CBN Slashes Banks’ ATM Withdrawal Fee
The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35. The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month. The new directive is part of the major highlights of the new Guide to Bank Charges...
Emirati Minister Insists It’ll Be Unreasonable To Retain Air Peace Slots At Sharjah Airport After Nigeria-UAE Row
Amid the ongoing diplomatic fireworks between Nigeria and the United Arab Emirates, the Emirati Minister of Economy, Abdulla Bin Touq Al Marri, has said that it is unreasonable for the Arab nation to retain the slots of Nigeria-based Air Peace airline at the Sharjah International Airport. The minister, who is also the chairman of the General Civil Aviation Authority in...
Shell Sells Stake In Nigerian Oil Block For $533m
The Shell Petroleum Development Company of Nigeria Limited has announced the completion of the sale of its 30 percent interest in Oil Mining Lease 17 in the Eastern Niger Delta and associated infrastructure to TNOG Oil and Gas Limited for a consideration of $533m. The oil major said in a statement on Friday that the completion followed the receipt of...
Illegal Pipeline Connection In Abia Costs Nigeria $7.2m Monthly, FG Says
A federal government delegation to the oil-producing areas of Nigeria has discovered numerous illegal pipeline connections robbing Nigeria of millions of dollars in revenue. The team noted that a particular pipeline in Owaza in Abia state has been damaged by oil thieves, causing a revenue loss of $7.2 million dollars per month. The delegation, that visited the Niger Delta region at...
Nasarawa Governor, Abdullahi Sule Expresses Shock Over Reduction In Naira Value
Governor Abdullahi Sule of Nasarawa State has expressed shock over the continued fall in value of naira against the dollar. He, however, hoped the situation would be reversed soon. The governor, who spoke in an interview on Channels Television’s ”Politics Today” programme on Wednesday night, said he was extremely worried over the move of the Central bank of Nigeria, CBN, to...
South African President Ramaphosa Appoints Okonjo-Iweala Head Economic Advisory Council
South Africa's President Cyril Ramaphosa has reportedly appointed Dr. Ngozi Okonjo-Iweala as the Head of the country’s Economic Advisory Council. ABN TV reports that South Africa entered its second recession in two years in the final quarter of last year as agriculture, transport and construction contracted, data showed on Tuesday, highlighting the impact of power cuts on the nation’s economy. Statistics...
NDDC Audit: We’ll Recover Every Missing Fund, Culpable Person’ll Face Law, Buhari Vows
President Muhammadu Buhari Thursday in Abuja said the concluded forensic audit of the Niger Delta Development Commission (NDDC) was being reviewed, with a view to recovering every kobo that is recoverable, while those found culpable will face the law. Speaking at the virtual commissioning of the NDDC Prototype Hostel at the University of Uyo, Akwa Ibom State, the President in...
MDAs Failed To Remit N1.2 Trillion – Fiscal Commission Says
The non-remittance of revenue by most ministries, departments and agencies of government to the Consolidated Revenue Funds of the Federal Government is currently N1.2tn, the Fiscal Responsibility Commission said on Monday. Fiscal Responsibility Commission is responsible for mobilising funds from government-owned organisations through the payment of operating surplus to finance the government’s budget. The Acting Chairman of FRC, Victor Muruako, said...
APC Lawmaker Says Reps Will Investigate Tinubu Over Trillions Of Naira From Fuel Subsidy Removal
A member of the House of Representatives, Hon. Yusuf Gagdi, has vowed to ask President Bola Tinubu, what he did with the trillions of naira saved from the removal of fuel subsidy. The lawmaker and chieftain of the ruling All Progressives Congress (APC), who chairs the House Committee on Navy, said that he supported the removal of fuel subsidy but...
Reps Moves Legalise Use Of Indian Hemp, Cites Economic Benefits
The House Of Representatives is set to legalise the use of Indian Hemp in the country for economic benefit. Spokesperson of the House of Representatives, Hon. Benjamin Kalu said this during a press conference on the benefits and opportunities of Cannabis in Akure, Ondo state capital Kalu said that the House of Representatives has concluded an arrangement to organize a two-day...
