DMO’s Strategies to Reduce Interest Expense Working—FSDH

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Dipo Olowookere The House of Representatives Committee on Customs and Excise chaired by Mr Leke Abejide, has promised to ensure that all customs duties and levies collected by the Nigeria Customs Service (NCS) are accounted for and remitted to the nation’s purse. He gave this assurance during the inaugural meeting of the panel on Wednesday in Abuja, using the occasion to roll out the seven-point agenda of his group. The lawmaker, who contested in the recently-concluded governorship election in Kogi State under the African Democratic Party (ADC), listed the key focus of the team as oversight of the Nigeria

By Adedapo Adesanya  The Nigerian Naira weakened by 17.9 per cent or N144.49 against the American Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, December 6 as confidence waned in the Central Bank of Nigeria’s (CBN) ability to boost the market with enough foreign exchange (FX). Yesterday, the exchange rate of the Naira to the Dollar closed at N951.22/$1 in the official market compared with the preceding session’s rate of N806.73/$1. This happened as the forex turnover slightly went down by 4.9 per cent or $7.05 million to $135.58 million from the $142.63 million reported in the

By Adedapo Adesanya African grant writing platform, GrantMaster, has emerged as the Fundraising Champion of the Year at the 2023 Origo International Excellence Award presented at the ceremony held at the NECA House Event Centre, Ikeja, Lagos on June 25, 2023. The award, a distinguished initiative of Origo International, a Canadian-based organization, aims to laud individuals and corporations for their industry excellence, diverse experiences, and inspiring roles. It encapsulates the ethos of Origo International’s mission – fostering growth and excellence through a combination of training, mentorship, networking, and awards. This latest accolade shines a spotlight on GrantMaster’s inspirational and innovative

By Dipo Olowookere Resident and Humanitarian Coordinator of the United Nations in Nigeria, Mr Edward Kallon, has reaffirmed his commitment and that of the United Nations system in the country towards supporting the country’s efforts aimed at addressing current challenges such as the current economic recession and responding to the ongoing humanitarian crisis in the North-East. Mr Kallon made this disclosure during his one-week mission to Lagos State from April 10-14, 2017, where he engaged Lagos State government, the private sector, the media and a few Federal Government parastatals. He further committed to supporting the government in implementing the recently

By Dipo Olowookere Residents of Lagos can now enjoy free internet browsing courtesy top Nigerian music producer and Mavin Records owner, Don Jazzy, and a technology company called Tsaboin. On Friday, Don Jazzy launched his free wifi in Lagos called Flobyt. However, the service is to be enjoyed at the moment at selected areas in part of Lagos, the commercial capital of Nigeria. Speaking on why he decided to give free the wifi in Lagos, Don Jazzy said, “I believe so much in this. This is one of the few other investments we are going to be sharing with you.

By Modupe Gbadeyanka/FSDH Research The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has entered its day two, which is the last day and after the meeting, the CBN Governor, Mr Godwin Emefiele, is expected to address the media on outcome of their deliberations. But ahead of that, FSDH Research has disclosed that it expects the committee to hold the rates at the current levels of 14 percent. In the past, there have been calls for reduction in the rates, including from the Minister of Finance, Mrs Kemi Adeosun and the Manufacturers Association of Nigeria (NAN), but

By Adedapo Adesanya The federal government has disclosed that the country will soon receive £4.2 million seized from the associates of convicted former Governor of Delta State, James Ibori, by the United Kingdom. This was disclosed by the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, on Monday, in a statement issued by the Special Assistant on Media and Public Relations in the Office of the AGF, Mr Umar Gwandu. Mr Malami noted that any moment from now, Nigeria will get the fund, adding that the government was working tirelessly to ensure the return of looted

By Jerome-Mario Chijioke Utomi The recent decision by the Governor of Delta State, Ifeanyi Okowa, to provide financial aid to 40 schools it returned to religious missions in 2011 again underscores the time-honoured belief that leaders must learn the art of management, an art of engineering and skill to absorb and mater success in their mission. As there is no hard and fast rule but involves a lot of practical wisdom and prudence in one’s functioning style and performance. Speaking at the thanksgiving service to mark the end of the 16th Synod of Asaba Diocese, Church of Nigeria (Anglican Communion),

By Modupe Gbadeyanka The Lagos State government has said it has no plan to shut down schools in the state over non-compliance with the January 4 resumption directive. It was reported last week that the state government was furious with some schools for disobeying the resumption order, with sanctions threatened. The issue generated reactions and the Director-General of the Office of Education Quality Assurance (OEQA), Mrs Abiola Seriki-Ayeni, in a statement on Sunday dismissed the reports, saying such action would be counterproductive. However, she stressed that most schools complied with the directive as 640 out of the 720 schools visited

By Sodeinde Temidayo David The Lagos State Government, in its pursuit of food security and self-sufficiency, is pushing for technologies that will enable farmers to farm all year round to reduce its large dependency gap. This was revealed by the state Commissioner for Agriculture, Ms Abisola Olusanya, at a gathering to herald the activities lined up for the celebration of this year’s World Food Day. According to her, the state would attain the desired sustainable agro-food systems if there is an all-year farming season. Ms Olusanya also noted that the COVID-19 pandemic has underlined the need for an urgent change