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Nigeria targets 80% of revenues from non-oil sector- Fowler

Nigeria targets 80% of revenues from non-oil sector- Fowler

The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler,has said that Nigeria would earn at least 80 per cent of her revenues from the non-oil sector of the economy in the next three years. Fowler who spoke on Tuesday at the Nigeria-Canada Investment Summit in Abuja noted that the non-oil sector contribution to the Nigerian economy has risen to ... Read More »

Ghanaian traders lock up shops belonging to Nigerians, other foreigners

Ghanaian traders lock up shops belonging to Nigerians, other foreigners

Ghanaian traders at Opera Square in Accra on Tuesday locked up shops belonging to foreign nationals involved in retail business. Most of the shops are believed to belong to Nigerians. Premium Times learnt this is the third time such an incident is happening at the same venue; the most recent was in July this year. It is unclear the number ... Read More »

Maina not a responsible citizen, EFCC tells court

Maina not a responsible citizen, EFCC tells court

The Economic and Financial Crimes Commission (EFCC) has claimed the former Chairman of Pension Reform Task Team, Abdulrasheed Maina, is not a responsible citizen but a fugitive of law. The EFCC accused him of stealing allegedly about N3billion pensioners’ fund in what it described as an elaborate grand scam. The EFCC said Maina is a citizen of the United States ... Read More »

Buhari appoints ex CBN Dep Gov as Special Adviser on Finance

Buhari appoints ex CBN Dep Gov as Special Adviser on Finance

President Muhammadu Buhari has approved the appointment of Dr (Mrs) Sarah Omotunde Alade, as Special Adviser to the President on Finance and the Economy, domiciled in the Ministry of Finance, Budget and National Planning. Dr. Alade, who holds BSc (Economics) and PhD in Management Science (Operations Research), retired from the Central Bank of Nigeria (CBN) as Deputy Governor in 2017 ... Read More »

Kidnapping is now a business in Nigeria-Wike

Kidnapping is now a business in Nigeria-Wike

Rivers State Governor, Nyesom Wike, has said that the commercialisation of kidnapping has made it  practically impossible to end the menace in the country. Wike, who made this remark  during a courtesy visit by the Rotary International District 9141, to the Government House in Port Harcourt, explained that since kidnapping had become business, it could only be reduced to the ... Read More »

Lawan says NASS will demand accountability in power sector

Lawan says NASS will demand accountability in power sector

President of the Senate Ahmad Lawan has said that the National Assembly will insist on accountability and transparency in the power sector, particularly in application of funds proposed for it in 2020 budget. Lawan stated this on Monday when the Managing Director of the Niger Delta Power Holding Company (NDPHC) Chiedu Ugbo, led a delegation on a visit to the National Assembly, ... Read More »

The Money Farmers: How Eastern Europe Oligarchs and Populists Milk the E.U. for Millions

The Money Farmers: How Eastern Europe Oligarchs and Populists Milk the E.U. for Millions

CSAKVAR, Hungary — Under Communism, farmers labored in the fields that stretch for miles around this town west of Budapest, reaping wheat and corn for a government that had stolen their land. Today, their children toil for new overlords, a group of oligarchs and political patrons who have annexed the land through opaque deals with the Hungarian government. They have ... Read More »

Dangote plans fuel exports to Europe, others

Dangote plans fuel exports to Europe, others

Dangote Group has said it plans to export petroleum products from its refinery to Europe, South America, West Africa and Central Africa. The company stated this  during a visit by a delegation led by the Minister of State for Petroleum Resources, Chief Timipre Sylva, to the refinery site in Lagos. The Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote ... Read More »

Access Bank offers free one-week instant transfers

Access Bank offers free one-week instant transfers

Access Bank says it is offering its customers free instant transfers for a week. A statement from the bank said this was its way of thanking its customers for their patience and understanding throughout the period of its technology and infrastructure upgrade. The upgrade involved the integration of all Access Bank’s platforms into a new, highly scalable and robust platform. ... Read More »

Senator got 300 NDDC projects, says interim management

Senator got 300 NDDC projects, says interim management

A SERVING Senator is single-handedly handling about 300 contracts for the Niger Delta Development Commission (NDDC), its interim management committee said on Sunday. NDDC Acting Executive Director of Projects, Dr Cairo Ojougboh, said 120 of the contracts have been fully paid for. He, however, did not say if the contracts were executed. He also did not name the Senator. Ojougboh ... Read More »

