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Nigeria loses billions daily as the JTF continues to steal oil in the Niger Delta

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Chi wins most Innovative FMCG company award

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The Federal Government has commenced the immediate implementation of some aspects of the Finance Act with the implementation of 7.5 per cent Value Added Tax (VAT) on delayed payments on government transactions. The Accountant General of the Federation (AGF), Mr. Ahmed Idris, Thursday said all approved payments transactions not concluded before the passage of the …

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For freezing the bank account of one Mr Adetokunbo Odutola on the instructions of the Economic and Financial Crimes Commission, the Lagos State High Court in Ikeja has awarded N25m against Diamond Bank Plc. In a judgment by Justice S.O. Nwaka, the court held that a bank account could only be frozen on the order …

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The Ajaokuta Steel Company will begin full production in 2022 as the Russian Government, through the Russian Export Centre and the Africa Export-Import Bank (Afreximbank), is expected to commit $1.465bn to the moribund steel company’s revitalization, the Minister of Mines and Steel, Olamilekan Adegbite, has said. Adegbite said the Federal Government was expected to sign …

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The Organised Private Sector on Monday warned the government against fleecing the people and endangering productivity. They spoke in response to the signing of the Finance Bill into law by the President, Major General Muhammadu Buhari (retd.) in Abuja. The law heralds a new regime of Value Added Tax rate of 7.5 per cent, up …

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The Trade Union Congress of Nigeria (TUC) has issued a 21-day ultimatum state governors to commence the implementation of the new minimum wage or be ready to take responsibility for the consequences. Congress, however, advised all state governments who had not complied with the implementation and immediate payment of the N30, 000.00 new National Minimum …

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BMW-owned Rolls-Royce Motor Cars sold a record 5152 luxury cars across more than 50 countries in 2019, the highest annual figure ever in the Rolls-Royce’s 116-year history. That marked a 25% increase over the 4,107 vehicles it sold in 2018. The Americas remained the Rolls-Royce’s largest market in 2019, with about a third of its sales. This is followed by …

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A massive protest is underway at the Nigerian headquarters of Chevron against Jeff Ewing, Managing Director of Chevron Nigeria Limited(CNL) Scores of people in red T-shirts were spotted gathering on the outskirts of the office premises as early as 10:am on Monday. People in red shirts could be seen right from Chevron roundabout down the …

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Electricity distribution companies in the country will record a tariff shortfall of N545bn this year, an analysis of data obtained from the Nigerian Electricity Regulatory Commission has shown. According to the regulator, the Federal Government will fund the tariff shortfall through the Nigerian Bulk Electricity Trading Plc and the Market Operator, an arm of the …

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Nigeria is set to partner with and support Hyundai Engineering Company Limited to set up a car plant, and also rehabilitate petroleum refineries, President Muhammadu Buhari has said. Receiving the President/Chief Executive Officer of Hyundai Engineering, Mr. Chang Hag Kim, at State House, Abuja, Tuesday, the President said Nigeria was committed to ensuring energy security …

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Tony-O.-Elumelu

The Board of Directors of the African Development Bank has approved a grant of $5 million to enable the Tony Elumelu Foundation Entrepreneurship Programme to scale up its outreach and impact to 1,000 select youth entrepreneurs. The grant follows the signing of a letter of intent between the Bank and the Tony Elumelu Foundation, which …

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