Daily News...

The House of Representatives Committee on Defence says it will increase the N50 billion budgeted for the Ministry of Defence in 2025 to enable it fight insecurity. The committee made the decision following the adoption of a motion by a member, Philip Agbese, who commended the military for their efforts when the Minister of State for Defence, Bello Matawalle, appeared to defend the Ministry’s budget for 2025.

 The Central Bank of Nigeria, CBN, has sanctioned nine Deposit Money Banks, DMBs, N1.35 billion for failing to make Naira notes available through Automated Teller Machines, ATMs, during the yuletide season. They are Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc and Sterling Bank Plc.

#####

 A Hilux Van carrying two company workers, including an expatriate,  plunged into the Okulu river in Rivers State. The incident happened while the driver was reportedly trying to escape from kidnappers who targeted the van along the Eleme section of the East-West Road.

######

 The Federal Competition and Consumer Protection Commission, FCCPC, on Tuesday signed a Memorandum of Understanding, MoU, with the Nigerian Communications Commission, NCC, to eliminate regulatory gaps in the telecoms industry. At the signing of the MoU in Abuja, the Executive Vice Chairman/CEO, FCCPC, Mr. Tunji Bello, stated that the journey to this milestone has been both challenging and rewarding, as the partnership will benefit both operators and consumers.

#####

 The National Assembly Joint Committee on Finance has given revenue-generating agencies 48-hour ultimatum to appear or risk being withdrawn from government funding for 2025 operations. It decried their failure to honour invitations for their 2025 budget defence and their revenue-generating profile.

#####

 The Naira on Tuesday depreciated to N1,660 per dollar in the parallel market from N1,655 per dollar on Monday. Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market, NFEM fell to N1,549 per dollar from N1,550 per dollar on Monday, indicating N1 appreciation for the naira.

######

 The Nigeria Customs Service, NCS, says it recorded 3,555 seizures in 2024 with a 100.92 per cent increase in the Duty Paid Value, DPV of seizures from N17.56 billion in 2023, to N35.29 billion in 2024. The Comptroller-General, C-G of NCS, Adewale Adeniyi, disclosed this while briefing newsmen on Tuesday in Abuja.

#####

 Former Governor of Sokoto State, Attahiru Dalhatu Bafarawa, has officially quit his membership of the Peoples Democratic Party. He conveyed his resignation from the party in a letter dated January 13, 2025, which was addressed to the PDP acting National Chairman, Umar Damagum.

#####

. The House of Representatives has ordered an investigation into the spread of hepatitis in the country, even as it called for wider public awareness to curtail the virus. The resolution to probe the spread of the virus followed the adoption of a motion by Rep. Kwamoti Laori (PDP-Adamawa) at plenary in Abuja on Tuesday.

#####

 An auto crash involving an articulated vehicle in Kogi on Tuesday left six persons dead and 60 persons injured, the Federal Road Safety Corps, FRSC, confirmed. Mr Samuel Oyedeji, FRSC Kogi Sector Command, who made the disclosure to NAN in Lokoja on Tuesday, attributed the accident to high speed.

from dailypost