Category: Finance - Page 13 - African News Today

Bleak Christmas As Nigerian Federal Civil Servants Lament Delayed December Salaries

24Dec

By Obiajulu Joel NwoluNo Comments

Finance, Labour, News, Nigeria

Bleak Christmas As Nigerian Federal Civil Servants Lament Delayed December Salaries

The hope of many federal civil servants to mark this year's Christmas is currently hanging as some of them lament the non-payment of their December salaries by the government. Less than a few hours to Christmas, some of the civil servants at the Federal Secretariat on Friday complained that they are yet to be paid, PM News reports. According to some of them, the development has ruined their plans to travel and celebrate the season with their loved ones. One of those affected, identified only as Mrs Okoro, said it was difficult for her to travel as she could not afford to buy some items to share with her siblings at her home town. “I actually wanted to travel hoping that the Federal Government will release salaries before now. Looking at the situation, I cannot do so since I don...

Don’t Pay Money To Nigerian Immigration Officials, Payment For Passport Now Online – Interior Minister

21Dec

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

Don’t Pay Money To Nigerian Immigration Officials, Payment For Passport Now Online – Interior Minister

The Nigerian government has warned Nigerians to stop patronising touts and officials of the Nigerian Immigration Service for the application of their documents, as payments for Nigerian passports have been digitalised. This was disclosed by the Minister of Interior, Rauf Aregbesola, during the rollout of the Enhanced e-Passport with Polycarbonate Data Page and other security features in Ibadan, Oyo State on Monday. “Part of the reforms is the migration of passport application and payments to digital platforms. But we regret to observe that applicants still patronise touts and unscrupulous officials in the hope to beat the system and get expedited services. "When they were disappointed, they come to report to us. Of course, we have zero tolerance for corruption and subversion of due pr...

Subsidy: NLC Fixes Jan 27, Feb 1 For Nationwide Protests

18Dec

By Obiajulu Joel NwoluNo Comments

Finance, Labour, News, Nigeria

Subsidy: NLC Fixes Jan 27, Feb 1 For Nationwide Protests

The Nigeria Labour Congress has warned the Federal Government against plans to remove the fuel subsidy in 2022, saying the action will be met with nationwide protests. The congress said the planned rallies would commence without warning should the FG announce new fuel prices next year. The union disclosed it would stage a protest across the 36 states of the federation on January 27, 2022, which would culminate in the submission of protest letters to all the state governors. It said this would be followed on February 1 with another nationwide protest that will also hold in Abuja. These were part of the resolutions made by the NLC’s National Executive Council meeting, which held at the Labour House, Abuja, on Friday. Read Also: We’ll Toll Roads To Repay Infrastructure Debts – Emefiele ...

We’ll Toll Roads To Repay Infrastructure Debts – Emefiele

16Dec

By Obiajulu Joel NwoluNo Comments

Finance, Infrastructure, News, Nigeria

We’ll Toll Roads To Repay Infrastructure Debts – Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said most of the roads constructed in the country will be tolled to repay the loans used to fund them. Emefiele said this on Wednesday while answering questions after the two-day retreat of the Bankers’ Committee in Lagos. He said, “Most of those roads will be tolled and we know that in many other countries in the world, roads are tolled because those projects are commercially viable. Read Also: Don’t Openly Endorse Any Political Office Seeker, Ex-Nigerian President, Obasanjo Tells Ooni Of Ife, Others “They can be refunded with tolls so that maintenance can be done on a regular basis, and people will pay for it and enjoy good roads, and enjoy good facilities because that is the only way we can fund the infrastruc...

FG Begins Payment Of Increased Police Salary January

16Dec

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria, Security

FG Begins Payment Of Increased Police Salary January

The Federal Executive Council has approved 20 per cent upward review of the salaries of the Nigeria Police Force personnel with effect from January 2022. The Minister of Police Affairs, Maigari Dingyadi, disclosed this to State House Correspondents at the end of the virtual Federal Executive Council meeting presided over by President Muhammadu Buhari, at the Council Chamber, Presidential Villa, Abuja, on Wednesday. The minister explained that the increased remuneration was a result of the demands of youths during the #EndSARS protests that rocked the country in October 2020. Part of the demands made by the protesters was the upward review of the salaries and increased welfare for police personnel. Dingyadi added that the approval aligned with the President’s promise to enhance ...

