THE allocation, shared during the May 2024 FAAC meeting comprised distributable statutory revenue of N284.716 billion, distributable Value Added Tax (VAT) revenue of N466.457 billion, electronic money transfer levy revenue of N18.024 billion, and exchange difference revenue of N438.884 billion. This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for April 2024, a statement by the Director of Press and Public Relations under the Office of the Accountant General of the Federation, Bawa Mokwa, said Thursday. Meanwhile, the balance in the Excess Crude Account (ECA) for last month was put at…
Author: Amina Ibrahim
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The acting Executive Secretary of the National Universities Commission (NUC), Chris Maiyaki, explained the delay in reconstituting the governing councils of federal universities, citing the government’s commitment to appointing the most qualified individuals to these councils. Maiyaki stated this Wednesday during an interactive session with journalists in Abuja. He urged the Academic Staff Union of Universities (ASUU) to trust in the federal government and the Minister of Education, Prof. Tahir Mamman, to appoint qualified and competent individuals to the governing councils of the 61 federal universities. ASUU had expressed concerns about the non-reinstatement or reconstitution of governing councils in public…
THE National Information Technology Development Agency (NITDA) has signed a Memorandum of Understanding (MOU) with Cisco to advance Nigeria’s digital transformation. Cisco’s Country Digital Acceleration (CDA) Programme is a global initiative that partners with government and private sector leaders to develop sustainable, secure, and inclusive communities powered by ethical and innovative technology solutions. The partnership which was sealed on Monday, aims to unlock the value of digitalisation in Nigeria and drive an inclusive future. The Federal Government will collaborate with Cisco, industry, and academia to accelerate the national digitisation agenda by implementing pilot projects in five key areas: 1. Repurposing…
THE Joint Admissions and Matriculation Board has released additional 36,540 Unified Tertiary Matriculation Examination results which were earlier withheld. This is in addition to the 531 results released the previous week bringing the total results so far released to 1,879,437. The board disclosed this in a statement it released on Tuesday through its spokesman, Fabian Benjamin. JAMB, in the statement, denied reports circulating on social media purporting to emanate from it that the outstanding 2024 UTME results, currently being subjected to scrutiny by its team of experts, had been compromised on account of a cyber security breach and that it…
THE Economic and Financial Crimes Commission (EFCC) will arraign a former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele on Wednesday for approving the printing of N684.5m at the rate of N18.96bn. The arraignment was originally scheduled for April 30, 2024, but was rescheduled following the agreement of the court and the parties. In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari. The anti-graft agency also…
THE Duke and Duchess of Sussex, Prince Harry and the wife, Meghan will today, Friday, May 10, 2024 arrive Nigeria for a three-day private visit, on the invitation of the Chief of Defence Staff, Gen. Christopher Musa to interact with wounded soldiers. Speaking to journalists in Abuja on Thursday ahead of the visit, the Director of Sports, Defence Headquarters, Air Vice Marshal Abidemi Marquis said the founder of Invictus games will spend three days in Nigeria to interact with wounded soldiers and their family members. He said the visit scheduled from 10th to 13th May 2024 will help the wounded…
THE Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar has reiterated Nigeria’s commitment to ensuring food security and the development of agribusinesses as a top priority of the President Tinubu’s administration. The Minister disclosed this during a high-level dialogue session on the theme; “From Food Security to Thriving Agribusiness: The Case for a U.S.-Africa Strategic Agribusiness Partnership, at the ongoing US-Africa Business Summit, holding in Dallas, Texas, on May 7, 2024. The Minister stated that food security is top on the list of President Tinubu’s eight-point agenda, followed by fighting poverty, growth, job, creation, access to capital, inclusivity, rule of law and fighting corruption. He…
THE Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024. The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona Adedeji. Customers of some of the Deposit Money Banks raised concerns that the banks have begun collection of processing fees for cash deposits as of May 1. Our correspondent sighted this in an email shared by one of the customers of the banks. Based on the bank’s move, two per cent was to be charged on deposits above N500,000 for individuals, while…
THE Federal Government through the Corporate Affairs Commission has issued a two-month registration deadline to Point of Sales companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria. The agreement was reached on Monday during a meeting between Fintechs and the Registrar-General CAC, Hussaini Ishaq Magaji, in Abuja. According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide. Speaking at the meeting, the CAC boss said the measure aims at safeguarding the businesses of Fintech’s…
THE Aliko Dangote Foundation (ADF) has underscored the pivotal role of religious and traditional institutions in tackling the pressing issues of malnutrition and hunger within Nigeria. Speaking at an event organized by the National Council on Nutrition and the World Bank-Assisted Accelerating Nutrition Results in Nigeria Project, Mrs. Zouera Youssoufou, the Managing Director/Chief Executive Officer of Aliko Dangote Foundation, emphasized the significance of faith-based groups in the national agenda for improving nutrition and human capital development in Nigeria. During the high-level dialogue on nutrition at the Presidential Villa in Abuja, themed ‘Faith Leaders as Catalysts for Enhanced Human Capital Through…
