Economy
Accountant General tasks FPOs on integrity, dedication to duty, financial reform initiatives
Nigeria’s Accountant General of the Federation, Dr. (Mrs.) Oluwatoyin Madein has tasked Federal Pay Officers (FPOs) to entrench transparency, dedication and professionalism in the conduct of their official duties. According to a statement, Madein also mandated the Federal Pay Officers to ensure that Federal Ministries, Departments and Agencies (MDAs) in…
Read More »CBN extends forex sale period to Bureau de Changes by four months
The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators from January 31 until May 30. This aims to better serve retail market demands. The bank disclosed this in a circular, signed by Dr W. J. Kanya, Acting Director of…
Read More »CBN unveils new FX code, confirms multiple unethical, illegal practices in $7b FX backlog
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso on Tuesday unveiled a new Foreign Exchange (FX) Code to the market. Cardoso, at an event in Abuja, confirmed that the $7 billion dollars of FX backlog that has taken over 12 months to verify has led to the…
Read More »NATCOMS vows to challenge NCC’s approval of 50% tariff hike
The National Association of Telecommunications Subscribers (NATCOMS) has said it would challenge the Federal Government’s decision to allow telecoms operators increase tariff by 50 per cent in a court of law. The President, NATCOMS, Mr Deolu Ogunbanjo, in an interview with the News Agency of Nigeria (NAN) in Lagos said…
Read More »Minister complains that N800b allocated to Works Ministry for 2025 inadequate
The Minister of Works, Mr Dave Umahi has complained that the N800 billion allocated to the ministry in the 2025 budget is inadequate to address the country’s road infrastructure needs. Umahi stated this in Abuja during the 2025 budget defence session organised by the House Committee on Works. He appealed…
Read More »FG, states, LGs share N1.424trn revenue for Dec 2024
A total sum of N 1.424 trillion, being Dec. 2024 Federation Account Revenue has been shared to the Federal Government, states, and the Local Government Councils (LGCs). This is according to a statement by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF).…
Read More »Minister orders removal of speed bumps on highways nationwide
Nigeria’s Minister of Works, David Umahi, has ordered the removal of speed bumps on the country’s highways to improve traffic flow and reduce congestion on major roads. Umahi made this known at a two-day Retreat for Federal Ministry of Works Highway Engineers and Managerial Staff on Friday in Abuja. The…
Read More »BREAKING: Governors Back Tax Reform Bills
The 36 State Governors under the umbrella of the Nigeria Governors’ Forum (NGF) have declared support for the tax reform bills presently before the National Assembly for consideration and passage into law. The Governors rose from a meeting with the Taiwo Oyedele-led presidential tax reform committee and declared in a…
Read More »Minister drops hint of under 100% telecoms tariff increase
The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani has said that telecoms tariffs will soon increase but not by 100 per cent. Rising from a stakeholders meeting with Mobile Network Operators (MNOs) on Wednesday in Abuja, Tijani said that consultations and engagements were ongoing on the issue.…
Read More »Tinubu to Governors: You must drive development and prosperity
President Bola Tinubu, on Wednesday in Lagos, emphasised the critical role of state governors in driving Nigeria’s development and prosperity. He said their leadership at the subnational level was central to achieving food security, economic prosperity and rapid national growth. The President made the remarks during a visit by Vice…
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