Author: Adejuyigbe Francis

Governor of Central Bank of Nigeria, CBN, Mr. Yemi Cardoso said yesterday that the apex bank will soon introduce a new set of foreign exchange laws and guidelines to address naira depreciation and achieve exchange rate stability. The CBN, according to him, will also conduct a new recapitalisation exercise for the banking industry, by directing banks to increase their minimum capital base to a level sufficient to support the vision of a $1trillion economy. Cardoso also disclosed that the CBN will introduce a new licensing framework for fintechs and payment banks, warning that operators found engaging in activities outside their…

A total of 1.63 million Nigerians out of the 1.8 million persons currently living with HIV in the country are on Antiretroviral treatment, the National Agency for the Control of AIDS ( NACA), has said. Director-General of the agency , Dr Gambo Aliyu, stated this Friday while briefing newsmen ahead of this year’s World AIDS Day, Nigeria has the second-largest burden of HIV infection. Aliyu said Nigeria like many other countries has made significant strides in the fight against HIV/AIDS, adding that there is however still much to be done to achieve the goal of ending AIDS as a public…

Gross Domestic Product (GDP) grew by 2.54 per cent (year-on-year) in real terms in the third quarter of 2023. This growth rate was higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The performance of the GDP in the third quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.99 per cent and contributed 52.70 per cent to the aggregate GDP. The agriculture sector grew by 1.30 per cent, from the growth of 1.34 per cent recorded in…

Minister of the Federal Capital Territory (FCT), Nyesom Wike,  has directed existing landowners with Certificate of Occupancy (C of O) to re-certificate them. Speaking on a live television programme monitored by Daily Trust in Abuja, Wike said the new C of O would require a National Identification Number (NIN) and Bank Verification Number (BVN). The minister said since assumption of office, he had refrained from signing C-of-Os because of the need to introduce enhanced security measures. He said the new C of Os would cost individuals N50,000 and corporate bodies, N100,000 each. He said, “There are a lot of discrepancies,…

Pep Guardiola has asked for patience before deciding whether Manchester City are guilty of breaches of financial rules but insists he’s more likely to stay at the club “if we are in League One than if we were in the Champions League.” Everton’s 10-point penalty for one breach of the Premier League’s financial rules has opened the door for City to receive an even harsher punishment if the 115 charges made against them in February are proved. Guardiola, however, said the cases are “completely different” but confirmed he would stay on as manager if City were relegated or expelled from the league. “You are questioning like…

The Court of Appeal sitting in Lagos State has affirmed the election of Francis Nwifuru as the duly elected Governor of Ebonyi State. In a ruling on Friday, a three-man panel said the appeal filed by Ifeanyi Odii of the Peoples Democratic Party (PDP) lacked merit. Recall that the Ebonyi Governorship Election Petitions Tribunal has affirmed the election of Nwifuru of the All Progressives Congress (APC)as the governor of the South Eastern state. Nwifuru, the governorship candidate of the All Progressives Congress (APC) in the March 18 election, polled 199, 131 votes to defeat Odii, who secured 80, 191 votes. While Bernard Odoh,…

The Appeal Court sitting in Lagos State has dismissed the petition filed by Sen. Ovie Omo-Agege challenging the victory of Hon Sheriff Oborevwori for lacking in merit. Omo-Agege is of the All Progressives Congress, APC, while the governor is a member of the Peoples Democratic Party, PDP. A three-member panel of the appellate court handed down the judgement on Friday, thereby upholding the judgement of the Election Petition Tribunal in Delta State. The Peoples Democratic Party, PDP, in Delta State has congratulated Governor Oborevwori. In a congratulatory message signed by the PDP Publicity Secretary, Mr Ifeanyi Osuoza, he said the…

Kaduna State Governor Uba Sani has applauded the Court of Appeal verdict which affirmed his election in the March 18 governorhip election. Reacting to the appeal court judgement on Friday, Sani described the verdict as a “testament to the strength of our legal institutions, a win for democracy and a validation of the people’s will”. Muhammad Lawal Shehu, Chief Press Secretary to the Governor, in a statement on Friday, said Sani, while expressing joy and gratitude at the confirmation of his victory by the Appeal Court, also extended a hand of fellowship to his opponents in a bid to move…

Former Manchester City striker Mario Balotelli is “in good health” after being involved in a car accident, say his Turkish club Adana Demirspor. Giornale di Brescia reported the incident happened in Balotelli’s hometown Brescia on Wednesday when his vehicle crashed into a wall. No-one else was involved and the 33-year-old was able to walk away from the car, which was severely damaged. The former Italy international is currently recovering from knee surgery. “We would like to inform you that our player Mario Balotelli, who was involved in a car accident yesterday in his country, Italy, is in good health, resting…

The Appeal Court will today deliver judgment on an appeal brought by the governorship candidate of the Peoples Democratic Party (PDP) in Ogun State, Ladi Adebutu, against the election of Governor Dapo Abioudn of the All Progressives Congress (APC). Adebutu had earlier approached the tribunal to challenge the victory of Governor Abiodun in the March 18, 2023, governorship election. The PDP candidate had alleged that the election that returned Abiodun did not comply with the provisions of the Electoral Act. He also claimed that the election was marred with irregularities and corrupt practices, adding that over 40,000 voters were disenfranchised due to…

As part of efforts to transform the country’s creative landscape, the minister of Art, Culture and the Creative Economy Mrs. Hannatu Musa Musawa is seeking the collaboration of the National Bureau of Statistics to provide quality government owned data. The Minister’s plan was revealed when she received the Statistician General and his management staff in her office in Abuja. Explaining that data is essential to enable the ministry build policies that will attract surplus to the country’s GDP, she said the absence of data for the sub-sectors under the mandate of her ministry necessitated her seeking the expertise of the…

The Secretary to the Government of the Federation, George Akume, has inaugurated a committee to review the Public Procurement Act 2007 in line with current economic realities in the country. Akume, in his inaugural speech, recalled that the Public Procurement Act 2007 was signed into law on June 4, 2007, by the late President Umaru Musa Yar’Adua. The SGF explained: “The act provides the legal and institutional framework for the enthronement of transparency, accountability, value for money, and efficiency in the procurement of works, goods, and services within the Ministries, Departments, and Agencies. “The Public Procurement Act 2023 established the…