Naira slides ahead of Yuletide, exchange for 570/dollar

15Dec

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria, Trade

Naira slides ahead of Yuletide, exchange for 570/dollar

The naira continued its downward trend as the dollar was sold for N570 in the parallel market on Tuesday. Operators, who spoke to our correspondent, said the dollar was bought and sold for N567 and N570 respectively on Tuesday, compared to N550 and N555 three weeks earlier. Some Bureau de Change Operators attributed the further fall in the value of the naira to an increase in the demand for the greenback. Read Also: Power Generation Drops By 1,119.6MW, Sector’s Growth Falls By 45% The British pound sterling was also bought and sold for N740 and N745. The CBN had in July this year stopped foreign exchange sales to the licensed BDCs, leaving the operators to source for their forex on their own. Prior to the stoppage of the forex sales, the CBN was supplying $10,000 to e...

Senators, Reps Get N52m, N32m Yearly Office Running Allowance – Lawan

14Dec

By Obiajulu Joel NwoluNo Comments

Finance, Legislature, News, Nigeria

Senators, Reps Get N52m, N32m Yearly Office Running Allowance – Lawan

The President of the Senate, Ahmad Lawan, on Monday, revealed the salaries and emoluments of members of the National Assembly to the public in Abuja. Lawan also said the President, Major General Muhammadu Buhari (retd.), had surpassed his predecessors on assent to bills. He stated this in a paper presented at the First Distinguished Parliamentarians’ Lecture Series organised by the National Institute for Legislative and Democratic Studies. The President of the Senate said the monthly salary of a senator was N1.5m, while that of a member of the House of Representatives was N1.3m. He said the N13m thrown into the public space a few years back as the monthly salary of a senator was actually their quarterly office running allowance. Lawan said, “The total salary of a member of t...

Nigeria Drops To 14 As Egypt Tops Africa’s Investment Destinations

5Dec

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria

Nigeria Drops To 14 As Egypt Tops Africa’s Investment Destinations

Nigeria has dropped from Africa’s top 10 investment destinations to 14 as Egypt remains the number one nation. This is according to a report by RMB titled, ‘Where to Invest in Africa 2021.’ According to RMB, a division of FirstRand Bank Limited, the ranking is based on countries operating environments. RMB Africa Economist, Daniel Kavishe, said the pandemic ushered a new world and a new approach to this year’s list. Kavishe said, “We created a new set of rankings that incorporated some of the unavoidable COVID-19-induced challenges, of which the operating environment score was one.” According to him, fiscal scores are important indicators of how governments respond to COVID-19. He said, “The inclusion of a fiscal score in our rankings aimed to score governments’ fiscal po...

Subsidy: FG May Deduct N2.4tn Palliative From Federation Account, Plans Talks

26Nov

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

Subsidy: FG May Deduct N2.4tn Palliative From Federation Account, Plans Talks

The Federal Government may deduct at least N2.4tn from the Federation Account to fund the N5, 000 cash palliative that will be handed over to 40 million poor Nigerians after the fuel subsidy has been removed next year. Reports on Thursday suggest that the list of poor Nigerians on the Federal Government’s National Social Register had surpassed 42 million and may hit 43 million by December, Punch reports. This implies that the figure to be spent on the subsidy palliative may hit N2.58tn in one year. When contacted on the telephone on Thursday on how funds for the N5,000 palliative would be sourced, Yunusa Abdullahi, the Media Adviser to the Minister of Finance, Budget and National Planning, Zainab Ahmed, referred The PUNCH to a statement by his principal after the Federal Executive Co...

Court Rules On Ex-Bayelsa Governor, Dickson’s Suit With Anti-graft Agency, EFCC Over Undeclared Assets

25Nov

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

Court Rules On Ex-Bayelsa Governor, Dickson’s Suit With Anti-graft Agency, EFCC Over Undeclared Assets

A Federal High Court sitting in Yenagoa, Bayelsa State, has stopped the Economic and Financial Crimes Commission (EFCC) from further investigating the former Governor of Bayelsa State and senator representing the West Senatorial district of the State, Senator Seriake Dickson, over alleged undeclared assets between 2007 and 2020. The presiding judge, Justice Isah H. Dashien, while ruling on a suit numbered FHC/CS/81/2021, filed against the EFCC by the Registered Trustees of the Seriake Dickson Incorporated and Senator Seriake Dickson, respectively, declared that the assets were acquired with loans when the former governor was a member of House of Representatives. The court ruled that Dickson should not be investigated any further, having declared his assets before the Code of Conduct ...