News
BREAKING: Reps scrap N5bn presidential yacht from budget, increase student’s loan to 10bn
The House of Representatives has removed the controversial N5 billion presidential yacht from the 2023 supplementary budget.
The budget was passed on Tuesday by the House after adopting the report submitted by the Chairman of the Appropriations Committee, Abubakar Bichi from Kano State.
The Committee of Supply considered the recommendations of the Appropriations Committee and passed the bill.
Bichi, after the passage of the budget, spoke with journalists and announced that the controversial presidential yacht was removed by the committee.
He stated that the N5 billion was moved to the Student Loans, increasing the allocation for student loans to 10bn as against 5. 5bn
The Committee also increased the budgetary allocation of the Ministry of Defence from 476bn to 546bn following security concerns.
Bichi also disclosed that the minimum wage for workers was considered and approved for onward transmission to the executive while promising proper legislative oversight to ensure 100 percent implementation
The sum of 100bn was also retained for FCT as requested by the minister of the FCT, Nyesom Wike
The House, therefore, passed the sum of N2.177 trn as the supplementary budget.
Recall that the proposal by President Bola Tinubu had included spending N1.5 billion on vehicles for the office of the First Lady, N5 billion on a presidential yacht and another N12.5 billion on the presidential air fleet.
There are ongoing campaigns on social media to stop the National Assembly from approving the supplementary budget, however, the bill has been given speedy approval.
Following the passage of the bill, Speaker Tajudeen Abbas announced that the president would sign the bill on Friday.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
News
Tinubu appoints Lamido Yuguda as CBN’s Deputy Governor
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
PRESIDENT Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN)
The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
This was disclosed on Wednesday by the presidential spokesman, Bayo Onanuga.
The President charges Yuguda to discharge his responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth.
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He is an alumnus of Ahmadu Bello University, where he graduated in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career in 1984 at the Central Bank of Nigeria (CBN) as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016, after he had served as Director of the Reserve Management Department for six years.
News
JUST IN: IGP Disu Assigns Portfolios to New DIGs
DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.
Sources said that the DIGs were assigned departments based on their areas of competence.
DIG Zachariah Fera Achinyan has been deployed to Legal Services,
DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);
DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.
2Baba in talks with Defense Minister to leverage music for Nat’l Security
Trump says he thinks Putin is helping Iran
CBN places suspicious BVNs on 24-hour watchlist
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Sports3 days agoFIBA W/Cup 2026 Qualifying Tournament Begins Today with Nigeria’s D’Tigress Vs Colombia
-
Business3 days agoJUST IN : Traders Resist Takeover of Lagos International Trade Fair Complex By LASG
-
International3 days agoFAO Food Price Index rises in February for first time in five months
-
Sports3 days agoNigerian midfielder Daga jailed six months over sexual assault
-
International3 days agoNASA’s Satellite Crashing Back to Earth After 14 Years in Orbit
-
International3 days agoTrump says U.S.will build $300 billion new refinery backed by India’s Reliance Industries
-
Business3 days agoNigeria gears up to host Intra-African Trade Fair 2027
-
News2 days agoTinubu appoints Lamido Yuguda as CBN’s Deputy Governor