The Federal Government has indicated its readiness to continue the payment of stipend to beneficiaries of the N-Power 2016 Batch 1 beyond December this year. A statement issued to confirm the position of government on the extension of the stipend payment by Senior Special Assistant to the President on Media and Publicity Office of the […]
Ogun Traffic Compliance and Enforcement Corps (TRACE) has disclosed that it rakes in N44.8 million as Internally Generated Revenue (IGR) between January and August this year. The corps commander, Mr Seni Ogunyemi, gave this hint on Monday when members of Ogun Assembly Committee on Transportation paid an oversight to the agency’s head office in Abeokuta. […]
The Institute of Oil and Gas Research and Hydrocarbon Studies (IOGRHS) has described the 2020 deadline to end gas flaring in Nigeria as not realistic in view of the current level of gas flare in the hydrocarbon resources industry by operating entities. The Institute’s Chairman of Council, Prof. Akin Akindoyeni, who maintained this position during […]
The African Development Bank (AfDB) and African Trade Insurance Agency (ATI) on Monday announced the successful completion of a US$500 million credit insurance deal structured to cover a portion of the bank’s portfolio of non-sovereign operations in Africa. The initiative, which is supported by Insurance Broker – RFIB Group Ltd – and leading UK reinsurers, […]
The Executive Vice Chairman (EVC), Nigerian Communications Commission, Prof. Umar Danbatta, on Thursday urged state governments to invest in the implementation of broadband policy of the Federal Government. The industry regulator gave the charge at a one-day stakeholders’ broadband engagement forum held in Kano. Danbatta noted that state governments had a vital role to play […]
The National Insurance Commission (NAICOM) on Thursday announced the suspension of the implementation of its Tier-based Minimum Solvency Capital policy, known as the recapitalisation of the industry. The commission announced the suspension of the policy in a circular to all insurance institutions titled‘Update on the implementation of the Tier-based Minimum Solvency Capital policy for insurance […]
The Minister of Power, Works and Housing, Babatunde Fashola, on Thursday said that transmission expansions works were being implemented in at least 90 locations in furtherance of government’s efforts to improve on-grid electricity supply nationwide. The minister made the disclosure during the commissioning of 2×100MVA – 132/33kv power transformers at Ejigbo Transmission Substation in Lagos. […]
Two closely related tax schemes have helped banks and investors avoid tax or even syphon cash directly out of European treasuries, totaling billions more than previously thought, an investigation indicated on Thursday. So-called “cum-ex” and “cum-cum” deals complex stock transactions around the days when companies pay out dividends have cost taxpayers as much as 55 […]
Members of the Institute of Chartered Accountants of Nigeria (ICAN) have advocated the need for the Federal Inland Revenue Service (FIRS) to begin to sanction all the Federal Government Ministries, Departments and Agencies (MDAs) that failed to remit tax collections as a means of deterring others. The President of the Institute, Razak Jaiyeola, expressed this […]
The Nigerian National Petroleum Corporation (NNPC) has been reported to have extended its crude-for-product swap contracts, the country’s main avenue to meet the bulk of its fuel needs, until June 2019 Reuters reported that the extension of the swap contracts, known also as Direct Sale Direct Purchase, was coming despite Nigeria’s refining capacity of about […]