The Senate on Tuesday lauded the Central Bank of Nigeria (CBN) for acquiring Hi-Definition scanners and platform to check foreign exchange leakages and other infractions in the import-export value chain, News Agency of Nigeria reported. The Chairman of Senate Committee on Customs, Excise and Tariff, Sen. Hope Uzodinma, made the commendation in an interview with newsmen on Tuesday in Abuja.

Umar Garba Dambatta

The Executive Vice Chairman of the Nigeria Communications Commission (NCC), Umar Garba Dambatta, has told Nigerians to expect a new data price as soon as an on-going cost-based research is concluded.

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has retained monetary policy rate (MPR) at 14 percent and all other parameters unchanged for 12 months running. Recall that the Monetary Policy Committee on July 26, 2016, voted to raise MPR from 12 percent in May, 2016 to 14 percent — the highest in at least 10 years.

The Federal Government has reportedly issued 10 additional licenses for the establishment of modular refineries in the country, bring the number of investors in the oil sector to 32.  The Director, Department of Petroleum Resources (DPR), Mordecai Danteni made the disclosure on Thursday in Lagos at the third edition of Lagos Chamber of Commerce and Industry (LCCI) event entitled Downstream Clinic.

UN - Food Crisis

The United Nations (UN) says it is doing everything possible to avert further deterioration of the food scarcity suffered by victims of Boko Haram crisis in the North East.

The Registrar General (RG) of the Corporate Affairs Commission (CAC), Bello Mahmud has disclosed that the Commission has no plans to meet the demands of the protesting workers unless the Ministry of Trade and Investment approves the agreements earlier entered into with them.

Nigeria's economy has been projected to grow faster than South African Economy in the 2018 fiscal year, according to a recent report released by International Monetary Fund (IMF). According to the report entitled "World Economic Outlook for July 2017", the IMF stated that Nigeria's economy will grow at 1.9% in 2018 fiscal year while that of South Africa will witness 1.2% growth.

The United Nations Resident Humanitarian Coordinator in Nigeria, Edward Kallon has said the country cannot guarantee technology-based education because over 65 per cent of the 74,280 public primary and junior secondary schools in Nigeria lack electricity.  Basic education and electricity have been termed as critical development issues begging for urgent attention from government and all stakeholders.

OPEC

Saudi Energy Minister Khalid al-Falih on Monday disclosed that OPEC and ten other major oil producers remain supportive of conflict-torn Libya and Nigeria as they attempt to recover and increase crude production.

Some Abuja residents will experience improved electricity supply with the commissioning of the Kukuaba 132/33KVA Transmission Station, by the Abuja Electricity Distribution Company (AEDC) on Monday. The Managing Director of AEDC, Engr. Ernest Mupwaya explained that the company can now distribute power directly to Lugbe and its environs.