It’s Not A Sin To Borrow – Buhari’s Aide, Garba Shehu
President Muhammadu Buhari’s Senior Special Assistant on Media, Garba Shehu, while speaking with journalists at the weekend in Abuja, also said that it was not wrong for the federal government to borrow more money to finance infrastructure in the country. “It is not a scandal to borrow, the bad thing about borrowing is when you deployed it to your pocket....
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...
ONNE FREE ZONE REMAINS TOAST OF INVESTORS — OGFZA
RIVERS - The Oil and Gas Free Zones Authority (OGFZA) has described its flagship Free Zone in Onne, Rivers State, as the toast of the global investing community and first port of call for those seeking opportunities for good return on investment in oil and gas related businesses. The Acting Managing Director of OGFZA, Mr Adekunle Ajayi, made the remark...
New approach to taxation pushes A’Ibom IGR to all-time high of N24.8billion in 2019
Abasifreke Effiong Akwa Ibom state has moved from 16th position on the Internally Generated Revenue (IGR) rating table in 2015 to number six (6) on the table in 2019, going by the latest rating released by the Joint Tax Board (JTB). The state's IGR reached an all-time high of N24.8billion within eight months, January to August 2019. This amount represents...
Buhari names Soludo, Rewane, Salami in new economic team
President Muhammadu Buhari has named an Economic Advisory Council, EAC. The Council replaces the Economic Management Team that was chaired by the Vice President, Prof Yemi Osinbajo. The new EAC Buhari named on Monday has Prof Doyin Salami as the Chairman. Other members are Dr. Mohammed Sagagi (Vice-Chairman); Prof Ode Ojowu; Dr Shehu Yahaya; Dr Iyabo Masha; Prof Chukwuma Soludo;...
World Bank blacklists CCECC, five other Chinese firms operating in Nigeria
The World Bank has blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption. The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited. Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering...
Enugu banker gets N200m bail in fraud allegation
An Enugu State High Court, Friday, granted bail worth N200 Million to Oliver Anidiobi, a banker who was accused of fraud. Anidiobi is facing trial before the court on 32 count charges of forgery and stealing, slammed against him by the Economic and Financial Crimes Commission (EFCC). He was earlier arraigned by EFCC on May 7 this year and was remanded...
Saraki warns NBC over court order on AIT, Ray Power FM
Senate President, Dr. Abubakar Bukola Saraki, has called on the National Broadcasting Corporation (NBC), to immediately obey the court order granted by the Federal High Court in Abuja, which called for the maintenance of status quo as of May 31, 2019, pending the determination of a motion filed by DAAR Communications PLC, owners of Raypower Radio and African Independent...
