Tag: Federal Ministry of Finance

Buhari excludes Finance Ministry from TSA

Aminu Imam

President Muhammadu Buhari yesterday, gave his approval for the Ministry of Finance Incorporated, (MOFI), to be partially excluded from the Treasury Single Account. Along with granting the inclusion of the Minister of Power in the Governing Council, Buhari also agreed to the Board of MOFIs request to levy administration and transaction fees. In order to turn MOFI from a register of investment records into a premier asset and investment management organisation, the new MOFI was launched on February 1, 2023, according to the President, who delivered the permission at the…

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Just In! Federal Ministry of Finance building in Abuja reportedly on fire

Aminu Imam

The Federal Ministry of Finance building, located in the Central Business District (CBD), of Abuja, the Federal capital, is currently on fire. As of the time of this report, firefighters of the Federal Fire Service and other concerned agencies had arrived at the scene andare currently on the ground trying to salvage the situation. Details to follow…

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At last, FG approves re-opening of our land borders

Aminu Imam

President Muhammadu Buhari has approved the recommendation of a committee for the re-opening of four land borders with immediate effect, while others will be reopened in due course. The Minister of Finance Budget and National Planning, Zainab Ahmed, made the disclosure after the 28th virtual meeting, which the President attended from Daura, Katsina. The Council meeting was presided over by Vice President Yemi Osinbajo. According to Ahmed, restriction on the importation of some commodities, like rice and other products, would however continue. The borders opened for now include Seme and…

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World Bank finally approves $1.5bn loan for Nigeria

Aminu Imam

The World Bank has approved Nigerias request for a $1.5 billion loan.  In a statement on Tuesday, the Bretton Wood institution said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. The bank said the facility was prepared jointly with the International Finance Corporation (IFC) and the Multi-lateral Investment Guarantee Agency (MIGA). The loan will focus on four areas of engagement namely Investing in human capital, promoting jobs and economic transformation and diversification, enhancing resilience and strengthening the foundations of the public sector. …

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