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Nigerian Economy

The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s central bank retains lending rate

On Monday, the currency exchanged for 475 at the parallel market, against the 383 central bank’s official rate. Inflation hit 15.75 per cent in December 2020, the highest in three years, according to the National Bureau of Statistics.
Former chairman of Nigeria’s electoral body, Independent National Electoral Commission, INEC, Professor Attahiru Jega, has criticised the Buhari administration over its handling critical national issues.

Ex-INEC chair: President Buhari has disappointed so many people

Former chairman of Nigeria’s electoral body, Independent National Electoral Commission, INEC, Professor Attahiru Jega, has criticised the Buhari administration over its handling critical national issues.
President Muhammadu Buhari is currently presiding over the first Federal Executive Council, FEC, meeting for the year 2021 at the Council Chamber, Presidential Villa, Abuja.

President Buhari directs strict compliance with payment of taxes by foreign, local companies

President Muhammadu Buhari on Thursday directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria, urging the deployment of more digital platforms and seamless connections.

NCC: How we improved broadband service

The Executive Vice Chairman of the Commission, Professor Umar Danbatta disclosed this while reeling out industry growth data at a briefing for the new Permanent Secretary of the Federal Ministry of Communications and Digital Economy, Engr. Festus Yusuf Daudu, on the functions and regulatory activities of the Commission in Abuja.
The NCC’s Executive Vice Chairman, Prof Umar Garba Danbatta, who disclosed this in a statement on Thursday added that active internet subscriptions also increased to 154.9m.

NCC: Nigeria has 208 million telephone subscribers

Telephone subscribers in Nigeria are now 208 million, the Nigerian Communications Commission (NCC) has disclosed.

NCC chief: 3G, 4G telecoms towers hits 53,460

As a result of improved broadband/telecoms service delivery to Nigerians, third generation (3G) and fourth generation (4G) base transceiver stations (BTS) deployment in the country has increased from 30,000 to 53,460 while Fibre Optic Transmission cables expanded from 47,000 km to 54,725 km in the last five years.

Doyin Salami: Nigeria spent N1.85 trillion on food importation in 2020

The Nigerian government spent N1.85 trillion on food imports in 2020 after it closed the country’s land borders, the chairman of the presidential economic advisory council, Doyin Salami, has said.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS raked in N4.9 trillion in tax revenue 2020 – official

The Federal Inland Revenue Service (FIRS) says it collected N4.9 trillion as tax revenue in the 2020 fiscal year.
An economist, Ms Razia Khan, also Managing Director-Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

2021 Outlook: Nigeria will record positive GDP growth – economist

An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
President Muhammadu Buhari presenting the 2021 budget to the National Assembly.

CSOs condemn Nigerian government’s proposed sale of public assets to fund 2021 budget

As Nigerian and Nigerians grapple with economic recession and second wave of COVID-19 pandemic, Civil Society Organisations, CSOs, Monday, disagreed and condemned the alleged move by the Federal Government to sell public assets to implement 2021 budget.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

2021: Banks to walk a tightrope amid low revenue environment

Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
Vice President Yemi Osinbajo.

VP Osinbajo welcomes Microsoft’s offer to support Nigeria economic sustainability plan

Just as global technology giants including Google Inc., HUAWEI, and top social networking company, Facebook, another international tech heavyweight, Microsoft Corporation, has disclosed plans to partner with the Federal Government for the benefit of the Nigerian people, especially young people.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian government to borrow unclaimed dividends, dormant accounts’ balances

Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to the trust fund.”

Intels: No political influence on our business decisions

It will be recalled that on Jan 4, Intels announced that it had severed ties with its former shareholder, former Vice President Atiku Abubakar, after the latter sold his interests in Intels’ parent company, Orlean Invest Holding.
Former Vice-President, Atiku Abubakar has called on the federal government to adopt proactive measures to tackle the second wave of the dreaded coronavirus before things get out of hand.

INTELS: Atiku Abubakar’s divestment an economic decision

Integrated Logistic Services (Intels) Nigeria Limited has debunked claims that the divestment from the company by former Vice President Atiku Abubakar was because its business was being hindered by political influnces from the Buhari administration.

Fintech firm launches online payment, e-commerce platform

A Nigerian Fintech startup, Shago Payments Limited has finally launched its bill payment and e-commerce platform, Shago, into the Nigerian financial sector to serve the banked, unbanked as well as the underserved in the country and internationally.

2021: Greater things lie ahead us – Senator Sani

Senator representing Kaduna Central in the red chamber of the 9th assembly, Uba Sani (APC) on Friday hopeful that greater good things lie ahead of Nigerians in the year 2021.
Rivers United defeated fellow title challengers Rangers in the opening match of their 2021 NPFL season.

NFF chief: NPFL TV to make N18 billion annually

President of the Nigeria Football Federation, Amaju Pinnick, says the Nigerian Professional Football League Television is expected to make at least 18 billion naira annually.

Recent Stories

Residents, government troops flee as armed group overran a town in Nigeria’s Borno state in attack claimed by ISIL.

Troops arrest suspect involved in Kaduna attacks – official

Troops of `Operation Thunder Strike’ have arrested a suspect in connection with the deadly attack in Zangon Kataf Local Government Area (LGA) of Kaduna State in December, 2020.
The National Identity Management Commission (NIMC) says it has over 700,000 National e-ID cards yet to be collected by Nigerians from its offices nationwide.

NIMC: Any NIN issued in Kwara before 2012 is invalid

The National Identity Management Commission (NIMC) says that any National Identification Card or National Identity Number (NIN) issued in Kwara before 2012 is not valid.

President Buhari appoints new service chiefs

A statement issued on Tuesday by the President’s Media Adviser, Femi Adesina, said the new Service Chiefs are: Major-General Leo Irabor, Chief of Defence Staff; Major-General I. Attahiru, Chief of Army Staff; Rear Admiral A.Z Gambo, Chief of Naval Staff; and Air-Vice Marshal I.O Amao, Chief of Air Staff.
Marcus Rashford is ready to take the next step and become the leader of Manchester United's attack following Romelu Lukaku's departure to Inter Milan.

Manchester United’s Marcus Rashford fit after knee scare

Manchester United FC Manager Ole Gunnar Solskjaer said Marcus Rashford was fit for Wednesday’s Premier League match with Sheffield United.

Farmers lament as ‘herders’ destroy maize farm in Ekiti

Some suspected Fulani herdsmen have destroyed a multi-million naira maize farm belonging to members of the Maize Growers Processing Marketer Association of Nigeria (MAGPAMAN) in Ekiti state.