The Federation Account Allocation Committee (FAAC) has disbursed N1.15 trillion to the three tiers of government for last month. The Federal Government received N352.41 billion out of the N1.15 trillion; states got N366.95 billion, while local governments received N267.15 billion. In the disbursement, oil-producing states received N166.24 billion as derivation revenue. Last month’s revenue into…
Representatives of 30 nations meeting in Brussels vowed to beef up nuclear energy Thursday as one solution to meet climate-fighting targets and guarantee reliable energy supplies. But the issue of nuclear power is divisive, and critics say it shouldn’t be part of the world’s approach to energy challenges. The summit was the first of its…
The World Health Organization on Wednesday called for immediate action to combat a worldwide spike in cholera cases amid a global vaccine shortage. “Immediate action is needed to stem an unprecedented multiyear upsurge in cholera cases worldwide,” WHO’s International Coordinating Group on Vaccine Provision said in a statement. “The severe gap in the number of…
President Bola Tinubu has banned ministers, heads of agencies, and other government officials from embarking on public funded foreign trips. The ban will last for three months in the first instance and will take effect on April 1, 2024. This was contained in a letter dated March 12, 2024, and signed by the Chief of…
The ongoing warning strike embarked on by the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union (NASU) may have taken its first casualties as students of the Bayero University, Kano (BUK), were prevented from writing their exams because the school main gate was shut down. The student and other staff from…
The Central Bank of Nigeria (CBN) on Wednesday, announced that all valid foreign exchange backlogs have now been settled, fulfilling a key pledge of the CBN Governor, Mr. Olayemi Cardoso, to process an inherited backlog of US$7 billion in claims. This was disclosed by the Bank’s Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, in…
Access Bank will acquire the National Bank of Kenya from the KCB Group, its second acquisition of a Kenyan bank in under five years. After purchasing Transnational Bank Limited in 2019, this is the Nigerian lender’s second acquisition in Kenya. Access Holdings’ Secretary, Sunday Ekwochi, announced in a statement filed on the Nigerian Exchange Limited…
The Senate has passed the Student Loans Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. The passage followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), presented by the Chairman representing Katsina South, Sen. Mohammed Muntari. This is as the bill, last week,…
The Catholic Bishops Conference of Nigeria (CBCN) has appealed to President Bola Tinubu to use his good office to explore all civil remedies to release Nnamdi Kanu, the leader of the proscribed Indigenous People of Biafra (IPOB), in the best interest of the South-East. The call comes barely 24 hours after the IPOB leader’s bail…
In a report by The PUNCH newspaper, the Federal Government says it has uncovered the identity of 15 entities, including nine individuals and six Bureau De Change operators and firms, allegedly involved in terrorism financing. Details of the development were revealed by the Nigerian Financial Intelligence Unit, in an email sent to our correspondent on…
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