Author: Amina Ibrahim

THE Accountant General of the Federation has said federal workers will start receiving their January salaries from Thursday evening (today), attributing the delay to a glitch from the Government Integrated Financial Management System (GIFMIS) platform. There have been rising concerns over delay in the payment of January salaries of federal workers. The delay was blamed on the non-conclusion of the 2024 appropriation on the GIFMIS platform by the Office of Accountant-General of the Federation (OAGF). A January 31 memo titled, “Delay in the payment of January 2024 Salary”, from the bursary department of the National Mathematics Centre, Abuja, to all…

THE Central Bank of Nigeria (CBN), fulfilling its pledge to clear the backlog of foreign exchange owed to foreign airlines in the country, has concluded the payment of all verified claims by airlines with an additional $64.44 million to the concerned airlines. Confirming the figures on Tuesday, January 30, 2024, the Acting Director of Corporate Communications at the CBN, Mrs Hakama Sidi Ali, noted that the latest amount paid to the airlines brought the total verified amount paid to that sector to $136.73 million. She added that all the verified airline claims had now been cleared. According to her, the…

THE Central Bank of Nigeria says it has released $500m to various sectors in its determination to address the backlog of confirmed foreign exchange transactions. Its Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, disclosed this in a statement on Monday in Abuja. According to Sidi-Ali, this comes barely a week after the apex bank paid approximately $2bn to settle outstanding commitments across various sectors. She said that the management of the CBN was committed to settling all legitimate foreign exchange backlogs within a short time frame. She said the CBN had begun implementing a comprehensive strategy to improve liquidity…

DANGOTE Cement’s shares have more than doubled this month (January 2024) helping add $6.9 billion to its founder’s wealth, according to the Bloomberg Billionaires Index. The report said as of Thursday, the fortune of Chairman of Dangote Industries, Alhaji Aliko Dangote, jumped to $22 billion. This is as billionaire businessman, Femi Otedola, who calls Dangote, his “bestie”, had made a significant acquisition of Dangote Cement shares, boosting his wealth to the highest in a decade. Otedola, explaining his reasoning for buying stakes in Dangote Cement in a statement issued, said the potential of Dangote Cement to earn foreign exchange as…

THE Director-General of the National Information Technology Development Agency (NITDA), Mr Kashifu Abdullahi has disclosed that the plan of the Nigerian Government as regards Artificial Intelligence, is to ensure that Nigerians take a leading role in shaping the global use of the AI technology. Abdullahi on Wednesday, said Nigeria will not just be a consuming participant of AI, but will contribute immensely to shaping the use of this technological advancement, even as it helps in birthing the nation’s desired future. Speaking just after the official launch of the ‘Digital for all Challenge’, the NITDA CEO asserted that Nigeria needs to…

THE Nigeria Customs Service (NCS), Niger/Kogi Command has seized vehicles and other contraband with a cumulative duty paid value of over N194 million in December 2023. The Comptroller of the Command Busayo Kadejo disclosed this to newsmen in Minna, the Niger State capital on Thursday. He said the command also recovered over N20m from demand notices within the same period. In December 2023, items recovered from smugglers include eight units of exotic cars and 875 litters of premium motor spirit PMS which has already been auctioned due to its inflammable nature. The Comptroller also added that the command made sixty-five…

THE Federal Airports Authority of Nigeria has justified the directive asking the agency to relocate its headquarters to Lagos. The Minister of Aviation and Aerospace Development, Festus Keyamo, had issued a directive for the relocation of the Federal Airports Authority of Nigeria’s headquarters from Abuja to Lagos. In an internal memo dated January 15 2024, FAAN’s Managing Director, Olubunmi Kuku, directed the agency’s Director of Human Resources and Administration to come up with the implications of the relocation order. In the memo, titled, “Relocation of FAAN Headquarters From Abuja to Lagos”, Kuku requested the implication of moving the operations of…

JUSTICE Hamza Muazu of the Federal Capital Territory High Court has granted the immediate past Governor of the Central Bank, Godwin Emefiele’s request to travel out of the FCT. The court said Emefiele must, however, remain in the country. On his bail terms, he was restricted to the FCT. Emefiele, through his lawyer, Mathew Bukka, SAN, had requested a variation of the terms. The Counsel of the Economic and Financial Crime Commission (EFCC), Rotimi Oyedepo, SAN, did not object. He told the court to ensure that Emefiele wrote an undertaking that he would remain in the country if his plea…

FORMER President, Muhammadu Buhari, on Tuesday, said that he remains committed to the leadership of President Bola Tinubu, and his party, the All Progressives Congress. Buhari stated this at the book launch titled “Working with Buhari,” and “Muhammadu Buhari: The Nigerian Legacy – 2015 – 2023 (Vols 1-5)” which focused on his eight years in office. The book was written by his former Special Adviser on Media and Publicity, Femi Adesina. The book “Working with Buhari” was written by a former Special Adviser on Media and Publicity to Buhari, Femi Adesina, and reviewed by Shola Oshunkeye, a former CNN Journalist…

FIRST Lady, Senator Oluremi Tinubu on Monday called on security agencies to intensify their efforts in addressing the pressing matter of kidnappings and insecurity in Nigeria. News Point Nigeria reports that Senator Tinubu said this in a post on X in her reaction to the recent abduction of the Al-Kadriyar sisters in the Federal Capital Territory, Abuja. “I implore our security agencies to intensify their efforts in addressing the pressing matter of kidnappings and insecurity in our nation,” she posted. “The safety and swift return of the Al-Kadriyar sisters and others in captivity should be our paramount concern.” President Bola…

