The Senate Committee on Public Account has been presented with startling reports of how the federal government lost the sum of N387million to a Canadian company. CPCS Transcom Limited, in the course of privatization of the defunct Power Holding Company of Nigeria (PHCN). The office of the Auditor General of the Federation, Anthony Ayine has […]
The inflation rate in Nigeria jumped in December to its highest level in more than three years , data released on Friday by the National Bureau of Statistics showed . Inflation stood at 15. 75 per cent in December , compared with 14. 89 per cent in November , marking the 16th straight month of […]
Consequent upon the outlawing of stamp duty on electronic bank transfer by the Court of Appeal, the Federal Government, through the Finance Act 2020, has introduced Electronic Money Transfer Levy. Finance Act 2020, which was recently signed by President Muhammadu Buhari, has a commencement date of January 1, 2021 along with the 2021 Appropriation Act. […]
The price of leading cryptocurrency , Bitcoin, has reached a record $40, 000 just hours after it sold for $38, 000. The progress began in December 2020 when it broke the $19, 783 price it recorded in 2017. While bearish traders expected that the December rise would drop in no time, Bitcoin continued to rise […]
First City Monument Bank (FCMB) has named a new managing Director following stepping aside of embattled Adam Nuhu. The new chief executive of the bank is Yemisi Edun. Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of […]
Chinese State Councillor and Foreign Minister Wang Yi has cautioned Chinese companies operating in Nigeria to strictly obey the labour laws of the country as well as local customs. Wang, who is in Nigeria on a working visit, gave the directive on Tuesday in Abuja while responding to questions from newsmen shortly after a closed-door […]
US President Donald Trump on Tuesday ordered a ban on Alipay , WeChat Pay and other apps linked to Chinese companies, saying they could route user information to the government in Beijing . The executive order is to take effect in 45 days, just weeks after Trump is replaced in the White House by President […]
The Nigerian Electricity Regulatory Commission, on Tuesday afternoon , said it has not increased electricity tariff by 50 per cent. The Commission, in a statement , said such increment was not contained in the tariff order for electricity distribution companies which took effect on January 1, 2021. It said the tariff for customers being served […]
Former Vice President Atiku Abubakar has given reasons as to why he sold off his shares in Integrated Logistics Services Limited (Intels). He accused President Muhammadu Buhari’s government of destroying his “legitimate business that employed thousands of Nigerians.” But top government sources told Daily Trust Monday night that the claim by Atiku was a tissue […]
Former Vice President of Nigeria , Atiku Abubakar , has sold off his shares in Integrated Logistics Services Limited . This was confirmed in a statement by his media aide , Paul Ibe , titled ‘ Atiku redirects his investment in Intels’ , on Monday . Ibe explained that one of the reasons Atiku sold […]
