Britain on Thursday launched a coronavirus winter battle plan to protect jobs and boost the fragile economy, after surging infections sparked fresh nationwide measures to slow the spread. Finance minister Rishi Sunak unveiled his new jobs protection scheme that will support wages of staff keeping at least one-third of their usual working hours. The plan,…
FINANCE
JUST IN: FG apologises to financial account holders over re-registration order
Following massive outrage on social media, the Federal Government has apologised to all account holders in financial institutions for asking them to register their details again. On Thursday, the FG had demanded all account holders in banks, including insurance companies, to fill and submit a Self-Confirmation form. It tweeted: “This is to notify the general…
COVID-19: Kano secures $1.1m grant from EU, Japan
Kano State has secured $1.1 million grant from European Union and Japan through the United Nations Development Programme (UNDP) to cushion effects of COVID-19 pandemic in the state. Abba Anwar, the Chief Press Secretary to Gov. Abdullahi Ganduje, stated this in a statement on Wednesday in Kano. Anwar disclosed about 1,600 individuals and 630 Small…
Tambuwal signs N164bn 2020 revised budget
Sokoto Governor Aminu Tambuwal has signed a revised 2020 appropriation bill of N164 billion. He also approved tax relief for businesses and suspension of levies for tax payers to cushion effects COVID-19 pandemic. While signing the revised Appropriation Bill document before the commencement of the State Executive Council meeting, Tambuwal expressed satisfaction “with the new…
AfDB earmarks $10bn loan for road repairs in Nigeria
African Development Bank (AfDB), through its transport sector identification mission, seeks to assist the Federal Roads Maintenance Agency (FERMA) with loan facility to address the funding gap in the road repair efforts of the Agency. This was disclosed yesterday when a delegation led by Dr. Abayomi Babalola, a transport Specialists/Consultant to the Bank, visited the…
Multi million dollar launched for Africa’s female fund managers
African leaders are putting women front and center of efforts to drive the continent’s economic growth through a game-changing fund that invests in women fund managers and also provides technical assistance. The launch of the African Women Leadership Fund (AWLF) will provide capital to both first time and experienced fund managers in support of UN…
FG, Labour seal agreement on new minimum wage
Respite came as the prolonged negotiations between the Federal Government and the Labour have reached an agreement on.the new minimum wage. The agreement, which was sealed by the the Minister of Laboyr, Chief Chris Ngige, and NLC President, came out with a deal on the percentage increase on the consequential adjustment in workers’ salaries for…
FAAC: FG, states, LGs share N693.529bn
The Federation Account Allocation Committee (FAAC) on Thursday in Abuja, shared a total of N693.529 billion to the three tiers of government for the month of September, 2019. The N693.529 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue in the month. A communiqué read by the Accountant General of…
Nigerians back Buhari’s cost-cutting measures, demand more
Nigerians are reacting to the Federal Government’s fresh cost cutting measures, which they believed is in right direction. Some Nigerians suggest that Nigeria would do with a bicameral legislature rather than the current bicameral National Assembly of the Senate and House if Representatives. Also, other Nigerians believed the cost saving measure should go down to…
Border close in Nigeria takes toll on commodities’ prices
The closure of Nigeria’s borders by the Federal Government continues ti take its toll on prices of basic commodities. The National Bureau of Statistics (NBS), said in its report that headline inflation rose for the first time in three months in September, advancing by 22bps to 11.24% YoY to beat Bloomberg consensus estimate of 11.00%…