By BENJAMIN ORISEMEKA, Abuja + The Nigeria Deposit Insurance Corporation (NDIC) said it has developed a Single Customer View (SCV) platform to be deployed to Micro Finance Banks (MFBs) to eliminate delays often experienced in reimbursing depositors following revocation of failed MFBs licences by the Central Bank of Nigeria...
BUSINESS
…previous scholarship graduates equipped A total of 360 students received scholarships from the MTN Foundation during award ceremonies recently held in Abuja, Lagos and Owerri. Director, Science and Technology, Lagos State Ministry of Education, Grace Akinfoyewa, Senior Special Assistant on Education to the Governor, Lagos State, Adetola Salau, Director,...
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021 ordered all banks to close accounts of anyone who transacts in cryptocurrency. According to the CBN, dealing in cryptocurrency or facilitating payments for cryptocurrency exchanges is prohibited. In a...
The Federal Executive Council (FEC) on Wednesday in Abuja has approved N35 billion for various projects in the aviation sector. The projects include increased cost of construction of terminal buildings at Akanu Ibiam International Airport Enugu State and the airport at Asaba. Minister of Aviation, Sen. Hadi Sirika, made...
The Nigerian Communications Commission (NCC) has insisted that Mobile Network Operators (MNOs), their licensed agents and telecom subscribers should always comply with the Subscriber Identity Module (SIM) registration, activation and replacement procedures as set out in the Revised National Identity Policy for SIM Registration.The Commission made the request during...
…Tasks member states on increased collaboration By JOY ADARA, Abuja – Having successfully piloted the affairs of the West Africa Telecommunications Regulators Assembly (WATRA) as Chairman in the last one year, Nigeria has handed over the mantle of leadership of the Assembly to the Republic of Guinea. Prof. Umar...
The Debt Management Office (DMO) has released schedule of local borrowings of about N720billion by the Federal Government for the second quarter. The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar For The Second Quarter, 2022’’. The calendar shows that , on April 25, the DMO would...
By JOY ADARA, Abuja – The Federal Inland Revenue Service has named Shell as a “leading tax compliant organisation in Nigeria for 2021.” At an award ceremony in Abuja last week as part of the second annual National Tax Dialogue, Shell companies in Nigeria also won the award for...
The Cinema Exhibitors Association of Nigeria (CEAN) on Monday said that it generated N346.6 million from tickets sold across the country in March. Mr Patrick Lee, CEAN’s National President, disclosed this in an interview with the News Agency of Nigeria (NAN) in Lagos. Lee said that the figure represented...
By BENJAMIN ORISEMEKE, Abuja – Dangote Group Executive Director, Devakumar Edwin has said the Group’s 650,000 barrels per day refinery is due to begin production by the fourth quarter of 2022, The refinery, being built at a cost of $19 billion in Lagos, has 4.74 billion liters storage capacity,...
Flour Mills of Nigeria PLC, a leader in the Fast-moving consumer goods (FMCG) recently passed the PECB ISO 27001certification audit for its Information Technology (IT) and cybersecurity framework and policies. This certification has placed Flour Mills of Nigeria PLC as the foremost Nigerian firm in the FMCG sector to...
Emirates Airlines has made an offer to partner with Nigeria in its quest to establish a national carrier. Mr James Odaudu, Special Assistant to Sen. Hadi Sirika, Minister of Aviation, stated in Abuja on Monday that the President of Emirates Airlines, Mr Tim Clark made the offer during a...
By BENJAMIN ORISEMEKE, Abuja – Africa Finance Corporation (AFC) has invested a total of $10 billion in projects across 35 African countries since its inception in the last 15 years. The Corporation invested in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural...
With the coming on stream of the Dangote Fertiliser Plant, in Lagos, Nigeria has commenced exportation of Urea-based fertiliser to the U.S, India, Brazil, Mexico and Argentina. Mr Devakumar Edwin, the Executive Director, Strategy Capital Projects and Portfolio Development, Dangote Group disclosed this on Sunday when the Minister of...
By BENJAMIN ORISEMEKA, Abuja – The Securities and Exchange Commission (SEC) has announced that the first Capital Market Committee (CMC) meeting in 2022 will hold on Wednesday The meeting is scheduled to be held virtually through Zoom and will see key stakeholders in the capital market deliberate on issues...
Dangote Fertiliser Limited has announced plans to train over one million farmers in the next three years to enhance the agricultural sector and create jobs. Mr Uchenna Nwankwo, Deputy Sales Officer, Dangote Fertiliser Ltd., made this known in a statement on Sunday from the ongoing Enugu International Trade Fair....
The Central Bank of Nigeria (CBN), has warned Deposit Money Banks (DMBs) to stop bringing “composed banknotes ” as part of their deposits with the apex bank. The warning is contained in a circular issued in Abuja by Ahmed Umar, the Director, Currency Operations Department of CBN, which he...
A company has built a toilet and bathroom into his SUV vehicle. With this car, one does not need to worry about the restroom when travelling long distances. CarToq reports that the vehicle solved a major need by installing the toilet inside the Toyota Fortrunner. It has tank for water...
The Central Bank of Nigeria (CBN) says it has disbursed N948 billion to 4, 478, 381 smallholder farmers under the Anchor Borrowers’ Programme (ABP) across the country. The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi disclosed this on Friday in Enugu during the ongoing Enugu International Trade Fair....
By MBAFAN ADE, Abuja – In preparation for the enforcement of the directive by the Nigerian government, the Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), has urged citizens and legal residents to use the next few days to ensure that they complete the linkage. The...