Category: Finance - Page 27 - African News Today

IMF Raises Concerns Over Effects of #EndSARS Protests on Nigeria’s Growth Projection

23Oct

By Chinedu IbeakanmaNo Comments

Cost of Living, Economy, Finance, News, Nigeria, Security

IMF Raises Concerns Over Effects of #EndSARS Protests on Nigeria’s Growth Projection

International Monetary Fund (IMF) has warned that the projected economic growth for Nigeria may not be realized on the strength of the #ENDSARS protest. The organization expressed serious concern over the state of the nation as the protests continue. While answering questions during the virtual IMF press conference on the regional economic outlook for Sub-Saharan Africa on Thursday, the IMF Director, African Department, Abebe Selassie, noted the importance for government to find an immediate solution to the protests. His words: “On the growth projections in Nigeria, I mean, these protests happened of course, after we had closed, after the period where the data we looked at in making the growth projections for this economic outlook. And much will depend really on how these protests...

CBN Website Hacked? Bank Reacts to Speculated Hacking

17Oct

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

CBN Website Hacked? Bank Reacts to Speculated Hacking

Nigeria’s apex bank, Central Bank of Nigeria (CBN), has dismissed speculations of its website being hacked on Friday. The reports became rife after the website of National Broadcasting Commission (NBC) was hacked yesterday (Friday) by a group. In a statement on its official Twitter handle, CBN said that its website was safe and secure as opposed to reports of it being hacked. The bank asked Nigerians to desist from spreading false news as its website had not been tampered with and fully secured against hackers. The CBN said, “Contrary to claims on social media alleging that the website of the Central Bank of Nigeria has been breached by malicious persons, we wish to state categorically that our website is secure. “We also wish to advise the online community to desist from ...

Buhari Assures Okonjo Iweala of Support for WTO Job

12Oct

By Chinedu IbeakanmaNo Comments

Economy, Finance, Nigeria

Buhari Assures Okonjo Iweala of Support for WTO Job

President Muhammadu Buhari has restated the efforts of his administration in ensuring that former Minister of Finance, Dr Ngozi Okonjo-Iweala, emerges the Director-General of the World Trade Organisation (WTO). Buhari who gave the assurance when he received Okonjo-Iweala at the Aso Rock Villa, Abuja said she deserved all Nigeria has to offer because she had also served the country diligently. “I assure you that we will do all that we can to ensure that you emerge as the Director-General of WTO, not only because you are a Nigerian, but because you are a hardworking Nigerian. You deserve this,’’ Buhari affirmed. The President assured he will make more phone calls and send letters to some world leaders for more support. “I did the same for Dr Akinwunmi Adesina for Presid...

Varsity Workers Won’t be Cowed into Enrolling on IPPIS – ASUU Tells FG

12Oct

By Obiajulu Joel NwoluNo Comments

Education, Finance, News, Nigeria

Varsity Workers Won’t be Cowed into Enrolling on IPPIS – ASUU Tells FG

The Academic Staff Union of Universities (ASUU), accused the Federal Government of engaging in blackmail of its workers into enrolling on the Integrated Personnel and Payroll Information System (IPPIS). Dr Austen Sado, Chairman of the University of Port Harcourt Branch of ASUU, on Sunday said members of the union will not be pushed into enrolling on IPPIS despite some of its members not being paid salaries since February. Sado spoke in reaction to the order stopping the salaries of university workers who are yet to enroll on IPPIS. He said, “The directive to stop salaries clearly shows that there is something the Federal Government is not telling the people. “What they are doing now is just blackmail and threat to see how they would weaken our members to go and enroll (on IPPIS...

Atiku Abubakar Berates Buhari Over 2021 Proposed Budget

10Oct

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria

Atiku Abubakar Berates Buhari Over 2021 Proposed Budget

Former Vice president Atiku Abubakar has taken a jibe 2021 budget proposal submitted to the National Assembly by President Muhammadu Buhari on Thursday. He said the N13.08 trillion 2021 budget proposal contravened the Fiscal Responsibility Act. The flagbearer of the Peoples Democratic Party (PDP), in the 2019 presidential election faulted the budget proposal in a statement released on Friday, titled “The 2021 Budget Proposal Contravenes the Fiscal Responsibility Act”. He said the N5.21 trillion budget deficit amounted to over 3,5 per cent of Nigeria’s 2019 Gross Domestic Product, GDP. The statement part read, “I call on the President, to recall this budget, and recalibrate it to reflect the provisions of the Fiscal Responsibility Act of 2007, and the current economic realities ...

