Oil prices in the international oil market rose to near six-month highs on Tuesday as the United States tightened sanctions on Iran, thereby sending shares of energy companies higher and boosting currencies of several major crude producers. For instance, Brent crude oil futures rose 0.7 per cent to $74.57 per barrel by 0630 GMT, their highest since […]
The suspended Director General of the Securities and Exchange Commission (SEC), Mallam Mounir Gwarzo, was reported to have regretted his roles that enabled Medusa Limited, a company he and members of his wife’s family owned, to benefit from contract awards at the commission during his tenure. Specifically, he was quoted by the Administrative Panel of […]
The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year. The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State […]
The Federal Ministry of Transportation has said that revenue collection by state and local government agents along federal highways is illegal and called on the law enforcement agents to halt the practice. The position of the ministry on collection of revenues on federal highways, through erection of road blocks by the sub-national governments agents, was […]
The Lagos Chamber of Commerce and Industry (LCCI) has called on the government to consider immediate review of the nation’s Automotive Policy in view of its flaws that are not reflective of the current realities in the industry and attendant negative implications for the development of the local industry. The organized private sector (OPS) group […]
President Muhammadu Buhari on Thursday assented to the N30,000 National Minimum Wage Bill, thereby ending lingering controversies that had trailed the bill over the past months. A source in the Presidency who confirmed that the President signed the bill into law this afternoon, said that the Senior Special Assistant to the President on National Assembly […]
The Nigerian Communications Commission (NCC) has reported that over eight million telecommunication services subscribers were illegally connected by telecom operators for value added services (VAS) without their consent or knowledge. The industry regulator discovered the illegal act of the operators after conducting in last December an audit exercise on forceful mass activations of telecoms subscribers […]
After about three months of investigating a six-count charge bothering on corruption levelled against him by the Federal Government, the former Chief Justice of Nigeria, Justice Walter Onnoghen, was on Thursday convicted by the Code of Conduct Tribunal (CCT) sitting in Abuja, Delivering the three-man panel, the Chairman, Mr Danladi Umar, also ordered the removal […]
The Auditor-General for the Federation (AuGF), Anthony Mkpe Ayine, has identified the poor implementation of audit recommendations contained in the Auditor-General’s inspections and annual audit reports as a major constraint to efforts aimed at sanitizing the nation’s public sector. Ayine made this disclosure when he hosted a delegation from the Pension Transitional Arrangement Directorate (PTAD) […]
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, has described the planned restructuring of the Bank of Agriculture (BOA) as imperative in order to improve its operating framework and governance structure with a view to enhancing its efficiency. Okoh, who made this remark at the maiden meeting for the […]