The Central Bank of Nigeria (CBN), on Thursday said it plans to fund the value chains of nine agricultural commodities to the tune of N432bn in the 2020 planting season. CBN outlined the nine commodities to include rice, cotton, oil palm, tomato, cassava, poultry, fish, maize, cocoa and livestock/diary. Senior officials of the bank disclosed […]
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The Federation Accounts Allocation Committee (FAAC), today (Wednesday) at its meeting via Virtual Conferencing, chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa-Dutse, shared to the three tiers of government, a total sum of N547.309 billion as federation allocation for the month of May, 2020. From this amount, inclusive […]
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The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) which measures inflation increased to 12.40 per cent year-on-year in May 2020. The NBS made this known in its latest CPI report released on Wednesday. The bureau said this was 0.06 per cent points higher than the rate recorded in April which was […]
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Former Nigeria’ vice president, Alhaji Atiku Abubakar, on Tuesday, warned that Nigeria is already on the way to financial insolvency given the amount being used to service loans and the low revenue being generated by the country. The former Vice President reached the conclusions from the revelation in Nigeria’s First Quarter 2020 financial reports in […]
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The Vice President for Agriculture, Human and Social Development at the African Development Bank, AFDB, Dr Jennifer Blanke, has resigned from her position, PUNCH reports. The bank made this known on Wednesday in a statement, saying Blanke’s resignation would take effect from 4th July 2020. She was quoted as saying:- “I am leaving purely for […]
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The Nigerian Senate has confirmed the nomination of Lamido Yuguda as the new Director-General of the Securities and Exchange Commission, SEC. During the plenary on Wednesday, the Senate also confirmed the nomination of Reginald Karawusa (Imo), Ibrahim Boyi (Katsina) and Obisan Joseph (Lagos) as full-time commissioners of the agency. Their confirmation followed the consideration of […]
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The glowing reviews and commendations have not stopped coming in since Pan African financial institution, United Bank for Africa (UBA) Plc, recently upgraded its Mobile Banking app. Over the past few weeks following the upgrade, social media sites including twitter, Instagram and even Facebook have been agog with excellent comments about the ambience, functionality and […]
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The Petroleum Products Pricing Regulatory Agency, (PPPRA) has removed the cap on the price of Premium Motor Spirit (PMS), which is also known as petrol, giving marketers freedom to fix price of the commodity and sell above the price it stipulated. In a document released, yesterday evening, by the PPPRA, titled, ‘Market Based Pricing Regime […]
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Oil prices increased marginally on Wednesday as Brent crude, the benchmark against which Nigeria’s crude is priced, rose to $40 per barrel for the time since March. Brent crude rose by 43 cents, or 1.1 per cent, to $40 per barrel, as of 02:52 GMT. This came as the Minister of State for Petroleum Resources, […]
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The Petroleum Products Pricing Regulatory Agency, (PPPRA), has announced a new pump price band of N121.50 to N123.50 per litre for Premium Motor Spirit, (PMS) which is also known as petrol. The PPPRA, an agency of the Federal Government, made this announcement in a circular to fuel marketers which was May 31, 2020. The sharp […]
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