Category: Money

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ECOWAS Parliament presents 2022 draft budget prioritises security, economic development

The Economic Community of West African States (ECOWAS) Parliament has presented its 2022 draft budget with mechanisms to ensure peace and security, good governance and economic development as priority. The draft budget of the Parliament was presented during its Second Extraordinary Session to consider and adopt the Parliament’s Draft 2022 budget, on Monday in Winneba, Ghana. Dr Sidie Tunis, Speaker of the ECOWAS Parliament, said … Continue reading ECOWAS Parliament presents 2022 draft budget prioritises security, economic development

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Nigeria’s loan approvals grew to $1.89 billion in 8 months – Afreximbank

The total loan approvals for Nigeria from the African Export-Import Bank (Afreximbank) has now risen to N1.89 billion in 8 months, the Executive Vice President, Corporate Governance and Legal Services at Afreximbank, Dr George Elombi, disclosed during the intra-African Trade Fair 2021 official Nigeria high-level roadshow which held in Lagos on Monday. Speaking on the theme “Promoting Nigeria-Africa Trade and Investment under the African Continental … Continue reading Nigeria’s loan approvals grew to $1.89 billion in 8 months – Afreximbank

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Again, Fred Ajudua’s Lawyer Seeks Adjournment of Alleged $8.4m Fraud Trial

The trial of Fred Ajudua who is being prosecuted by the EFCC for allegedly obtaining money to the tune of $8.4m could not go on today, Monday, October 18, 2021, as his lawyer, Olalekan Ojo, SAN, sought an adjournment before Justice Josephine Oyefeso of the Lagos State High Court sitting in Ajah, Lagos. Ajudua allegedly defrauded a former Chief of Army Staff, Ishaya Bamaiyi, of … Continue reading Again, Fred Ajudua’s Lawyer Seeks Adjournment of Alleged $8.4m Fraud Trial

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Entries open for N.5m Ray Ekpu Prize for Investigative Journalism

The Committee for the Ray Ekpu Award for Investigative Journalism has announced between October 19 and 31, 2021 as the period for submission of entries for the maiden edition of the award, which attracts a N500,000 prize annually. This was revealed by the Chairman and Secretary of the Committee, Nsikak Essien and Emem Nkereuwem respectively. The statement by Essien and Nkereuwem indicated that this year’s … Continue reading Entries open for N.5m Ray Ekpu Prize for Investigative Journalism

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Economy, Featured, LifeStyle, Money, News, News Now

Electricity Tariff: Power Companies smile to the bank as revenue hit N181bn

Buoyed by the hike in electricity tariff, the revenue collected by power distribution companies in Nigeria rose by 42.3 per cent in the first quarter of this year, compared to the same period of 2020. The revenue collection increased to N181bn in the first three months of this year from N127bn in Q1 2020, according to data from the Association of Nigerian Electricity Distributors. The … Continue reading Electricity Tariff: Power Companies smile to the bank as revenue hit N181bn

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Alleged P&ID scam: EFCC re-arraigns British national, James Nolan

The Economic and Financial Crimes Commission (EFCC), on Monday re-arraigned a British national, James Nolan, before Justice Donatus Okorowo of a Federal High Court (FHC), Abuja.The EFCC re-arraigned Nolan, alongside two others, on amended 32-count charge bordering on money laundering.The News Agency of Nigeria (NAN) reports that while the two companies; Goidel Resources Limited, a Designated Non-Financial Institution (DNFI), and ICIL Limited are 1st and … Continue reading Alleged P&ID scam: EFCC re-arraigns British national, James Nolan

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Pandora Papers: I’m yet to receive an invitation from EFCC – Peter Obi

A former Governor of Anambra State, Mr. Peter Obi, has denied reacting to the invitation extended to him by the Economic and Financial Crimes Commission (EFCC) as being circulated on different social media platforms. Obi said he was yet to receive any invitation from the anti-graft commission, rather, he only read letters circulating on the internet, just like everyone else. Obi, in a press release … Continue reading Pandora Papers: I’m yet to receive an invitation from EFCC – Peter Obi

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Agriculture, Business, Economy, Featured, Foreign News, LifeStyle, Money, News, News Now

Nigeria has capacity to generate $18bn annually from export of cassava – Adebayo

The federal government at the weekend stated that when fully harnessed, Nigeria has the capacity to generate as much as $18 billion from the export of its estimated 45 million metric tonnes of cassava products every year. The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, who made the disclosure when he received the Chief Executive Officer of BKG Exhibitions, Mr. Ifeanyichukwu Agwu, noted … Continue reading Nigeria has capacity to generate $18bn annually from export of cassava – Adebayo

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Nigeria’s Brent crude hits $85.62/barrel

The Nigerian National Petroleum Corporation (NNPC) on Monday said Brent crude sold $85.62 per barrel. According to the report, the crude gained $0.76, indicating 0.90%. A Reuters report attributed the rising price to soaring demand following the recovery from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. It noted that it … Continue reading Nigeria’s Brent crude hits $85.62/barrel

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Senate orders NCAA to suspend the issuance of AOC to AMCON owned airline

The Senate has directed the Nigeria Civil Aviation Authority (NCAA) not to issue an Air Operators Certificate to NG Eagle, the Asset Management Company (AMCON) owned airline over debts owed agencies. In a letter addressed to the Director General of the NCAA, the chairman, Senate Committee on Aviation, Smart Adeyemi said his committee received a joint petition from the Association of Nigeria Aviation Professionals (ANAP) … Continue reading Senate orders NCAA to suspend the issuance of AOC to AMCON owned airline

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