Author: TheScrutinyNG

The Federal Government has raised US$2.2 billion Eurobonds maturing in the international capital markets in 2031 (6.5-year) and 2034 (10-year) to finance the 2024 fiscal deficit and support the government’s budgetary needs. The Debt Management Office (DMO) announced in a statement on Monday that “The Federal Government has successfully priced US$2.2 billion in Eurobonds maturing in 2031 (6.5-year) and 2034 (10-year) in the international capital markets.” The funds have USS700 million and USS$1.5 billion placed in the 2031 and 2034 maturities, respectively. The 6.5-year and 10-year Notes were priced at Coupon and Re-offer Yields of 9.625 percent and 10.375 percent,…

The Nigeria Labour Congress (NLC) has said that 2024 is a year filled with harrowing hardship and the worst of its kind for Nigerian workers. NLC President, Comrade Joe Ajaero, said this at the opening session of the Nigeria Labour Congress 2024 Harmattan School in Abuja, tagged, “Trade Unions and the Quest for a New Social Contract. Charging workers participating in the harmattan school to actively engage in the training, which aims at preparing workers for the engagement and negotiation for the new social contract, Ajaero said: “I welcome you to a year that we have witnessed one of the…

A Vietnamese court upheld the death penalty Tuesday for a property tycoon, Truong My Lan, in a multi-billion dollar fraud case — but said her life could still be spared if she paid back three-quarters of the assets she embezzled. Property developer Lan, 68, was convicted earlier this year of swindling money from Saigon Commercial Bank — which prosecutors said she controlled — and condemned to die for fraud totalling $27 billion. She appealed the verdict in a month-long trial, but on Tuesday the court in Ho Chi Minh City determined that there was “no basis” to reduce the death…

The leader of the Labour Party (LP) and its the 2023 presidential candidate, Peter Obi, has called for transparency in the proposed tax reform of the Federal Government. Obi, writing on X handle on Monday, said carrying out tax reform is not bad but must be done carrying the populace along and should not be done with the government as the sole beneficiary. ‘Tax reform is a critical issue, and there is nothing wrong with pursuing it. However, such reforms must be subject to robust public debate. “A public hearing on tax reform is essential, allowing Nigerians from all walks…

A controversial refereeing decision sparked violence and a crush at a soccer match in southeast Guinea, killing 56 people, according to a provisional toll, the government said on Monday. The fatalities occurred during the final of a tournament in honour of Guinea’s military leader Mamady Doumbouya at a stadium in Nzerekore, one of the nation’s largest cities. Some fans threw stones, triggering panic and a crush, the government statement said, promising an investigation. A video authenticated by Reuters showed dozens of people scrambling over high walls to escape. Speaking on condition of anonymity, an official from the city’s administration said…

Tajudeen Abbas, the Speaker of the House of Representatives, has identified inadequate funding as one of the most significant challenges hindering local government autonomy in Nigeria, calling for urgent reforms to enhance local government administration. Speaking at a National Dialogue on Local Government Reform and Constitutional Amendment in Abuja, Abbas, represented by Deputy Speaker Hon. Benjamin Okezie Kalu, emphasized that local governments are often financially constrained, affecting their ability to provide essential services such as education, healthcare, and infrastructure development. He stated, “Local governments often operate on budgets that are insufficient to meet their responsibilities. This financial constraint limits their…

In a very tragic incident which happened in Ede, Osun State, on Monday (today), a Customs Officer, Tijani Kabiru, his wife and their four children died in a fire accident. Tijani is attached to the Oyo, Osun Command of the Nigerian Customs Service. The fire reportedly started around 2 a.m. at the family’s residence in the Olowopoku area of Ede. Sources revealed that Kabiru, who was in his late 40s, was asleep alongside his wife and five children when the fire, believed to have originated from the solar panel installed on the roof of the house, engulfed the building. The…

The Central Bank of Nigeria is reported to be preparing to retire approximately 1,000 employees as part of a strategic workforce realignment. A severance package worth over N50 billion was said to have been allocated as the payoff for the exercise. According to an insider, the retirement initiative is driven by the need to streamline operations and reduce staff numbers under the leadership of the apex bank’s Governor, Olayemi Cardoso. A circular released three weeks ago by the CBN noted that the application for Early Exit Package (EPP) was open to all cadres of staff and will close by Saturday,…

President Bola Tinubu, on Sunday, expressed the Federal Government’s recommit to ending the threat of HIV and free treatment for HIV, ensuring no one is left. President Tinubu, who gave the assurance at the 2024 World AIDS Day Celebration in Abuja, also commended the National Agency for the Control of AIDS (NACA). According to him, the current prevalence as well as vertical transmission of HIV from mothers to children is an indication of the substantial responsibility that lies ahead of Nigeria. President Tinubu said the Federal government remains committed to sustaining the gains made over the past two decades on…

After suspending the planned electronic levy deductions following the hues and cries that trailed it, the Federal Government has finally carved in and commenced the deductions from transactions of N10,000 and above made by users of financial technology (Fintech) companies, including Opay, Moniepoint, Kuda, and others. The levy, called Electronic Money Transfer Levy (EMTL), introduced under the Finance Act 2020, places a singular and one-off levy of N50 on the recipient of any electronic receipt or transfer of N10,000 or above, and was earlier announced to take effect from September 9, Tribune Online reported. The introduction of the EMTL was,…