President Buhari Seeks Approval Of $800m Palliative Loan

President Muhammadu Buhari, has on Wednesday wrote to the Senate, asking the honorable house to approve a new loan request of $800million. The President of the Senate, Ahmad Lawan, read out Buhari’s request to lawmakers on the floor of the Senate. The President partly wrote, “Please note that the Federal Executive Council approved an additional loan facility to the tune of $800m to be secured from the World Bank, for the National Social Safety Net Programme and the need to request for your consideration and approval to ensure early implementation.

Plan To Ditch New Banknotes Baseless - CBN

The Central Bank Of Nigeria (CBN) has denied rumors of a plan to withdraw newly redesigned banknotes from circulation. The apex bank has hinted that more newly redesigned banknotes will be in circulation. In a statement issued by the Acting Director of Corporate Communications, Dr. Isa AbdulMumin, the CBN dismissed the speculations as baseless and aimed at creating unnecessary panic among the public.

Max Air Crash-lands, All 144 Passengers Crew Members Evacuated

An airplane crash-landed on Sunday afternoon at the Nnamdi Azikiwe International Airport in Abuja, causing panic. The aircraft, B737, with Aircraft Reg. No. 5N-MBD Max Air arriving from Yola, Adamawa Stat, conveying 144 passengers and six crew members lost its tyres after landing. The Aerodrome Rescue and Fire-fighting Service (ARFFS) operatives, who were already on ground at the airport swiftly put off the fire around the tyres before the passengers were disembarked right at the runway. The runway was temporarily closed while the aircraft was being towed.

NEC Halts Plan On Subsidy Removal

The National Economic Council (NEC) has requested the Federal Government to halt the June deadline plans on removing subsidy, pending the reviews of plans on providing palliatives for Nigerians. This was disclosed by the Minister of Finance, Budget and National Planning, Zainab Ahmed during a briefing at the State House on 27th April 2023, after the close of the NEC meeting presided by Vice President Prof. Yemi Osinbajo, at the Presidential Villa, Abuja. She stated that the Council deliberated on the matter and resolved that it cannot be removed for now, but it equally agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.

FG Launches International Gemstone Market, Warns Against Illegal Mining

The Federal Government (FG) has launched the country’s first International Gemstone Market in Ibadan, Oyo State, and also warned against illegal mining. Speaking during the inauguration ceremony, the Minister of Mines and Steel Development, Olamilekan Adegbite said, “Mining is governed by rules and laws. What is happening at Okeho, Oyo State, as referred to by the traditional ruler, is nothing but an act of illegality.

FG Implements 40% Salary Increase For Civil Servant

Federal civil servants under the Consolidated Public Service Structure will benefit from the new 40 percent peculiar allowance introduced by the Federal Government. This is to say that other workers in employment by the Federal Government but operating under different salary structures such as university workers, medical workers, non-academic workers in tertiary institutions, the police, and members of the armed forces will not benefit. In a memo obtained by our correspondent on Saturday, the National Salaries Income and Wages Commission headed by Ekpo Nta noted that only 144,766 staff members of the federal civil service under the CONPSS salary structure would be paid.

FEC Approves National Blockchain Policy

The Federal Executive Council (FEC) approved the implementation of the National Blockchain Policy during the Council’s meeting on Wednesday in the Council Chamber, Presidential Villa, Abuja which was presided over by President Muhammadu Buhari. Speaking to State House journalists after the meeting, Isah Pantami, the Minister of Communications and Digital Economy said, “This policy was gotten through consultation with our stakeholders where 56 institutions and personalities were involved in the process of conceptualizing, developing and reviewing the policy.

EU Adopts New Cryptocurrency Rules

As the European Union (EU) prepares to introduce a digital currency (euro) later in the year, member states have adopted new legislation bordering cryptocurrency and other crypto-assets. According to reports, the purpose of the legislation is to protect investors against abuse and manipulation. The cryptocurrency exchange suffered a great failure in November when the FTX platform and its sister trading house Alameda Research went bankrupt, dissolving a virtual trading business that at one point had a market value of $32 billion.

NLC, TUC, Disrupt Air Peace Operation Over Rift With Imo State Governor

Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have disrupted the operation of Air Peace flight due to the violent disruption of the Workers' Day celebration by alleged agents of the Imo State government, causing it to lose hundreds of million naira. It was reported that the union officials stormed the Murtala Muhammed International Airport Lagos, and took charge of the airline counter, the development caused disruption in airline operation, as passengers were seen stranded.

President Buhari Reacts To Judgement Regarding Ararume

President Muhammadu Buhari has revealed that the Federal Government will appeal the court judgement on the case between Senator Ifeanyi Ararume and the Nigeria National Petroleum Company Limited, NNPCL. In a statement by Femi Adesina, Special Adviser to the President on Media and Publicity, Buhari said he is yet to receive a formal copy of the ruling. He called for calm from all sides involved in the matter, and affirmed that due judicial process will be followed to resolve the problem. “While the Office of the Attorney General of the Federation/Minister for Justice is yet to receive a formal copy of the ruling, the President affirms that due judicial process will be followed, and NNPCL has already taken steps to go on appeal.