FCTA and Israeli Govt To Partner on Agriculture, Security and Digital Economy – Minister

Minister of Federal Capital Territory, FCT, Nyesom Wike has revealed his administration's commitment to the FCTA to partner with the state of Israel on Agriculture, Security, and Digital Economy. Wike disclosed this yesterday when he hosted the Israeli Ambassador, Michael Freeman in his office in Abuja. He expressed that his office has concluded plan to partner with Israel especially on information technology, in developing the planned Technology Village in Abuja.

Petrol Scarcity Looms Over Hike In Diesel Price

Oil marketers under the aegis of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), have lamented that they can no longer sustain the distribution of petroleum products across the country. This is as a result of the increase in the price of diesel used by these marketers to power their trucks. Diesel now sells for N1,100/litre in many locations. The marketers requested the urgent intervention of the federal government to arrest the situation.

NUPENG Plans Nationwide Shutdown Over Failed Federal, State…

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG (NUPENG) plans to down tools over the deplorable states of the federal and states roads that have continued to claim lives of innocent citizens. This follows the October 1 petrol tanker fatal accident that claimed five lives and while several others sustained various degrees of injuries, among other lost valuables along the Ologbo axis of the Warri /Benin highway.

Nigeria's Debt Rises By 75% To N87.38trn In Q2

Nigeria's total debt stock has increased by 75.27 percent in the Second Quarter of 2023 to N87.38 trillion, from the N49.85 trillion recorded in Q1 2023. This was disclosed by the Debt Management Office (DMO) in its latest report on Thursday. According to the debt office, the surge was occasioned by the N22.71 trillion ways and means advances obtained by the federal government from the Central Bank of Nigeria (CBN). This total debt represents a N37.53 trillion increase in total public debt, compared to the N49.85 trillion reported at the end of the first quarter (Q1) of the year.

NUPENG, Others Set To Join NLC, TUC Strike

According to reports, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) are mobilizing their members to join the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) nationwide strike scheduled to commence on Tuesday October, 3, 2023.

Breaking: Tinubu Nominates Cardoso as New CBN Governor

President Bola Ahmed Tinubu has approved the nomination of Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN). According to the presidential spokesman, Ajuri Ngelale, who made this disclosure on Friday evening, the nominated CBN governor will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

Cardoso Officially Takes Reins At CBN

Chairman, Board of Directors, Citibank Nigeria, Dr. Olayemi Michael Cardoso has officially assumed office as the Governor of the Central Bank of Nigeria (CBN) after being nominated by President Bola Tinubu as Godwin Emefiele's successor.  According to a press release from the apex bank, Dr. Cardoso alongside his designated deputies had taken the oath of office and will operate in acting capacity pending confirmation by the parliament.

Naira Weakens Against Dollar Over Forex Scarcity

Naira plummeted against the dollar on Wednesday after closing at 950/$ at the parallel market as the forex crisis persists. Meanwhile, at the official market, the Naira closed at 758.12/$1 on Wednesday from N742.10/$1 on Tuesday, according to FMDQ forex data.

CBN Launches Online Platform For MFB License Applications

The Central Bank of Nigeria (CBN) has launched an online platform for the submission of Microfinance Bank (MFB) license applications named, ‘CBN Licensing, Approval and Other Requests Portal (LARP)’. This was disclosed in a statement signed by the CBN Director, Corporate Communications, Isa Abdulmumin, which was released on the apex bank’s website.

Passport Issuance: FG Relocates NIMC To Ministry of Interior

In a bid to improve the issuance of international passport, the Federal Government (FG) has relocated the National Identity Management Commission (NIMC) to the Ministry of Interior. This development was as a result of the current difficulties associated with the National Identity Number (NIN), which is a key requirement for the application and procurement of international passports.