Friday , 22 November 2019
Latest News
Home » Economy

Economy

Engagement of private company by Minister of interior to collect CERPAC fees illegal – Court

Engagement of private company by Minister of interior to collect CERPAC fees illegal – Court

A Federal High Court in Lagos in a landmark judgment delivered by the presiding Judge Rilwan Aikawa has declared as illegal the engagement of a private company, Continental Transfer Technique Limited, by Minister of Interior to fix and collect the Combine Expatriates Residence Permit and Alien Card, CERPAC, fees paid by all expatriates in Nigeria as illegal and unconstitutional. It ... Read More »

$83 a Month for Government Workers May Be Too Much for Nigeria

$83 a Month for Government Workers May Be Too Much for Nigeria

By: Anthony Osae-Brown  and  Ruth Olurounbi Tope Ajao earns 18,000 naira ($50) a month cleaning floors at Nigeria’s Ministry of Agriculture. She’ll soon start benefiting from a government decision to almost double the minimum wage — even though it’s not clear her country can afford it. As small as Ajao’s salary looks, Nigeria will struggle to pay the 368,000 government ... Read More »

Solving the Housing Deficit to Affect Nigeria’s Emerging Middle Class

Solving the Housing Deficit to Affect Nigeria’s Emerging Middle Class

By Temitope Emmanuel Olumoyin One sector of the Nigerian economy that has experienced rapid growth despite facing several challenges is the real estate sector. Even in the face of a recent economic downturn, the sector has been developing in leaps and bounds with several buildings springing up, most especially in new locations predicted to become a prime destination in Lagos, Abuja ... Read More »

FG, STATES, LGs SHARE N702.058 BILLION FAAC FOR OCTOBER 2019

FG, STATES, LGs SHARE N702.058 BILLION FAAC FOR OCTOBER 2019

By:ONYEKA AJUMOBI ONOCHIE The Federation Account Allocation Committee (FAAC), has shared a total sum of N702.058 billion as federal allocation for the month of October 2019 among the federal, state and local governments. It was shared at the committee’s monthly meeting on Wednesday, November 20.   From this amount, inclusive of VAT, Exchange Gain and Solid Minerals Revenue, the Federal Government ... Read More »

Maina dumps wheel chair,continues trial supported by two men

Maina dumps wheel chair,continues trial supported by two men

Abdulrasheed Maina, Chairman, defunct Pension Reform Task Team (PRTM), on Thursday, arrived in the Federal High Court, Abuja, for continuation of his trial. Maina, though came into Court 6 without a wheelchair, he was however supported by two men as he walked slowly into the court. The former pension reform boss, who arrived at the court at about 9:30am, dressed ... Read More »

We ‘ll honour all our agreements, Oyetola assures investors

We ‘ll honour all our agreements, Oyetola assures investors

Osun State Governor, Adegboyega Oyetola has assured prospective investors that the state will honour all the agreements made with them. He pledged the administration’s commitment to continue to provide enabling environment for the investors and their businesses to grow and thrive. Governor Oyetola stated this while addressing the participants at the opening ceremony of the State of Osun Economic and ... Read More »

Jonathan worked for APC in Bayelsa to avoid probe in Malabu oil scam-Sule Lamido

Jonathan worked for APC in Bayelsa to avoid probe in Malabu oil scam-Sule Lamido

A former governor of Jigawa State, Sule Lamido, has accused former President Goodluck Jonathan of working against the interest of his party, the Peoples Democratic Party, PDP, in the just-concluded governorship election in Bayelsa State. In a short Facebook post sent by Lamido’s media aide, Mansur Ahmed, the former governor said Mr Jonathan supported the ruling All Progressive Congress, APC ... Read More »

Zulum inaugurates committee to deliver 500 houses; approves ‘owner-occupier’ sale of 2,787 govt houses  ‎

Zulum inaugurates committee to deliver 500 houses; approves ‘owner-occupier’ sale of 2,787 govt houses ‎

By: Inusa Ndahi Borno Governor, Professor Babagana Umara Zulum on Wednesday inaugurated a committee saddled with the responsibility of building a new estate of 500 houses to be started immediately in Maiduguri. The Governor also approved the sales of 2,787 houses in five government estates, to persons who were allocated the houses by successive administrations. Speaking during the committee’s inauguration ... Read More »

FEC approves Euro 500m credit for BOI to create 1.2 million jobs

FEC approves Euro 500m credit for BOI to create 1.2 million jobs

Federal Executive Council on Wednesday approved that 500 million Euro loan be sourced for the Bank of Industry from external creditors. This was disclosed by the Minister of State Finance, Clement Agba, at the end of FEC meeting presided over by President Muhammadu at the Presidential Villa, Abuja. According to him, the The loan is to support industrialisation and agriculture, ... Read More »

Elumelu seeks more jobs for African youths

Elumelu seeks more jobs for African youths

The Founder, Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa Group (UBA), Tony Elumelu   has proposed job creation, and inclusive growth, as priority areas for Africa’s development agenda to achieve peace and stability on the continent. He spoke while on a high-level panel with President of Senegal, Macky Sall and President of Mauritania, Mohamed Ould Ghazouani. Other speakers ... Read More »

