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Economy
CBN denies non remittance of 80% operational surpluses
The Central Bank of Nigeria (CBN) has denied the allegation that it failed to remit 80 per cent of its operational surpluses into the Consolidated Revenue in the last five years.Dr Kingsley Obiora, CBN Deputy Governor in charge of…
SON To Establish Regional Office In Kano – DG
The Standards Organization of Nigeria (SON) says it will soon establish a regional office in Kano.Malam Faruk Salim, Director General of SON, made the disclosure on Thursday during the formal handing over of the project site to the…
Reps Warn Govt Agencies Against Budget “Recycling”
The House of Representatives on Thursday in Abuja warned government agencies against budget recycling.Rep James Faleke, Chairman, House Committee on Finance, gave the warning at the end of the first session of the Medium Term…
Tribunal Didn’t Compel Us To Pay N900bn To FIRS As Backlog – Multichoice
MultiChoice Nigeria on Wednesday said that MultiChoice Nigeria did not compel it to make a payment of 50% of N1.8 trillion, which is N900 billion to the Federal Inland Revenue Service (FIRS).Director, Communications and Liaison…
Tax Evasion: Tribunal Orders DSTV To Pay FG N900bn Tax Backlog
A Tax Appeal Tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited, owners of cable television services, DSTV, to pay 50 percent of N1.8 trillion tax backlog to the Federal Inland Revenue Service (FIRS).Mr Abdullahi…
Osinbajo inaugurates ultra-modern Anambra shoe cluster
Vice President Yemi Osinbajo on Tuesday inaugurated an ultra-modern industrial shoe-making hub equipped with the modern technology at Nkwelle Ezunaka Village in Anambra.In a speech at the event, Osinbajo described the complex as…
Nigerian Youths Have Become “Jobless, Frustrated And Hopeless” – Jerry Gana
Jerry Gana, a former minister of information on Saturday said that majority of Nigerian youths have become “jobless, frustrated and hopeless” as a result of the harsh economic policies of the current administration.The Former…
FG, states, LGs share N760.7bn for July
The Federation Accounts Allocation Committee (FAAC) has shared N760.717 billion as federation allocation for the month of July.This is contained in a statement by Mr Oshundun Olajide, Deputy Director (Information), Ministry of Finance,…
Prices Of Cooking Gas, Kerosene Increased In July – NBS
The average price for refilling a 5kg cylinder for Liquefied Petroleum Gas, otherwise known as cooking gas, increased to N2,141.59 in July from N2,068.69 in June.The National Bureau of Statistics (NBS) said this in its “Liquefied…
No going back on privatisation of public enterprises in Benue – Ortom
Governor of Benue State, Samuel Ortom says that his administration would not back down on the ongoing privatisation of some moribund government enterprises, in spite of criticisms in some quarters.Ortom told newsmen on Wednesday in…
Despite conservative projection, Nigeria’s revenue generation still underperforming – FG
The Federal Government has said that Nigeria's borrowings continue to rise because of underperformance in revenue generation.Director-General, Debt Management Office (DMO), Patience Oniha disclosed this at a public hearing organised by…
NEITI: Signing PIB into law historic
The Nigeria Extractive Industries Transparency Initiative (NEITI) has described as a historic development, the assent of President Muhammadu Buhari to the Petroleum Industry Bill (PIB).The Executive Secretary of NEITI, Dr Orji Ogbonnaya…
Nigeria’s unclaimed dividends increase to N170bn – SEC DG
The Securities and Exchange Commission (SEC) on Friday said the total unclaimed dividends in the Nigerian capital market stood at N170 billion as of December 2020.The Director-General, SEC, Mr Lamido Yuguda, said this at the second…
Masari: Solid mineral deposits exploration will create jobs, end insecurity
Governor Aminu Masari of Katsina State has advocated the exploration of solid mineral deposits to create job opportunities and boost the national economy as a panacea to insecurity.Masari made the call in a statement issued by Malam…
Osinbajo: AfDB to support tech-based MSMEs with $500m
Vice President Yemi Osinbajo says the African Development Bank (AfDB) has agreed to support Micro Small and Medium Enterprises (MSMEs), especially technology-based ones with 500 million dollars in Nigeria.Osinbajo disclosed this on…
