BUSINESS
FG Appoints Managers To Lead $10bn Global Investment Fund
Twenty-three fund managers have been appointed by the Federal Government of Nigeria to lead the $10 billion Nigeria Global Investment Fund. A transformative initiative aimed at channeling both international and local investments into the nation’s key economic sectors, including agriculture, manufacturing, energy, infrastructure, and fintech. According to a presentation document obtained by Nairametrics, the NGIF is a cornerstone of Nigeria’s broader...
We Generated The Highest Revenue Of N6.4 Trn In 2021 — FIRS
The Federal Inland Revenue Service (FIRS) generated a record N6.4 trillion as revenue in 2021, the highest in its history. Last year's revenue collection exceeded that of 2019 when the agency raked in N5.3 trillion under the administration of Babatunde Fowler. Spokesman to FIRS Chairman, Oluwatobi Wojuola, who disclosed this via a statement issued on Thursday said that despite the limitations...
Nigeria Must End Dependence On Crude Oil – Emefiele
Godwin Emefiele, governor of the Central Bank of Nigeria, says the country must end its dependence on crude oil for revenue and foreign exchange. Emefiele was speaking at the prize presentation ceremony of the 2020 CBN Governor’s Golf Cup tournament on Saturday. NAN reports that he was represented by Edward Adamu, the deputy governor for corporate services. The governor explained that it...
Otti Orders Withdrawal Tax Suit Against MOUAU
The Abia State government has promised to withdraw the suit it instituted against the Michael Okpara University of Agriculture, Umudike, MOUAU, over alleged non-remittance of Pay As You Earn, PAYE, tax, to the state. The state Board of Internal Revenue, BIR, had two years ago, filed a suit against the University over alleged unremitted PAYE tax. Governor Alex Otti, who pledged...
Senate Summons Emefiele To Explain Uncontrolled Fall In Naira Value
The Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to explain the reasons for the rapid depreciation of the value of the naira. It has also mandated its Committee on Banking, Insurance and Other Financi...
Naira Will Become Stronger Again —Adeboye
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, says the naira will regain its strength among the league of currencies. He stated this on Saturday morning during the Church’s annual Holy Ghost Congress held at the RCCG International Headquarters along the Lagos-Ibadan Expressway. GLONAT reports that the 78-year-old cleric prayed to God to intervene in Nigeria’s...
CBN Sets Date To Freeze Accounts Without BVN
The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without Bank Verification Number and National Identification Number effective April 2024. “Post No Debit” is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from their accounts. This measure effectively freezes...
FG Commences Skill Acquisition Training In South-East Zone
The Federal Government has commenced the training of youths and unemployed in the South-East zone, in various Skills as an alternative to white collar jobs. Dr Chris Ngige, the Minister for Labour and Employment, while flagging off the training in Owerri, Imo State capital, noted that Skills education would equip them with self-employment and self-reliant skills that would serve them...
Start registering prostitution as business now – Group begs FG
NON- governmental organisation, NGO, Team of Detecting Agency for Government Reform Initiative, TDAGRI, has advocated registration of prostitution as a business in Nigeria. Leader of the group, Nebeck Eziora, made this proposal in a statement entitled Nigeria in the Era of New Political Invention, stressing that prostitution should be recognised and registered as a business for it to serve as...
NNPCL Reveals Why Pump Price Increased To N617/litre
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, has attributed the rise in petrol pump prices in Nigeria to market forces. This follows a recent price increase from N540 to N617 per litre, which he said reflects the dynamics of a market-regulated pricing model. Addressing journalists after a closed-door meeting with Vice President Kashim...
