Barring any unforeseen, the Federal Government may pay as much as N4.65 trillion servicing its debt held by the Central Bank of Nigeria (CBN) this year. Reports indicate that as of the end of last year when President Muhammadu Buhari sought the Senate’s approval to securitise the CBN facility, the ways and means (W&M) stood at N22.7 trillion. At the signing of the 2023 budget, the President said the government could incur an additional N1.8 trillion on interest payment if the plan to convert to a bond fails. The government, according to Buhari, had agreed to pay the CBN MPR…
Author: Elvis Eromosele
…Pantami optimistic privacy law will boost investors’ confidence Nigeria’s data protection market is now valued in excess of N5.5 billion as Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami expressed confidence that a data protection law will boost investors’ confidence in the sector. A data protection bill was recently been approved by the Federal Government as an Executive Bill for legislative action by the National Assembly. Pantami who spoke in Abuja, this weekend, at a media meet organised by the Nigeria Data Protection Bureau (NDPB) to kick-start National Privacy Week, said the week-long activities by the NDPB…
President Muhammadu Buhari has approved a 10-day extension of the expiry date of the old Naira notes from January 31, 2023, to February 10, 2023. Announcing this in a statement on Sunday after a meeting with the President in Daura, Katsina State, Central Bank Governor, Godwin Emefiele, added that the President approved the 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their…
The Central Bank of Nigeria (CBN) has said that the total revenue collected as stamp duty in the last six years is N378.7 billion. The CBN governor, Godwin Emefiele, made this disclosure at the end of the Monetary Policy Committee (MPC) meeting in Abuja. Last year media reports quoted a member of the House of Representatives, Gudaji Kazaure as alleging that some government agencies misappropriated N89.09 trillion collected as Stamp Duty revenues. Mr Kazaure, who represents the Kazaure, Roni, Gwiwa, Yankwashi Constituency of Jigawa State, accused the government agencies of sabotaging the efforts of the Presidential Committee on the Reconciliation and Recovery…
The Lagos State Governor Babajide Sanwo-Olu, on Friday, signed the State’s N1.768 trillion “Budget of Continuity” into law to consolidate the development strides of his administration and satisfy the yearnings of the residents. The Governor said the fiscal document not only “aggressively” focuses on completing ongoing capital projects, but it would also expand intervention programmes and intensify social support to citizens and their means of livelihood. The budget was assented to at a short ceremony held at the Governor’s Office in Alausa. Sanwo-Olu said the spending would further demonstrate his Government’s determination to scale up good governance and quality service…
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has formally unveiled the Nigerian National Domestic Card Scheme, known as AfriGo, in a significant move to strengthen the national payments system and deepen the usage of electronic platforms in Nigeria. Unveiling the first Central Bank-led domestic scheme card scheme in Africa in a virtual ceremony on Thursday, January 26, 2023, Mr. Emefiele said the new card scheme, done in collaboration with the Nigeria Inter-bank Settlement System (NIBSS), would provide more options for domestic consumers while also promoting the delivery of services in a more innovative, cost-effective and competitive…
The National Population Commission (NPC) has revealed that 786,741 workers would be trained and deployed for the 2023 census. NPC’s Director of Public Affairs, Isiaka Yahaya, stated they would consist of 623,797 enumerators, 125,944 supervisors, 24,001 data quality assistants, 12,000 field coordinators, 1,000 data quality managers, 1639 centre administrators and 59,000 LGA level facilitators. Yahaya said: “In preparation for the conduct of the 2023 Population and Housing Census scheduled to begin from 29th March to 2nd April 2023, the National Population Commission has commenced the training of functionaries for the exercise in all states of the federation and the Federal…
Telecommunications services provider, Airtel Nigeria, has announced the launch of eSIM (embedded SIM) – a digital SIM that enables customers to access the same functionality as someone using a physical SIM. The eSIM offers several benefits over the traditional SIM cards as it is quick and simple to set up online, it is planet-friendly (plastic- free/zero carbon emission) and provides an easy extra line as you can use two numbers without needing two phones/handsets. With this service, Airtel joins MTN and 9mobile, which introduced the service earlier in the Nigerian market. The eSIM service is now immediately available on the…
By Michael Owhoko, Ph.D As Nigerians file out to elect a new president on February 25, it is imperative to remind the electorate that a country’s future and destiny are shaped by the choice of personality they elect as president. Entrusting a country’s leadership and resources to someone with impaired vision and dubious national disposition will be a tragedy. In context, the Nigerian President is one of the most powerful in the world given the scope of responsibilities and powers as enshrined in the 1999 Constitution. With 68 items on the Exclusive list and, mere 12 items on the Concurrent…
The National Judicial Council (NJC) has recommended the appointment of nine heads of courts and 84 other judicial officers. The recommended candidates are to be screened and approved by their respective state governors and the House of Assembly. If confirmed, they will serve at the federal and state high courts. A statement issued in Abuja on Wednesday by NJC’s Director of Information, Mr Soji Oye stated that the candidates were presented for recommendations by its panel of interviews during its 100th meeting, presided over by the Chief Justice of Nigeria, Justice Olukayode Ariwoola. Those recommended as Chief Judges included Justice…