BUSINESS
FIRS Generated N10.04trn In 2022, Says Official
The Tax Controller, Enugu Medium and Small Tax Office of the Federal Inland Revenue Services (FIRS), Mrs Stella Obiora, says the organisation generated N10.04 trillion in 2022. Obiora, represented by the Executive Chairman of the agency, Mr Muhammed Nami, stated this in Enugu on Friday during their special day at the ongoing 34th Enugu InternatiTrade Fair. She said the management of...
Relief As Air Peace Commences Direct Flight To India
West and Central Africa’s leading airline, Air Peace, has launched direct, nonstop flight services to Mumbai, the capital city of Maharashtra State in Southwestern India. The airline is starting with two weekly flight frequencies to Mumbai, with plans to commence Delhi operations as soon as the Mumbai service garners significant momentum. This direct, nonstop Mumbai service is a respite to Nigerians...
Free Internet In Airports, Varsities, Markets To Gulp N24.2bn
The Federal Executive Council yesterday approved two contracts worth N24.20bn for provision of broadband for free internet in 75 public places, including 20 airports, tertiary institutions and markets nationwide to support micro, small and medium enterprises. The Minister of Communications and Digital Economy, Isa Ali Pantami, said the projects would be implemented by the Nigerian Communications Commission. He said the selected...
CBN Confirms Evacuation Of Banknotes To DMBs
The Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a concerted effort to ease the circulation of different denominations of banknotes. The CBN has also instructed that all commercial banks be open on Saturdays and Sundays. Dr. Isa AbdulMumin, Acting Director, Corporate Communications Department of the...
Banks To Receive Old Naira Notes From CBN Today
The Central Bank of Nigeria (CBN) has instructed commercial banks to immediately collect the old naira notes they deposited in its branches to ease the cash crunch across the country. Recall that the apex bank had mopped up the old N1, 000, N500 and N200 notes in response to the introduction of new ones as part of the cashless policy...
Naira Notes Scarcity: Poultry Farmers Say Members Lost 15m Crates Of Egg Worth N15bn
The Poultry Farmers Association of Nigeria said its members lost more than N30 billion worth of over 15 million crates of eggs due to the effect of naira scarcity in the country. The National President of PAN, Sunday Onallo-Akpa, made this known on Friday in a statement in Abuja. “The poultry farmers in the country have lost over 15 million crates...
Ghana Announces Removal Of Subsidy On Petroleum
The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country. The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector. The Chief Executive Officer of NPA, Abdul Hamid, said this during a presentation at the ongoing Africa Refiners and Distributers week 2023, in Cape Town, South Africa. Hamid...
CBN Breaks Silence, Says Old Naira Notes Remain Legal Tender Till Dec 31st
The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and...
Finally, CBN Orders Banks To Pay, Receive Old Naira Notes
Prof Charles Soludo, Governor of Anambra State, announced on Monday that the Central Bank of Nigeria, CBN has directed commercial banks to accept and disburse old naira notes as deposits. According to ABN TV, Soludo, a former CBN governor, stated this in a statement posted on his social media accounts. He explained that the decision was issued by CBN Governor Godwin...
NSCDC Vows Clampdown On Fake Naira Notes Syndicates, Cautions Nigerians
The Nigeria Security and Civil Defence Corps (NSCDC) says it will continue to arrest and prosecute those involved in the production and circulation of fake redesigned Naira notes. The Commandant-General of the corps, Ahmed Audi, told the News Agency of Nigeria (NAN) on Sunday that the number of cases of circulation of fake Naira notes had become worrisome. He warned perpetrators...
