THE Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceeds to their mother companies overseas at once. The apex bank said international oil companies can repatriate 50% of their proceeds in the first instance and then the other half after 90 days. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024. The CBN said it observed that proceeds of crude oil exports by International Oil Companies (IOCs) operating in Nigeria are transferred offshore to fund parent accounts of the…
Author: Maimuna Bashir Isa
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THE Benue State Governor, Rev. Dr. Hyacinth Iormem Alia has commended the Founder and President MAAUN Group of Universities, Prof. Adamu Abubakar Gwarzo for his zeal and passion towards the development of education in Nigeria and Africa. The governor made the remarks on Sunday, 11th February, 2024 during a courtesy visit to Maryam Abacha American University of Nigeria where he met with the Tiv community residing in Kano. The governor who lauded Prof. Gwarzo, for the feat recorded in the field of education, also described the young Professor as a revolutionary whose contributions would live for generations. “Prof. Gwarzo is…
THE first lady of Nigeria, Oluremi Tinubu, on Monday announced a sum of N50 million as endowment fund for best graduating student from school of law at the Maryam Abacha American University of Nigeria, MAAUN. Tinubu made the announcement while commissioning a building named after at the school. The first lady, who unveiled the building, expressed satisfaction with the facilities put in place and thanked the Founder of the University, Prof. Adamu Abubakar Gwarzo for naming the School building after her. She commended the Founder and Chairman Governing Council of MAAUN, Prof. Adamu Abubakar Gwarzo for his contribution towards uplifting…
PRESIDENT Bola Tinubu, on Sunday, said he has received the news of the death of Mr. Herbert Wigwe and Mr. Abimbola Ogunbanjo, and members of the Wigwe family with deep shock and distress. In a statement, Tinubu mourned the illustrious citizens. Wigwe, who was the Chief Executive Officer of Access Holdings Plc and founder of the How Foundation, died alongside his wife, son and Mr. Abimbola Ogunbanjo, former Group Chairman of the Nigerian Exchange Group Plc. “After receiving an official confirmation of events, President Bola Tinubu receives with shock and deep distress the news of the passing of Mr. Herbert…
PRESIDENT Bola Tinubu has sent some of his cabinet members to the governments of Republic of Niger, Mali and Burkina Faso over the trio’s recent move to exit the regional bloc, Economic Community of West African States (ECOWAS), Daily Trust reports. Tinubu’s team, comprising the Minister of Defence, Abubakar Badaru and his counterpart from Foreign Affairs, Amb. Yusuf Maitama Tuggar and other top government functionaries, were led by the President of ECOWAS, Dr. Omar Alieu Touray. This newspaper had reported how Nigeria might be affected in the area of security and economy, according to experts following the exit of the…
THE Minister of Foreign Affairs, Ambassador Yusuf Tuggar has thrown his weight behind the establishment of Nigeria-Benin Republic permanent Commission. The Minister gave the nod on Wednesday when he received in audience the Nigeria, Advocacy Group for the Establishment of a Permanent Joint Commission between Nigeria and Benin Republic in Abuja. The group was led by Amb. Oguntuase Kayode, Chairman of the group’s Governing board. “This issue of the Nigeria Benin Joint Commission is one that is on the front burner, but it’s also important to note from our records here that in Nigeria Benin Joint Commission does exist it’s…
THE United Nations Children and Education Fund Country Representative in Nigeria, Christiane Mundaute has said that more than 200 million girls and women worldwide have undergone Female Genital Mutilation. Mundaute said Nigeria accounts for 10 percent of this figure which is estimated at 19.9 million. Speaking in Ilorin, Kwara state on Tuesday, at a symposium held to mark the International Day of Zero Tolerance for Female Genital Mutilation organised by the office of the First Lady of the State, Professor Olufolake AbdulRazaq, Mundaute stated that, the development means that, “Nigeria holds the third-highest number of women and girls who have…
NO fewer than 723 schools are reported to have been closed down in nine states across the country due to insecurity and occupation of the school premises by state and non-state actors, Internally Displaced Persons, IDPs, including incidents of flood leading to obstruction of teaching and learning in the affected schools. According to the United Nations Children’s Fund, UNICEF, Safe School Data,(September 2023) the states affected included Adamawa, Benue, Borno, Imo, Katsina, Kebbi, Sokoto, Yobe and Zamfara states. A breakdown of the data indicated that 26 schools were closed in Adamawa State, Benue had 28 of its schools closed, Borno…
THE Central Bank of Nigeria (CBN) on Saturday said there is no plan to convert $30bn domiciliary deposits to naira. Reports emerged in the media (not in News Point Nigeria) that Federal Government and the apex banks were considering the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise Nigeria’s currency, which earlier this week recorded its worst performance in history. However, the apex bank dismissed the report as “fake news” in a statement by its Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, urging the public to disregard such speculations. “No plans to convert $30bn…
THE National Hajj Commission of Nigeria (NAHCON) has finally announced the final fare for the 2024 Hajj. The Commission, in a statement by NAHCON’s Assistant Director, Public Affairs, Fatima Sanda Usara, on Saturday said intending pilgrims from Nigeria’s Southern center are required to pay N4,899,000 as Hajj fare; those from the Northern center will pay N4,699,000, for the Hajj and pilgrims from Yola and Maiduguri center will pay a fee of N4,679,000 for the 2024 Hajj. See full statement below: Press Release It would be recalled that the Chairman of National Hajj Commission of Nigeria (NAHCON), Malam Jalal Ahmad Arabi…
