The Nigerian National Petroleum Company Limited (NNPCL) reported on Tuesday that 127 crude oil thefts were recorded in the nation’s hydrocarbon resources industry within seven days. The state-owned oil company, in its weekly report on the “War On Crude Oil Theft”, disclosed that it uncovered 51 illegal refineries, 29 illegal connections and discovered eight vessels […]
The leadership of the Nigerian Communications Commission (NCC) is excited about Nigeria’s impressive performance at the ongoing International Telecommunications Union’s (ITU)’s World Radio Communications (WRC) Conference 2023, holding in Dubai, United Arab Emirates, where two Nigerians were elected into leadership positions, while some other delegates from the Commission were elected into Working Groups. Executive Vice […]
….As VAT Accruals Rise By 51.60% Revenue generation data just published by the National Bureau of Statistics (NBS) reflected that despite the lingering headwinds in the economy, revenues from Company Income Tax (CIT) and the consumption tax – Value Added Tax (VAT) – surged in the third quarter of this year compared to what was […]
Katsina State Government has waived the payment of Right of Way (RoW) charges earlier imposed on telecom operators by it. Mr Ibrahim Kaula, the Chief Press Secretary to the Katsina State Governor, Dikko Radda, announced the fiscal relief for the telcos. The RoW charge, which the telcos had complained about, is the levy imposed by […]
Aspen Insurance Holdings Limited, the Bermuda-based insurer and reinsurer, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. A news report from Reinsurance News, an industry-focused online medium, on Monday indicated the announcement from the risk underwriting firm confirmed a previous report […]
The Centre for the Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups, has described the recent decision by the Central Bank of Nigeria (CBN) to increase the Customs Exchange rate from N783 to N952/$1 as undesirable for the economy, warning that it will worsen the already prohibitive production and operating costs […]
The Central Bank of Nigeria (CBN) has announced the immediate suspension of processing fees on large cash deposits. With this fresh directive, all financial institutions regulated by the CBN will cease to impose any charge on cash deposits that meet or exceed these thresholds. The apex bank in a circular to dated December 11, 2023 […]
The Chief Executive Officer of the Pension Funds Operators’ Association of Nigeria, Mr. Oguche Agudah, disclosed Friday that the National Pension Commission (PenCom) recovered N24.8 billion of funds unremitted by employers in the third quarter of 2023. Agudah, who spoke at a media parley with the theme “At the dawn of 20 years of pension […]
The Transmission Company of Nigeria (TCN) says that currently it has installed capacity to transmit 8,100mw of the about 13,000mw of electricity being generated nationwide. The company’s General Manager for Port Harcourt Region, Dr Thomas Inugonum, who gave this hint on Sunday in the Rivers State capital explained that the company was supposed to be […]
The Central Bank of Nigeria (CBN) has extended the timeline for the issuance of Letters of Credit from 24 hours to five working days as foreign exchange (FX) scarcity continues to constrain business activities nationwide Also, the apex bank extended the timeline for the registration of Form M and NXP from 24 hours to two […]