Adebayo Adelabu, says Nigeria cannot continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model, as the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3...
Lawmakers seek change from presidential system of government to a Parliamentary system No fewer than 60 members of the House of Representatives are proposing an amendment to the nation’s 1999 Constitution for the adoption of a parliamentary system of government to replace the existing presidential system. On Wednesday, Wale Raji, a lawmaker from Lagos and...
$6.2m Fra¥d: FG asks Interpol to place three Nigerians on watchlist for allegedly conspiring with Emefiele to ‘forge Buhari’s signature’ The Nigerian government has requested the assistance of the International Criminal Police Organisation (INTERPOL) to hunt and arrest three defendants in the alleged withdrawal of $6.2 million from the Central Bank of Nigeria (CBN) last...
6.2Million Fraud: Ex-SGF, Boss Mustapha Testifies In Emefiele’s Trial, Says Buhari’s Signature Forged To Withdraw Funds From Central Bank The immediate former Secretary to the Government of the Federation, Boss Mustapha on Tuesday told the Federal High Court in Abuja that neither he nor former President Muhammadu Buhari approved the disbursement of $6,230,000 to international...
