BUSINESS
Nigeria to export rice in two years – Minister of Agriculture
The closure of Nigeria’s land borders has caused an increase in domestic production of rice and the country is set to export the commodity, the Minister of Agriculture and Rural Development, Sabo Nanono, announced on Tuesday. Nanono said the closure of the land borders had resulted in increased output by many rice milling plants which were operating below capacities before...
No Plan To Introduce New Taxes In 2021- FG
The federal government says it has no plan to introduce new taxes or increase current taxes in 2021. Zainab Ahmed, minister of finance, budget and national planning, disclosed this on Friday, at a public hearing organised by the house of representatives committee on finance in Abuja. The minister said rather than increase taxes, it is making efforts to reduce tax burden...
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...
POS Operators Announce New Service Charges, N20,000 Withdrawal Now Attracts N800 Fee
A group of Point of Sales operators in Nigeria have protested against the increased service charges in the country which took effect on Monday. The Association of Mobile Money and Bank Agents in Nigeria announced new service charges for operators in June. The association had said the increase in service charges was to ensure Point of Sale operators survive. With the implementation...
CBN Under Pressure To Extend Jan. 31 Deadline For Use Of Old Naira Notes
There has been an increased pressure on the Central Bank of Nigeria (CBN) to extend the January 31 dateline for phasing out old N1,000, N500, and N200 notes. Relevant stakeholders are also saying the deadline is not possible because the new notes are nowhere to be found. Governor Abdullahi Umar Ganduje of Kano State, the Northern Elders Forum (NEF), and...
Zamfara State Govt Says It Did Not Borrow N14bn
The Zamfara State Government has clarified that the reported sum of N14.26 billion was not obtained through a loan but part of the proceeds from a N20 billion bond initiated by the previous administration in the state. It said the current administration of Governor Dauda Lawal has not taken any domestic or external loan since assuming office. Sulaiman Bala Idris, the...
All About Masters Energy Group
Masters Energy Group, celebrating 18 years of impactful business operations in Nigeria, has become a transformative force in the country's economic landscape. Since its establishment in 2005, through the vision and foresight of renowned businessman and philanthropist Dr. Uchechukwu Samson Ogah, Masters Energy Group has made significant strides, touched the lives of millions of households, and contributed to Nigeria's gross...
Naira Redesign: Nigerians Will Fill Uncountable Forms To Withdraw Large Amounts – CBN Governor, Emefiele
Godwin Emefiele, the Governor of the Central Bank of Nigeria, CBN has said the apex bank will henceforth take cashless policy seriously, noting that people will fill countless forms and provide their data before they can withdraw large amounts. Emefiele also said the redesign of the N200, N500, and N1,000 notes was not targeted at any individual or group of...
Omoniyi Bows Out As ANAN FCT 1 Chairman
After two years of fruitful sojourn as the chairman of Association of National Accountants of Nigeria, ANAN FCT 1 Abuja branch, Wahab Shina Omoniyi on Saturday officially took his exit. He handed over mantle of leadership to his successor, Shavah Elisha Andrew who emerged through a virtual electioneering exercise at Merit House Maitama Abuja. Elected at the peak of COVID-19 in...
Buhari Presents N20.5 Trillion 2023 Budget To National Assembly
President Muhammadu Buhari has put the total budget estimate for 2023 at N20.5 trillion. Out of this, the government is budgeting about N6 trillion for debt servicing in 2023. He however said that the 2023 proposals reflect the serious challenges facing the country. He said the policy of government is designed to ensure strategic thinking in government performance in 2023. The President said...