Museveni, Fowler, tax experts ponder future of African revenue

Museveni, Fowler, tax experts ponder future of African revenue

* ATAF gave Africa extra $300m tax in 2 years. *$1 billion on the way *Trains 15,000 staff From Ugandan President Youweri Kaguta Museveni, Chairman of African Tax Administration Forum, ATAF, Tunde Fowler and Executive Secretary of African Tax Administration Forum, Logan Wort and specialists in the taxation of digital and online arm of African and global economy, came thoughts ... Read More »

Again, Bill Gates Emerges World Richest Man

Again, Bill Gates Emerges World Richest Man

Bill Gates, Microsoft founder and philanthropist, has again, reclaimed the position of the world’s richest person, according to the Bloomberg Billionaires Index. Gates reportedly has a net-worth of $110 billion. He replaces Jeff Bezos, Amazon founder, at the top spot after Microsoft’s shares went up nearly 48 percent this year. Microsoft’s success this year has been helped by winning a ... Read More »

Nigeria Enlists Big Beverage Companies to Fight Plastic Waste

Nigeria Enlists Big Beverage Companies to Fight Plastic Waste

By: Yinka Ibukun Nigeria is set to engage companies to help fight plastic waste, one phenomenon that has ensured that gutters are blocked and flood is encouraged all over the country, particularly, Lagos state. In Lagos, with 21 million residents whose growing needs have far outpaced the supply of basic services such as electricity, water, and roads, Lagos, Africa’s most ... Read More »

Minimum wage: No Agreement With Labour,says Lagos Govt.

Minimum wage: No Agreement With Labour,says Lagos Govt.

The Lagos state government has disputed the statement credited to the Chairman of the state Joint Public Service Negotiating Council (JNC), Mr Rasaq Falade, that necessary terms of settlement and agreement were reached with the state government at the end of the meeting held on Friday, Nov. 15 According to Mr Biodun Bamgboye, the Permanent Secretary, Office of Establishments and ... Read More »

Nigeria won’t open its borders now — Col. Ali

Nigeria won’t open its borders now — Col. Ali

By Demola Abimboye Nigeria’s neighbours should perish the thought of the giant of Africa opening its borders soon. Colonel Hameed Ali, Comptroller-General of Nigeria Customs Service, NCS, dropped this hint at the graduation ceremony of Senior Course 3 of the NCS Staff College, Gwagwalada, Abuja yesterday. “I know that our neighbours are in a haste to get us open the ... Read More »

Allow Lagos,Ogun to construct Lagos-Abeokuta Expressway,Gov.Abiodun begs FG

Allow Lagos,Ogun to construct Lagos-Abeokuta Expressway,Gov.Abiodun begs FG

Governor  Dapo Abiodun of Ogun state has pleaded with the Federal Government to urgently accede to the demands of both the Lagos and Ogun state governments to reconstruct the  Lagos -Abeokuta expressway  to stem the incessant accident in the axis. An emotional Governor Abiodun wept as he ordered the transfer of victims to tertiary healthcare facilities in Lagos and Abeokuta ... Read More »

US Attorney General says Chinese companies Huawei and ZTE ‘cannot be trusted’

US Attorney General says Chinese companies Huawei and ZTE ‘cannot be trusted’

By Kate Fazzini US Attorney General, William Barr, has written to Federal Communications Commission Chairman Ajit Pai saying Chinese technology giants Huawei and ZTE “cannot be trusted,” CNBC reports. Barr was writing in support of the FCC’s draft Report and Order that would disallow the two companies – which make popular computers, smart phones, routers and internet equipment – from ... Read More »

Court Orders Interim Forfeiture of Alleged Fraudster’s Property in Kaduna

Court Orders Interim Forfeiture of Alleged Fraudster’s Property in Kaduna

By: Owolola Adebola Justice P. Mallong of Federal High Court, Kaduna on Thursday November 14, 2019 ordered the temporary forfeiture of a three bedroom bungalow, belonging to one Yohanna Adamu to the Economic and Financial Crimes Commission (EFCC). Adamu is being prosecuted by the Commission on a one-count charge of obtaining by false pretence to the tune of N2.5million, (Two ... Read More »

EFCC Arraigns Three Alleged Internet Fraudsters

EFCC Arraigns Three Alleged Internet Fraudsters

By: Owolola Adebola The Economic and Financial Crimes Commission, EFCC, today, Thursday, November 14, 2019 arraigned three alleged internet fraudsters; Obaro James Omemi, Ehizojie Slyvanus Omokhuale, Eghosa Atekha Osunde and a company, Seaonus Global Logistics Limited before Justice Oluwatoyin Taiwo of the Special Offences Court sitting in Ikeja, Lagos on a five-count charge bordering on conspiracy to obtain money by ... Read More »

Nigeria, Benin, Niger raise joint team on border reopening

Nigeria, Benin, Niger raise joint team on border reopening

A joint patrol team comprising Nigeria, Benin and Niger Republic will set up a date for the opening of the borders, the countries said on Thursday. The patrol team was set up by the tripartite committee of the three countries on border closure. Foreign Affairs Minister Geoffrey Onyeama, who read a communique at the end of a four-hour meeting, said ... Read More »