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$35b loan‎: Former Ambassador, Yemi Farounbi cautions FG

Daily Dispatch February 17, 2017

A former Nigerian Ambassador to Philippine, Dr. Yemi Farounbi has warned the Federal Government against further borrowing. He described government’s plan to borrow $35b to finance some capital projects as unnecessary. He said before such thing must be done, all efforts must be put on the desk

BUSINESS

Nigeria’s debt profile is N17.36tln – DMO

Daily Dispatch February 17, 2017

The Director-General of the Debt Management Office (DMO), Dr Abraham Nwankwo said that the nation’s total debt profile as at December 31, 2016 was 57.39 billion dollars (N17.36 trillion). He made this known when defending the agency’s 2017 budget before the Senate Committee on Local and Foreign Debts in Abuja on Thursday. Nwankwo said the […]

NEWS

2018 census: Fed Govt releases N775m

Daily Dispatch February 17, 2017

THE Federal Government has announced the release of over N775 million for the conduct of Enumeration Area Demarcation (EAD) exercise, ahead of next year’s National Population Commission (NPC) census. EAD is a process of deploying high calibre technology to divide the land mass of a country into small units that can be easily covered by […]

BUSINESS

Forex Utilization: CBN boosts manufacturing, agriculture, others with $2.83b

Daily Dispatch February 17, 2017

The Central Bank of Nigeria says it disbursed $2.83 billion to critical sectors of the economy between December 2016 and January 2017. Isaac Okorafor, the Acting Director, Corporate Communications Department of CBN, made this known in a statement on Thursday in Abuja. Okorafor said manufacturing, raw materials and agriculture topped the disbursements targeted at the […]

TOP STORIES

J‎udge Orders Final Forfeiture Of Alison-Madueke’s $153m To Federal Government

Daily Dispatch February 16, 2017

A Federal High Court sitting in Lagos on Thursday ordered the permanent forfeiture the sum of $153m, which was said to have been diverted from the coffers of the Nigerian National‎ Petroleum Corporation, NNPC, by a former Minister of Petroleum Resources, Dieziani Alison-Madueke, to the Federal Government. The presiding judge, Justice Muslim Hassan, who had […]

NEWS

FG Denies Withholding Statutory Allocation To Ekiti

Daily Dispatch February 16, 2017

The federal government has explained why it has not released the Budget Support Facility (BSF) to the Ekiti state government. A statement from the federal ministry of finance on Wednesday signed by Salisu Na’Inna Dambatta, Director (Information) described the Ekiti governor’s claims as “incorrect as the Ministry has not withheld any statutory allocation due to […]