BUSINESS
Minimum Wage: FG Sets Up 37-Member Tripartite Committee
The Federal Government on Tuesday inaugurated the 37-man Tripartite Committee on National Minimum Wage. The committee is to recommend a new National Minimum Wage for the country. Vice President Kashim Shettima who inaugurated the committee at the Council Chamber of the Presidential Villa Abuja, charged to them to ensure the timely submission of their recommendations. The Committee chaired by the former Head...
Hadi Sirika’s Nigeria Air Deal Under Investigation By EFCC — Keyamo
The Economic and Financial Crimes Commission (EFCC) is investigating the controversial Nigeria Air deal sealed by the Federal Government during the tenure of ex-Aviation Minister, Hadi Sirika. “The EFCC is investigating that deal,” the Minister of Aviation and Aerospace Development, Festus Keyamo, revealed on Channels Television’s Politics Today programme on Wednesday. He said “there is a criminal investigation going on. I...
Abuja Bureau De Change Operators Shut Operations As Dollar Scarcity Worsens
Bureau De Change operators have announced shut down of operations in Abuja as a result of unavailability of dollars, reports the Daily Trust This was announced by the association’s Chairman, Abdulahi Dauran, on Wednesday. The naira closed at an all-time low of N1,482 against the United States dollar on the official window on Tuesday while on the parallel market, it remained...
Miners Owing FG N2tn, Says Minister
The Minister of Solid Minerals Development, Dele Alake, has disclosed that miners and operators owe the federal government more than N2 trillion. He however noted that in Kaduna State, over N300 billion is owed. Speaking yesterday in Kaduna during a meeting with Licensed Minerals Holders, Laterite/Sand Operators Dealers, the minister who was represented by the Acting Zonal Mines Officer, North-West Zonal...
Fake News: No Plans To Convert $30bn Domiciliary Deposits To Naira – CBN
The Central Bank of Nigeria (CBN) has denied planning to convert $30bn domiciliary deposits to naira. There had been reports that in a bid to rescue the naira, the Federal Government and the CBN were considering converting domiciliary accounts to naira. But the CBN debunked these ‘fake news’ on its official X page. Details shortly…
CBN Headquarters Overcrowded, Cardoso Defends Relocation Of Some Departments To Lagos
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has defended the apex bank’s decision to relocate some of its departments to Lagos. Cardoso spoke Monday in an interview with Arise TV. According to him, the relocation would help to decongest the headquarters of the bank in Abuja. He expressed his dissatisfaction with the criticisms of the plan by some Nigerians. The...
Customs Launches New Platform To Increase Trade
Determined to ensure trade facilitation, the Nigeria Customs Service, on Thursday, launched its Trade Release Study. Speaking during the launch in Ikeja, the Comptroller General of Customs, Adewale Adeniyi, said that the country joined other custom administrations in the world to embrace the tools developed by the World Customs Organisation. Addniyi said that the WCO remains steadfast in its commitment to...
Online Registration Now Mandatory For Regulated Port Service Providers/Users – NSC
The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Pius Akutah, has announced that all service providers and users are required to register and obtain certification to be recognized as legal operators in all the seaports in Nigeria. The CEO of NSC made the call in Calabar on Thursday, February 9, at the launch of the User Guide...
NUPRC Explains Transfer Of 200 Staff To Lagos
The Nigerian Upstream Regulatory Commission (NUPRC) has said it transferred 200 of its staff to Lagos in the interest of the nation. The Chief Executive of NUPRC, Engineer Gbenga Komolafe said the motive conveyed in a report of the transfer by Daily Trust could not be substantiated. Komolafe said: “It’s not a decision that was taken out of ill-motives or bad...
FCCPC Seals Abuja Sahad Stores Over Pricing
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Sahad Stores Supermarket in Abuja for price gouging. Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair The store was sealed during an enforcement exercise at Garki 2 in the nation’s capital on Friday. The...
