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The Nigerian Customs Service, on Sunday, said only two banks were deactivated recently by the NCS over their failure to remit duties collected. It also stated that the erring banks had been reported to the stipulated financial authorities, including the Central Bank of Nigeria, adding that discussions by all the parties were ongoing currently.
The 36 states of the federation received about N1.51tn, or 34.5 per cent of the total N4.37tn shared by the three tiers of the government between January and June 2023, the Nigeria Extractive Industries Transparency Initiative, said on Sunday. It disclosed this in its second quarter ‘2023 Federation Account Statutory Revenue Allocations Report’ released in Abuja. The report showed the states received about N817.79bn from the N2.32tn total distributable allocation […]
At least four banks recorded N478bn non-performing loans during the first half of this year, according to their financial results Specifically, Guaranty Trust Bank Holding Plc (GTCO), FBN Holdings Plc and two other banks reported N478.93bn non-performing loans by value in the half-year ended June 2023, an increase of nearly 16 per cent from N413.36bn reported in the full year ended December 31, 2022. The other two banks are FCMB […]
The US Mission launched its fifth edition of the Academy for Women Entrepreneurs in Nigeria, in partnership with Ascend Studios to empower 120 women in business. In a statement, it disclosed that AWE would provide 120 women entrepreneurs with the knowledge, network, and access needed to launch and scale successful businesses. According to the statement, the participants were selected from over 3,000 applicants from all regions of Nigeria, and already […]
G20 leaders began to descend on New Delhi Friday, hoping to make progress on trade, climate and a host of other global problems despite the Chinese and Russian presidents skipping the summit. The G20 was conceived in the throes of the 2008 financial crisis as a way of managing the global economy. But as presidential and prime ministerial jets began landing in the Indian capital, the pointed absence of China’s […]
YouTube has launched a verification system for UK-based doctors, nurses, and other healthcare professionals to help Britons dodge medical misinformation online. UK-based users accounted for more than two billion video views of clips on health conditions in 2021. YouTube added a new seal of approval to accounts run by licensed doctors, nurses, psychologists, and other health practitioners or organisations who have passed stringent verification checks to fight misinformation. YouTube head […]
The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has said the banks’ N120bn Unstructured Supplementary Service Data debt owed telecommunication firms is slowing down financial inclusion. He noted that without the service, digital financial inclusion, which he pegged at 60 to 70 per cent, in the country would not be where it was currently. He said, “The merit of the service is that without it, there […]
The local bourse suffered another day of dip as investors lost N112bn at the close of trading on Thursday. Investors on Wednesday lost N27bn as trading activities slowed as the nation awaited the decision of the Presidential Election Petitions Tribunal. The PEPT affirmed the victory of President Bola Tinubu at the February polls. On Thursday, the market reacted negatively as the amount of loss worsened to N112bn with the market […]
The Nigerian National Petroleum Company Limited is stepping up efforts to combat oil theft in the Niger Delta, as the country’s oil production continues to plummet, writes OPEOLUWANI AKINTAYO In an update on its fight against crude oil theft in the country in July, the Nigerian National Petroleum Company Limited said it uncovered 162 illegal pipeline connections and illegal refineries in the Niger Delta, mostly in Bayelsa State. In a two-minute […]
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