Former Governor of Kogi State Yahaya Bello has honoured the invitation of the Economic and Financial Crimes Commission (EFCC) after months of back-and-forth and an attempt by the agency to arrest him. A statement by the Director, Yahaya Bello Media Office, Ohiare Michael on Wednesday, said Bello has honoured the …
Read More »Presidency Denies Insinuation That Tinubu Ask CBN Gov To Resign
President Bola Tinubu has not asked Yemi Cardoso to resign from his position as the Governor of the Central Bank of Nigeria (CBN). This is according to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who debunked reports (not Chanels Television) suggesting that Tinubu ordered Cardoso’s …
Read More »NERC Wields Big Stick, Fines Abuja Disco ₦1.69bn For Overbilling Customers
The Nigerian Electricity Regulatory Commission has imposed a fine of ₦1.69bn on Abuja Electricity Distribution Company (AEDC) for overbilling customers. According to NERC, the fine is based on AEDC’s non-compliance with the commission’s previous order on capping estimated billing for electricity consumers. The penalty was contained in documented ‘Order NERC/2024/114’ …
Read More »President Tinubu Approves N108bn For States To Tackle Flood, Erosion
President Bola Tinubu has approved N108 billion for the 36 states of the federation to tackle flooding and other natural disaster. This was disclosed on Wednesday by Vice President Kashim Shettima at the State House in Abuja, the nation’s capital. Receiving the Speaker of the House of Representatives Speaker Abbas …
Read More »30-Day Deadline: CBN Directs Service Providers To Commence PoS Transaction Tracking
The Central Bank of Nigeria (CBN) has directed payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed a 30-day deadline to PSPs to regularise with …
Read More »Nigerians Convicted Of Corruption Should Not Benefit From State Pardon – Fagbemi
The Minister of Justice, Lateef Fagbemi, has said those who have been prosecuted and convicted for corruption should not enjoy state pardon. Speaking in Abuja on Monday at a roundtable organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for state commissioners for justice, Fagbemi said he …
Read More »Company Income Tax Revenue Rises By 151% In Q2 2024 — NBS
Nigeria’s Company Income Tax (CIT) surged by 150.83 per cent to ₦2.47tn in Q2 of 2024. A report by the National Bureau of Statistics said the increase was from ₦984.61bn recorded in Q1 2024. On a year-on-year basis, the CIT went up by 59.52 per cent from ₦1.55tn in Q2 …
Read More »Wale Edun Allays Fear, Says VAT Remains 7. 5%
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday, debunked reports doing the rounds that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 per cent from 7.5 per cent. The Minister, in a statement signed by him, affirmed that the VAT …
Read More »Elon Musk: projected to be first global trillionaire by 2027
Elon Musk is on pace to become the world’s first trillionaire by 2027, according to a new report from a group that tracks wealth. Informa Connect Academy’s finding about the boss of electric carmaker Tesla, private rocket company SpaceX and social media platform X (formerly Twitter) stems from the fact …
Read More »‘Reverse Fintech’s N50 Transfer Levy’, NANS Tells Economic Managers
The Senate Clerk of the National Association of Nigerian Students, National Headquarters, Oladimeji Uthman, has called on economic managers to reverse the newly introduced electronic money charged by Fintechs. In a statement signed by Uthman on Sunday, he voiced strong opposition to the new policy, which mandates a N50 deduction …
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