FG’s recourse to ‘borrowing from CBN, weakness in finance mgt’ – Fitch

The federal government’s repeated recourse to its Ways and Means facility with the Central Bank of Nigeria (CBN) shows weaknesses in public finance management, says Fitch Ratings. Fitch Ratings stated this in its report on Wednesday titled ‘Nigeria’s deficit monetisation may raise macro-stability risks’. The W&M facility is the government’s pre-existing overdraft at the CBN…

Kaduna earmarks N970m for rural roads in 2021

Executive Governorof Kaduna State, Nasir El-rufai The Kaduna state government has earmarked the sum of N970 million for rural feeder roads projects in 2021, under its Ministry for Local Government Affairs. This is contained in the breakdown of N1.9 billion allocated to the ministry for capital projects in the 2021 approved budget document. The document…

2021 budget: Reps approve FG’s request to extend timeline for capital projects implementation

… execution now ends March 31, 2021, as against December 31, 2020 …pass Buhari’s Finance Bill, 2020 By Levinus Nwabughiogu-Abuja House of Representatives, Wednesday gave its nod to the request by the Federal Government to extend the timeline for the implementation of capital projects in the 2020 budget. The House passed into law the 2020…

Bauchi governor budgets N213bn for 2021

By Charly Agwam – Bauchi The Bauchi state governor, Bala Mohammed, has presented a budget of N213 billion for the 2021 fiscal year to the Bauchi State House of Assembly for scrutiny. The proposal which is N46 billion higher than the previous year was christened the ‘Budget of Consolidation’. At the presentation at the Bauchi…

Experts harp on need to curb money laundering

By Ebunoluwa Sessou GIABA, an institution of the Economic Community of West African States, ECOWAS, has again harped on the need to curb money laundering saying, failure to address the menace will further disrupt the serenity of the society. Speaking during the workshop organised by GIABA/ AML/CFT CSOs, Information Manager, GIABA, Timothy Melaye disclosed that…

Kano Assembly okays Ganduje’s N20bn loan request

Governor Abdullahi Umar Ganduje of Kano State. By Bashir Bello – Kano Kano State House of Assembly has on Monday okayed Governor Abdullahi Umar Ganduje’s request to access N20 billion Infrastructural facility loan from the Central Bank of Nigeria, CBN and United Bank for Africa, UBA. Ganduje was said to have written to the Assembly…

Financial tips for our youth

One of most important life skills you need throughout your life is financial knowledge. Unfortunately, personal finance is not in the school curriculum. This leaves many young adults without any knowledge about how best to manage money or stay out of debt. Here are some few tips to set you well on the path to…