Data collated from the Central Bank of Nigeria (CBN) has disclosed that the Nigerian government’s total borrowing through Ways and Means Advances has risen by 96.54 per cent or N8.92tn in two years. Ways and Means Advances is a loan facility through which the CBN finances the government’s budget’s shortfalls. According to a year-on-year analysis of the data, the borrowing rose from N9.24tn as of January 2020 to N18.16tn as of January 2022. The Debt Management Office (DMO) however says that N18.16tn owed by the federal government to the apex bank is not part of the country’s total public debt…
Author: Newsdesk
The Central Bank of Nigeria (CBN) has disclosed that citizens spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020. According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for their wards to study abroad during the period under review. The BoP report also revealed that Nigerians paid $11.01bn for healthcare-related services in foreign countries. The amount spent on these foreign services is almost equivalent to the current value of the country’s foreign reserves which stood at $39.51bn as of March 23, highlighting its high cost. These statistics and their impacts…
Kaduna state government says the military has secured the Kaduna bound train from Abuja trapped by terrorists. A statement by the Commissioner, Ministry of Internal Security and Home Affairs, Samuel Aruwan Tuesday morning said the state government “received multiple reports of an attack on the Abuja-Kaduna train service at around Kateri-Rijana general areas. “Relevant action agencies were urgently contacted, and robust deployments of personnel were swiftly made to the area to secure the passengers on board. “Efforts are ongoing to convey the passengers from the location and others that sustained injuries have been rushed to hospitals for urgent medical attention.…
The Office of the Auditor General for the Federation (AUGF) has issued 50 audit queries against the Nigeria Social Insurance Trust Fund (NSITF), for alleged mismanagement of N87 billion without the necessary approvals or evidence of such expenditures. It also queried alleged undue ministerial interference in the management of the finances of the Fund in violation of government circular number ECD/P/230 of 18th October, 1996 which prohibits supervising ministries from interfering in the finances of parastatals under her. Recall that a former chairperson of the Fund, Ngozi Olejime is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC)…
Following terrorists’ attack on the Kaduna International Airport and killing of a staff of the Nigeria Airspace Management Agency (NAMA) on Saturday, Azman Airline has suspended its operation to Kaduna. The airline on its Twitter handle @AzmanAir, confirmed on Monday that it suspended operation, however leaving many passengers stranded at the airport due to limited flight connectivity in and out of Kaduna. “The Management of Azman Air will like to inform the general public that we will be halting our operations into Kaduna Airport for a few days. “We understand the security situation around the airport has been handled and…
Former president Olusegun Obasanjo shouted down supporters of vice president Yemi Osinbajo who came to drum support for his presidential ambition in Abeokuta, Ogun state. The vice president’s supporters had stormed the Olusegun Obasanjo Presidential Library, Abeokuta, the venue of the Coalition for Democracy on Africa (CoDA) summit attended by the vice president on Monday and at the meeting was ongoing, supporters of Osinbajo stormed the venue, chanting, ‘PYO for President.” Disturbed by the development, Obasanjo who came out as if he wanted to address the supporters, scolded them and told them to keep quiet, adding that his library was not a…
Niger state governor and chairman of the North Central Governors Forum (NCGF), Abubakar Bello has paid glowing tributes to the national leader of All Progressives Congress (APC), Bola Tinubu as he celebrates his 70th birthday. Bello, in a congratulatory massage described Tinubu as “a visionary and transformative leader, who has remained a colossus and a phenomenon in the annals of the ruling party and the nation’s political history.” The governor noted that Tinubu’s exceptional political career and service has inspired so many people and has produced many successful leaders in the country. He added that the APC Leader is an…
Following the scheduled FIFA Qatar 2022 World Cup Qualifiers between Nigeria and Ghana on Tuesday, the Federal Government has approved that civil servants should close from work at 1pm. A circular No. HCSF/3065/Vol. 1/146 addressed to all permanent secretaries of ministries and signed by the Permanent Secretary (Welfare Service Office), Dr. Ngozi Onwudiwve said the development is to mobilize support for the Nigerian Team. It further requested Permanent Secretaries to give wide publicity to achieve the desired result. “As you are aware, the Super Eagles of Nigeria will be meeting the Black Stars of Ghana in continuation of the 2022…
Terrorists Monday evening attacked Abuja-Kaduna train with 970 passengers on board, DAILY NIGERIAN has reported. The report also said that the terrorists detonated bombs on the railtrack and demobilised it. Credible sources confirmed that the attack occurred between Katari and Rijana. One of the passengers also confirmed in a telephone call that the attackers surrounded the train, shooting sporadically. “All the passengers are currently lying on the floor of the train. The bandits are shooting sporadically. We are in serious danger,” the passenger said. Details later…
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina has described the demise of the former Vice Chancellor of the Federal University of Technology Akure (FUTA), Professor Adebiyi Daramola, as a great loss to his family, friends, associates and the academia. He said Professor Daramola was a brilliant academic who contributed significantly to the development of FUTA. In a tribute titled, “Professor Biyi Daramola: A classmate, friend, and twin brother,” Adesina said even in the face of a very challenging health situation, Professor Daramola never lost his voice, positive attitude, concern about Nigeria and how to make it…