The new excise duty for alcoholic beverages and cigarette earlier approved by President Muhammadu Buhari will take effect from today, finance minister, Kemi Adeosun said. Under the new rates for tobacco, each stick of cigarette will attract one naira specific rate per stick; that is N20 per pack of 20 sticks in 2018. In 2019, […]
OPEC oil output fell to a 13-month low in May due to declining Venezuelan production, Nigerian outages and strong compliance with a supply-cutting deal, a Reuter’s survey found. The Organization of the Petroleum Exporting Countries pumped 32.00 million barrels per day in May, the survey found, down 70,000 bpd from April’s revised figure. The May […]
A yet-to-be identified 27 year-old Nigerian is awaiting extradition by Poland to the United States over an estimated $7m cyber-crime. The Nigerian was arrested by Poland’s police in the southwestern city of Wroclaw in connection with alleged cyber fraud and extortion done over the internet. The Police Central Bureau of Investigation said in a communiqué […]
Nigeria’s result against the Democratic Republic of Congo in Monday’s friendly in Port Harcourt wasn’t as important as the performances of the Super Eagles as the World Cup looms large. Gernot Rohr used the opportunity to assess his players as he prepares to cut some names from his preliminary squad, and several Nigerians on display […]
Describing measures taken by the National Pension Commission (PENCOM) to sustain growth of the Nigerian pension industry as apt, Stanbic IBTC Pension Managers Limited has said the micro pension scheme, multi-fund investment structure and Pension account transfer window, to mention but a few, are among initiatives capable of putting the sector in stronger footing going […]
The Supreme Court on Friday ordered, Erastus Akingbola, to return to the Federal High Court, Lagos, to answer his alleged five billion Naira fraud charge. Akingbola is a former Managing Director of the defunct Intercontinental Bank Plc. Justice Tanko Muhammad, leading a five-man panel, affirmed the Feb. 20, 2015 judgment of the Court of Appeal […]
Some shareholders of Oando Plc on Wednesday cautioned its management against moves to reconcile with Ansbury Investments Incorporated, owned by Mr Gabriele Volpi. The shareholders: Pacesetters Shareholders Association, Distinct Shareholders Association and Sage Shareholders, said their objection to the reconciliatory moves was based on an ongoing investigation of Volpi for alleged money laundering by Italian […]
Thailand, the world’s second biggest sugar exporter after Brazil, has decided to cut its exports of raw sugar by at least 500,000 tons this year, as a swelling global surplus and falling prices make it less worthwhile to export it. The 500,000 tons is to be sold to local ethanol producers, as demand for the […]
Walt Disney Co.’s said “Avengers: Infinity War” will surpass $1 billion at the box office on Saturday, 11 days after its release and faster than any movie in history. The first of a two-part installment from the Marvel Entertainment franchise, featuring actors including Robert Downey Jr. and Scarlett Johansson portraying superheroes from the Marvel comic […]
After Mark Zuckerberg’s Congressional hearing, the issue of Cambridge Analytica is still being addressed. During Facebook’s F8 event that took place on May 1st, the social network shared its plans to better protect their users’ data. They will audit and restrict access to each and every app that request information from the platform. This is […]