Barely hours after a federal high court in Lagos issued an arrest warrant on ex-Niger Delta warlord, Government Ekpemupolo, alias Tompolo, over alleged multi-billion naira fraud, some ex-militants, suspected to be regrouping in the creeks for fresh hostilities, Thursday night, blew up a gas pipeline in Warri South-West Local Government Area, Delta State conveying gas from Escravos–Warri-Lagos-Abuja. The aff ...

Barely four hours after the Senate President Bukola Saraki virtually admitted that the 2016 budget document is missing and a report from a search team would be ready Thursday, Chairman, Senate Committee on Media And Public Affairs, Senator Aliyu Sabi Abdullahi has said that no statement made by any Senator during the plenary today can be interpreted to mean an admission that the 2016 budget is missing. He s ...

The naira continued its slide against the dollar at the parallel market today, Wednesday trading at N295 to the dollar. It was traded N290 to the dollar at the same segment in the nation’s commercial capital, Lagos on Tuesday. The naira exchange rate was, however, stable at N197 to the dollar at the official market on Wednesday. The naira has depreciated steadily since Monday when the apex bank stopped the ...

Senate President Bukola Saraki, today actually confirmed speculations that the 2016 budget document brought to the joint session of the National Assembly by President Muhammadu Buhari, on December 22, 2015 is missing from the Senate chamber. He however assured that a feedback from the committees assigned to look into reports of the missing document, will be ready tomorrow Thursday, January 14, 2016. Saraki ...

Ekiti State government on Wednesday, flagged off distribution of the Ekiti State Government/CBN Micro, Small and Medium Scale Enterprises loan in its effort to improve the welfare of the people. The State Commissioner for Finance, Chief Toyin Ojo who described the ceremony as a very important milestone in the life of the Ayodele Fayose administration thanked the state governor for his efforts at ensuring th ...

Central Bank of Nigeria, CBN today announced it was stopping the direct sale of US dollars to bureau de change to protect the under-pressure naira and conserve depleted foreign reserves. According to the apex bank’s governor Godwin Emefiele, CBN will henceforth “discontinue its sales of foreign exchange to BDCs (bureau de change). Operators in this segment of the market would now need to source their foreig ...

The Senate has urged the Central Bank of Nigeria (CBN) to immediately relax its strict Foreign Exchange policy. The upper chamber said that the strict foreign exchange policy is doing more harm to the country’s economy than good. Senate President Bukola Saraki who stated this during a meeting with the Managing Director of the International Monetary Fund, IMF, Christine Lagarde said small businesses especial ...

President Muhammadu Buhari said Tuesday in Abuja that an inter-ministerial committee will soon be established to speed up the re-organization and reformation of the Nigerian National Petroleum Corporation (NNPC). Speaking at a meeting with the Chief Executive Officer of the International Finance Corporation (IFC), Jin-Yong Cai, at the Presidential Villa, President Buhari said that the reformation of the NNP ...

President Muhammadu Buhari said Tuesday in Abuja that his administration will look inwards, enforce regulations to stop financial leakages and adopt global best practices in generating more revenue to mitigate the effect of dwindling oil prices on the Nigerian economy. Receiving the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde at the Presidential Villa, President Buhari s ...

Effective January 1, 2016, petrol will sell for N86 per litre at Nigeria National Petroleum Corporation (NNPC) outlets and N86.50k in other filling stations as against the current N87 per litre. The Petroleum Products Pricing Regulatory Agency (PPPRA) said the prices would run from January 1 till March 31, under a revised pricing template. PPPRA Executive Secretary Farouk Ahmed disclosed this in Abuja on Tu ...