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Revenues

Speaking at the commencement of a three-day training programme for the Revenue Directors, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the government has been compelled to improve revenue generation, especially in the non-oil sector, to fund the country’s huge expenditure.

Nigerian government to deploy revenue directors to NPA, NIMASA, others over low remittances

Challenged by dwindling revenue and crippling debt amid the COVID-19 pestilence, the Office of the Accountant-General of the Federation (OAGF) on Tuesday began a training programme for treasury officers who will be deployed to strategic Federal Government Owned Enterprises (FGOEs) as Revenue Directors to help swell government’s purse.
Gov. Bello Matawalle of Zamfara has said that construction work on the Gusau Airport project would commence this month.

Zamfara miners react swiftly over governor’s claim on exchanging gold for ammunitions

Local miners operating in Zamfara State, who were accused recently by the state Governor, Hon. Bello Muhammad Matawalle, of exchanging gold products for firearms with foreigners have reacted swiftly denying the allegations of exchanging gold with foreigners for weapons.
Angolan President Joao Lourenco waits to meet with U.S. Secretary of State Mike Pompeo at the Presidential Palace in Luanda, Angola, on February 17, 2020. Andrew Caballero-Reynolds-REUTERS

Angola to join oil and extractives transparency group

Angola plans to join the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in revenues from oil, gas and mineral extraction.
Melee Kyari

Mele Kyari: NNPC now EITI supporting company

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, says the corporation has become an Extractive Industries Transparency Initiative (EITI) supporting company.
The Chairman of RMAFC, Mr Elias Mbam, said this on Thursday in Abuja when he led a team of RMAFC commissioners and other anagement members to the FIRS on a familiarisation visit.

RMAFC calls for more commitment in gas economy to enhance revenue generation

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has called for more development of the gas infrastructure with a view to harnessing more revenues from the sector to the federation account.
Algeria’s Supreme Islamic Council said the National Bank of Algeria (BNA) had become the first state bank to obtain a sharia compliance certificate from the Sharia Board for issuing Fatwas for the Islamic Finance Industry.

Algeria allows first Islamic finance products by state banks

Algeria said on Sunday it had given the go-ahead to a plan aimed at offering Islamic finance services, as it seeks new funding sources to cope with financial problems caused by a fall in energy revenues.
BUA Group

BUA posts Q2 N101.3 billion revenue, N34.82 billion after tax profit

One of Africa’s largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenues of N101.3billion and a Profit After Tax of N34.82billion, representing an increase of 12.7% and 13.74% respectively from the corresponding period in 2019. This was contained in a filing to the Nigerian Stock Exchange.

Microsoft sees growth amidst coronavirus pandemic computing demands

“We are seeing businesses accelerate the digitization of every part of their operations from manufacturing to sales to customer service,” Nadella told a conference call.
The Minister of Information and Culture, Lai Mohammed, made the disclosure Wednesday after the Federal Executive Council presided over by President Muhammadu Buhari, at the State House, Abuja.

Nigerian government announces lifelines for broadcast industry

The Federal Government on Monday announced some lifelines for the broadcast industry as ways of cushioning the effects of COVID-19 pandemic on the industry.
FIFA

Coronavirus takes heavy toll on budgeted FIFA revenues for 2020

FIFA is now budgeting for this year’s revenues to come in a little more than half of its original projections, as a consequence of coronavirus.
Nike is bringing an end to a deal with Amazon which saw the athletics brand sell its clothes and shoes directly to customers on the e-commerce site, reports Bloomberg.

Nike posts big loss for three months to end-May

Sports footwear and apparel giant Nike swung heavily into loss in its March-to-May 2020 quarter, reflecting the impact of COVID-19.

Nigerian Customs generates N573 billion in five months

The Nigerian Customs Service (NCS), on Thursday said it had generated N573 billion between January and May from total targeted revenue of N957 billion for the 2020 fiscal year.
Facebook on Tuesday said the coronavirus pandemic has users flocking to its services while it undermines ad revenue on which the world’s biggest social network depends.

Facebook: We won’t share revenue with Australian media

Facebook on Monday rejected calls from the Australian government and news companies that it share advertising revenue with the media, suggesting it would rather cut news content from its platform.
The British Government has warned Nigerians intending to study in Britain to desist from money laundering and other criminal activities.

