Senate President, Dr. Bukola Saraki has directed the Senate Committee on Appropriation to submit its harmonized report on the 2018 budget next week to allow for consideration and passage. The Senate President who gave the directive on Tuesday at plenary said the Committee has till Friday to do so.

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Monday expressed optimism that the nation’s foreign reserves would grow to 50 billion dollars before the end of the year. Emefiele said this at the 25th Seminar for finance correspondents and business editors with the theme: “Sustaining Economic Growth Beyond Recession”, in Uyo.

The market indicators of the Nigerian Stock Exchange (NSE) on Tuesday rebounded by 0.17 per cent following gains by Mobil and Dangote Cement. The All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared to 40,429.18 posted on Monday.

The Federal Government has been asked by the Catfish and Allied Fish Farmers Association of Nigeria (CAFAN) to intervene in the ban by the American Government on the exportation of smoked fish to the US.

CAFAN National President Rotimi Oloye, who disclosed this in an interview in Ibadan on Monday said that fish farmers were facing serious predicament at the moment due to the latest ban on exportation of smoked, processed fishery product into the US.

“The American Government had through Food Safety and Inspection Services (FSIS) notice of March 5, 2018, banned the exportation of smoked fish from Nigeria into America.

Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has reacted to media reports of a “strongly-worded letter to the President” objecting to the payment of $16.9 million fees to two lawyers for the recovery of Abacha funds, saying they were malicious and misleading.

According to a statement, the Minister dissociated herself and the Federal Ministry of Finance from the reports on the Abacha refunds, saying at no time did she write any letter to the President or any member of the Federal Executive Council (FEC) on the payment of lawyers for the Abacha recovery.

The CBN Governor, Godwin Emefiele

Nigeria’s foreign reserves have continued to grow significantly with latest figures by the Central Bank of Nigeria (CBN) at about $47.37 billion as at April 5.

The new figures rose from about $46.2 billion realised at the end of March.

The CBN Governor, Godwin Emefiele, announced the new balance in the reserves on Monday at the opening of the 25th seminar for Business Editors and financial Correspondents in Uyo.

The Nigerian Communications Commission (NCC) MTN has paid N165 billion out of the N330 billion fine imposed on it due to its inability to disconnect improperly registered SIM cards.

Executive Vice Chairman of NCC, Prof. Umar Danbatta disclosed this on Monday in Abuja when MTN Group, led by its Chairman in Nigeria, Dr Pascal Dozie visited the commission.

In October 2015, the telecom regulator imposed a fine of N1.04 trillion on MTN Nigeria for not complying with government’s rule on deactivation of unregistered SIM cards.

A recent report released by Exotic Capital, an investment and research firm says the Nigerian Naira has remained stable at the official and parallel markets because the foreign exchange reserve stands at $46.7 billion. The Naira according to the Nation exchanges at N362 to the United States Dollar in the parallel market and N305 in the official market.

The House of Representatives has promised to appropriate adequate funds to the Ministry of Power, Works and Housing to enable it complete all ongoing Transmission Company of Nigeria (TCN) power projects across the country to address power situation. The Chairman, House Committee on Privatization, Hon. Ahmed Yerima gave the assurance on Monday when he led members of the committee to an over-sight function and interaction with management of Enugu Electricity Distribution Company (EEDC) in Enugu.

Nigeria is not indebted to the United Nations as the country has paid $5,080,178 dollars up till April 5, 2018, however, the country is requesting the re-assessment of the scales for the due. The country is the 74th out of the 193 Member States of the global international organisation to fulfill its financial obligations.