The Adamawa government has approved N18.714 billion loan to enable the state access the federal government’s bridging finance facility. Dr. Umar Pela, Commissioner for Information and Strategy, stated this while briefing newsmen at the end of the emergency State Executive Council (SEC) meeting, in Yola on Friday. Pella said the emergency SEC meeting followed a memo written by the state Ministry of Budget and Finance, as a first step in acquiring the loan. He said the loan would help the state to cushion the effect of repayment of federal government’s loans and intervention facilities. “Federal government have opened a window…
Author: Abdallah el-Kurebe
The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating effects of a global pandemic. The Biden administration said Friday that the 2021 deficit, for the budget year that ended September 30 was $360 billion, lower than 2020 as a recovering economy boosted revenues, helping to offset government spending from pandemic relief efforts. Before the deficit ballooned during two years of a global pandemic, the highest the…
Nigeria’s Ambassador to Benin Republic, Gen. Tukur Buratai (Rtd), has said the Northeast lacks development and this is fuelling insurgency in the zone. Buratai, former Chief of Army Staff, stated this at the 24th, 25th and 26th convocation lecture of Modibbo Adama University in Yola on Friday. According to Buratai, who was the Guest Lecturer, the underdevelopment of the North-East was the major factor fuelling insurgency and insecurity in the geopolitical zone. “Any country that does not ensure the development of its people would have security challenges. “We should not rely on the military option as the only way to…
The Nigerian Communications Commission (NCC) has drawn Nigerian telecom consumers’ attention of a new high-risk and extremely-damaging Malware called Flubot. The spokesperson of the commission, Dr. Ikechukwu Adinde in a statement on Thursday said “the Nigeria Computer Emergency Response Team (ngCERT), disclosed that Flubot targets Androids with fake security updates and App installations. Malware is a generic word used to describe a virus or software, designed specially to “disrupt, damage, or gain unauthorised access to a computer system.” “The ngCERT affirmed that Flubot impersonates Android mobile banking applications to draw fake web view on targeted applications and its goal transcends…
The Attorney- General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), said on Friday in Abuja that a presidential panel has indicted Nnamdi Kanu for instigating subversive campaigns against the Nigerian state. The federal government is currently prosecuting Kanu, leader of the proscribed Indigenous People of Biafra, (IPOB) at the Federal High Court Abuja for alleged treason and terrorism offenses. Malami, while briefing newsmen said, that the eventual re-arrest of Kanu in June and some members of his group led to the inauguration of a Presidential Ad-hoc Committee, comprising 24 members from the Ministry of Justice (MoJ),…
The Nigerian National Petroleum Corporation (NNPC), in seven months this year, spent a total of N1.165 trillion on fuel subsidy, oil exploration and remittance to the Federation Account Allocation Committee (FAAC). According to the corporation’s monthly FAAC report for September, the three expenditure items by NNPC gulped 57 per cent of the total revenue distribution of N2.043 trillion in the first eight months of 2021. The balance of N878 billion was distributed for other expenditures, including crude oil lifting inspection expenses. On subsidy which NNPC describes as under-recovery of Premium Motor Spirit (PMS) value shortfall, the corporation spent N714.791 billion…
Nigeria government has identified the sponsors of self-acclaimed activist, Sunday Adeyemo, better known as Sunday Igboho. Attorney General of the Federation And Minister of Justice, Abubakar Malami, SAN, disclosed this at a press conference in Abuja on Friday. According to Malami, a committee set up by the federal government unravelled how Igboho got monies from 43 bank accounts, across nine banks. “The federal government has received the report on financiers of Adeniyi Sunday Adeyemo a.k.a Sunday Igboho. The report revealed that Sunday Igboho is a Director and signatory to Adesun International Concept Limited registered on 23rd April, 2010.” “Adesun International…
An FCT High Court sitting in Jabi on Friday admitted the former board chairman of Nigeria Social Insurance Trust Fund (NSITF), Ngozi Olejeme, to bail. The court in addition adjourned the matter until November 8 for hearing. The court adopted the administrative bail conditions already granted the defendant by the Economic and Financial Crimes Commission( EFCC). The conditions stated that the defendant provided two assistant directors in a government establishments as sureties. The judge, Justice Maryam Hassan in addition in the ruling directed that the travel documents of the defendant be submitted at the court’s registry. On Thursday, the court…
A gyneacologist, Dr Prosper Igboeli, has advised women to shun the abuse of antibiotic drugs for their own health benefit. Giving the advice in an interview in Abuja on Thursday, Igboeli, Managing Director of Mand Hospital, Fertility and IVF Centre, said that such practices contribute to major causes of offensive vaginal odour. The medical expert said that women, who stopped the use of oral contraceptive, also experience increased vaginal discharge. According to him, increased vaginal discharge has been recorded against women who stopped the use of the oral contraceptive. “They have undergone some course of antibiotics and contracted venereal diseases…
The Central Bank of Nigeria (CBN) says banks in the country have remained stable, robust and resilient in spite of the COVID-19 pandemic. The Director, Banking Supervision of CBN, Haruna Mustafa, said this at the 2021 Financial Correspondents Association of Nigeria (FICAN) workshop in Ibadan on Friday. Mustapha, represented by Mr Adekunle Adeniji, the Assistant Director, Banking Supervision, CBN, said the Capital Adequacy Ratio (CAR) rose to 15.21 per cent as at August, Liquidity Ratio (LR) rose to 42.23 per cent. He said non-performing loan ratio improved from 6.58 per cent to 5.9 per cent as at August 2021, while…