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Lagos airport Customs command generates N2.9bn in 10 days
The Murtala Mohammed Airport Command of the Nigeria Customs Service said it recorded exceptional revenue generation in the first 10 days of this year. In a statement by the Customs Area Controller, Shoboiki Jane, it said the!-->!-->!-->!-->!-->!-->!-->…
Globacom subscribers base rises to 45.2 million
Nigerian telecommunication multinational, Globacom Nigeria Limited has grown its subscribers’ base from 43,237,188 in November 2018 to 45,255,297, representing 26.24 percent of the total telecom subscribers in the country. This!-->!-->!-->!-->!-->!-->!-->…
Dangote hails road construction executive order; says impact will be ‘huge’
Business mogul, Aliko Dangote, says the Executive Order 007 signed by President Muhammadu Buhari on Friday will make businesses run smoothly and more profitably. Africa’s richest man also said the new order, tagged Road!-->!-->!-->!-->!-->!-->!-->…
On N30,000 We Stand, Says NLC
The Nigeria Labour Congress (NLC) has stressed that it would not accept the N27,000 minimum wage agreed upon by the Council of State. The Nigerian government had also proposed the N27,000 figure as national minimum wage,!-->!-->!-->!-->!-->!-->!-->…
FAAC disburses N8.03 trillion to federal government, states in 2018
The Federation Account Allocation Committee (FAAC) says it disbursed a sum of N8.03 trillion to the Federal and State Governments in 2018. Figures obtained from the National Bureau of Statistics, NBS, on Friday showed that FAAC!-->!-->!-->!-->!-->!-->!-->…
3million Naira Cash Prize, Exotic SUV, $70,000 Up For Grabs At The Nigeria Beauty Pageant 2019
Top dignitaries from around Lagos, Nigeria, and Africa will converge in Ikeja, the State Capital, during the Grand Finale of Miss Inspire Nigeria beauty Pageant, slated to hold on March 2, 2019.Speaking with the Project Director!-->!-->!-->!-->!-->…
Go to n’assembly, says FG to those opposing N27k minimum wage
The federal government says the N30,000 figure proposed by the tripartite committee for the new national minimum wage is a mere recommendation to the president. In a statement on Friday Illiya Rhoda, an assistant director in the!-->!-->!-->!-->!-->!-->!-->…
‘Yes’ – Okonjo-Iweala ‘ready’ to be first female president of the World Bank in 74…
Ngozi Okonjo-Iweala, two-time finance minister and former vice-president of the World Bank, says she is ready to lead the World Bank if nominated for the job. Speaking on the sidelines of the World Economic Forum in Davos,!-->!-->!-->!-->!-->!-->!-->!-->…
500,000 maize farmers to participate in anchor borrowers’ programme in 2019 – MAAN
The Maize Association of Nigeria says it will involve no fewer than 500,000 of its members in the Central Bank of Nigeria’s Anchor Borrowers’ Programme in 2019. The National President of MAAN, Alhaji Bello Abubakar, told the!-->!-->!-->!-->!-->!-->!-->…
Federal government gives IOCs 14 days to pay outstanding revenue on contracts
The federal government has given International Oil Companies (IOCs) operating in Nigeria’s deep offshore and inland basin a 14-day ultimatum to pay all outstanding revenues on Production Sharing Contracts (PSCs). The government!-->!-->!-->!-->!-->!-->!-->…
Telecom launches tax collection platform
Digital Afrique Telecom (DAT), currently operating in over 20 countries in Africa, has launched Tax Collect, an interoperable platform for collecting municipal taxes. This multi-channel payment gateway allows taxpaying customers!-->!-->!-->!-->!-->!-->!-->…
Federal government to auction N150 billion bonds on January 30
The Debt Management Office (DMO) says the Federal Government is to auction by subscription N150 billion worth of bonds on Jan. 30. The DMO said in a circular on its website on Wednesday in Abuja, that the five-year re-opening!-->!-->!-->!-->!-->!-->!-->…
Oil prices rise over turmoil in Venezuela
Oil prices rose by more than one percent on Friday as turmoil in Venezuela triggered concerns that its oil exports could soon be disrupted. Washington on Thursday signalled it could impose sanctions on Venezuela’s crude exports!-->!-->!-->!-->!-->!-->!-->…
Access shifts Diamond takeover to April
Access Bank Plc, which plans to buy Diamond Bank Plc, said it will conclude the transaction about two months earlier than initially expected. The deal, which was set to close in June, will be completed in the second quarter,!-->!-->!-->!-->!-->!-->!-->…
Renault boss Carlos Ghosn has resigned – French minister
Embattled Renault boss Carlos Ghosn has resigned, France’s economy minister has said ahead of a board meeting at which the French car maker is to appoint his successors. A senior director from the firm “received last night the!-->!-->!-->!-->!-->!-->!-->…
FULL LIST: Sokoto, Oyo, Enugu… here are the 23 states not contributing pension for their workers
A new report by the National Pension Commission has shown that only 12 states of the federation have been remitting contributions into the retirement savings accounts (RSA) of their workers. According to the third quarter!-->!-->!-->!-->!-->!-->!-->!-->…
Likely monetary policy rates retention in future reasonable – Pat Utomi
An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy. Utomi told the News Agency of Nigeria on!-->!-->!-->!-->!-->!-->!-->…
Government concessions Warri Port, gets in N36.4 billion
Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman The Federal Government has concessioned the Terminal ‘B’ Warri Old Port, in Delta State, to Ocean & Cargo Terminal Services Limited, in a bid to increase!-->!-->!-->!-->!-->…
FG To Increase VAT – Finance Minister, Zainab Ahmed
Mrs Zaniab Ahmed Minister of Finance Minister of Finance, Mrs Zainab Ahmed, says the Federal Government will increase the Value Added Tax on some items in the course of the year. Some of the items according to her, will include!-->!-->!-->!-->!-->!-->!-->…
The Marijuana Billionaire Who Doesn’t Smoke Weed
GROWTH INDUSTRY: CEO Brendan Kenned with marijuana 'tissue culture clones' at a Tilray’s Nanaimo headquarters. Photograph by Spencer Lowell for Fortune It’s just after 6, on a pitch-dark morning in December, and Brendan Kennedy is!-->!-->!-->…
Dangote refinery to generate $11 billion per annum
Aliko Dangote, the President of Dangote Group, has disclosed that Dangote Petroleum Refinery will create $11 billion per annum market for Nigerian crude. The Africa’s richest man said the Nigerian crude was specifically designed!-->!-->!-->!-->!-->!-->!-->…
AMCON seeks buyers for Polaris Bank
The Asset Management Corporation of Nigeria (AMCON) is seeking new investors to take over nationalised lender, Polaris Bank after elections next month. It is also taking stock of the bank’s assets ahead of the sale, its!-->!-->!-->!-->!-->…
$200m Scandal: Reps declines to reinstate contract of Atiku’s Intels
The House of Representatives on Tuesday rejected the recommendation of its committee that the Nigerian Ports Authority (NPA) reinstates its contract with Intels, a logistics maritime operator. The House said the company which!-->!-->!-->!-->!-->!-->!-->…
No dollars to import rice, cement, chicken, others, CBN insists
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Tuesday said the bank’s policy to restrict importers of some 42 items from accessing foreign exchange was the right call of action. Emefiele made this known in!-->!-->!-->!-->!-->!-->!-->…