The Economic and Financial Crimes Commission (EFCC) on Tuesday successfully secured the conviction of one Agumandu Christopher Nnamdi, before Justice F.N. Yunusa of the Federal High Court Enugu, Enugu, on a count charge bordering on money laundering. The convict was arrested by a team of Presidential Trans-border Task Force of the Nigeria Customs Service on […]
Enugu State Government says that its Internally Generated Revenue (IGR) has risen from N450 million to N700 million monthly due to improved collection system. The Commissioner for Finance and Economic Development, Mrs Eucharia Uche-Offor, disclosed this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Enugu. Uche-Offor said that the increase […]
The Central Bank of Nigeria has decided to introduce a flexible exchange rate policy as it continues to monitor developments in the economy. This announcement was made on Tuesday by the CBN Governor, Godwin Emefiele, at the end of the two-day rate setting meeting by the Monetary Policy Committee (MPC) in Abuja. A communiqué issued […]
Amechi Obiakpu Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has called on all Electricity Distribution Companies (DISCOs) to ensure that all electricity consumers are supplied with meters. This, he said, will ensure that revenue realised will equate the amount of electricity consumed. Emefiele stated this over the weekend during the “4th […]
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele said N55.46 billion was disbursed to 24 power firms as electricity market stabilization facility. Emefiele said this at the 4th tranche disbursement of the facility in Lagos. He said that three distribution companies got N8.67 billion, 14 generating companies and Nigerian Independent Power […]
The Federal College of Agriculture, Ishiagu, Ebonyi, says it has began the exportation of processed bagged cassava produced by the institution. The Provost of the college, Prof. Justina Mgbada, disclosed this in an interview with the News Agency of Nigeria (NAN) on Saturday. She noted that the institution was committed to actualising the Federal […]
Oil marketers on Friday in Abuja called on the Federal Government to assist them in making foreign exchange available for the importation of petroleum products. The marketers, under the umbrella of the Depot and Petroleum Products Marketers Association of Nigeria (DPPMAN), made the plea during a meeting with the Minister of Finance held at […]
Nigeria has suspended talks with MTN Group Ltd. about a record $3.9 billion fine on the wireless company indefinitely while the country’s House of Representatives completes an investigation into the size of the penalty and how it was delivered. The lawmakers “have set up a committee to investigate the MTN saga and they are still […]
Foreign Direct Investments (FDIs) in Nigerian Oil and Gas Free Zones totaled 75 billion dollars (N14.7 trillion), with a lion share of 60 billion dollars (N11.8 trillion) investments in Onne Oil and Gas Free Zone. The Managing Director of Oil and Gas Free Zone Authority (OGFZA), Mr Victor Alabo said this in Onne, Rivers, as […]
The Federal Executive Council (FEC) on Wednesday approved the proposal for Dangote Construction Company to use cement to build a section of the Lokoja- Obajana-Kabba-Ilorin road. The Minister of Power, Works and Housing, Mr Babatunde Fashola, disclosed this while briefing State House correspondents on the outcome of the Federal Executive Council meeting in Abuja. […]