The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy regime from 2013 to 2022 has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday next week for questioning.

The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy regime from 2013 to 2022 has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday next week for questioning.

The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy regime from 2013 to 2022 has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday next week for questioning. Ahmed is to appear before the committee with all the documents demanded by the lawmakers relating to subsidy claims and payments in the period under review. Chairman of the committee, […]

August 10, 2022 48

BUSINESS

President Muhammadu Buhari has expressed happiness over the appointment of Bishop Peter Okpaleke of Ekwulobia Diocese of Anambra State, as a Cardinal in the Catholic Church by Pope Francis.

President Muhammadu Buhari has expressed happiness over the appointment of Bishop Peter Okpaleke of Ekwulobia Diocese of Anambra State, as a Cardinal in the Catholic Church by Pope Francis. In a statement signed by his Senior Special Assistant on Media and Publicity, Garba Shehu, Buhari commended the Pope for finding a capable Nigerian in the person of Bishop Okpaleke to be one of the two nominees from the African continent. […]

June 3, 2022 165

BUSINESS

The Central Bank of Nigeria in recent data has indicated that debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year

The Central Bank of Nigeria in recent data has indicated that debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing the sector since it was privatised over eight years ago. It was earlier reported in July 2020 that the core investors in the distribution companies were looking to restructure the […]

May 5, 2022 87

BUSINESS

Nigeria’s external reserves fell slightly by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the Central Bank of Nigeria.

Nigeria’s external reserves fell slightly by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the Central Bank of Nigeria. The CBN revealed that the reserves, which had earlier gained $243.83m in 19 days from $39.54bn as of April 1, 2022 and rose to $39.78bn as of April 19, 2022, returned to a downward path. The external reserves fell by $313m in March, after […]

May 5, 2022 43

BUSINESS

The Economic and Financial Crimes Commission, EFCC have grilled some aides to the Attorney-General of the Federation, Abubakar Malami, SAN for allegedly selling presidential pardon.

The Economic and Financial Crimes Commission, EFCC have grilled some aides to the Attorney-General of the Federation, Abubakar Malami, SAN for allegedly selling presidential pardon. Recall that President Muhammadu Buhari had pardoned about 159 convicts, including a former Governor of Plateau State, Joshua Dariye, and former Governor Jolly Nyame of Taraba State, who are both in prison for diverting billions of naira of public funds. The decision was reached during […]

May 5, 2022 156

BUSINESS

The Federal Government on Wednesday said it was set to roll out the Government Enterprise and Empowerment Programme 2.0 in all the 36 states and the Federal Capital Territory.

The Federal Government on Wednesday said it was set to roll out the Government Enterprise and Empowerment Programme 2.0 in all the 36 states and the Federal Capital Territory. It stated that under the programme, 98,000 Nigerian farmers and small business owners would get between N50,000 and N300,000 interest-free loans. This implies that the government will give out over N5bn as loans under the scheme. The Minister of Humanitarian Affairs, […]

April 7, 2022 30

BUSINESS

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners.

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners. The latest data obtained from the oil firm on Wednesday on the cash call arrears repayment showed that while the NNPC had completed the repayments to Mobil Producing Nigeria and Chevron Nigeria Limited, it was still owing three […]

April 7, 2022 26

BUSINESS

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles.

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles. There are speculations that the service has reviewed the tariff on imported used vehicles from 35 to 20 per cent. According to the news, the duty rate is applicable on the Common External Tariff trade portal under HS Code 8703. However, clearing agents have insisted that the Customs must make an official statement […]

April 7, 2022 95

BUSINESS

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies.

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that the penalties were part of efforts by the apex bank to ensure that banks implement […]

April 7, 2022 33

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