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The Senate has demanded a refund of funds totalling N665.8bn which were allegedly diverted by the Office of Accountant General of the Federation from the Solid Mineral Development Fund and Stabilisation Fund to ministries, departments and agencies of the Federal Government. The beneficiaries, according to the Office of the Auditor General of the Federation, included Independent National Electoral Commission, Ministry of Power, Nigerian Army, as well as former President Goodluck […]

The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators.   Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that the naira was bought and sold for 502 and 503.5.   The naira had earlier traded at 504/$ early in July.   At the Investors & Exporter forex window, […]

Ahead of the two-day Monetary Policy Committee meeting starting on Monday, a financial expert has said the Central Bank of Nigeria is expected to retain the Monetary Policy Rate. The CBN had at its meeting in May retained the MPR at 11.5 per cent, the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively. Speaking with reporters a former President, Association of National Accountants […]

Stock trading on the floor of the Nigerian Exchange Limited rallied with a total gain of N375.50bn last week despite the lower trade volume occasioned by the public holidays on Tuesday and Wednesday. The NGX All-Share Index closed 1.90 per cent higher to 38,667.90 basis points on Friday from 37,947.18bps the previous week, while the market capitalization rose to N20.15tn from N19.77tn. Investors’ trading volumes dropped by 11.27 per cent […]

The Federal Government has extended the deadline for NIN-SIM data verification to October 31. This was contained in a joint statement signed by the Director of Public Affairs of the Nigerian Communications Commission, Dr Ikechukwu Adinde, and the Head, Corporate Communications at Nigeria Identity Management Commission, Mr Kayode Adegoke issued on Saturday. According to the statement, the extension was due to a request by stakeholders to ensure that the registration […]

Nollywood actress, Iyabo Ojo has appreciated critics for making her more famous. In an Instagram post, the movie star was full of thanks for those who continuously defame her at every point. According to Iyabo Ojo, their constant hate has brought her fame. The mother of two further stated she would be showing proper appreciation to them by organising a giveaway even though she has blocked most of them on […]