Wednesday, March 20, 2019

Reps Okay States Foreign Borrowings

File photoLegislators at the Lower House of the National Assembly have approved the planned foreign borrowing of 492.4 million dollars for Ogun, Katsina, Jigawa and Plateau states.
The approval by the House comes after the consideration of a report of its committee on “aids, loans and debt management”, which was prepared on request under the medium term external borrowing rolling plans of the Federal Government for 2016 to 2018.
The breakdown of the foreign loans shows a 32.4 million dollars facility for Jigawa state from the Islamic Development Bank for integrated rural development.
Katsina state also plans to source 110 million dollars from the Islamic Bank for healthcare, while Plateau state wants 50 million dollars from the French Development Bank for its third national urban water project.
Ogun State on the other hand is sourcing 350 million dollars for its water development from the World Bank.
The post Reps Okay States Foreign Borrowings appeared first on Channels Television.

Kwara Governor Presents N181bn 2018 Budget

Kwara State Governor, Abdulfatah Ahmed, has presented a budget estimate of N181,886,056,555.00 for the 2018 financial year.
Presenting the proposal to lawmakers at the Kwara State House of Assembly on Thursday, Governor Ahmed said the proposed budget reflects an increase of N15,781,009,150 or 9.5% compared to the 2017 Revised Appropriation.
Tagged “Budget of Sustained Growth and Prosperity”, the sum of N75,204,257,902 which represents 41.3% is for recurrent expenditure, while the sum of N106,681,798,630 which represents 58.7% is earmarked for capital expenditure.
“Under the recurrent expenditure, N46,567,379,761 representing 62% is allocated as overhead cost which includes subventions to parastatals, support grants and contributions including overhead cost of tertiary institutions in the state. Personnel cost is expected to gulp N13,918,001,894 or 18.5% of the total recurrent expenditure,” he said.

Amosun Present N345.42bn Appropriation Bill For 2018

File PhotoOgun State Governor Ibikunle Amosun has presented the 2018 appropriation bill of a total of N345.42 billion to the State House of Assembly in Oke-Mosan, Abeokuta the state capital.
In the proposed budget tagged the ‘Budget of Accelerated Development,’ a total of N223.72billion was earmarked for capital expenditure, which represented 64.77 percent of the estimates, while N121.69 billion would be for recurrent expenditure, representing 35.23 percent.
READ ALSO: Amosun Urges Ogun Athletes To Make State Proud At National Youth Games
At the budget presentation to the house on Tuesday, November 21, the governor promised to expedite actions on his five cardinal programmes with more focus on agriculture that will lead to industrialisation.

Morocco Regulator Bans Bitcoin Payments

Morocco’s currency regulator has announced a ban on transactions in bitcoin and other virtual currencies, in a country where foreign exchange flows are tightly controlled.
“Transactions via virtual currencies constitute a breach of regulations, punishable by penalties and fines,” the Offices des Changes said in a statement on its website.
The announcement came a week after Moroccan digital services company MTDS said it would accept payment in bitcoin.
MTDS said it was the first time the regulator had taken a clear position on bitcoin payments.
MTDS head Karl Stanzik said the company had dropped its proposal in order to “comply with Moroccan law” but that it would be “very difficult to control” bitcoin transactions due to the currency’s secretive nature.

Nigeria’s Economy Grows By 1.4% In Third Quarter

Nigeria’s economy continued its recovery from recession, rising 1.4 percent in the third quarter of this year on increased oil production, official data showed Monday.
The National Bureau of Statistics (NBS) said it was the second quarter of consecutive growth since the country emerged from recession.
“This growth is 3.74 percentage points higher than the rate recorded in the corresponding quarter of 2016 (-2.34 percent) and higher by 0.68 percentage points from the rate recorded in the preceding quarter (of 2017),” it said.
The agency said daily oil production rose in the third quarter, averaging 2.03 million barrels per day (bpd), compared to 1.87 million bpd in the preceding quarter.
“Real growth of the oil sector was 25.89 percent (year-on-year) in Q3 2017. This represents an increase of 48.

