BUSINESS
NNPC Apologises To Nigerians Over Pains Caused By Contaminated Fuel
Nigerian National Petroleum Company Limited has said it regrets the hardships it caused Nigerians by the importation of off-spec Premium Motor Spirit, known as petrol. The Group Managing Director of t...
Dangote’s Refinery Is Game-Changer For Nigeria, Africa – Akinwumi Adesina
President of the African Development Bank (AfDB) Akinwumi Adesina has described the Dangote Refinery and Petrochemical Plant projects as a “game-changing initiative” that will spur development and deepen regional integration. Adesina said this after a tour of the crude oil refinery and petrochemical production plant owned by Dangote Industries Limited on Saturday. “I was very impressed with Dangote’s refinery and petrochemical...
Tinubu Appoints Adedeji Acting Chairman Of FIRS
President Bola Tinubu has appointed Zacch Adedeji as the acting chairman of the Federal Inland Revenue Services (FIRS). Until his recent appointment, Adedeji was formerly the special adviser to Tinubu on revenue. He was a former Commissioner of Finance during the administration of later Governor of Oyo State, Abiola Ajimobi. Adedeji, a certified accountant who hails from the Iwo-Ate area of Ogo-Oluwa...
Nigeria Will Exit Recession By First Quarter Of 2021 – Finance Minister
Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, said the country will exit recession by the first quarter of 2021. Ahmed spoke about the current recession in the country at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning. Nigeria, on Saturday, entered...
Private Employers Paying Less Than N70,000 Risk Jail Term, FG Warns
The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated. According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should be paid less than the...
CBN Announces Operational Changes To FX Market
The Central Bank of Nigeria (CBN) would like to notify all authorized dealers and the general public of the following urgent modifications to operations in the Nigerian Foreign Exchange (FX) Market. Segmentation is being phased out. The Investors and Exporters (1&E) window now contains all segments. Medicals, school fees, BTA/PTA, and SME applications would continue to be processed through deposit...
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...
Fresh Facts Emerge On Why CBN Extended Deadline For Use Of Old Naira Notes
President Muhammadu Buhari on Sunday, in Daura, approved the Central Bank of Nigeria’s request to extend the deadline for swapping of old naira notes with the redesigned notes from January 31, 2023, to February 10 2023. Buhari also approved a seven-day grace period which runs from February 10 to February 17 2023, to allow Nigerians to deposit their old notes...
CBN To Redesign N200, N500 And N1,000 Notes To Control Circulation
The Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N200, N500, and N1,000 notes. CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. The new design and issues will be effective from December 15, 2022. The action was taken in order to take control of the currency in circulation, according to the CBN...
Abia Inland Revenue Agency Bars Erondu From Collecting Unified Emblem Levies
The Abia State Internal Revenue Service has barred Elder Azubuike Ihuoma Erondu, from collecting revenues accrued from Unified Emblem levies. This is contained in a letter dated June 23, 2022, signed by the Acting Chairman/Chief Executive of the Serv...
