Following failure to remit the Personal Income Taxes (PIT) of their employees and for non-remittance of consumption taxes, the Lagos State Internal Revenue Service (LIRS) has closed 34 companies in the state, including 23 hospitality sector entities. Some of the affected companies are NTS Nigeria Ltd., Med-In Hospital & Pharma Services Ltd., Danvic Petroleum Int’l […]
The Nigeria Deposit Insurance Corporation (NDIC) reported that it had paid a total sum of N120,262,406 billion to depositors, creditors and shareholders of banks in-liquidation as at June 30 this year A senior staff of the corporation, Tanko Ibrahim, made this disclosure in Abuja during the 2023 World’s Savings Day event organised by the NDIC […]
The European Data Protection Board (EDPB) has issued a binding decision banning Facebook and Instagram parent company, Meta, from processing users’ personal data for the purposes of behavioural advertising. Following the regulatory decision, the EDPB has instructed the Irish Data Protection Commission (DPC), Meta’s lead supervisory authority, to take final measures to enforce this ban […]
The Senate on Tuesday confirmed the nomination of Dr. Zacch Adedeji as the Chairman of the Federal Inland Revenue Service (FIRS). Adedeji, who appeared at the upper chamber for screening elaborately spoke on his plans to improve the nation’s revenue, referring to the dearth of information in the oil and gas sector. While lamenting the […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported 144 crude oil theft incidents in seven days. The company, in a statement on the incidents issued on Tuesday, indicated that the incidents recorded between October 21 and 27 happened in various locations, including Tori and Ogborode in Delta; Olodiama, Oporomor IV, and West Boma both in […]
The Central Bank of Nigeria (CBN) on Monday clarified the ongoing rumour about its policy moves to redenominate the Naira, saying that there is no plan by it to redenominate or restructure the Naira notes in 2024. The apex bank, in a statement signed by its Director, Corporate Communications, Dr. Isa AbdulMumin, and shared on […]
Ogun State Governor, Prince Dapo Abiodun, on Monday said the introduction of Compressed Natural Gas (CNG) mass transit buses in the country will revolutionize the entire transport sector and reduce the hardship being experienced by Nigerians following the recent removal of fuel subsidy by the Federal Government. The governor made this remark during the unveiling […]
….As Other Food Items’ Prices Surge Consumers in the country bought 1kg of loose locally rice at an average price of by 60.59% higher in September this year at N757.06 compared to the N471.42 it sold at in the corresponding month of last year, The National Bureau of Statistics (NBS) in its ‘Selected Food Price […]
Investment experts at Bancorp Securities Limited, one of Nigeria’s investment research and consulting services firms, have projected that given the current macroeconomic indices in the nation’s economic space, trading in the Nigerian Exchange this week holds prospect for good returns. The researchers, in the firm’s ‘Weekly Stock Recommendation for Oct 30th-3rd Nov 2023’ report specifically […]
The Federal Government is projecting to attract over $ 2 billion in investment into the Nigerian economy and create more than 250 employment opportunities for different professionals through the Presidential Compressed Natural Gas Initiative (P-CNGi). The Chief Executive Officer, P-CNGi, Engr. Micheal Oluwagbemi, disclosed this at the weekend during the official commissioning of CNG conversion […]