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Rotten tomatoes line roads in Benin after Nigeria closes border
Nigeria closed its border with Benin on August 20 in an attempt to stop the smuggling of contraband goods, including food and petrol, across the border. This decision by Africa’s leading economic power has…
Boarder closure: Jigawa will soon be leading rice producer – Governor
The Jigawa governor Alhaji Muhammadu Badaru Abubakar has signed a Memorandum of Understanding (MoU) between the state government and the government of Huanan Province…
NNPC seals $2.5bn gas supply deal with NLNG
The Nigerian National Petroleum Corporation (NNPC) has challenged shareholders of the Nigeria Liquefied Natural Gas (NLNG) to work very quickly towards expanding the…
Youths targeted in nex tax drive
NIGERIAN youths have been hinted that they will form a large chunk of the 45 million tax payers by December 2019, a target set by the Federal Inland Revenue Services (FIRS). Tax…
Wike strikes deal with Ethiopia Airlines on permanent flights from Rivers
Rivers State Government and the management of Ethiopian Airlines have reached an agreement in principle for the operation of permanent international flights from the Port…
Federal government alleges cheating on oil profits, seeks $62 billion from five firms
The Federal Government says it expects about $62bn from multinational energy conglomerates that include Royal Dutch Shell, ExxonMobil, Chevron, Total and Eni, citing a 2018…
NERC asks DisCos to disconnect defaulting MDAs
The Nigerian Electricity Regulatory Commission (NERC) has asked electricity distribution companies (DisCos) to disconnect government ministries, departments and agencies (MDAs)…
Cashing in on the cashew nuts boom
Cashew nuts are some of the crops fuelling growth in the agricultural sector. Experts say almost three million tonnes are harvested worldwide yearly. According to Mordor…
IMF endorses VAT increase, says it will cushion declining oil revenue
Amine Mati, a senior resident representative with the International Monetary Fund (IMF) and mission chief for Nigeria, says an increase in value-added tax is a step in the…
Tax evasion: Ex-Super Eagles captain, Okocha settles case with LlRS
A former Super Eagles’ Captain, Augustine “Jay-Jay” Okocha has finally settled his 2017 tax evasion case with the Lagos Internal Revenue Service (LIRS). Lagos State Prosecutor, Mrs.…
Softly, softly, Hameed Ali
Emerging signals make it clear that our nation’s economy is severely imperilled. President Buhari himself decried the inability of the Federal Inland Revenue, the NNPC, and the Nigerian Customs Service to meet…
FG may revoke Abuja, Ikeja, six Discos’ licences
The Federal Government may cancel the licences of eight power distribution companies as the Discos breached some provisions of the Electric Power Sector Reform Act in July 2019.According to the Nigerian Electricity…
Buhari exempts firms with N25m turnover from VAT
Firms making a turnover of N25 million and below will be exempted from payment of the Value Added Tax (VAT), President Muhammadu Buhari said on Tuesday. He stated this while…
No harm in introducing communication tax, Nigerians talk a lot on phone – Fowler
Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says there is no harm in introducing a communication tax. Fowler made this known on Monday while…
Consumption of locally produced food items on the rise as borders remain shut
As good as the enforcement of import substitution and backward integration policy being implemented by the Federal Government appears to be, Nigerians have said the timing is wrong because the prices of foodstuffs,…
HSBC set to axe 10,000 jobs
HSBC is planning to sack up to 10,000 staff, a report by Financial Times said Monday. The planned downsizing comes just weeks after announcing the resignation of its chief…
Nigeria’s border closure hits hard on rice-exporting countries
The closure of Nigeria’s border with Republic of Benin, aimed at curbing smuggling activities, especially of rice, has taken a toll on rice-exporting countries as price dipped…
Cashless policy: Regulators, business community set for nationwide rollout
Baring any last minute disruptions in the implementation guidelines, Nigeria’s cashless Policy piloted by the Central Bank of Nigeria (CBN) would go live nationwide…
CBN says N500bn debit to banks not fine, but refundable
The Central Bank of Nigeria (CBN) has clarified that the N499.1 billion which it debited some banks for failing to meet its 60 percent minimum Loan to Deposit Ratio (LDR) is not a fine but would be refunded…
CBN defends naira with $8.28b forex sales
THE Central Bank of Nigeria (CBN) defended the naira with $8.28 billion through its direct intervention within the first six months of this year, according to its half year report.…
GSM tax: MTN, Glo, Airtel, 9mobile subscribers, others to pay extra N261bn
Telecom subscribers in the country are likely to pay an additional N261.18bn on voice calls, short message service and data in one year if the Senate passes the proposed…
No one deserves to be a billionaire – Mark Zuckerberg
Mark Zuckerberg, US tech entrepreneur and CEO of Facebook, says he doesn’t think billionaires should exist, adding that in reality, “no-one deserves to have that much money”. The…
Nigeria to hold oil licensing rounds in 2020 — 13 years after the last
The Minister of State for Petroleum Resources, Mr. Timipre Sylva, yesterday disclosed that the federal government plans to conduct oil blocks bid rounds in 2020.This comes amid growing concerns about…
Rise of backyard farming
Along with fresh fruits and vegetables, mini livestock, backyard farms are providing jobs, start-up programmes, knowledge and social connections, DANIEL ESSIET…