Business

Nigeria plans clampdown on shell companies

The Nigeria Financial Intelligence Unit, NFIU, has announced an upcoming crackdown on ghost businesses across the country, amidst concerns about lax regulation of companies’ financial dealings. The head of the agency, Moddibo Tukur, said during a visit to the Securities and Exchange Commission on Wednesday that the businesses that were registered without physical addresses constitute […]

Business

External debt rises by $15.3bn under Buhari

The nation’s external debt stock rose by 148 per cent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office showed. The external debt soared to $25.61bn on March 31, 2019 from $10.32bn on June 30, 2015, according to the DMO. Eurobonds worth $10.87bn accounted for the largest chunk […]

Business

NAGAFF raises alarm over Nigeria’s involvement in African Free Trade Area  

By Foster Obi National Association of Government Approved Freight Forwarders (NAGAFF) has highlighted the dangers faced by Nigeria for joining the African Continental Free Trade Area (AfCFTA), wondering why the government took the plunge without proper consultation. A lengthy statement signed  by Boniface Aniebonam, NAGAFF Founder said “It is to us in NAGAFF that Nigeria […]

Business

Ikeja Electric, SLOT organize technical skills acquisition programme to empower youths

By Foster Obi Leading Nigerian Electricity Distribution Company, Ikeja Electric Plc (IE) has partnered with Slot Foundation to train 40 young persons in a skill acquisition and capacity building empowerment scheme, tagged Youth Empowerment Program (YEP). YEP is one of IE’s Corporate Social Responsibility (CSR) initiatives designed to empower youths who are mainly residents of […]

Business

NCC remits N51.3b revenue in Q1 to Fed Govt

The Nigerian Communications Commission (NCC) has remitted N51.3 billion to the Federal Government’s Consolidated Revenue Fund (CRF) in the first quarter (Q1) of this year. It restated its commitment to fight crimes in the country and ensure seamless internet usage. The remittance, according to the Executive Vice Chairman (EVC/CEO), NCC, Prof. Umar Garba Danbatta, is […]