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Day: January 8, 2020

2023 succession talks now unnecessary, says Tinubu

All Progressives Congress (APC) national stalwart Asiwaju Bola Ahmed Tinubu, has described as premature, talks about 2023 elections and the successor to President Muhammadu Buhari. To him, those making such calls do not love Nigeria. He also defended the President in respect of the claim that he is hatching a tenure elongation plot. Tinubu spoke […]

PTAD pays N842m to NITEL, MTEL pensioners

The Pension Transitional Arrangement Directorate (PTAD) has paid one-month pension arrears of N842.8 million to pensioners of the defunct NITEL/Mtel in December, 2019. The Executive Secretary, Dr. Chioma Ejikeme, in a statement said the money was paid to 11,331 pensioners She said the payment was part of the Federal Government’s commitment to reduce inherited pension […]

PenCom may raise bonds to offset accrued rights backlog

The National Pension Commission through the Federal Government is trying to raise pension bonds through the Debt Management Office. The bonds is to be used to offset the pension arrears of federal retirees, as a result of accumulated accrued rights. A source in PenCom said: “The commission had been in talks with the DMO on […]

Fed Govt to compensate terminal operators over port rails

The Federal Government is set to compensate terminal operators whose facilities would be affected in the ongoing efforts to return rail tracks to Lagos seaports, it was gathered on Tuesday. The initiative, it was learnt, is to boost quick evacuation of cargoes from the port, enthrone efficiency and boost government revenue. The Managing Director, Nigerian […]

Lagos targets N73.836 billion monthly IGR

The Lagos State government is targeting N73.836 billion monthly Internally Generated Revenue (IGR) as part of funding for the 2020 Appropriation of its N1.168 trillion, tagged ‘Budget of Awakening.’ The Commissioner for Economic Planning and Budget, Samuel Egube, who stated this at a briefing yesterday, said the state is projecting N886 billion from IGR, comprising  […]

Foreign reserves drop to two-year low at $39.84b

The foreign exchange reserves have hit two-year low at $39.84 billion, an Economic Report by Financial Derivatives Company Limited, has shown. The report also said that quarterly oil revenue could hit $15 billion at the new oil price of $68 to $69 per barrel as the market awaits Iran response to the killing of its […]