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Exchange rate will decline in 2024 – CBN

Besides expressing optimism about the exchange rates, the CBN boss projects less revenue from oil exports in the 2024 fiscal year  The Central Bank of Nigeria (CBN) has guaranteed that the country’s skyrocketing inflation and exchange rates will significantly decrease in 2024. The apex bank also predicted lower oil revenue for the coming fiscal year, while disclosing that the sum of N18.804 billion worth of trade was recorded through the Nigerian Foreign Exchange Market (NFEM)...

AMCON: Drama in senate over N5tn debts

A budget defence session by AMCON turned dramatic as senators took turns to lambast the debt recovery agency and threatened to scrap it There was a dramatic turm of events on Wednesday when senators disagreed on the performance of the Asset Management Corporation of Nigeria (AMCON) with some of the legislators calling for its dissolution.  This was as the Managing Director of the agency, Ahmed Kuru, failed to convincingly explain inability of the agency to...

Defence budget isn’t for security agencies to work in silos – Senators

Members of the joint committee promised to increase the defence budget to ensure that the ministry and security agemcies are completely equipped to perform their functions The National Assembly joint committee on defence has told the minister of defence that budgetary allocations to security agencies should be of priority knowledge and coordination in order to avoid working in silos.  This position was spearheaded by Senator Ahmad Lawan (APC, Yobe North) during the budget defence of...

Senate says allocation to information ministry insufficient

The senate committee expressed concerns over low budgetary allocation to the ministry of information and its parastatals and promised to ‘do something about it.’  The Senate has frowned at the allocation to the ministry of information and national orientation in the N27.5 trillion 2024 budget. The Senate Committee on Information expressed this displeasure during the budget defence session with the officials of the ministry on Tuesday. In his presentation before the committee, the Minister of...

Tunji-Ojo calls for more funds to secure Nigeria’s borders

  The interior minister says the poor release of funds constrained the efforts of hardworking personnel of the immigration service to secure the country’s borders The Minister of interior, Olubunmi Tunji-Ojo, has called for an urgent need to secure Nigeria’s borders in order to reduce the risks of insecurity in the country. This is as he stressed that further delays in securing the border will amount to continuous threat to the country’s internal security. He...

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