IN fulfilment of its commitment to eliminate the backlog of pending matured foreign exchange in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has recently disbursed approximately US $61.64 million to foreign airlines through various banks. This initiative is part of the CBN’s efforts to decrease its remaining liability to the airlines. This information was confirmed by the Acting Director of the Corporate Communications Department at the CBN, Mrs. Hakama Sidi Ali, in Abuja on Friday, January 5, 2024. Mrs. Sidi Ali further disclosed that, in the past three months, the CBN has also redeemed outstanding forward liabilities…

THROUGHOUT 2023, Nigeria’s business environment grappled with unprecedented challenges, chiefly influenced by the complexities of an election year. Uncertainties surrounding election outcomes and policy directions led investors to adopt a cautious stance, influencing significant long-term investment decisions. The year kicked off with artificial cash scarcity and a botched currency note redesign, initially hampering consumer spending. Economic recovery in the second quarter was marred by the removal of fuel subsidies and the unification of the foreign exchange market, resulting in soaring inflation and considerable depreciation of the naira. These macroeconomic hurdles, compounded by longstanding national issues, triggered a notable departure of…

AHEAD of the February 3, 2024 by-elections, the Peoples Democratic Party (PDP) has released a timetable and schedule of activities for the contestants into Senatorial, House of Representatives and State Assemblies seats. The PDP timetable released on Tuesday was signed by the party’s National Organising Secretary, Umar Bature. The sale of nominations, expression of interest and delegates forms will begin on December 28, 2023, and end on January 3, 2024, while primary elections are scheduled to be held on January 9, 2024. The PDP pegged the price for the Expression of Interest and Nomination forms for the Senate, House of…

NIGERIA’s  Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has issued a heartfelt call to all Nigerians and citizens all over the world urging them to rekindle their commitment to nurturing peaceful relationships, showing respect for one another’s differences, and collaborating to tackle global challenges that affects everyone. In his Christmas message signed by the Special Adviser, Media and Communications Strategy to the minister, Alkassim Abdulkadir on Sunday, the Minister expressed his unwavering dedication to advancing diplomacy and cooperation for the betterment of our shared future. He encouraged all to use this Christmas season as an opportunity to renew their commitment…

F.A OIL Limited, a company owned by Nigerian billionaire and Africa’s richest woman, Folorunso Alakija, has been awarded exploration rights in six offshore oil blocks, following the issuance of a Petroleum Licencing Agreement by the Government of Sierra Leone. Julius F. Sandy, Secretary to the Sierra Leonean President, Julius Bio, disclosed in a statement that the licence agreement was signed in Freetown, Sierra Leone, on December 4, 2023. The notice, titled, ‘Award of Petroleum Licence to F.A. Oil Limited,’ read, “The General Public is hereby informed that following the closure of Sierra Leone’s Fifth Licensing Round and the successful conclusion…

THE Independent National Electoral Commission (INEC) has approved a timetable for conducting bye-elections resulting from the resignation or demise of members of the National and State Houses of Assembly. The electoral empire in a statement on Friday said both categories of elections are scheduled to take place simultaneously in all affected constituencies on Saturday, February 3, 2024. The vacancies were declared by the Presiding Officers, the Senate President, Speaker of the House of Representatives, and Speakers of State Houses of Assembly, according to INEC. It stated that the vacancies occurred across two Senatorial Districts, four Federal Constituencies, and three State…

THE Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case. The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project. The High Court had earlier ruled in October that the British Virgin Islands based company, paid bribes to a Nigerian oil ministry official in connection with the gas contract signed in 2010, and failed to disclose this when it took Nigeria to arbitration over the collapse of the deal. In his ruling, Judge Robin Knowles rejected P&ID’s…

THE Federal Government has expressed commitment to return the over 15 million out-of-school children to the classroom by 2027. The Minister of Education, Prof Tahir Mamman, disclosed this in Abuja on Thursday at a One-Day Retreat on Quick Wins in the Ministerial Deliverables (2023-2027). Mamman explained that the out-of-school menace must be taken seriously. He said having robust policies in place was not enough to tackle the challenges but that delivering on the policies would go a long way to address the problem of out-of-school children. He added, “The Federal Ministry of Education has further distilled the implementation of the…

THE Nigerian Railway Corporation (NRC ) has declared a free train ride from Thursday on all its passenger services. This followed the directive of President Bola Tinubu who also approved a 50 per cent reduction in interstate bus fares to enable the people to travel for the Christmas and New Year holidays. The NRC in a statement said following the President’s directive, it would commence free train service on its entire passengers’ services from Thursday, December 21, 2023 to Thursday January 4, 2024, both days inclusive. The statement added, “Passengers are advised to obtain their free tickets via the online…

THE Nigerian Communications Commission has directed MTN Nigeria, Airtel and other telecommunications firms to fully bar phone lines without National Identity Numbers and those whose NINs have not been verified. This was disclosed in a corporate notice that MTN Nigeria filed with the Nigerian Exchange Limited revealing the directive from NCC and the attached deadlines for the barring. In the statement signed by its Company Secretary, Uto Ukpanah, MTN Nigeria said, “This is part of an industry-wide directive that requires phone lines for which the subscribers have not submitted their NINs to be barred on or before 28 February 2024.…