Obono-Obla fired ‘for going beyond brief

Obono-Obla fired ‘for going beyond brief

FORMER Chairman of the Special Investigation Panel for the Recovery of Public Property (SIPRPP) Mr. Okoi Obono-Obla was suspended because he was found to have gone beyond his mandate, it was learnt at the weekend. Besides, other members of the panel accused him of misconduct. Obono-Obla was nailed, following a recommendation by Attorney-General of the Federation and Minister of Justice ... Read More »

No date yet to reopen borders, says Customs

No date yet to reopen borders, says Customs

THERE is no date yet for the reopening of borders that have been partially closed since August, the Nigerian Customs Service (NCS), clarified on Sunday. The clarification came on the heels of a social media report that the borders would be reopened on January 31. The report referred to a directive by President Muhammadu Buhari to the NCS, setting January ... Read More »

Senate summons Emefiele over differences in exchange rates for projects

Senate summons Emefiele over differences in exchange rates for projects

The Senate Committee on Finance has summoned Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to explain the rationale behind the exchange rates it used for three key projects under the Presidential Infrastructure Development Fund (PIDF). The PIDF projects are being funded to the tune of billions by the Nigeria Sovereign Investment Authority (NSIA), across the country. The ... Read More »

Auctioneers attack Magu over plans to engage foreign firms

Auctioneers attack Magu over plans to engage foreign firms

The Nigeria Association of Auctioneers has chided the Acting Chairman of the Economic and Financial Crimes Commission, Mr Ibrahim Magu, over his announcement that the commission would engage foreign auctioneers to sell the jewellery and houses seized from a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke. The association noted that it was an insult for the commission to attempt ... Read More »

Why Nigeria runs government anticlockwise, by Peter Obi

Why Nigeria runs government anticlockwise, by Peter Obi

Most public office holders across Africa have continued to run governance anticlockwise, a factor responsible for underdevelopment and high rate of unemployment in the country, says former governor of Anambra State, Peter Obi. Aside making bad character the prerogative of the very rich and powerful, Obi lamented that these set of leaders in Nigeria have further insulted the sensibilities of ... Read More »

Buhari extends  border closure to January 31

Buhari extends border closure to January 31

President Muhammadu Buhari has approved the extension of the closure of Nigeria’s border with neighbouring countries to January 31, next year. The exercise code-named operation Exercise Swift Response had resulted in joint border operations by a combined team of security agencies. The Deputy Comptroller of Customs in charge of Enforcement, Investigation and Inspectorate, Victor Dimka, conveyed the Presidential directive in ... Read More »

Omo-Agege backs Buhari on border closure, say it is in Nigeria’s interest

Omo-Agege backs Buhari on border closure, say it is in Nigeria’s interest

Deputy Senate President, Senator Ovie Omo-Agege, on Friday, threw his weight behind President Muhammadu Buhari’s border closure order, saying “it is in the interest of Nigeria as a country.” Omo-Agege spoke at the event organised by Konrad Adenauer Stiftung (KAS), a German Foundation, titled: “The Role of Parliaments in Supranational Communities” in Abuja. “The closure or better management of the ... Read More »

Saudi giant oil company, Aramco to help Nigeria fix refineries, Buhari elated

Saudi giant oil company, Aramco to help Nigeria fix refineries, Buhari elated

    President Muhammadu Buhari with King Salman of Saudi Arabia in Riyadh on the margins of the Future Investment Initiative (FII) conference. Wednesday, October 30, 2019.* President Muhammadu Buhari Wednesday in Riyadh welcomed the commitment of Saudi energy company, Aramco, and Public Investment Fund (PIF) to explore areas of collaboration for investments in Nigeria, including partnership with the NNPC ... Read More »

Nigeria’s unemployment situation frightening —AfDB

The African Development Bank today decried the unemployment situation in Nigeria, saying it was ‘frightening’ and could become ‘catastrophic’ if decent jobs are not created for the country’s youth population. The AfDB made the observation at the regional presentation of a report entitled, ‘Creating decent jobs: Strategies, policies and instruments’, at its office in Abuja. The report, a compilation of ... Read More »

CIBN HONOURS AFREXIMBANK PRESIDENT, BENEDICT OKEY ORAMAH

CIBN HONOURS AFREXIMBANK PRESIDENT, BENEDICT OKEY ORAMAH

From left: Ozo Pat Ifeanyi Oramah, Professor Benedict Okey Oramah, president and Board Chairman of African Export-Import Bank (AFREXIMBANK) and Mr. Wale Tinubu , CEO, Oando, Plc shortly after the conferment of the prestigious Honorary Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN) on Professor Oramah in Lagos on Saturday. Read More »