The Federal Government on Tuesday confirmed that Twitter had formalized its desire to seek dialogue on issues leading to the indefinite suspension of its operations in the country. The Minister of Information and Culture, Lai Mohammed, confirmed this when he featured on a Radio Nigeria call-in programme – “Politics Nationwide’’. A news report by the […]
Researchers at Morgan Stanley have projected a slowdown in property and casualty (P&C) insurance rates as lines begin to approach pricing adequacy. Currently, overall rate increases continue to remain positive and above loss trend, as evidenced by improvement in Q1 commercial lines margins. However, analysts at Morgan Stanley, one of the global leaders in executing […]
The World Bank Group on Tuesday pointed out that while the Nigerian government took measures to protect the economy against a much deeper recession, it would be essential to set policy foundations for a strong recovery. The Breton Woods multilateral institution made this remark in its latest World Bank Nigeria Development Update (NDU) titled “Resilience […]
With the price of Brent oil peaking at $70.46 per barrel on Tuesday from $68.50 a day earlier, there are strong indications that Nigeria’s deficit financing problem may be abated if the rising oil prices in the global market are sustained for weeks or months. Industry analysts believe that at $70.46 per barrel, Nigeria could […]
Ketron Investment Limited, a subsidiary of Persianas Investment Limited, has acquired Shoprite Nigeria from the Retail Supermarkets Nigeria Limited (RSNL) following several months of negotiations after the Shoprite International had indicated its plan to divest from the retails company. The divestment by Shoprite International, which had secured the approval of the Federal Competition and Consumer […]
The International Labour Organisation (ILO) on Wednesday reported that over 100 million more workers had been pushed into poverty by the raging COVID-19 pandemic, after working hours dropped and access to good quality jobs became impossible for millions of workers over the past months. The UN’s labour organization in its Annual World Employment and Social […]
European Union member states and lawmakers on Tuesday reached a deal on tougher tax transparency measures for multinationals. The new rules which require multinational companies to list their profits made, taxes paid and the number of people they employed in individual EU countries, are coming following increased international pressure on the issue of multinationals and […]
The National Insurance Commission (NAICOM) on Tuesday disclosed that substantial part of public assets in the country remained under-insured in terms of their real value. The Commissioner for Insurance, Mr. Sunday Thomas, gave this hint at a Sensitisation Workshop organized for insurance desk officers of Ministries, Departments, and Agencies (MDAs) on the insurance of Federal […]
The Nigeria Deposit Insurance Corporation (NDIC) has solicited the support of the Ministry of the Federal Capital Territory (FCT) in the realisation of landed properties of banks in-liquidation within the FCT to enable it pay depositors of affected closed banks. The Director, Communication & Public Affairs Department of the corporation, Mallam Bashir Nuhu, quoted the […]
Apparently determined to attract private investments into the state’s infrastructure sector, the Edo State Governor, Godwin Obaseki, has signed the Infrastructure Development and Social Investment Tax Credit Scheme Order 2021. The Order signed by the governor on 11 May 2021 introduces the Infrastructure Development and Social Investment Tax Credit Scheme, a public-private partnership (PPP) arrangement […]