Okonjo-Iweala Makes Final Two in WTO Race

8Oct

By Chinedu IbeakanmaNo Comments

Africa, African Development, Finance, News, Nigeria, Women Empowerment

Okonjo-Iweala Makes Final Two in WTO Race

Former Minister of Finance Ngozi Okonjo-Iweala has made it to the final stage of the race to the office of the Director General of the World Trade Organisation (WTO). Mrs. Iweala made the final cut with South Korea’s Yoo Myung-hee, Bloomberg reports. Okonjo-Iweala has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunisation. Yoo is South Korea’s trade minister. During her 25-year career in government, she has helped expand her country’s trade network through bilateral accords with the U.S., China and the U.K. WTO General Council Chairman David Walker will formally announce the results to the institution’s delegates today in Geneva. United Kingdom’s Li...

Breaking: EFCC Grills Lagos Speaker Over Fraud Allegations

8Oct

By Chinedu IbeakanmaNo Comments

Corruption, Crime, Finance, Lagos News, News, Nigeria

Breaking: EFCC Grills Lagos Speaker Over Fraud Allegations

The Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is currently at the office of the Economic and Financial Crimes Commission where he is responding to questions bothering on his alleged involvement in fraud. The spokesman for the EFCC, Wilson Uwujaren, told the Punch newspaper that Obasa was invited and he honoured the invitation at the Lagos zonal office of the commission on Thursday. “He was invited, not arrested. He is responding to questions,” Uwujaren said. Obasa was recently in the news for several allegations of corruption. However, the Lagos House of Assembly constituted a panel of enquiry to investigate the corruption allegations levelled against him. While Obasa denied most of the allegations, he admitted that N80 million as estacode was app...

BREAKING: Buhari to Present 2021 Budget on Thursday

6Oct

By Chinedu IbeakanmaNo Comments

Economy, Finance, Legislature, News, Nigeria

BREAKING: Buhari to Present 2021 Budget on Thursday

President Muhammadu Buhari will present the 2021 Appropriations Bill to a Joint session of the National Assembly on Thursday. Buhari’s letter of request was read during plenary by Senate President, Ahmad Lawan, in Abuja. The letter reads: “May I crave the kind indulgence of the Distinguished Senate to grant me the slot of 11:00hrs on Thursday, 8th October, 2020, to formally present the 2021 Appropriation bill to the Joint Session of the National Assembly. “While I look forward to addressing the Joint session, please, accept Mr. Senate President, the assurances of my highest regard.”

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

30Sep

By Chinedu IbeakanmaNo Comments

Breaking News, Economy, Finance, News, Nigeria

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

The Nigerian Federal Executive Council (FEC) has projected a N13.08 trillion budget for the 2021 fiscal year. Speaking to State House Correspondents after the weekly virtual FEC meeting presided over by President Muhammadu Buhari, the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed, also said the oil benchmark has been pegged at $40 per barrel. The Minister, who was flanked by Minister of State for Budget and National Planning, Clement Agba; the Minister for Information and Culture Alhaji Lai Mohammed and the Director-General of the Budget Office, Mr Ben Akabueze, also said the projected Capital Expenditure for the year is projected at N2.083 trillion. Other components projected to tune the 2021 Budget include oil production at 1.86 million barrels ...

BREAKING: Buhari to Present 2021 Budget Next Week

29Sep

By Chinedu IbeakanmaNo Comments

Economy, Finance, News, Nigeria

BREAKING: Buhari to Present 2021 Budget Next Week

President Muhammadu Buhari will present the 2021 Appropriations Bill to a joint session of the National Assembly next week. Senate President, Ahmad Lawan, made the disclosure in his opening remarks to welcome Senators back from their eight- week annual vacation in Abuja. Details shortly...