THE Minister of Art, Culture and the Creative Economy Hannatu Musawa is set to roll out a $617 Million IDICE Fund in collaboration with the African Development Bank (AfDB). At a high-level meeting in Abuja on Thursday with the Director General of AfDB, Mr. Lamin Barrow, the Minister highlighted the huge potential of the Creative Economy to generate employment opportunities for millions of young Nigerians. “With eager anticipation from the creative community, the IDICE fund emerges as a landmark transaction, providing a strategic platform for directing additional long-term financing into this dynamic sector”. Expressing her enthusiasm, Minister Musawa affirmed, “We…
THE Peoples Democratic Party (PDP) has appointed Amina Divine Arong as the new National Woman Leader of the party, four months after the death of Stella Effah-Attoe who previously held that position. “The Peoples Democratic Party (PDP) has appointed a prominent Party women mobilizer, Hon. Amina Divine Arong from Cross River State, as the Party’s new National Woman Leader,” PDP spokesman Debo Ologunagba said in a Thursday statement. Arong has a diploma in Banking and Finance and a BSc in Accounting. She will serve out the term of the party’s late woman leader, the PDP image maker added. “The new…
KOGI State Governor, Usman Ododo has denied reports and insinuations in some quarters that he has approved the establishment of an ‘office of immediate past governor’ in the state. The governor reacting to the trending story of creation of an office of past governor this morning, with his predecessor, Yahaya Bello reportedly the pioneer occupant of the office. But, in a statement on Tuesday by his Chief Press Secretary, Oladele John NIHI, Ododo described the story as “fake” and ‘handiwork of psychotic mischief makers’ urging the people to disregard it. See full statement below: PRESS RELEASE IGNORE FAKE NEWS OF…
THE Federal Government of Nigeria has expressed sadness over the pronouncement by the Military authority in the Republic of Niger indicating that the Republics of Burkina Faso, Mali and Niger have withdrawn membership of their countries from the Economic Community of West African States (ECOWAS). In a statement on Monday, a spokesperson for the Ministry of Foreign Affairs, Francisca Omayuli, said Nigeria remained opened for engagement with the three countries. “For half a century, ECOWAS has worked to promote peace, prosperity and democracy in the region. Nigeria stands with ECOWAS to emphasise due process and shared commitment to protect and…
NO fewer than 140 officials will track and assess the performance of federal ministries, departments, and agencies ahead of the first assessment exercise at the end of this month. This is as the officials joined the third technical retreat for delivery desk officers of federal ministries on the implementation of presidential priorities and ministerial deliverables in Uyo, Akwa Ibom State capital, which began on Wednesday. A senior official working closely with the Central Delivery Coordination Unit headed by the Special Adviser to the President on Policy Coordination, Mrs Hadiza Bala-Usman, revealed that the officers, who would conduct the assessment, were…
MINISTER of Federal Capital Territory (FCT), Nyesom Wike, has berated council chairmen who have abandoned monthly security meetings. Wike, who spoke at a town hall meeting in the Abuja Municipal Area Council(AMAC), said henceforth any of the council chairman who failed to host the meeting would be declared a security threat. “How will you say you are not holding a monthly security meeting because you don’t have stipend? Henceforth, any chairman who fails to hold such meeting will be seen as a threat to security,” the minister said. He assured that the Administration would do everything possible to support security…
SPECIAL Adviser to President Bola Tinubu on Policy and Coordination and Head, Central Delivery and Coordination Unit, Hadiza Bala Usman, says her principal will drop ministers who do not deliver on their mandates. Usman said the president was serious about delivering on his promise to make life better and easier for Nigerians. She spoke at the opening of the technical retreat for delivery desk officers of federal ministries on implementation of presidential priorities and ministerial deliverables in Uyo, Akwa Ibom State capital While asking for the total commitment of delivery officers and directors of planning in ministries who were present…
THE US Secretary of State, Antony Blinken has arrived in Nigeria as he kickstarts his tour of the African continent. Blinken’s African tour is scheduled to take place between January 21 and 26, 2024. The visit is a part of the US’s high-level engagement with Africa, with the Secretary of State planning to travel to Cabo Verde, Côte d’Ivoire, and Angola after his visit to Nigeria. During Blinken’s visit, Nigeria’s Minister of foreign affairs Ambassador Yusuf Maitama Tuggar shall hold bilateral talks with a focus on deepening democracy in the West African subregion, strengthening of trade relations and security cooperation.…
SENATOR Ireti Kingibe says the Senate will summon the Minister of the Federal Capital Territory (FCT) Nyesom Wike and security agencies over the spike in crimes in the nation’s capital. While Abuja has been in the news owing to the rising rate of insecurity in the area, the lawmaker who represents the FCT said upon resumption later in the month, the Senate will invite them to explain his plans to secure the area. “When the Senate resumes, I plan that the (Senate) FCT committees specifically me, needs to sit with the two ministers and the security agencies for them to…
THE Minister of Solid Minerals Development, Dr. Dele Alake has described Nasarawa state as a worthy partner in the drive to develop mineral resources in Nasarawa state and Nigeria at large. Speaking while receiving Nasarawa state Governor, Abdullahi Sule on Thursday in his office, Alake stated that the Governor has provided immense support for the Lithium factory undergoing construction in Nasarawa state, emphasizing that the state has led the way in fostering partnership with the Federal Government for solid minerals development. “The Governor has been very supportive of the solid minerals sector, not because his state is a solid minerals…