UK universities hit by virus outbreak fallout

With conferences cancelled and revenues hit because of a lack of rent from student accommodation, Britain’s universities are reeling from the global coronavirus pandemic.
The chairman of the Northern Broadcast Media Owners Association (NBMOA), Dr. Ahmed Tijjani Ramalan, revealed this saying the shut down would affect about 40 radio and television stations spread across the Northeast, Northwest and North Central, which collectively employ about 40,000 personnel in such fields as engineering, journalism, administration and marketing.

Private broadcast stations cry for help

The chairman of the Northern Broadcast Media Owners Association (NBMOA), Dr. Ahmed Tijjani Ramalan, revealed this saying the shut down would affect about 40 radio and television stations spread across the Northeast, Northwest and North Central, which collectively employ about 40,000 personnel in such fields as engineering, journalism, administration and marketing.
Gov. Yahaya Bello of Kogi has ordered the immediate suspension of the Vice Chancellor of Kogi State University, Ayangba and the Rector of Kogi State Polytechnic, Lokoja.

Vice-chancellor, Rector suspended for disobeying directive on TSA

Gov. Yahaya Bello of Kogi has ordered the immediate suspension of the Vice Chancellor of Kogi State University, Ayangba and the Rector of Kogi State Polytechnic, Lokoja.
(FILES) In this file photo taken on September 4, 2019 shows the logo of the US social networking website Twitter, displayed on a smart-phone screen, in Lille, northern France. – Several features on Twitter were down on October 2, 2019, the platform said, with users from Japan to the USA reporting they were unable to log in, use the mobile app or see direct messages.”We’ve been experiencing outages across Twitter and TweetDeck,” the social media giant said in a statement, without giving a reason for the disruption. “You might have had trouble Tweeting, getting notifications, or viewing DMs. We’re currently working on a fix, and should be back to normal soon.” (Photo by Denis Charlet / AFP)

Twitter hits $1 billion in quarterly revenue

Twitter has hit $1 billion in quarterly revenues for the first time in its history, as the company boasted improved advertising income and sizable increase in active users.

Presidency explains Finance Act 2019

The presidency had made public the breakdown of Finance Bill, 2019, which was submitted to the National Assembly by President Muhammadu Buhari alongside the 2020 Appropriation Bill, and signed into law by the president on Jan. 13, 2020.

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The Commissioner of Police in Ebonyi, Mr Philip Maku, has warned criminals operating in the state to repent from their evil ways or leave the state.

#EndSARS: Police confirm attack on station in Ebonyi

The Police Command in Ebonyi has confirmed Thursday’s attack on Uburu Police Station in Ohaozara Local Government Area of the state by suspected hoodlums.
President Muhammadu Buhari

#EndSARS: President Buhari urged to probe Lekki shootings

A coalition of women groups, Mothers United and Mobilised (MUM), has called on President Muhammadu Buhari to constitute a transparent panel of inquiry into alleged shooting of unarmed EndSARS protesters in Lekki on Tuesday.
Human Rights Writers Association of Nigeria, HURIWA, has condemned what it called the silence of President Buhari over protests against operatives of the Special Anti-Robbery Squad, SARS, a unit of the Nigeria Police Force, in the past two weeks.

#EndSARS: Institute invites protesters for dialogue

The Institute for Peace and Conflict Resolution (IPCR) has invited the youths currently protesting against police brutality with the hashtag, #ENDSARS for a dialogue with officials of the institute.
The nominees for the Premier League’s Young Player of the Year award have been named and it is unsurprising to see the list dominated by Manchester United stars.

Manchester United in buoyant mood ahead of clash with Chelsea

Manchester United will approach Saturday’s home English Premier League (EPL) clash with Chelsea in buoyant mood rather than in trepidation.
Chinese Foreign Ministry spokesperson Zhao Lijian speaks at the daily media briefing in Beijing on April 8. GREG BAKER-AFP VIA GETTY IMAGES

China threatens retaliation over US-Taiwan arms sale

China on Thursday threatened to make a “legitimate and necessary” retaliation over the US sale of $1 billion worth of missiles to Taiwan as Beijing becomes increasingly strident over its claims to the self-ruled island.