Headlines

SOLUDO SACKS ALL 21 LG TRANSITION CHAIRMEN

Anambra State Governor, Chukwuma Soludo, has dismissed all 21 local government transition chairmen in the state. The governor instructed the dismissed chairmen to transfer the responsibilities of their councils to the Heads of Local Government Administrations (HLGAS). This directive was outlined in a letter signed by the Commissioner for Local Government, Chieftaincy, and Community Affairs,…

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NAIRA APPRECIATES ON OFFICIAL, PARALLEL FX MARKET AHEAD OF MPC MEETING

The naira appreciated by N90 on the parallel segment of the foreign exchange (FX) market yesterday, as it closed at N1,450/$1, compared to the previous day’s rate of N1,540/$1.The positive trend extended to the official Nigerian Autonomous Foreign Exchange Market (NAFEX) window, where the naira appreciated by N36.66, closing at N1,497.33/$1 compared to the N1,533.99/$1…

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TINUBU APPROVES PAYMENT OF N3.3TN POWER SECTOR DEBTS

As part of measures to address the epileptic power supply ravaging the country, President Bola Tinubu has approved the gradual payments of power sector debts estimated at over N3.3tn. Consequently, about N1.3tn owed power generating companies by the Federal Government will be paid via cash injections and promissory notes, while about $1.3bn (N1.994tn using the…

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