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Edited By ArabianInfo A day workshop on area potential survey of lkorodu Local Govt. Sponsored by GIZ Germany Consultant. Honourable Leader of The legislator Chamber and The Deputy Leader of The Legislative arms of the Local Government were actively present. Courtesy :  Araba, Olawale Enifenilanfe  Wadesh Media & Publicity.

Broardcast By Araba, Olawale Enifenilanfe  For nine (9) consecutive month running, 1,079 beneficiaries of the Senator Tokunbo Abiru COVID-19 Financial Assistance received direct credit in their respective bank accounts today across 98 wards of the 16 Local Governments and the Local Council Development Areas, LCDAs in the Lagos East Senatorial District.   Those that benefitted this September belong to the Batch A category. Over a thousand beneficiaries in the category B will receive support next month.  The COVID-19 support scheme which kicked off  January, 2021 in fulfilment of the promise made by the distinguished Senator during the electioneering to assist the poorest of the poor across the Lagos East Senatorial District.    Selected beneficiaries have been getting N5000 assistance bimonthly (i.e once in two months) since the beginning of the year and it will run through the year by way of direct credit to their bank accounts.   Beneficia...

Edited By ArabaianInfo. A Former Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Rafiu Ibrahim, has traced the current woes of the Nigerian naira to the introduction of  Bureau de Change  by former military president General Ibrahim Babangida. Senator Ibrahim, who represented Kwara South in the 8th National Assembly, added that the BDCs were introduced to legalise the then unregistered black market. He said that “the rate at which the naira depreciated in those few years probably explains why Nigerians have never gotten over the idea of a strong currency as the mark of a ‘strong’ economy. People only remember that things got worse as the naira lost ground to the dollar. “The woes of the naira culminated in a 1,789 percent devaluation in eight years of that regime.” The Senator said this in Ilorin, Kwara State capital at a lecture organised by the state council of the Nigerian Union of Journalists (NUJ). He ...

Edited By Araba, Enifenilanfe Olawale  Merchants are barred from exceeding N1 million a deal on eNaira transactions, the Central Bank guideline on the usage of the digital currency indicates. This is part of the operating model and prototype design of the payment platform due to take off on Friday. While the N1 million ceiling is placed on sending and receiving money per transaction on the eNaira, there is no limit to the amount merchants can sweep to their bank accounts. The regulator is however working out the final transaction costs for digital currency users. The Project Giant, unveiled by the CBN to banks, sets limits for eNaira transactions to be conducted by digital currency users with banks and merchants. According to the CBN presentation, Tier 1 consumers with no existing bank account are to conduct daily transaction sending and receiving limit of N50, 000 each and cumulative daily balance of N300, 000. For Tier 2 consumers (those operating bank accounts), the ...

Edited By Araba, Olawale Enifenilanfe 1.  Presidency Speaks On ‘Little Difference’ Between IPOB And Yoruba Nation Agitators President Muhammadu Buhari’s Senior Special Assistant on Media and Publicity, Garba Shehu, has criticized Yoruba nation agitators and the Indigenous People of Biafra (IPOB) for protesting against his principal at the United Nations. Naija News reports that the presidential spokesman in an article titled ‘My takeaways from the 76th UN general assembly session’, described the protest in New York, US, during the United Nations event as “tribal bullying of government officials”. According to him, “While President Buhari was focusing on the problems plaguing the nation and in some instances asking for international support to deal with such, a coalition of groups protested outside the UN building. Shehu then criticized the Yoruba nation agitators for associating with IPOB, stressing that they are “demonstrating there ...

• We are open to dialogue, says NARD The Federal Government on Sunday night said it has not received any official communication from resident doctors on their minimum demands for an end of their 56-day old strike. The government however, assured that it would make its position known to the doctors once it received such communication from the striking doctors’ umbrella body, the Nigerian Association of Resident Doctors (NARD). NARD had  at the end of its 41st Annual General Meeting (AGM) and Scientific Conference in Bauchi, Bauchi  State, at the weekend asked the government to pay the salary arrears of its members on the Government Integrated Financial Management Information System  (GIFMIS) The other conditions the association gave for its members to resume work are the payments of medical residency training fund (MRTF) for 2020 and 2021 and withheld August and September salaries; payment of the salary arrears and allowances of doctors in state tertiary health...

Research By Araba, Olawale Enifenilanfe Unless Nigeria is able to ramp up its production in the current month, the country would be unable to maximum the current rise in crude oil prices in the international market. Oil prices rose for the third week in a row to a near three-year high on Friday with the Brent crude futures rising to above $78 a barrel, the highest since October 2018. Also, WTI crude rose for the fifth consecutive week, with futures up almost three per cent to an 8-week high of $73.98 a barrel boosted by growing fuel demand and falling US crude inventories. The rally in oil prices should come as good news for oil producing countries such as Nigeria, that relies on crude oil sales for over 90 per cent of its foreign exchange earnings, boost the nation’s revenue needed for the implementation of the 2021 budget — improve crude oil receipts — consequently bolster foreign exchange inflows. However, if Nigeria’s crude oil production output do not rise above the av...