An ex-Deputy Governor of the Central Bank of Nigeria (CBN), Obadiah Mailafia, has disclosed that 20% of the total currency flowing across the country is fake. Mailafia who disclosed this at the opening session of a three-day public hearing on the 2017 budget appropriation process in the National Assembly, said that is so upsetting that the concerned authorities seem to be ignorant of the...

New initiatives by the Nigerian-British Chamber of Commerce (NBCC) to promote made-in-Nigeria products, could increase the trade volume between Nigeria and the UK above the projected N7.7 trillion (£20 billion) by 2020. The President of NBCC, Adedapo Adelegan (photo), who disclosed this while unveiling plans to mark the 40th-anniversary celebration of the Chamber in Lagos said that in spite...

Nigeria’s President, Muhammadu Buhari and the U.S. President, Donald Trump, on Monday, discussed a possible new arms deal that will help the West African nation combat terrorism. According to a statement from the Special Adviser to the President on Media and Publicity, Femi Adesina, President Trump “assured the Nigerian president of U.S. readiness to cut a new deal in helping Nigeria in...

Last Sunday, the Martin Luther King Movement (MMLK) published a declaration to ask that land audits are carried out in all of Togo’s communities. Edoh Komi, the civil group’s president, denounced the unorthodox management of land resources by mayors and their collaborators in the communities. “They continually take advantage of populations. Victims are often and always land owners. To hide...

ASKY, the Pan-African airline, wishes to inform its esteemed customers that, due to rehabilitation work on the runway, the Nnamdi Azikiwe International Airport in Abuja will be closed from 8 March to 18 April 2017 as communicated by the Airport Authorities of Abuja, Nigeria. The airline would like to reassure its esteemed customers that arrangements have been made in collaboration with the...

France and Niger have signed a 3-year cooperation agreement which might see the first provide the second over FCFA39 billion (about €60 million) of financing. The agreement was initialed in Paris during the visit of Niger’s Prime Minister Brigi Rafini from Feb 7 to 10, 2017. From the total amount provided, close to €50 million will be used to establish the Kandadji hydropower...

Mali’s gold reserves have been scaled up from 800 t to 822 t which can be exploited over 16 years based on actual production levels. This was announced by Mali’s minister of mines who said the increase is due to new discoveries by mining firms since the last estimation. “The increase in reserves is due to new discoveries in various mines, including Rangold’s Loulo-Gounkoto complex and...

A document from the Ministry of Budget and National Planning has revealed plans by the Federal Government to sell some assets over the next four years to generate as much as $16.4 billion to help reduce the deficit in the 2017 budget. According to the document obtained by Bloomberg, the sales will assist in tackling inefficiencies and reduce corruption in public enterprises. Although...

In line with President Buhari’s drive to eradicate corruption, Nigeria has, in less than two months, recovered $177 million of embezzled funds, the information Ministry revealed in a statement on Sunday. “The looted funds were recovered from just three sources through whistle-blowers who gave actionable information to the office of the Minister of Justice and Attorney-General of the...

The Federal Government of Nigeria has allocated the sum of N51bn ($162 million) in the 2017 budget to develop the garment and textile sector as this will help in job creation, support diversification efforts and increase the patronage of made-in-Nigeria apparels. Aisha Abubakar (photo), minister of State of Industry, Trade and Investment who made the announcement, highlighted that “out of...