Author: Amina Mohammed

The Monetary Policy Committee (MPC), on Tuesday announced another increase in the country’s Monetary Policy Rate (MPR), known as the baseline interest rate, to 26.75 per cent from 26.25 per cent. The MPC also adjusted the Asymmetric Corridor to +500/-100 basis points from +100/-300 basis points around the MPR. Mr Yemi Cardoso, the Governor of CBN made this known on Tuesday in Abuja, while presenting the communiqué from the 296th meeting of the MPC. Stay tuned for more details…

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The House of Representatives has called for the suspension of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) pending conclusive investigations into the allegations against the Authority. This followed the adoption of a motion of urgent public importance by Hon. Esosa Iyawe on the House’s urgent need to address the outage resulting from what he called unguarded comments from him. Hon. Iyawe had reminded the House that fuel quality can impact engine hardware, thus ultra-low sulfur diesel is recommended for all types of companies, power plants, storage tanks, industrial facilities, fleets and heavy equipment, and even…

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Lagos state Commissioner for Information, Gbenga Omotoso on Tuesday said he was not aware if the $100m paid by Dangote Group to secure a land for the building of Dangote Refinery was done during the tenure of Governor Babajide Sanwo-Olu. Omotoso who spoke with TheScrutinyNG on telephone said he will have to find out the period the alleged sum was paid. Chairman of Dangote Group, Aliko Dangote, has disclosed that he paid $100 million to the Lagos State government to acquire the land on which Dangote Refinery was built, contrary to the belief that it was offered to him free…

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President Bola Ahmed Tinubu on Wednesday presented the 70,000 Minimum Wage bill to the House of Representatives for consideration and passage into law. The bill is to legalise the N70,000 recently agreed upon between organised Labour, the organised private sector and the federal government after a series of negotiations. The letter from the President which was read on the floor of the House by Speaker Rep Tajudeen Abbas provides for a new national minimum wage as well as the legal framework for the implementation of the agreed wage. Tinubu appealed to the Lawmakers to expedite the passage of the minimum…

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The Nigerian Navy Quick Response Team of the Forward Operating Base BONNY has killed one suspected oil thief during a fire-fight in their hideouts at Elem-Akrakama and Elem-Tombia of Rivers State. The team also arrested two suspects during an encounter on Sunday, July 21. Navy’s spokesperson, Commodore Aiwuyor Aliu-Adams, announced this in a statement on Tuesday, July 2 3. He said: “The suspects who were armed onboard two speedboats diverted and fled into their camp with the Nigerian Navy personnel in pursuit. “The Nigerian Navy team deployed drone surveillance for situational awareness and effective fires forcing the suspects to retreat…

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The Minister of Works, Engr. David Umahi, has announced the Federal Government’s renewed commitment to completing the East-West Road project in order to unlock the full economic potentials of communities in the South South geo-political zone. Umahi made the announcement while on an on the spot assessment of the project sites at the sites at section II: Kaiama- Ahoada in Rivers/ Bayelsa State. This was contained in a statement signed by his Special Adviser (Media), Orji Uchenna Orji, in Abuja, yesterday. The Minister explained that the President Bola Tinubu-led Renewed Hope administration remains committed to giving all regions the requisite…

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Controversial singer Charly Boy has promised to divorce his wife of 47 years if United States Vice President Kamala Harris fails to win the upcoming presidential election. Charly Boy, known for unconventional statements, expressed admiration for Harris, calling her his “crush” and asserting that America deserves its first Black Female President after having its first Black Male President, Barack Obama. The musician made his vow in a social media post, writing in Pidgin, “If dis my crush, Kamala Harris no win the USA presidential election, I swear, I go divorce my wife of 47yrs. “After the first Black Male President,…

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The Kaduna Zonal Command of the Economic and Financial Crim,es Commission, EFCC has arraigned one Audu Ishida (a.k.a Baddie Kylemilli) for internet crime. Ishida is facing a one-count charge, bordering on impersonation, retention of proceeds of crime and money laundering before Justice Hauwa’u Buhari of the Federal High Court, sitting in Kaduna State. The charge reads: “That you Audu Ishida (Baddie Kylemilli) on or about the 2nd of June, 2024 in Jos, within the jurisdiction of this honourable court, retained the total sum of $50 USD from your victim which you reasonably ought to have known, forms parts of proceeds…

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Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested 10 suspected illegal miners in Ogbomoso, Oyo State. They were arrested with six trucks fully loaded with lithium. The suspected illegal miners are Yunusa Adisa, Ganiyu Kazeem, Muideen Babayemi, Sulaiman Usman, Adeleke Waliu, Tiamiyu Rokeeb, Olusola Sunday, Oyedokun Oluwagbemiga, Sulaimon Ishiaq and Olufimihan Eniola. The arrests followed credible intelligence on their suspected involvement in the criminal extraction of solid mineral resources in the state, especially lithium and their evacuation to unknown destinations. The suspects would be charged to court upon conclusion of investigations

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