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Breach of contract: Two companies sue FCMB N7billion

Breach of contract: Two companies sue FCMB N7billion

By Demola Abimboye For alleged breach of contract, Sunlek Investment Limited and Sunsteel Industries Limited have dragged First City Monument Bank, FCMB, to a Federal High Court, Lagos, claiming N7billion. In a 126 paragraph statement of claim accompanied by another 27 paragraphs of a witness sworn to on oath and filed before the court by John Olusegun Odubela, a senior ... Read More »

FIRS unveils 2020 Corporate Plan, concludes Management Retreat

FIRS unveils 2020 Corporate Plan, concludes Management Retreat

Nigeria stands at the threshold of a new, transparent, accountable and fair tax regime in which those who make more from the system pay a more equitable share of their income as tax towards the public good, especially in lifting 100 million Nigerians out of poverty in the next 10 years as envisioned by President Muhammadu Buhari. A clear roadmap ... Read More »

Tesla’s stock just had one of the wildest weeks ever – Here’s what happened

Tesla’s stock just had one of the wildest weeks ever – Here’s what happened

By Michael Sheetz, CNBC KEY POINTS • Tesla had a roller coaster week to begin February, with the stock swinging hundreds of dollars in both directions. • Shares ripped higher in two consecutive days of trading after multiple optimistic forecasts for Tesla’s future growth sparked a short squeeze, with the stock roaring roaring to an intraday high of $968.99. • ... Read More »

Fidelity Bank Appoints Independent Non-Executive Director

Fidelity Bank Appoints Independent Non-Executive Director

The Board of Directors of Fidelity Bank Plc has announced the appointment of Alhaji Isa Mohammed Inuwa as an Independent Non-Executive Director of the Bank and has notified the Nigerian Stock Exchange (NSE) of the appointment. Also, the appointment has been approved by the Central Bank of Nigeria (CBN) and took effect from January 22, 2020. Inuwa joins the bank’s ... Read More »

FG to Stop Fish Importation in two years-Agric Minister

FG to Stop Fish Importation in two years-Agric Minister

The Minister of Agriculture and Rural Development, Mr. Sabo Nanono, wednesday disclosed that the federal government will stop fish importation in 2020 and encourage local fish production. Speaking while receiving a delegation from the National Fish Association of Nigeria (NFAN) led by its National President, Dr. Gabriel Ogunsanya in Abuja, the minister stated that time had come for Nigeria to ... Read More »

Ekiti brothers unveil armoured vehicle manufactured locally

Ekiti brothers unveil armoured vehicle manufactured locally

Obasa Specialty Vehicle (OSV), located in Ijero-Ekiti, Ekiti State, has unveiled an all-terrain vehicle named Tekowi. The vehicle, the company said, was manufactured at its factory in Ijero-Ekiti, Ekiti State. *The Ajero of Ijero kingdom (inside the vehicle) with the two inventors The company was commissioned on December 5, 1980 by the late High Chief Joe Oluware Obasa, a car ... Read More »

UK scientists make ‘significant breakthrough’ in race for coronavirus vaccine cure

UK scientists make ‘significant breakthrough’ in race for coronavirus vaccine cure

 Francesca Marshall The scientist leading the UK’s research into a coronavirus vaccine says his team have made a significant breakthrough by reducing a part of the normal development time from “two to three years to just 14 days”. Professor Robin Shattock, head of mucosal infection and immunity at Imperial College London, said the team will now be able to start testing the vaccine ... Read More »

Borno Kick-start Construction of 1000 Housing Units, Schools In Monguno For 89,000 IDPs

Borno Kick-start Construction of 1000 Housing Units, Schools In Monguno For 89,000 IDPs

  By Inusa Ndahi, Maiduguri Borno State Government has commenced construction of 1000 Housing Units to serve as resettlement city for about 89,000 Internally Displaced Persons (IDPs) taking refuge in Monguno Local Government Area of the state. It will also construct a befitting Higher Science and Islamic schools that will accommodate science students and staff from the various Government Science ... Read More »

Youth Restiveness: Borno Commissioned Vocational Training Centre

Youth Restiveness: Borno Commissioned Vocational Training Centre

By Inusa Ndahi, Maiduguri Governor Babagana Umara Zulum of Borno state has on Tuesday commissioned the newly rehabilitated Vocational Training Centre at Mafoni ward of Maiduguri, the state capital. The edifice which is aimed at addressing youth restiveness were rehabilited by an International Non Governmental Organizations (iNGOs), German International Cooperation (GIZ) and European Union (EU) in collaboration with the state government. ... Read More »

African tax officials, experts gather in Abuja for 3-day conference on informal sector

African tax officials, experts gather in Abuja for 3-day conference on informal sector

Tax officials and experts gather to bolster cooperation between tax administrations and discuss the informal sector in African countries and the impediments and solutions to bringing it into the formal economy and into the tax net . PRESS RELEASE BY THE AFRICAN TAX ADMINISTRATION FORUM (ATAF) 04 FEBRUARY 2020, ABUJA, NIGERIA – Informal sector experts and tax administration officials from ... Read More »

