BUSINESS
CBN, NTA, Others Return Over N1tr To Government
Nigeria’s independent revenue crossed the N1 trillion mark in 2021, ABN TV learnt on Wednesday. Minister of Finance Budget and National Planning Mrs Zainab Ahmed stated this at the public presentation of the 2022 Appropriation Act. Independent revenues are generated by the Federal Government from agencies captured under the Fiscal Responsibility Act. They include the Central Bank of Nigeria (CBN), the Nigeria...
President Buhari Signs 2022 Appropriations Bill Of N17.127trn Into Law
President Muhammadu Buhari is currently signing the 2023 Appropriations Bill of N17.126 trillion into law. The signing ceremony is taking place at the Council Chambers, Presidential Villa, Abuja. Present at Council Chamber to witness the ceremony are the President of Senate, Dr Ahmad Lawan, the Speaker, Rt. Hon. Femi Gbajabiamila, and the Minister of Finance, Budget and National Planning, Mrs. Zainab...
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...
FG Expresses Sadness Over Next Cash N Carry Fire, Pledges Support
THE federal government, Wednesday, described last Sunday’s fire incident at Next Cash & Carry, Abuja, which described goods worth several billions of naira as a sad development to the country. The government which sympathised with the management of the business organisation pledged its readiness to offer possible assistance towards its resuscitation. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya...
Customers’ Complaints Arose More On Electricity, Banking, Followed By Aviation And Telecommunication In 2021 — FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) says electricity has again topped its 2021 consumer-related complaints chart just like in 2020. The Chief Executive Officer of the Commission, Mr Babatunde Irukera, told newsmen in Abuja on Sunday that banking-related complaints were second on the chart. Irukera explained that aviation and telecommunication related complaints followed the chart. He said that the commission...
Arik Sacks 10 Pilots Who Protested Pay Disparity, Welfare With Foreign Colleagues
The management of Arik Air has dismissed at least 10 of its pilots for embarking on industrial action without due notice. The Guardian learnt that the aggrieved pilots began strike this week in protest against protracted wage disparity between expatriate and Nigerian pilots that has still not been resolved by Arik Air. The management, in a memo, yesterday, described the protest...
Nigeria Got Nothing In Second Quarter 2021 For Giving Togo, Benin Republic, Niger Power — NERC
The Nigerian Electricity Regulatory Commission (NERC) has said that three neighbouring countries did not make any payment for the second quarter of 2021. In its recently released Second Quarter Report 2021, the NERC revealed that the countries (Togo, Benin Republic, and Niger) and some other special customers were issued a total bill of N770m by the Nigerian Bulk Electricity Trading...
48.6% Of Electricity In Nigeria Supplied From Generators — NBS
Generators powered by petrol, diesel and gas provide 48.6 per cent of the electricity consumed by power users across the country, according to the latest data obtained from the National Bureau of Statistics. A document by the NBS on Power Sector Data Preview, which was presented to the Abuja Chamber of Commerce and Industry this month and obtained on Friday,...
Gov. Ikpeazu Launches ‘Easy-Credit’ To Grant Abia Traders, Artisans Access To Funding
As part of efforts to boost small and medium sized businesses in Abia as well as stimulating economic growth, the State governor, Okezie Ikpeazu has unveiled Easy-Credit, a product of the Abia SME Microfinance Bank Limited. The product seeks to provide access to funding to Mico SMEs, particularly Traders, Artisan, and Enterprenus at single digit interest rates . At the product...
AEDC New Board, Interim Management Team Assume Office
The new board and interim management of Abuja Electricity Distribution Company has assumed office. The board is made up of Victor Osadolor as Chairman. Osadolor is currently Chairman of UBA Pensions, a non-executive director of African Finance Corporation (AFC), and former deputy managing director of the United Bank for Africa (UBA). He is a seasoned finance and business turnaround expert with over...
