The Nigerian Senate has officially confirmed Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN), along with Emem Usoro, Muhammad Abdullahi, Philip Ikeazor, and Bala Bello as Deputy Governors. The rigorous screening process commenced today, initiated by a motion presented by the Senate’s Majority Leader, Opeyemi Bamidele. Recall that President Bola Tinubu had previously granted his approval for the nomination of Olayemi Cardoso as the new CBN Governor, pending the Senate’s confirmation. In anticipation of this confirmation, Cardoso assumed the role of CBN Governor in an acting capacity just last week. This development marks a pivotal moment…
Author: Editor Francis
The Honourable Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, has unveiled a comprehensive restructuring plan for the National Safety Nets Programmes, along with the appointment of new heads for various clusters within these programmes. The announcement came during a meeting between the minister and the management and staff of the National Social Investment Programme Agency in Abuja. Dr. Edu underscored that these changes align with President Tinubu’s Renewed Hope Agenda and are aimed at injecting renewed energy and a clear sense of direction to achieve the desired results. She emphasised that programmes like N-Power were initiated to…
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have jointly declared a nationwide strike scheduled to commence on October 3, 2023. This decision follows what the labour unions have described as the government’s “failure” to effectively implement policies aimed at alleviating the hardships experienced by Nigerians due to the removal of the subsidy on Premium Motor Spirit (PMS). During a virtual National Executive Council meeting held via Zoom, NLC’s national president, Joe Ajaero, disclosed that discussions had taken place with TUC officials to deliberate on their course of action. Ajaero emphasised the need for both labour centres…
Secretary of State Antony J. Blinken held a crucial meeting with representatives from the Economic Community of West African States (ECOWAS), member states, Mauritania, and the ECOWAS Commission to address the intricate political crisis currently gripping Niger. During the meeting, Secretary Blinken expressed his gratitude to ECOWAS for its leadership in spearheading efforts to find a resolution that upholds Niger’s constitutional order. In a unified stance, all partners emphasised the importance of the National Council for Safeguarding the Homeland in Niger promptly releasing President Mohamed Bazoum, his family, and all individuals who have been detained unlawfully. Secretary Blinken also outlined…
Egypt will hold a presidential vote on December 10 to 12, 2023, the country’s election authority announced Monday. Walid Hassan Hamza, chairman of Egypt’s National Election Authority, said the winner will be declared on December 18. “The final results of the presidential elections will be announced and published in the official newspaper no later than January 16th. Therefore, the entire election process will conclude before January 17th, 2024.” Although he has yet to formally announce his candidature, President Abdel Fattah al-Sisi is widely expected to win reelection. Experts had predicted that Sisi would move forward with the 2024 election ahead…
In commemoration of the Eid-ul-Maulid celebration, which marks the birth of the Holy Prophet Muhammad (Peace be upon him), the Federal Government of Nigeria has officially declared Wednesday, September 27th, 2023, as a public holiday. The announcement was made by the Minister of Interior, Olubunmi Tunji-Ojo, in Abuja on Monday. The Minister extended his warm congratulations to the Muslim faithful, both within the country and in the diaspora, as they prepare to observe this significant occasion. He emphasised the importance of embracing the values and virtues epitomised by the Holy Prophet Muhammad, including love, patience, tolerance, and perseverance. “His admonition…
The Tertiary Education Trust Fund (TETFund) has granted 727 Research Grants to researchers from public tertiary institutions, amounting to over N18 billion, through the National Research Fund (NRF). These grants are intended to support applied research across various academic fields. Additionally, TETFund has initiated the establishment of central multipurpose laboratories in select Nigerian universities. The agency’s Executive Secretary, Arc. Sonny Echono, inaugurated an ad-hoc committee to oversee this infrastructure development, aiming to enhance research capabilities in the country. According to him, “It is universally accepted that innovative research and its commercialization is clearly the driver of economic growth and prosperity…
The Federal Government announced on Monday that no world leaders have been invited to the 63rd independence anniversary celebration set for October 1. This decision aligns with the government’s choice for a subdued celebration, as revealed by the Secretary to the Government of the Federation, George Akume, during a press conference in Abuja. He said, “Low keyed celebration has nothing to do with whether we’re not doing well. Economic times are hard, we are looking at it not just at the national level but also as a family. We have not invited world leaders. During the inauguration of the President…
The Cement Producers Association of Nigeria has raised concerns about the federal government’s plan to implement concrete roads, warning that it could potentially lead to a significant increase in cement prices, potentially reaching as high as N9,000 per bag, compared to the current price of N5,000. In a joint statement issued by the National Chairman, Prince David Iweta, and the National Secretary, Chief Reagan Ufomba, the association has called upon the government to take permanent measures to address the recurring issue of rising cement prices. They emphasised the importance of encouraging increased participation in the cement industry to stabilise prices.…
In a recent report by the World Bank titled ‘Remittances Remain Resilient But Are Slowing,’ it was revealed that Nigeria played a pivotal role in Sub-Saharan Africa’s remittance landscape for the year 2022. The report indicates that the continent received an estimated $52.9 billion in remittances during that year, with Nigeria alone contributing $20.1 billion, accounting for a significant 38 percent of the total inflow. This surpasses the contributions from other key African nations like Ghana (11.9 percent), Kenya (8.5 percent), Tanzania (25 percent), Uganda (17.3 percent), and Rwanda (21.2 percent). These funds have served as a financial lifeline for…
According to the information gathered, the Benue State Commissioner of Information and Tourism, Mathew Abo, has been abducted. Abo was abducted from his residence in the Zaki-Biam community in the Ukum Local Government Area of the state on Sunday night. He had recently been sworn in as a member of the Benue State Executive Council on August 29th, 2023. His hometown, Ukum local government area, has been plagued by criminal activities. According to witnesses, the commissioner was abducted by gunmen who arrived on four motorcycles at his house in Zaki-Biam, a rural town known for having the country’s largest yam…
Over two weeks after the Central Bank of Nigeria (CBN) pledged to settle over $10 billion in foreign exchange debts owed to Deposit Money Banks (DMBs), investigations by The PUNCH, followed by GOVIMA, revealed that the CBN has yet to fulfil its promise. During this period, the Nigerian naira continued to struggle, with Bureau De Change (BDC) operators selling it for rates ranging between 990/$ and 995/$ in Lagos, Abuja, and Kano. However, on the Investor & Exporter forex window, the naira did experience a slight uptick, appreciating to 747.76/$ on Friday from 772.98/$ on Thursday. The former acting CBN…