Customs to MDAs: Only Buhari can import duty-free goods
Only items imported by the President, Commander in Chief of the Federal Republic of Nigeria, are exempted from the payment of duties or taxes, Mr Timi Bomodi, Deputy National Public Relations Officer of the NCS, said in a statement in…
FG engages JP Morgan, others to facilitate fresh $6.2bn borrowing
The Federal Government of Nigeria has appointed eight institutions as transaction advisers for the issuance of Eurobonds by Nigeria in the International Capital Market (ICM).The Debt Management Office (DMO) disclosed this in a press…
NCC sets fresh operational fees, spectrum prices for telecom operators
The Nigerian Communications Commission has set up an annual operating regulatory levy to ensure that all licencees are properly and equitably assessed to meet statutory and regulatory expectations.This was disclosed by Prof. Umar…
JUST IN: CBN Stops Forex Sales To BDCs
The Central Bank of Nigeria (CBN) has stopped the sales of foreign exchange to Bureau De Change (BDC) operators in the country.CBN governor, Godwin Emefiele disclosed this after Tuesday's Monetary Policy Meeting (MPC) in Abuja.…
Why we’re giving loans to Nigeria – Chinese Envoy
Mr Cui Jianchun, Ambassador of the People’s Republic of China to Nigeria, says his country’s loans to Nigeria are of mutual benefit.Jianchun explained that this was because Nigeria and China had a history of good friendship and…
Can you make a living through trading online?
Whether you're interested in cryptocurrency or not, the glamorous lifestyle of successful crypto investors will surely intrigue you for trading cryptocurrency.From buying the most successful crypto to selling it at the highest price on…
Cryptocurrency: Helpful Tips for Beginners In Bitcoin Trading
Who doesn’t want to make profits? Bitcoin’s growth in the last couple of years has resulted in a vast majority of traders shifting towards the crypto world. It is true that there is a lot of potential and everyday traders and investors are…
Dangote Group, highest revenue contributor to solid minerals sector in 2019 – NEITI
Dangote Cement Plc and Dangote Industries Limited are the highest revenue contributors to the country’s Solid Minerals sector in 2019, according to Nigeria Extractive Industries Transparency Initiative (NEITI).The Spokesman for Dangote…
FG’s Infrastructure Company To Commence Operations Q3 – Emefiele
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, said on Tuesday that the Infrastructure Corporation of Nigeria (Infraco) Plc would commence full operation by the third quarter.Emefiele said this at the investors…
Nigeria earned $34bn, lost $2.77bn to crude oil theft in 2019 – NEITI
Nigeria lost 42.25 million barrels of crude oil valued at 2.77 billion dollars to oil theft in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its latest audit report.The report on Oil and Gas was…
Lagos govt invests N103bn to boost MSMEs
The Lagos State Government has invested N103 billion into the provision of infrastructure to provide downstream contracts for Micro, Small and Medium Enterprises (MSMEs), Gov Babajide Sanwo-Olu said on Tuesday.The governor made the…
FIRS engages banks to freeze, recover N1.8trn from 2 Multichoice companies
The Federal Inland Revenue Service (FIRS) has engaged some commercial banks as agents to freeze and recover N1.8 trillion from accounts of Messrs MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA).This is contained in a…
FIRS generates N650bn revenue in June
The Federal Inland Revenue Service (FIRS) says it has generated N650 billion revenue in June.The Director, Communications and Liaison Department, FIRS, Mr Abdullahi Ahmad, disclosed this in a statement in Abuja on Wednesday.Ahmad…
Emefiele pledges better deal for Nigerian SMEs
The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, says the bank will increase its development finance interventions to further support start-ups and Small and Medium Enterprises (SMEs) in the country.Emefiele made the…
We won’t allow rickety trucks into port – NPA
The Nigerian Ports Authority (NPA) has mandated implementation of Minimum Safety Standards (MSS) scheme for trucks.The scheme is anchored on the “Eto” platform.Mr Olaseni Alakija, General Manager Corporate and Strategic…