I’m under pressure to change statement-Witness tells court

I’m under pressure to change statement-Witness tells court

The fourth prosecution witness (PW4), Abubakar Umar, in the ongoing trial of former governor of Benue State, Gabriel Suswam on Monday, on Monday, February 3, 2020, told Justice Okon Abang of the Federal High Court, Abuja, that he was under pressure to change his statement to favour Suswan. Suswam alongside his former Commissioner of Finance, Okolobia Okpanach, is facing prosecution ... Read More »

JIMI AGBAJE CANNOT TEACH US PLANNING-LAGOS APC

JIMI AGBAJE CANNOT TEACH US PLANNING-LAGOS APC

 Lagos state APC yesterday descended on former gubernatorial flag-bearer  of the opposition Peoples Democratic Party(PDP),Jimmy Agbaje ,describing his criticism of the recent restriction of motorcycles and tri-cycles in the state as puerile and unimaginative. APC spokesman.Hon.Seye Oladejo expressed dismay Agbaje’s futile attempt to teach a government well grounded in intellectual and institutional experience how to plan.” My check revealed Mr ... Read More »

S/African court issues arrest warrant for ex-president Zuma

S/African court issues arrest warrant for ex-president Zuma

A South African court issued an arrest warrant for former President Jacob Zuma on Tuesday, after he skipped court on grounds of needing medical treatment, but the judge stayed the warrant until his corruption trial resumes on May 6. Zuma’s lawyer presented the judge with a sick note from what he said was a military hospital, but the judge questioned ... Read More »

Customs arrest driver with $8.6m cash  at Lagos Airport

Customs arrest driver with $8.6m cash at Lagos Airport

The Murtala Muhammed International Airport Command of Nigeria Customs Service has intercepted over $6.8 million from a passenger at the Lagos Airport.A source close to the Customs said an airport worker linked with the movement of the money has been arrested. A driver working with Nigerian Aviation Handling Company, NAHCO, at the Murtala Muhammed International Airport was immediately arrested by ... Read More »

Maritime security: FG set to deploy integrated architecture – Amaechi

Maritime security: FG set to deploy integrated architecture – Amaechi

…Explains Why Secure Anchorage Was Stopped …Dakuku Says 80% of Deep Blue Assets Ready by June L-R: Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside; Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi; Director, Maritime Safety, Federal Ministry of Transport, FMOT, Mr Paul Adalikwu; and the Managing Director of Nigerian Ports Authority (NPA), Ms. Hadiza Bala ... Read More »

Ignore PDP’s ultimatum on Okada restrictions – Lagos APC

Ignore PDP’s ultimatum on Okada restrictions – Lagos APC

Lagos state APC has urged Lagosians to discounternance the ultimatum given by the opposition PDP to the Lagos state Governor, Babajide Sanwo-olu over the recent restrictions placed on motorcycle and tricycle in the state. The ultimatum is nothing but a comic interlude according to the party spokesman, Honorable Seye Oladejo. Here’s the full statement by the party: Our attention has ... Read More »

Three feared killed as Okada riders, police clash in Lagos

Three feared killed as Okada riders, police clash in Lagos

At least three persons have been feared killed after a fight broke out between commercial motorcyclists and policemen at Ijora in Apapa, Lagos. The fight, which started around 9:30am, was said to have led to destruction of vehicles and other properties in the area. Policemen had gone to the port community to enforce the state government’s ban on commercial cycles ... Read More »

Fighting poverty: What Nigeria can learn from China, India- Okonjo Iweala

Fighting poverty: What Nigeria can learn from China, India- Okonjo Iweala

Dr. Ngozi Okonjo-Iweala, two-time Nigeria’s finance minister who attended the recently concluded 50th World Economic Forum, which held in Davos, Switzerland, spoke on how Nigeria could get out of poverty, taking its cue from how China and India fought (and are still fighting) the scourge. She recommended: “China is phenomenal in eradicating poverty. India has now done so well, so ... Read More »

Report:Banks took N950 billion loan from CBN in three months

Report:Banks took N950 billion loan from CBN in three months

  Commercial and merchant banks took cumulative loans worth N949.91 billion from the Central Bank of Nigeria (CBN) within three months, the apex bank’s quarterly economic report has shown. The report released at the weekend showed that the loans came through CBN’s Standing Facilities meant for the lenders to square up their liquidity positions and meet customers’ needs. The funds ... Read More »

Senate: With 85% VAT Revenue, States Have No Excuse Not to Pay Minimum Wage

Senate: With 85% VAT Revenue, States Have No Excuse Not to Pay Minimum Wage

Determined to make the 30,000 Minimum Wage a reality, the federal government has already conceded between 80 and 85 per cent of revenues accruable from Value Added Tax (VAT) to states to enable them meet their wage obligation. This was contained in the Finance Bill, recently signed into law by President Muhammadu Buhari, leaving the remaining 15 per cent to ... Read More »