THE Federal Government is seeking from the World Bank and the African Development Bank the sum of $3.5bn (N697bn) in emergency loans to fill a growing gap in its budget in the latest sign of the economic damage being wrought on oil-rich nations by tumbling crude prices. The $2.5bn (N498bn) loan from the World Bank […]
Read More The Federation Accounts Allocation Committee on Tuesday shared the sum of N387.7bn among the three tiers of government The allocation, which was for the month of December 2015, represented an increase of N17.88bn over the N369.8bn distributed in November. Addressing journalists in Abuja shortly after the meeting, the Permanent Secretary, Federal Ministry of Finance, Mr. […]
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NATIONAL Security Adviser (NSA) Gen. Babagana Monguno (rtd), Minister of Finance, Kemi Adeosun, the Governor of Lagos State, Akinwumi Ambode, Minister of the Federal Capital Territory (FCT), Mohammed Musa Bello as well as the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele are to appear before a House of Representatives panel over a contract […]
Read More FEDERAL government has given the direction it will take to run the economy in 2016. According to the federal government, it will fully implement the 2016 budget so as to recover from the slowing GDP growth and to forestall the remote possibility of recession. A statement from the Ministry of Finance Thursday said the Minister […]
Read More NIGERIA and the United Arab Emirates on Tuesday in Abu Dhabi signed six agreements to enhance bilateral relations between them. According to a statement by the Special Adviser on Media and Publicity, Mr. Femi Adesina, the signing of the agreements on trade, finance and judicial matters was witnessed by President Muhammadu Buhari and the Crown […]
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NIGERIA Federal Government yesterday, vowed that any government employee taking advantage of the loopholes in the payroll system to collect multiple salaries would be fished out and prosecuted. The Minister of Finance, Mrs. Kemi Adeosun, who gave the warning in Abuja, also stated that the government would ensure that all its employees were enrolled on […]
Read More The decision by the Minister of Finance, Mrs. Kemi Adeosun, to include the Nigerian Communications Commission among the Federal Government agencies that must submit their annual budgets to the ministry for approval has pitted her against the National Assembly. Adeosun had during a media briefing in Abuja last week after the first Federal Executive Council […]
Read More The federal government has ordered the audit of all revenue generating agencies in the country in order to ensure that all funds collected are remitted into its coffers. Finance Minister, Mrs. Kemi Adeosun, who briefed State House correspondents after the first Federal Executive Council (FEC) meeting this year, also said that the relevant agencies had […]
Read More The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday, said the Nigerian Maritime Administration and Safety Agency had not been remitting the revenues generated to the government’s coffers. The immediate past Director-General of NIMASA, Patrick Akpobolkemi, is currently facing 40 counts of fraud and money laundering to the tune of N34.5bn. Adeosun specifically stated that […]
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The Federal Government on Wednesday denied withdrawing the 2016 Budget proposal presented to the National Assembly in December. Reports, especially on social media, had attributed the purported withdrawal to suspicious bloating of budgetary votes in the proposal. Briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting presided over by President […]
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The news has been awash of the visit of the Managing Director of the International Monetary Fund, Christine Lagarde, to Nigeria on a working visit to Africa but dedicating a whole four days to Nigeria. Not surprising, she did us the “honour” of having to touch down on our soil first. Trust the ludicrousness of […]
Read More The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, will meet with President Muhammadu Buhari, as the country seeks to spend its way out of an economic crisis fuelled by plunging oil prices. The Fund said yesterday that Lagarde would meet Buhari and his Finance Minister Kemi Adeosun. “I look forward to productive […]
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