The Debt Management Office of Nigeria has revealed that Nigeria’s public debt surged to N97.34trn ($108bn) as of the fourth quarter of 2023. A statement by the DMO on Friday disclosed this. Public debt is one of the ways for a country to get extra funds for economic development. This way, a country can plan…
Former President Olusegun Obasanjo has called on state governors that pay pension to former governors to emulate their Abia State counterpart, Alex Otti, and stop paying. He described payment of pension to former state governors and their deputies as outrageous. Obasanjo also described the pension as “a daylight robbery. The former president stated this on…
Seven students of Nasarawa State University, Keffi, have been reportedly killed in a stampede while struggling for rice meant to be distributed as palliative by the state government. The students were said to have allegedly broken into the warehouse where the food items were kept to be distributed Friday morning, overpowered the security attached to…
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…
Want to be notified when our article is published? Enter your email address and name below to be the first to know.
