The Senate, on Wednesday, screened the acting Chief of Army Staff (COAS), Lt.-Gen. Olufemi Oluyede, behind closed doors. Chairman of the Senate Committee on Army, Sen. Abdulaziz Yar’adua, before the screening, recalled that the senate, had, at its sitting on Tuesday, read President Bola Tinubu’s request urging them to confirm Oluyede’s appointment as chief of army staff. Yar’adua commiserated with Oluyede over the death of the late Chief of Army Staff, Taoreed Lagbaja. He said that Lagbaja made significant strides in improving the welfare of the army and brought innovations, such as the Nigerian Army Aviation. “It is a known…
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President Bola Tinubu, accompanied by First Lady Senator Oluremi Tinubu, arrived in Paris on Wednesday evening for a three-day State Visit to fortify Nigeria-France relations. Touching down at Orly Airport around 5:10 p.m., President Tinubu was welcomed with full military honours by the French Republican Guard, marking a ceremonial start to his visit. The official engagements will begin on Thursday at the historic Les Invalides, where French President Emmanuel Macron and First Lady Brigitte Macron will warmly receive President Tinubu. According to Presidential Adviser on Information and Strategy, Bayo Onanuga, the visit will continue with a distinguished reception at the…
President Bola Tinubu has extended his best wishes to former Vice President Atiku Abubakar on the occasion of his 78th birthday. The president congratulates Atiku in a statement issued by Presidential Adviser on Media and Communication, Sunday Dare. The former Vice President and PDP presidential candidate in the 2023 presidential election has been an active player in Nigeria’s democratic process since the return to civilian rule in 1999. The President recalls many special moments shared with Wazirin Adamawa as founding members of the All Progressives Congress (APC), united in the mission to build a better future for Nigerians, as well…
By Tony Obiechina Abuja The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has commended the pivotal role of Nigeria’s civil service in implementing President Bola Ahmed Tinubu’s bold macro-economic reforms. Speaking at the launch of the Federal Civil Service Policies and Guidelines and the celebration of Mrs. Didi Esther Walson-Jack’s 100 days in office as Head of the Civil Service of the Federation, the Minister noted that the country’s civil service is the backbone of national development and progress. Addressing an audience at the Federal Ministry of Finance auditorium, Abuja, the Minister outlined the administration’s reform agenda,…
By Tony Obiechina Abuja The Central Bank of Nigeria (CBN) has further raised the Monetary Policy Rate (MPR) to 27.50 per cent, a decision influenced by the rising inflation in the country. Prompt News reports that the apex bank took the decision at the 295th Meeting of the Monetary Policy Committee (MPC) held in Abuja on Tuesday. At the September MPC meeting, the committee unanimously voted to raise the benchmark interest rate to 27.25 per cent considering surging inflation. The new rate indicates that the MPR was raised by a 25 basic point Speaking at the end of the meeting…
***Gives directive on Warri, Kaduna refineries President Bola Tinubu has congratulated the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalization of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on November 26, 2024. Presidential Adviser on Information and Strategy, Bayo Onanuga, said the President acknowledges the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all the refineries. He also expresses gratitude to the African Export-Import Bank for its confidence in financing the critical project. Furthermore, President Tinubu commends the leadership of NNPC Limited’s Group Chief Executive Officer, Mr.…
The Police on Tuesday arraigned a 38-year-old man, Babafemi Ogundele, before an Iyaganku Chief Magistrates’ Court, Ibadan, over an alleged N15 million fraud. The defendant, whose house address was not disclosed, is being tried on charges bordering on obtaining by false pretence, stealing, threat to life and impersonation. Earlier, the Prosecutor, Mr Akeem Akinloye, told the court that the defendant had, sometime in June, defrauded the complainant, one Jacob Joshua, of $10,000 (about N15 million). Akinloye said that the complainant had paid the defendant the amount to facilitate his (complainant’s) proof of funds to enable him travel to United States of America. He…
“I hear that the National Assembly has approved the external borrowing of a $2.2 billion for the Tinubu administration to address the fiscal deficit in the 2024 Budget.” “Bros, I tire. I just tire. What on earth do they do with all these borrowings?” “There is actually a deficit of $9.17 billion deficit in the 2024 budget, when you add Eurobonds, interest on Ways and Means, foreign debt and domestic debt, and I hear that Nigeria can borrow more in line with Section 21(1) and Section 27(1) of the Debt Management Office (DMO) Establishment Act of 2003.” “The DMO will…
Remittances represent a major source of financial inflow for African countries. The United Nations identifies remittances as a vital lifeline for more than 200 million Africans. It notes that beyond supporting the lives and livelihoods of families in the senders’ countries of origin, remittances or cash transfers represent solidarity and symbolise the generosity and resilience of the African community on the continent and beyond. In 2023, remittances in Africa reached almost $100 billion, equalling nearly 6 per cent of the continent’s Gross Domestic Product (GDP) and exceeding Foreign Direct Investment (FDI) figure of $48 billion. Within Sub-Saharan Africa, key markets…
Governor Babajide Sanwo-Olu of Lagos State has suspended his Senior Special Assistant on Print Media, Wale Ajetunmobi. Mr. Gboyega Akosile, Special Adviser on Media and Publicity to the Governor, announced the suspension in a terse statement on Tuesday. The suspension of Ajetunmobi, is as a result of his post on his X account, revealing those who burnt Television Continental (TVC) in 2020 during the #EndSARS protest had been “hunted down and executed”. Prompt News reports that Akosile, posited that the comment was a misrepresentation of what happened then as the state government does not in any way support extra-judicial killing.…