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SENATE DEMANDS SUPPLEMENTARY BUDGET FOR MILITARY HARDWARE

SENATE DEMANDS SUPPLEMENTARY BUDGET FOR MILITARY HARDWARE

The Senate grilled the heads of the various security agencies in the country for four hours on Thursday and lamented their inability to tackle the challenges of insecurity despite huge budgetary provisions. The military and other security chiefs in attendance, according to our correspondent’s investigations, however, told the federal lawmakers that the huge budgetary provisions...

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NIGERIAN FIRMS TO SUPPORT LIBERIA ON PORT DEVELOPMENT

NIGERIAN FIRMS TO SUPPORT LIBERIA ON PORT DEVELOPMENT

Nigerian companies within the SIFAX Group have received the management of the Liberian Port Authority in Lagos to establish a partnership which will support Liberia’s maritime industry. The group disclosed this in a statement made available to our correspondent by the group’s Corporate Affairs Manager, Muyiwa Akande, on Wednesday. Akande said, “SIFAX Group has assured...

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INSECURITY WORSENING DESPITE N10.02TN SIX-YEAR SECURITY VOTE – BUDGIT

INSECURITY WORSENING DESPITE N10.02TN SIX-YEAR SECURITY VOTE – BUDGIT

The 2021 budget of the Federal Government contains 316 duplicated projects valued at N39.5bn, BudgIT, a civic-tech non-profit organisation in Nigeria declared on Tuesday. BudgIT said its investigations further revealed that 115 of the duplicated projects were from the Federal Ministry of Health, describing the development as disturbing. The Lagos-based firm disclosed this in a...

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Ahmed appears before Senate, says Army got N1tn in two years

Ahmed appears before Senate, says Army got N1tn in two years

THE Minister of Finance, Budget and National Planning, Zainab Ahmed, on Tuesday said her ministry had released a total sum of  N1.008.47tn to the Nigerian Army between January 2019 and April 2021. The minister stated this when she appeared before the Senate Committee on Army. The panel had summoned the minister following complaints by the...

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Bitcoin loses market share

Bitcoin loses market share

Ethereum is giving Bitcoin, the world’s most popular cryptocurrency, a hard chase in the crypto market. Ethereum is now valued at $3,000 and makes up 15 per cent of the crypto market, according to tracker CoinGecko. READ ALSO:Efcc places red flag on crypto, forex trading others Bitcoin is valued above $58,000 and accounts for about...

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BRENT PRICE SLIDES, PETROL LANDING COST HITS N199.9/LITRE

BRENT PRICE SLIDES, PETROL LANDING COST HITS N199.9/LITRE

Brent, the oil against which Nigeria’s crude is priced, slipped marginally in cost on Sunday, losing $1.29 to close at $66.76/barrel as of 6.43pm, as figures from the Nigerian National Petroleum Corporation showed how high the landing cost of Premium Motor Spirit, popularly called petrol, had been. Industry figures seen in Abuja on Sunday showed...

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First Bank reacts to CBN’s sacking of its board

First Bank reacts to CBN’s sacking of its board

First Bank says it will cooperate with the regulator and that its operations are unhampered. The management of FBN Holdings PLC, the parent company of First Bank, says the holding company and the bank will cooperate with the new directive from the Central Bank of Nigeria. The company made this known on Friday through a...

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CBN fires First Bank directors

CBN fires First Bank directors

The Central Bank of Nigeria wielded its big stick on First Bank of Nigeria Limited as the apex regulator of the activities of commercial banks on Thursday when it fired the entire members of the board of First Bank Nigeria Ltd and FBN Holdings. We had earlier reported that the apex bank queried the Board...