$6 billion fraud: We’ve power to prosecute you- EFCC tells Olu Agunloye 

    The Economic and Financial Crimes Commission (EFCC) has stated that it possesses the authority, supported by judicial precedents, to prosecute former Minister of Power and Steel, Olu Agunloye, regarding an alleged $6 billion Mambilla hydroelectric power plant.   According to News Agency of Nigeria (NAN), EFCC is pursuing legal action against Mr. Agunloye, who previously held a ministerial position in the administration of former President Olusegun Obasanjo, for alleged infractions related to the Mambilla power plant.   The suit, marked FCT/HC/CR/617/22, is before Justice Jude Onwuegbuzie of the Mapo Division of the FCT High Court, Abuja.   The

By |March 6th, 2024|Categories: Money|0 Comments

Dollar stumble to N1,600 At Parallel Market

    The foreign exchange crisis worsened on Thursday as the local currency further depreciated, exchanging at N1,600 to a dollar at the parallel market.   This was coming a few days after the local currency hit an all-time low at the official market, crossing N1,500 to one dollar.   The naira has come under a very severe attack in recent times, defying several interventions by the Central Bank of Nigeria (CBN) thereby worsening the cost of living crisis and inflation in the country.   The naira has depreciated by over 50 per cent in the last five months.  

By |February 16th, 2024|Categories: Money|0 Comments

Federal Govt set to borrow N2.5tn through bond – DMO

    The Nigerian Federal Government plans to raise N2.5 trillion in its second FGN bonds auction.   In a circular issued on Wednesday, the Debt Management Office stated that the offerings consisted of N1.25 trillion with a maturity date of February 2031 and N1.25tn with a 10-year tenor.   FGN savings bonds are part of the federal government’s domestic borrowing plan.   Last year, the Federal Government raised about N7.06tn from the fixed-income market.   According to the recently signed N28.8 trillion 2024 national budget, the Federal Government has projected its new borrowings to hit N7.83 trillion.   Recall

By |February 15th, 2024|Categories: Money|0 Comments

FRN Vs. Ali Bello & Anor: Drama as EFCC’s witness counters agency’s allegations of threats

  . Court adjourns to Feb 22, 23 for continuation of trial   Drama erupted on Tuesday at the Federal High Court in Abuja when the Economic and Financial Crimes Commission (EFCC) alleged that its main witness, Rabiu Musa, in the suit marked FHC/ABJ/CR/550/2022: FRN v. Ali Bello & Anor, had been scared away from trial. The witness, an Abuja based Bureau De Change operator, was alleged to have been threatened, following his appearance at the last trial and got scared. Lawyer to the anti-graft agency, Hannatu Kofamaisa, made the allegations at the resumed trial of Ali Bello and Daudu

By |February 13th, 2024|Categories: Money|0 Comments

JUST IN: Abuja Nurses Storm Council Office, Protest New Verification Rule

  By Doris Israel  Ijeoma Hundreds of nurses under the National Association of Nigeria Nurses and Midwives (NANNM) have taken to the streets of Abuja, decrying the newly implemented verification guidelines by the Nursing and Midwifery Council of Nigeria (NMCN). The aggrieved nurses, who stormed the NMCN headquarters on Monday, accused the council of stifling their career aspirations with the “stringent and unnecessary” rules. They held placards with inscriptions such as “No to verification rules!” and “Address nurses’ welfare.” Their anger stemmed from a circular released by the NMCN on February 7th, outlining revised guidelines for requesting certificate verification for

By |February 12th, 2024|Categories: Health, Money|0 Comments

Probe Nigeria indebtedness Afe Babalola urges Tinubu

  Legal luminary and founder of Afe Babalola University, Ado Ekiti, Aare Afe Babalola (SAN), has called for an investigation into how Nigeria found itself in the present situation of huge indebtedness.   Babalola cautioned that something must be done urgently about the state of indebtedness to prevent the country from being crippled by socio-economic crises.   The ABUAD founder spoke in Ado Ekiti on Friday shortly after the induction of 161 fresh doctors produced by the university by the Medical and Dental Council of Nigeria.   Babalola said, “Nigeria is one of the greatest debtors of the world. To

By |February 12th, 2024|Categories: Money, News|0 Comments

Pastors aiding insecurity in Nigeria —Clergyman

    A clergyman, Oscar Amaechina, says the prosperity gospel encourages love of money rather than building morality, contributing to the country’s insecurity.   Mr Amaechina, the president of Afri-Mission and Evangelism Network (AMEN), said this in Abuja on Saturday at a book launch.   “The danger of the prosperity gospel is that it does not bring morality through what people are doing, so I strongly believe that insecurity and the way we live our lives recklessly are results of not knowing God,” said Mr Amaechina.   He advised pastors to stick to the true biblical doctrine and teaching for

By |February 11th, 2024|Categories: Money, News, Opinion|0 Comments

Student loan: FG Concludes repayment plans ahead launch

    Ahead of the official launch of the Student Loan Scheme on February 21, 2024, the Nigeria Education Loan Fund said it is finalising repayment modalities.   Although it confirmed that the 10 per cent direct deduction from the beneficiaries’ salaries still stands, applicants can pay higher percentages or 100 per cent upfront if they choose.   However, persons confirmed to be dead, terminally ill, and incapable of earning a living through work will be granted waivers, a source close to the board’s activities told newsmen.   “First and foremost, the modality for loan recovery will be done by

By |February 11th, 2024|Categories: Education, Money, News|0 Comments

Lagos residents raise concern as condom prices skyrocket

  Some residents of Lagos have raised concerns over the increasing cost of condoms, saying it will lead to unsafe sex and unintended pregnancies among citizens. In separate interviews on Saturday, the residents said that access to affordable contraceptives was critical in ensuring the health of both partners, protection from sexually transmitted infections (STIs), and planning the desired pregnancy. There are different types and brands of condoms, such as Durex, Fiesta, Kiss, Rough Rider and Gold Circle, among others. Checks at some pharmacies showed that prices of condoms had increased by 50 to 200 per cent compared to last year’s

By |February 10th, 2024|Categories: Health, Money, News|0 Comments

NANS Calls for suspension of NLC, TUC proposed strike

    The National Association of Nigerian Students, NANS, has appealed to the Nigeria Labour Congress(NLC) and the Trade Union Congress(TUC) to suspend their proposed strike in the interest of the nation.   NANS National President, Mr Pedro Obi, made the appeal at a news conference in Abeokuta on Saturday.   The NLC and TUC had on February 8 issued a 14-day nationwide strike notice to the government over the failure to implement the agreements reached on October 2, following the removal of the fuel subsidy.   Obi noted that the association shared the pains Nigerians are experiencing, especially the

By |February 10th, 2024|Categories: Food, Health, Market, Money, News, Politics|0 Comments
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