Tag: Finance - Page 11 - African News Today

Auditor General Queries Ministry’s N3.8bn Spending From Suspended RUGA Fund

29Dec

By Obiajulu Joel NwoluNo Comments

Finance, Legislature, News, Nigeria

Auditor General Queries Ministry’s N3.8bn Spending From Suspended RUGA Fund

The Office of the Auditor-General of the Federation has queried the Federal Ministry of Agriculture for spending a total sum of N3.809bn on the suspended Rural Grazing Area scheme without a presidential approval or National Assembly appropriation. The query is part of the eight audit queries issued against the ministry in the ‘Auditor-General for the Federation’s Annual Report on Non-Compliance/Internal Control Weaknesses Issues in Ministries, Departments and Agencies of the Federal Government of Nigeria for the Year Ended 31st December, 2019.’ The OAuGF had queried expenditures totaling N60,795,898,225.84 by the ministry. The Acting Auditor-General of the Federation, Adolphus Aghughu, presented the report to the Clerk to the National Assembly, Ojo Amos, on September 15, 2021, whi...

BREAKING: National Assembly Transmits 2022 Budget To Buhari For Assent

28Dec

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

BREAKING: National Assembly Transmits 2022 Budget To Buhari For Assent

The National Assembly has transmitted the 2022 Appropriation Bill to President Muhammadu Buhari, for assent. The House of Representatives and the Senate passed the Federal Government’s budget on Tuesday and Wednesday last week, respectively, raising the total estimates from the proposed N16.391tn to N17.126tn. The oil benchmark was raised from the proposed $57 per barrel to $62. President of the Senate, Ahmad Lawan, had said the budget would be transmitted to Buhari by Thursday. Read Also: Electoral Act Amendment Bill: Senate Backs Down On Overriding Buhari, Refers Bill To Constituents A communication from the Clerk to the National Assembly, Ojo Amos, to the Presidency, a copy of which our correspondent sighted on Tuesday, showed that the budget was transmitted on Friday and...

Money Jonathan Left Behind Couldn’t Sustain Nigeria Three Weeks -Amaechi

26Dec

By Obiajulu Joel NwoluNo Comments

Finance, News, Nigeria

Money Jonathan Left Behind Couldn’t Sustain Nigeria Three Weeks -Amaechi

The Minister of Transportation, Rotimi Amaechi, says the money left behind for Nigeria by former President Goodluck Jonathan at the point of his departure on May 29, 2015 was not enough to run the affairs of the country for three weeks. Amaechi, who is a former Chairman of the Nigerian Governors’ Forum, said this on a Channels Television’s programme titled, ‘Hard Copy’. The former governor of Rivers State claimed that while he headed the governors’ forum, he was informed by Presidency officials that there was virtually nothing left in the treasury. Read Also: House Of Representatives’ PDP Caucus Calls For Buhari’s Resignation The minister added, “When you talk about bandits and all these people that kill. It is a question about poverty. And that poverty didn’t start in this reg...

FG Increases Hazard Allowance From N5,000 To N40,000 For Doctors, N34,000 For Others

25Dec

By Obiajulu Joel NwoluNo Comments

Finance, Labour, News, Nigeria

FG Increases Hazard Allowance From N5,000 To N40,000 For Doctors, N34,000 For Others

The Federal Government has increased the hazard allowance for medical doctors and health workers in the country. It was gathered that while the government increased the allowance for doctors from N5,000 to between N32,000 and N40,000; other health workers like nurses, laboratory workers among others had theirs reviewed to between N15,000 and N34,000. This was contained in a circular with reference number SWC/S/04/S.218/11/406 dated December 22, 2021 and signed by the Executive Chairman of the National Salaries, Wages and Income Commission. Read Also: Bauchi Records 153 Lassa Fever Cases In One Year The circular read in part, “Concerning the review of the hazard allowance applicable to health workers in the services of the federal hospitals, medical centres and clinics in minist...

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...