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Nigeria’s 2019 budget still under threat as oil price hovers at $52.72

THE execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at $52.72 per barrel in the international market. The price, which had dropped to as low as $48 last week, before hovering at the current level, showed $7.28 below the $60.00 per barrel benchmark price ...

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Osun State Governor, Oyetola Presents 152.7bn Budget For 2019

Gboyega Oyetola, 5th Executive Governor, State of Osun has presented his administration’s first appropriation Bill to the Osun State House of Assembly. Exactly a month after his inauguration on 27th December, 2018 The Governor on Thursday presented the state’s budget for 2019 fiscal year to the tune of N152, 756, 088, 830.00 The budget , which was tilted the “Budget ...

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‘To implement 2019-22 SDGs Nigeria needs N103trn’ says UN

Nigeria needs not less than 337 billion dollars to implement the Sustainable Development Goals (SDGs) from 2019 to 2022, the UN Support Plan for the Sahel has estimated. According to the exchange rate by the Central Bank of Nigeria, the figure represents 103 trillion Naira, over 11 times more than the proposed N8.9 trillion Budget for 2019. The cost of ...

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CCI Rift settled as MTN pays N19 billion to CBN

South African telecommunications firm, MTN, has reached an agreement with the Central Bank of Nigeria (CBN) to resolve the dispute over illegal transfer of $8.1 billion out of Nigeria, its major market. MTN Group, which announced this via its Twitter handle, disclosed that it made a N19 billion ($53m) payment and is “engaging with banks regarding the agreement.” The company, ...

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Understanding the rules of Hassle free Online Payments

ONE of the fallout of the cashless policy and rapid deployment of electronic payment channels is online payment. Online payment is the use of internet based platforms to pay for goods and services. According to the Nigeria Interbank Settlement System (NIBSS), Nigerians made 33.43 million transactions worth N183.07 billion via the internet from January to September this year. Internet money ...

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#MinimumWage Figure: Labour Rejects Delay Tactics

Labour leaders have rejected plans by the Federal Government to set up another high-powered technical committee on the new national minimum wage. Leaders of the union comprising the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the United Labour Congress (ULC) stated this in a communiqué jointly signed at the end of a national leadership meeting of organised labour ...

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Saraki wants Buhari to assent to PIB, other bills

The President of the Senate, Dr. Bukola Saraki, has urged President Muhammadu Buhari to assent to the Petroleum Industry Governance Bill(PIGB) and other bills critical to national development. Saraki said this in his opening remarks at the 2019 budget presentation by President Muhammadu Buhari, the speech was however not delivered at the ceremony, but was made available to newsmen. He ...

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Access Bank Plc acquires Diamond Bank!

Information reaching us from a reliable source revealed that Access Bank Plc has finally acquired Diamond Bank Plc. It was gathered that the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria, CBN, according to online news medium,TheCable The acquisition was midwifed by the CBN in a bid to ...

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Provide details of money spent fighting Boko Haram, CSOs write Buratai

The Socio-Economic Rights and Accountability Project (SERAP), Enough is Enough (EiE), and BudgIT have sent a joint Freedom of Information request to Tukur Buratai, Chief of Army Staff of Nigeria, requesting him to use his good offices and leadership position to “urgently provide information on the 2015, 2016 and 2017 budget implementation reports of the Nigerian Army, including the amounts ...

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NLC to place governors owing salaries, pensions on ‘watch list’

The Nigeria Labour Congress (NLC) is to liase with the International Trade Union Congress (ITUC) to place names of governors in the states where workers are being owed salaries and pensions for several months on a “watch list”. NAN reports that the ITUC is the world’s largest trade union federation. It was formed on Nov. 1, 2006, out of the ...

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