THE National Open University of Nigeria (NOUN) on Friday matriculated 28,514 new students to study various programmes in different faculties of the university. In his speech at the 26th Matriculation Ceremony held at the University’s headquarters in Abuja, the Vice-Chancellor of the institution, Professor Olufemi Peters, said: “At this semester’s matriculation, I am happy to inform you that we are matriculating a total of 28,514 new entrants, out of which 21,026 students are for undergraduate programmes and 7,460 are postgraduate students. “In addition, we have 28 postgraduate students that are registered for doctorate degrees.” Peters also told the new students:…
THE Federal Government on Tuesday approved 25% and 35% salary increase for civil servants across various consolidated salary structures. According to a statement signed by the Head of Press, National Salaries, Incomes, and Wages Commission, Emmanuel Njoku, the increases takes effect on January 1, 2024. The statement added that the augmentation applies to the six remaining consolidated salary structures, namely the Consolidated Public Service Salary Structure, Consolidated Research and Allied Institutions Salary Structure, Consolidated Police Salary Structure, Consolidated Para-military Salary Structure, Consolidated Intelligence Community Salary Structure, and Consolidated Armed Forces Salary Structure. Those in the Tertiary Education and Health Sectors…
THE Director General of the National Agency for the Control, Dr Temitope Ilori has said Nigeria has the highest burden of children born with HIV/AIDS in the world. Dr Ilori who said this on Monday during her working visit/field trip to the Oyo State Ministry of Health, the Oyo State Agency for the Control of AIDS, and the University College Hospital in Ibadan, Oyo State, however, noted that the agency is working towards ending the AIDS epidemic by 2030. “In the area of prevention of Mother-to-child Transmission of HIV, it’s unfortunate that Nigeria still has the highest burden of children…
THE Joint Admissions and Matriculation Board has concluded plans to release the results of the 2024 Unified Tertiary Matriculation Examination. JAMB Registrar, Prof. Ishaq Oloyede, is scheduled to hold a press briefing in Abuja on Monday regarding the release of the results and related matters, as indicated in a notice circulated to journalists in the capital city. The notice was made available by the Board’s Head of Public Relations, Fabian Benjamin, on Sunday. However, there are indications that results that would be released on Monday are for the candidates that participated in the UTME in the first few days, while…
THE Naira yesterday recovered against the US dollar at the parallel market as it appreciated to N1280/$, according to market information obtained by Nairametrics from currency traders. This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday. Currency traders confirmed that they sold between N1, 280 and N1,300/dollar. The local currency had, midweek lost a third of its value barely two weeks after strengthening to below N1,000 against the dollar. It later dropped to N1,400 against the dollar at the black…
THE Deputy Vice-Chancellor for Technology, Innovation, and Research (TIR) at the National Open University of Nigeria (NOUN), Professor Godwin I. Akper, has identified the failure to practise the core values of religion and the hegemony of moral values in public spheres as the problem with Nigeria. He stated that this was the “reason” behind the hindrance of development in public spheres and traditions and encouraged a balanced approach that respects the rights of all groups and promotes inclusivity. Akper, a scholar of Systematic Theology, made the statement in his inaugural lecture at the NOUN headquarters in Abuja on Thursday. In…
THE Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar has met with Nigerian professionals in the Netherlands ahead of President Bola Ahmed Tinubu’s participation at the Nigeria-Dutch Business and Investment Forum. The event, which took place on April 24, 2024, provided a platform for fruitful discussions on various topics of importance to the Nigerian diaspora community. The Minister emphasized the importance of fostering strong ties between Nigeria and its diaspora communities worldwide. He highlighted the “Tinubu 4Ds” framework, which focuses on Democracy, Development, Demography and Diaspora as central pillars for engaging with Nigerians abroad. Tuggar posited that the administration of…
MULTICHOICE, a major satellite television service in Sub-Saharan Africa, has announced an increase in prices on the DSTV and GOtv packages. In a statement titled ‘Price Adjustment on DStv and GOtv Packages’, signed by its Chief Executive Officer, John Ugbe, sent to its customers on Wednesday, said the increase was necessitated by the rise in the cost of business operations. According to the statement, the increment would take effect on May 1, 2024. “We understand the impact this change may have on you – our valued customer, but the rise in the cost of business operations, has led us to…
THE Give For Good Project has trained and empowered several youths in Kano in the areas of culinary education, basic cooking and baking skills, News Point Nigeria reports. The project which was founded by alumni of the YES Program and IRIS, Khadija Sulaiman Jebu and Fatima Nasir Umar is a project committed to addressing SDGs for a brighter, equitable, and more sustainable future. The project was partially funded through GYSD Mini Grants (through the YES Program, American Councils and US Department of State) organised a week of training from April 15th to the 21st, 2024, for female youths in culinary…
NO fewer than 100,000 nano-businesses across the Federation have received the initial disbursement of N50,000 through the Presidential Conditional Grant Scheme, also known as the Trade Grants Scheme. The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, gave the figure in an exclusive chat with our correspondent on Friday. Nano businesses are enterprises that have one or two workers and less than an annual turnover of N3 million, according to the Small and Medium Enterprises Development Agency of Nigeria. The minister, speaking through her aide, Terfa Gyado, confirmed that the disbursement began a few weeks ago and would be distributed…