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FRC issues new reporting guidelines for companies

The Financial Reporting Council of Nigeria (FRC) has issued new reporting guidelines to enable firms respond to prudential considerations in various sectors. In a report on engagement with sectoral regulators, the FRC explained that it has been engaging with regulators on developing sectoral guidelines of corporate governance on specific requirements …

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COVID-19: NNPC recorded N9.53bn trading deficit in March

The Nigerian National Petroleum Corporation (NNPC), on Wednesday, announced a trading deficit of N9.53 billion in its operations for March 2020, representing a sharp decline compared to the N3.95 billion surplus recorded in February 2020. In a statement in Abuja, Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, …

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Inflation increased by 12. 40 percent in May – NBS

The consumer price index, (CPI) which measures inflation increased by 12.40 percent (year-on-year) in May 2020. National Bureau of Statistics (NBS ) made this known on it website on Wednesday. According to its Consumer Price Index May 2020 report, this present figure is 0.06 percent points higher than the rate …

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FG plans to tax Netflix, Facebook, others

The Federal Government plans to tax foreign digital service providers offering services to Nigerians and earning revenue in naira. Some of these service providers which are video streaming sites, social media platforms, and companies that offer downloads of digital contents are expected to pay digital tax to the Federal Inland …

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Buhari Nominates Former Jonathan Minister, Okonjo-Iweala for WTO DG Position

President Muhammadu Buhari has nominated Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala, for the position of Director General.of the World Trade Organisation. The Federal Government had earlier nominated Yonov Frederick Agah, Nigeria’s permanent representative to WTO, for the position. In a Diplomatic Note no 146/2020 by Embassy of Nigeria and …

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BREAKING: Buhari meets AfDB President, Adesina behind closed doors

President Muhammadu Buhari is meeting with embattled President, African Development Bank (AfDB), Dr. Akinwumi Adesina in the Presidential villa. Adesina has been under scrutiny after he was accused of impropriety by the Bank Ethics Committee. Former Presidents Olusegun Obasanjo and Goodluck Jonathan intervened vehemently defended Adesina against the charges. Although, …

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