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The Federal Government yesterday served a notice to the three tiers of government that all payments from the public treasury beyond the threshold approved for daily cash limit by the Central Bank of Nigeria must be done electronically with effect from March 1, 2023.
In effect, the Nigerian Financial and Intelligence Unit, NFIU, which made the announcement, warned that anyone who flouts the new guideline would be charged in accordance with relevant instruments on money laundering and corruption operating in the country.
The Nigeria National Petroleum Company Limited, and the Nigeria MidStream and Downstream Petroleum Regulatory Authority, have explained that the nation is facing a petroleum crisis because of distribution challenges faced by the marketers.
The bodies also explained that the hike in the price of PMS was following the current exchange of N452 to a dollar, adding that the landing price of the product was at N350 per litre.
Forex: FG laments dominance of foreign academic materials in educational institutions
The Minister of Education, Malam Adamu Adamu, has decried the dominance of foreign published materials in the nation’s academic institutions, regretting that the development has taken its toll on foreign exchange.
The minister stated this yesterday while unveiling 50 new textbooks published by Nigerian authors, under the sponsorship of the Tertiary Education Trust Fund, TETFund.
