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Farooq

Archive by Category "News" (Page 249)

HomeArchive by Category "News" (Page 249)

SERVING and former public office holders  in the country will now be required to  account for their wealth, Vice President Yemi Osinbajo declared yesterday in Lagos in what appears to be a fresh strategy to fight corruption. The era is gone when people would become millionaires and billionaires overnight without anyone asking questions, Osinbajo said […]

By Emele Onu Muhammadu Buhari has yet to sign 2016 budget into law. Lawmakers passed a version of the spending plan last month. Nigerian President Muhammadu Buhari will meet leaders of Parliament on Friday to negotiate a delayed 2016 budget after he said lawmakers had made changes to the original spending plan he presented in […]

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Brent oil is trading up Friday morning at $45.03 per barrel, setting crude futures on course for solid weekly gains. A Goldman Sachs Research note in their Commodity Watch published overnight said market sentiment is turning more upbeat. “However, we still have high oil inventories globally, and with a strong peg for Brent price to […]

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President Muhammadu Buhari yesterday rejected the budget passed by the National Assembly last month, faulting the inclusion of N40 billion projects in the works ministry, 386 projects in agriculture and removal of the Lagos-Calabar rail project, among others by the lawmakers. Buhari had presented a N6.08 trillion budget for the 2016 fiscal year in December […]

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Ahead of the doomed Doha talks last weekend, Russia and Saudi Arabia said they were willing to discuss freezing oil output, but less than a week later both have threatened to ramp up production. On Friday, the head of the Oil Industry and Markets Division at the International Energy Agency (IEA) told CNBC that he […]

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NAIRA (N) USD ($) EURO (€) GBP (£) BUY/SELL BUY/SELL BUY/SELL 22/4/2016 318/321 359/363 449/453 21/4/2016 319/322 360/365 445/450 20/4/2016 319/322 355/360 445/450 19/4/2016 319/322 355/360 445/450 18/4/2016 317/320 360/365 445/450  

Oil prices rose in Asian trade on Friday, setting crude futures on course for solid weekly gains, as market sentiment becomes more upbeat despite ongoing oversupply. International benchmark Brent crude futures LCOc1 were trading at $44.98 per barrel at 0418 GMT, up 45 cents or 1 percent from their last settlement. U.S. West Texas Intermediate […]

Nigeria’s energy companies that bought oilfields from majors when oil was selling for more than $100 a barrel have been hammered by the crash in prices. Now their troubles are taking a toll on the banking sector in Africa’s largest economy. In the two years before crude oil prices began falling in mid-2014, Nigerian banks […]

Abuja, April 21, 2016 (FxMallam) – The Federal Government of Nigeria saw its revenues fall in March to N299 Billion from N345 billion in February due in large part to low oil prices. The Minister of Finance, Kemi Adeosun told reporters that, “The federation accounts receipts are among the lowest in recent memories. We are […]

The Accountant-Generalof the Federation (AGF), Mr Ahmed Idris has reveal that the Federal Government of Nigeria and collated over N2.7 Trillion in its Treasury Single Account (TSA). This comes after President Muhammadu Buhari in a bid to increase accountability and reduce corruption, ordered the merger of all state accounts into one account at the Central […]