Efforts Ongoing To Provide Uninterrupted Power Supply – Ambode

File photoGovernor Akinwumi Ambode of Lagos state has said plans are ongoing to provide constant power supply to all homes and businesses in the state by the end of 2018.

Court Reverses Decision To Freeze Accounts Without BVN

A Federal High Court judge in Abuja who granted an order for bank accounts not linked to Bank Verification Numbers (BVNs) to be frozen has reversed his decision.
Justice Nnamdi Dimgba explained that he later learned that his October 17 order created an “awkward and unfortunate result.”
The reversal means that those who have not linked their bank accounts will now be able to do so at their convenient time.

Global Entrepreneurship Week: Panelists Say Youths Must Be Innovative

File photoPanelists at the grand finale of the Global Entrepreneurship week, have advised youths to be creative, innovative, and purpose-driven in order to be self-reliant.
This formed the core of the event which took place in Osogbo, the Osun state capital.
According to the panelists, there is a need for youths to be goal oriented, sharpen their skills and be empowered to harness ready potentials in Osun state to turn it into wealth.

Court Reverses Decision On BVN

A Federal High Court judge in Abuja who granted an order for bank accounts not linked to Bank Verification Numbers (BVNs) to be frozen has reversed his decision.
Justice Nnamdi Dimgba explained that he later learned that his October 17 order created an “awkward and unfortunate result.”
The reversal means that those who have not linked their bank accounts will now be able to do so at their convenient time.

Nigeria’s Inflation Rate Falls For Ninth Consecutive Time

For the ninth consecutive time, Nigeria’s inflation rate measured by Consumer Price Index (CPI) has eased further.
The National Bureau of Statistics (NBS) in its “CPI October 2017 Report’’ released on Wednesday, November 15 in Abuja says Nigeria’s inflation rate has further dropped to 15.91 percent in October from 15.98 recorded in September.
The data also shows food inflation rose by 20.31 percent, just a soft touch below the 20.

Chinese Govt Donates Over N2bn To Rebuild North East

An affected building hit by insurgency in the North East, NigeriaThe Chinese Government has promised to commit 50million Chinese Rin an equivalent of N2.5 bn as its contribution to the development of the North East.
The Chinese Ambassador to Nigeria Dr. Zhou Pingjian revealed this in Damaturu the Yobe state capital when presented relief materials to the Internally Displaced Persons (IDPs) in the state.

Chinese Government Donates Over N2bn To Rebuild North East

An affected building hit by insurgency in the North East, NigeriaThe Chinese Government has promised to commit 50million Chinese Rin an equivalent of N2.5 bn as its contribution to the development of the North East.
The Chinese Ambassador to Nigeria Dr. Zhou Pingjian revealed this in Damaturu the Yobe state capital when presented relief materials to the Internally Displaced Persons (IDPs) in the state.

Police Seize 28 Million Euros Fake Banknotes In Italy

Italian police announced Monday the arrest of 13 suspected counterfeiters and the seizure of more than 900,000 high-quality fake banknotes with a value of more than 28 million euros.
“During the investigation three underground printworks, including one in Romania, were discovered equipped with the machines and instruments needed to manufacture counterfeit notes,” police said in a statement.

Nigerian soldier kills captain; takes own life

All officers around the brigade have been warned to be on the alert.
The post Nigerian soldier kills captain; takes own life appeared first on Premium Times Nigeria.

Abuja Airport Gets NCAA Certification‎

The‎ Nigerian Civil Aviation Authority (NCAA) has given the certificate of aerodrome certification to Nnamdi Azikwe International Airport, Abuja.
NCAA on Friday, November 10 presented the certificate to the Federal Airports Authority of Nigeria (FAAN).