The government of the United States has repatriated $52.88 million connected to former Petroleum Resources Minister, Diezani Alison-Madueke. The funds stemmed from the forfeiture of Galactica assets tied to Alison-Madueke and her associates. On Friday, US Ambassador to Nigeria, Richard Mills Jr., signed an Asset Return Agreement at the Federal Ministry of Justice in Abuja….
The Economic and Financial Crimes Commission (EFCC) disclosed that 27 officers were dismissed last year for misconduct. This action was based on recommendations from the EFCC Staff Disciplinary Committee and approved by the Executive Chairman, Ola Olukoyede. The dismissal demonstrates the EFCC’s commitment to enforcing integrity within its ranks. The EFCC spokesman, Dele Oyewale, announced…
President Tinubu has approved retirement perks for top military officials, sparking national debates and criticism. These benefits include $20,000 annual medical allowances, bulletproof SUVs, personal staff, and luxury accommodations. According to the Harmonised Terms and Conditions of Service (HTCOS) for military personnel, signed on December 14, 2024, by President Bola Tinubu, the Chief of Defence…
The Central Bank of Nigeria (CBN) clarified that the 1,000 staff members who exited in December 2024 did so voluntarily. According to CBN Governor Olayemi Cardoso, the departures occurred under the Early Exit Program, which offered full benefits to participants. Central Bank of Nigeria Implements Voluntary Early Exit Program Cardoso emphasized that the Early Exit…
Gov. Abiodun of Ogun State promised that his administration will continue fostering an economy that promotes growth, equity, and resilience. This will be achieved through sustainable development plans aimed at improving all sectors. The governor urged Ogun residents to put aside differences and continue working together for peace and development, benefiting both the state and…
The Debt Management Office (DMO) has affirmed that the Federal Government (FG) has made sufficient budgetary provisions for Nigeria’s debt obligations. This assurance covers both foreign and local debts, reflecting a commitment to financial stability and fiscal responsibility. DMO Highlights Debt Servicing Consistency The debt management office emphasized that Nigeria’s debt management aligns with relevant…
President Bola Tinubu has announced his administration’s commitment to tackling inflation and improving economic conditions. A key strategy includes establishing a National Credit Guarantee Company by the second quarter (Q2) of 2025. Inflation Reduction Strategy The president highlighted the urgent need to reduce inflation, currently at 34.6%, to a more sustainable 15% by 2025. He…
As Nigeria anticipates the New Year, prominent voices across various sectors are calling for urgent 2025 economic reforms. Key figures from manufacturing, academia, security, local government unions, and the Ijaw National Congress have come together to urge President Bola Tinubu to prioritize economic recovery. These sectors, affected by the challenges of 2024, are hopeful for…
Oyo State Governor Seyi Makinde has approved an 86% salary hike, raising the monthly wage bill to ₦11.9 billion. This increase, effective January 2025, showcases the state’s commitment to workers’ welfare and economic progress. A New Minimum Wage for Workers The Commissioner for Information and Orientation, Prince Dotun Oyelade, announced the adoption of a new…
