The Securities and Exchange Commission (SEC) has expressed optimism that the Investment and Securities Bill (ISB) will be passed into law by President Muhammadu Buhari before 29th May. At a news conference held on the first quarter post-Capital Market Meeting on Thursday in Abuja, SEC Director-General, Mr Lamido Yuguda expressed the optimism that the President would sign the ISB before …

An ad hoc committee investigating “illegal sales” of crude oil by officials of the defunct Nigerian National Petroleum Corporation (NNPC) has commenced hearing into the missing oil. The committee, headed by Hon. Mark Gbillah, commenced the investigation on Tuesday with an appearance by the Code of Conduct Bureau. It would be recalled that the green chamber had resolved to embark …

A federal lawmaker from Rivers State, Hon. Farah Dagogo has called on the Federal Government to jettison its planned disbursement of $800 million to about 50 million Nigerians to serve as a cushion for the proposed Premium Motor Spirit (well known as petrol) subsidy removal. He said instead the funds should be invested in critical sectors such as education and …

The Northern Youth Council of Nigeria has warned against the Federal Government’s planned removal of fuel subsidy in the country, threatening that such a move would be resisted. While expressing their opposition to the proposed fuel subsidy removal, they raised concern over the potential impact of such a move on the “already struggling economy and the Nigerian people”. The Council …

After an initial rise in oil price earlier in the week, prices inched lower yesterday as the market weighed worsening economic prospects against expectations of United States crude inventory declines and plans by OPEC+ producers to reduce output. Opec+ is a group of 23 oil-exporting countries which meets regularly to decide how much crude oil to sell on the world …

The Federal Government has secured $800 million from the International Bank for Reconstruction and Development (well known as the World Bank) to provide post-petroleum subsidy palliatives for over 50 million Nigerians ahead of June 2023. After this week’s Federal Executive Council chaired by President Muhammadu Buhari at the Aso Rock Villa, Abuja on Wednesday, the Minister of Finance, Budget and …

The former Governor of the Central Bank of Nigeria (CBN), Muhammed Sanusi has said that Nigeria is currently more divided than it was during the civil war between July 1967 and January 1970. He said Nigeria has been “divided dangerously” along ethnic and religious lines, putting the integrity of public institutions in question. At the Third Nigerian Leadership Colloquium in …

The Federal Government on Thursday blamed powerful interests for the massive deforestation in states where lumberjacks fell trees for the commercial production of charcoal. It said the activities of these interests were against the federal government’s target to plant 25 million trees by 2030 under the afforestation policy of the Buhari regime. Minister of Environment, Barrister Mohammed Abdullahi disclosed this …

Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December 2022, the Debt Management Office (DMO) disclosed on Thursday. According to the DMO, the new figure is made up of the domestic and external total debt stocks of the Federal Government and the sub-national governments (36 state governments and the Federal Capital Territory). The DMO …

The Special Assistant on Payment to the Governor of the Central Bank of Nigeria (CBN), Mrs Mary Fasheitan has said that usage of the digital naira called eNaira currency, will address the scarcity of cash in the country. Fasheitan stated this while sensitising traders and people of the state in Akure to the need to embrace the cashless platform for …