Tag: Federal Executive Council

We Didn’t Direct Banks To Disburse Old Notes – CBN

Abibat Babalola

The Central Bank of Nigeria (CBN) on Tuesday said it has not issued a fresh directive to commercial banks on last Friday’s judgment of the Supreme Court ordering the circulation of the old naira notes alongside the new ones until December 31. A seven-member panel of justices presided over by Justice Inyang Okoro had described as unconstitutional, President Muhammadu Buhari’s directive to the CBN for the redesigning and withdrawal of old notes of N200, N500 and N1,000, without consultation with the states, Federal Executive Council, the National Council of States,…

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Nigeria’ll Pay N3trn To NNPC As Fuel Subsidy In 2022

ADESUPO OSOSANYA

N443 billion allocated for fuel subsidy presently in the 2022 budget cannot last beyond June – Minister   The Federal Executive Council (FEC) has approved N3 trillion for the Nigerian National Petroleum Company, NNPC, Limited to offset payment of fuel subsidy in 2022. Platforms Africa reports that the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who made the disclosure maintained that the FEC considered the request to make additional funding provision to enable the government to meet incremental fuel subsidy payment in the 2022 budget. She recalled…

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NNPC to Spend N621.2bn on 21 Nigerian Roads’ Reconstruction

Aliyu Aliyu

Here is the full list of roads already taken over by the NNPC for reconstruction with full approval of the Federal Executive Council (FEC)   The reconstruction of 21 Nigerian roads taken over by the Nigerian National Petroleum Corporation (NNPC) is to gulp a whooping N621.2 billion, Platforms Africa reports. The Federal Executive Council (FEC) has already approved the takeover of the 21 federal roads by the Nigerian National Petroleum Corporation (NNPC) for reconstruction. Platforms Africa reports that the approval was given at the council meeting presided over by Vice…

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