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Nigerian Senate Increase Prisoner’s Feeding Cost By 122%
A little over 62,260 people that makeup Nigeria’s prison population would now earn up to N1000 for daily feeding allowance, according to a senate committee’s new decision. The Senate Committee on Interior recently agreed to increase the daily feeding cost of prisoners per day from N450 to N1,000, as proposed in the 2022 budget. The…
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In Nine Months, Nigeria Subsidized Fuel With N864.07bn
The Nigerian National Petroleum Corporation has said it spent a total of N864.07 billion between January and September subsidising Premium Motor Spirit, popularly known as petrol. This amount represents 31 percent of the total revenue of N2.7 trillion generated by the corporation between January and September. Breakdown by months Analysis from the report submitted by…
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CBN Spends N58.6bn To Print 2.5bn Naira Notes
The Central Bank of Nigeria has spent the sum of N58.618 billion to print 2.518 billion Naira notes, valued at 1. 063 trillion in 2020. This was contained in the bank’s 2020 Currency Report indicating a decrease in the bank’s expenditure on currency printing, which stood at N75. 523 billion, in 2019 and N64. 040…
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Nigerian Stock Market Opens November Bearish, Down By N32Bn
Nigerian stock market opened trading for November on a negative note with the market capitalisation which previously resumed for the month at N21.938 trillion, ending up losing N32 billion or 0.15 percent on profit-taking. Also, the All-Share Index dropped 61.81 points or 0.15 per cent to close at 41,976.79 from 42,038.60 achieved on Friday. The…
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CBN Grants Telecom Companies Banking License
The Central Bank of Nigeria (CBN) has granted telecommunication companies MTN and Airtel Payment Service Bank (PSB) licenses, according to separate statements by the leading companies. Airtel will now be vying for a share of the financial market through its subsidiary, SMARTCASH Payment Service Bank Limited (Smartcash), while MTN will conduct its PSB business via…
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Global Food Prices Hit A 10-Year High – UN
United Nations Food and Agriculture Organization has reported the continuous climb in food prices around the world, hitting a fresh decade high last month. The FAO Food Price Index climbed for a third straight month in October, jumping 3 percent from the previous month to reach its highest level since July 2011. Cereal prices overall…
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Microsoft To Join Metaverse Race, Introduces Mesh For Teams
As virtual reality hybrid work is taking shape across the world of tech, Microsoft has introduced its Mesh for Microsoft Teams that would let people in different locations join virtual meetings, send chats, collaborate on shared documents, and more. Microsoft says the Mesh platform will let people meet in the virtual space without having to…
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11 Soldiers Killed In Latest Violent Raid In Mali
Suspected terrorists have killed 11 soldiers defending a village in a remote part of southwest Niger near another village where 69 people were recently killed, according to the state defence ministry. The heavily armed attackers approached in a convoy of cars and motorbikes on Thursday afternoon, clashing with soldiers stationed outside the village of Dagne…
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Infographics: Anambra State Election In Numbers
With over 2,246,663.8 registered voters and the accreditation of 253,388 voters, the Anambra State gubernatorial elections have chauffered in Professor Charles Chukwuma Soludo as the governor-elect of the state, as announced by the Independent National Electoral Commission (INEC) in the early hours of Wednesday, November 10, 2021. A total of 18 candidates contested at this…
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Rebel Group Seize Villages In DRC Near Uganda, Rwanda Borders
Suspected fighters from M23, a rebel group that claimed large swaths of territory between 2012 and 2013 has seized at least two villages overnight in the eastern Democratic Republic of the Congo (DRC) near the border with Uganda and Rwanda, according to local officials. On Monday, Lieutenant-Colonel Muhindo Luanzo, assistant to the administrator of Rutshuru…