The Federal Government says the country is losing over $5 billion annually due to the increasing activities of smugglers. The Minister of Agriculture, Chief Audu Ogbeh made the disclosure on Wednesday while addressing State House correspondents after the Federal Executive Council meeting held at the Presidential Villa.

Rotimi Amaechi, Minister of Transportation, has called for fast track on the Lagos-Ibadan standard gauge rail line. The minister pointed out that two bridges will be demolished in the Lagos axis to accommodate the ongoing construction. Amaechi made the call during inspection of the on-going work at Ewekoro area of Ogun State.

Dr Bukola Saraki, President of the Senate, on Monday 6 November 2017 revealed that Nigeria has lost about N127 billion to cybercrime. He made the revelation at Nigeria’s first Legislative Stakeholders Conference on ICT and Cyber security in Abuja.

Saraki, who was represented by Philip Aduda Saraki, Senate Minority Whip did not, however, highlight the exact period within which the nation lost such an amount to cyber crime.

Nigeria’s Forex reserves have appreciated by 1.12 billion dollars in the last one month, boosted by a rally in oil prices and a relatively stable foreign exchange market.

Data from the central bank shows an increase in the reserves from 32.74 billion dollars in October to 33.86 billion dollars as at November the 1st.

The central bank of Nigeria (CBN), said on Tuesday it had injected $195 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $50 million for small businesses and individuals, and $45 million for certain dollar expenses such as school fees and medical bills.

The Minister of Finance, Kemi Adeosun has said that the government has identified over 800,000 tax defaulters including its contractors, saying the government is currently carrying out an audit of defaulting companies.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned the Federal Government against selling profitable oil and gas assets as scrap to fund the 2018 budget.

The trade union expressed its support to any other model to fund the budget aside from selling of the sector’s properties, calling on the National Assembly to reject as it had done in the past because the plan is not in the national interest.

Oil prices hit their highest levels early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit 62.44 dollars per barrel early on Monday, their highest level for years now.

The Federal Government is to investigate all Nigerian who have been linked to offshore accounts in some tax havens as leaked by Paradise Papers.

The Minister of Finance, Mrs Kemi Adeosun, disclosed on Tuesday that the government would be investigating high net-worth individuals and companies who frequent offshore tax havens.

The minister of state for aviation, Hadi Sirika, has disclosed that Emirates Airline will resume its flight operations to Abuja on December 15.

The minister made this known via his Twitter account.