Tuesday 17 September, 2019
Edition: English (US)
Monthly Archives: March 2017

The suspended former Chairman of the House of Representatives Committee on Appropriation, Abdulmumin Jibrin who is also a member of the ruling party, All Progressives Congress (APC), has asked President Mohammadu Buhari, to resign on basis of...

By Optimum Times on Mar 31st, 2017

Minister of Finance, Kemi Adeosun, on Friday, explained that cash disbursements of N611, 821, 910 million for YouWin 3 entrepreneurs was suspended following the discovery of fraudulent entry into the programme by some awardees. She recalled...

By Optimum Times on Mar 31st, 2017

***As Okpanachi leads management team ***Also extends 2016 capital budget tenure till May 5 The Federal Government on Thursday, named a seasoned banker, Mr. Tony Okpanachi, as CEO/Managing Director of the newly licensed Development Bank of Nigeria (DBN). Also, it gave details of members of the board and management of the DBN. Mr. Tony Okpanachi, who...

The Central Bank of Nigeria (CBN) has increased sales of foreign exchange (FOREX) to Bureau De Charges (BDCs) in continuation of its efforts to boost liquidity in the FOREX market. It increased FOREX sales to twice weekly just as it increased sake amount to BDCs to $10,000 at $5,000 per bid while hoping to announce a new rate. A statement by the CBN...

Federal Government has announced that Nigeria has priced its offering of US$500 million aggregate principal amount of notes (the “Notes”) at a yield of 7.5% under its US$1.5 billion (increased from US$1 billion) Global Medium Term Note Programme, which will be consolidated and form a single series with the Republic’s existing US$1,000,000,000...

—Targets generation of over 4,000MW of electricity The Nigerian National Petroleum Corporation (NNPC) is set to transform into an integrated energy outfit with divers interest in power generation and transmission. Already, the Corporation is working on a project to generate four thousand Megawatts (4, 000MW) of electricity while also exploring...

—To have access to additional N369 billion for on lending to all sectors Finally, the Federal has given impetus to the development of the country with approval of operational licence for the Development Bank of Nigeria (DBN), with initial capital base of N100 billion. Apart from the capital base, DBN is to have access to additional funds amounting...

—-As Senate Clears Saraki, Melaye The Senate has suspended Senator Ali Ndume for six months for making unverified and hurtful allegations against his colleagues: the Senate President, Bukola Saraki and Senator Dino Melaye last week during plenary. His suspension follows the adoption of Senator Samuel Anyanwu-led committee on Public Petitions,...

—–As Senate postpones confirmation of Buhari’s REC list The contest for supremacy between the legislature and executive arms of government came to the on Tuesday, as the Senate resolved to stand down the consideration and confirmation...

By Optimum Times on Mar 29th, 2017

As part of sustained efforts to shore up the value of the Naira and its exchange rate against other foreign currencies, the Central Bank of Nigeria (CBN) has further directed all Bureau De Change (BDCs) not to sell dollar at more than N362 to...

By Optimum Times on Mar 28th, 2017