The three tiers of government shared a total of N4.55tn between January and September this year as disbursements from the Federation Accounts Allocation Committee. According to the latest quarterly report of the Nigerian Extractive Industries Transparency Initiative, released in Abuja on Wednesday, out of the N4.55tn that was shared in the review period, N1.76tn was […]

The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday said the Federal Government was targeting a revenue of $1bn from its tax amnesty programme, adding that the target might be exceeded as two companies had already paid $110m (N33.6bn at the official exchange rate of N305 per dollar). “On the amount expected, we projected $1bn […]

The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday announced the suspension of the Director-General of the Securities and Exchange Commission, Mounir Gwarzo, over allegations of financial impropriety levelled against him. Also suspended were two management staff members of the commission. They are the Head of the Media Division, Mr. Abdulsalam Naif; and the Head […]

President Donald Trump on Wednesday retweeted three anti-Muslim videos posted by a British far-right group. One of them purports to show a Muslim beating up a Dutch boy on crutches. Another is described as showing an Islamist mob pushing a teenager of a rooftop. The third purports to show a Muslim throwing down and smashing […]

Amnesty International on Tuesday said Royal Dutch Shell Plc should face investigations in three countries for alleged complicity in human rights abuses, including murder and rape, committed by the Nigerian military government in the oil-producing Ogoniland region in the 1990s. The London-based human-rights group said authorities in Nigeria, the United Kingdom and the Netherlands should […]

Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria are seeking the Federal Government’s commitment to the repair of the nation’s ailing refineries. The association promised to support any sustainable model that could make the refineries effective and profitable. The President, PENGASSAN, Mr. Francis Johnson, during a courtesy […]

The force majeure notice recently issued by power distribution companies and their disapproval of the eligible customer regulation of the Nigerian Electricity Regulatory Commission are jeopardising power production in the country. According to the power producers, the refusal by the Discos to accept the eligible customer regulation and their subsequent force majeure declaration notice are […]

The Federal Government has backed out of a plan to take a loan of $550m from the Chinese Export and Import Bank for the construction of two new communications satellites. The Minister of Communications, Mr. Adebayo Shittu, said this in an interview with our correspondent on the sidelines of the Alliance for Affordable Internet – […]

Union Bank Learning Academy has been awarded full accreditation status by the Chartered Institute of Bankers of Nigeria. The lender said the development was in recognition of its compliance with regulatory standards and best practices. This, it said, underscored its commitment to the development of its employees as outlined in its employee value proposition, a […]

The Federal Inland Revenue Service on Monday shut down tax-defaulting companies in Lagos and Port Harcourt, the Rivers State capital. This came barely 24 hours after the Federal Government made known its plan to write hundreds of prominent Nigerians about their tax status. Those affected by the enforcement exercise led by Mrs. Anita Erinne of […]