The Federal Executive Council is proposing a bill that would see 30 per cent of allocations received by the Tertiary Education Trust Fund go to the Student Loan Scheme. The bill seeks to amend Section 3 of the Tertiary Education Trust Fund Act No. 16, 2011, labelled ‘Establishment of the Tertiary Education Trust Fund.’ The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, revealed this while briefing State House Correspondents at the Aso Rock Villa, Abuja, on Wednesday. Onanuga said this former part of the omnibus Economic Stabilisation Bills (2024) was considered and approved at the…
Author: UZDO Media
The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to eligible Bureau De Change operator across the country. This was disclosed by the apex bank in a statement signed by the Acting Director of Trade and Exchange Department, Dr W. J Kanya, on Wednesday. It said the sales will help operators meet retail market demand for eligible invisible transactions. The latest intervention of the central bank comes hours after the Nigerian naira dropped in value against the dollar to N1,658.48 in the Nigerian Autonomous Foreign Exchange on Tuesday. At the parallel market, bureau de…
The Federal High Court in Abuja, on Wednesday, restrained the Peoples Democratic Party Governors’ Forum, the party’s National Working Committee as well as the PDP Board of Trustees from tampering with or dissolving the Executive Committees of the party in Rivers State. The court also stopped the defendants from constituting any interim committee to replace the officers of the party at the state, local governments and ward levels who are loyal to the Minister of the Federal Capital Territory, Nyesom Wike. Justice Peter Lifu issued the order while delivering a ruling on an ex parte application brought before the court…
The Nigerian Bar Association Election Working Group has released its report on the Edo State governorship elections held on September 21, 2024,. The NBA highlighted logistical delays, low voter turnout, and instances of attempted vote buying. Despite these challenges, the group praised the overall conduct of voters and security personnel, describing the election process as generally peaceful. Accredited by the Independent National Electoral Commission to observe the elections, the NBA deployed observers to various polling units across Edo State. These included representatives from the five NBA branches in the state—Benin, Auchi, Igarra, Uromi, and Ekpoma to ensure comprehensive coverage. The…
Wema Bank has been recognised as the best workplace for millennials and for promoting a culture of innovation. The lender mentioned in a statement on Thursday that the recognition was part of its achievement, being certified as a Great Place to Work for 2024-2025, marking the second consecutive year of receiving the prestigious certification. The Great Place to Work certification is a globally recognised standard that assesses an organisation’s workplace culture, practices, and employee feedback. “Wema Bank’s commitment to creating a positive work environment and prioritising employee well-being has earned it this honour once again,” it stated. According to the…
The National Association of Nigerian Students has called on the Federal Government to meet with the leadership of the Academic Staff Union of Universities regarding the recent strike threat. The student body noted that a strike was not advisable at this point in time. NANS Senate President, Akinteye Babatunde made this known in an interview with our correspondent in Abuja following a fresh 14-day ultimatum issued by ASUU on Wednesday over failed negotiations with the Federal Government. “We are asking the Federal Government to meet with ASUU and discuss with them because ASUU strike at this point in time is…
The Delta State Police Command on Wednesday said the operators of an Internet fraud academy, where over 100 teenagers were arrested by men of the Nigerian Army, lured the suspects with a promise to train them in Bitcoin and forex trading. The command’s Public Relations Officer, Bright Edafe, in a video shared on his X page on Wednesday, narrated that the suspects had arrived at the academy only to discover that it was a “Hustling Kingdom.” PUNCH Metro reports that the soldiers from the 3rd Battalion Nigerian Army Barracks stormed an estate in the Warri area of the state and…
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has denied claims that a United States District Court authorised Louis E. Williams to seize $21m from Nigeria’s account with JP Morgan. The Ministry of Justice, in a statement signed by the AGF, on Wednesday, clarified that the inaccuracies first published by an online media platform (not The PUNCH) were completely false. The statement criticised the reports for failing to seek the ministry’s response, as he challenged the media outlets to provide a copy of any US court order related to the alleged seizure. It said the…
The Nigerian Exchange Limited has recorded total transactions of N3.48tn year-to-date as of August 31. This was revealed in the NGX domestic and foreign portfolio investment report for August released on Wednesday. According to the report, domestic investors dominated the market, accounting for 81.14 per cent of total transactions, while foreign investors accounted for 18.86 per cent. It stated that the total value of domestic transactions stood at N2.82tn, while foreign transactions amounted to N655.47bn. In August, the local bourse witnessed a 22.80 per cent decline in total transactions, dropping from N491.61bn in July 2024 to N379.52bn. Despite the drop,…
The Federal Government has stated that it will not interfere in the ongoing dispute between the Nigerian National Petroleum Company Limited and Dangote Refinery over the pump prices of Premium Motor Spirit (petrol). This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, while briefing State House correspondents at the Aso Rock Villa, Abuja, on Wednesday. Onanuga explained that, since the petroleum market has been deregulated, both Dangote and NNPCL, as oil refiners and marketers, have the freedom to set their petrol prices based on market forces. “The PMS price regime has been…