FG TO PRIORITIZE RESOURCE ALLOCATION IN THE FACE OF LOW OIL PRICES. (PHOTO). #PRESS RELEASE

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 PRESS RELEASE  FG TO PRIORITIZE  RESOURCE ALLOCATION IN THE FACE OF LOW OIL PRICES The Federal Government of Nigeria will pursue diversification of its revenues and adopt greater prudent resource allocation measures to mitigate the impact of low oil prices should it continue, according to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Speaking at a meeting with investors during the ongoing IMF/World Bank Spring Meetings in Washington DC yesterday, Mr Wale Edun emphasized that with the recent reforms embarked upon by the present administration, Nigeria is better positioned to deal with global economic uncertainties. The meeting was also attended by the Chairman, Senate Committee on Finance, Senator Mohammed Sani Musa; the Deputy Chairman of the House of Representatives Committee for Finance, Hon. Saidu Musa Abdullahi; the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso; the Permanent Secretary of the Federal Ministry of Finan...
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REPORT: US SENT AIRCRAFT WITH MEDICAL EQUIPMENT TO EVACUATE BINANCE EXECUTIVE FROM NIGERIA. (PHOTO).

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 Report: US sent aircraft with medical equipment to evacuate Binance executive from Nigeria


The US sent an aircraft equipped with medical equipment to evacuate Tigran Gambaryan, an executive of Binance Holdings Limited, from Nigeria, according to The New York Times.

Gambaryan left the country after the federal government dropped money laundering charges against him on Wednesday.

The Binance executive had been in detention since February following the clampdown on the cryptocurrency exchange firm over alleged manipulation of the naira.

The federal government had detained Gambaryan and Nadeem Anjarwalla, a Binance regional manager, over the activities of the cryptocurrency firm.

However, in March, Anjarwalla escaped from the custody of the office of the national security adviser (ONSA), leaving only Gambaryan to face the charges.

Yuki, Gambaryan’s wife, had repeatedly written to the federal government to release her husband over his deteriorating health condition.

During his stay in custody, the newspaper said the Binance executive contracted malaria, double pneumonia, and he has a herniated disk.

The release of Gambaryan was a result of “less confrontational” conversations between the US and Nigerian officials, the newspaper said.

Antony Blinken, US secretary of state, was quoted as saying that the release of Gambaryan is an outcome of the commitment of both countries to work together.

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