Medium

Nigerian government approves new debt management strategy

The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...

IGP sues Sahara Reporters, publisher over tenure extension bribe report

The Inspector-General of Police, Mohammed Adamu, has instructed his team of lawyers to commence legal action against the publisher of Sahara Reporters, Omoyele Sowore, over a report by the medium wherein the IGP was alleged to have expended N2 billion on his purported quest to get a one-year tenure extension at the helms of the Nigeria Police Force, spokesman, Frank Mba said on Monday. Adamu was due to retire from the service on February 1 but his tenure has now been extended by President Muhammadu Buhari, albeit under controversial circumstances. Mba, in a statement in Abuja said the three-month extension of tenure of the Inspector General of Police (I-G), Mohammed Adamu, is strictly the prerogative of the President which needed no bribe to effect. He said the reports in some sections of ...

Abuja residents: Why we buy ‘second hand’ clothes

Some residents of the Federal Capital Territory (FCT) in Bwari Area Council say they patronise the clothes not only because of its affordability but also for the upgraded standard. The buyers spoke in separate interviews with newsmen at the Dutse-Alhaji market on Sunday in Abuja. The buyers were seen patronising the items from their dealers in the market, which was known for the cheap sale of second hand clothing in the district. Ada Micheal, one of the buyers, told newsmen that when it came to especially shoes, school or women bags, she preferred the second hand ones because they were almost new and last longer. ” Not all of these items you see here are fairly used; most of them are new or almost new. ” Some even come with tags from probably the stores they were initially hung for sale or...

CBN: Naira to fall further in January

Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...

Only good governance will silence social media criticism – NCC chair

The Chairman of the Nigerian Communications Commission (NCC), Professor Adeolu Akande, has said only good governance will silence social media from its criticism of government. Professor Akande said the agitation against the social media because of criticism of government through the medium will not stop such criticism, saying when government performs well, the social media is bound to respond positively. “When government performs well, the social media is abuzz with praises for the government. When government fails, the social media is abuzz with condemnation. The best way to silence the social media is to strive and do well,” he submitted. Professor Akande spoke as Guest Speaker at the Annual Lecture of the Nigerian Union of Journalists, Oyo State chapter in Ibadan Tuesday. Speaking on t...

Central bank chief to engage governors on pension funds utilization for infrastructure

Bloomberg Mr Godwin Emefiele, the Central Bank Governor, will tomorrow Wednesday, 2nd December 2020, meet with Governors of the 36 states, under the aegis of Nigerian Governors’ Forum, to discuss how to access Pension Funds for Infrastructure Development in the country. Abdulrazaque Bello-Barkindo, Head, Media and Public Affairs of NGF, made this known in a statement made available to newsmen on Monday. According to Bello-Barkindo, the forum will be the 22nd NGF Teleconference meeting which would also seek to evolve a new national security order that will ensure safety of lives and property nationwide. “As part of the effort, beginning at the subnational level, the Forum will be receiving zonal updates on SARS and Internal security at its Wednesday meeting. “Similarly, the Forum will also ...

Nigerian government seeks new Eurobond

The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...

2021 budget: Nigerian government to feed, deworm children with over N142 billion

In 2021, under the Home-Grown School Feeding (NHGSFP), the federal government has penned N142.3 billion to feed 9.86 million children, deworm seven million children and recount the pupils. The post 2021 budget: Nigerian government to feed, deworm children with over N142 billion appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.

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