Economy
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Nigeria, Africa should have capacity to manufacture vaccines – Okonjo-Iweala
Director General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala has said Nigeria and the rest of Africa must build on their capacity to manufacture vaccines. She said this when she visited the Ministry of Industry, Trade and Investment, in Abuja on Tuesday. The visit was a follow-up to the 12th WTO ministerial conference that took place in Geneva, Switzerland.…
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N1m up for grabs as X3M Ideas organises first ‘Idea Hackathon’
Pan-African creative advertising agency, X3M Ideas has announced the first edition of its novel creative contest, ‘Idea Hackathon.’ As part of a series of set activities, in celebration of the company’s 10th anniversary, the contest which is open to the general public between the ages of 18 and 40, is built on providing solutions to real-life problems in the marketing…
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BREAKING: MPC increases interest rate to 14%
The Monetary Policy Committee (MPC) members of the Central Bank of Nigeria (CBN) on Tuesday voted to increase the Monetary Policy Rate (MPR) or interest rate by 100basis points to 14 per cent from 13 per cent. The Committee also voted to retain the Cash Reserve Requirement (CRR) at 27.5per cent, liquidity ratio at 30per cent and asymmetric corridor around…
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VIN Policy impasse, Customs set to auction 7,000 uncleared vehicles at Lagos Ports
Nigeria Customs Service (NCS), has sent notices to importers of uncleared vehicles at the various ports and bonded terminals in Lagos to come and take their vehicles out before the agency auction them out. Importers and clearing agents have been at loggerheads with Customs over compliance with the newly introduced Vehicle Identification Number (VIN) valuation policy which they alleged has…
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Court stops appointment of Nnamdi Okonkwo as GMD, FBN Holdings
A Federal High Court sitting in Lagos has ordered FBN Holdings Plc. to maintain the status quo ante bellum, by putting on hold the appointment of Mr. Nnamdi Okonkwo as the Group Managing Director. The court also directed the financial institution to suspended appointing of Mr. Julius Omodayo Owotuga as non-Executive Director. Justice Akintoye Aluko on Friday granted the order…
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Abiodun commissions sub-Sahara Africa’s first fibre optic cable factory in Ogun
…says poineer factory will boost administration’s ICT innovation The Ogun State governor, Dapo Abiodun on Thursday inaugurated the first fibre optic cable manufacturing factory in West Africa and the fifth in Africa, declaring that the factory would be a further boost to his administration’s innovation and development of its digital economy infrastructure. Speaking at the inauguration of the Coleman Wire…
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Tinubu congratulates Rabiu on reappointment as France-Nigeria Business Council president
Presidential Candidate of the All Progressives Congress Asiwaju Bola Tinubu has congratulated Chairman of BUA Group Abdul Samad Rabiu on his reappointment as President of the France Nigeria Business Council by French President Emmanuel Macron. Tinubu sent his congratulatory message in a statement on Wednesday. “Yet another feather to an illustrious, industrious Nigerian, billionaire industrialist and philanthropist, Alh. Abdul Samad…
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FAAC disbursed N722.38bn to FG, States, LGs, says NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that the Federation Account Allocation Committee (FAAC) disbursed N722.38billion to the three tiers of government in March 2022 from the total revenue generated in February 2022. According to the report by NBS, the amount disbursed comprised N457.03billion from the Statutory Account, N80billion from Non-oil Excess Account, N7.48billion as Excess Bank Charges,…
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Buhari congratulates BUA chairman on reappointment as France-Nigeria Business Council president
President Muhammadu Buhari has congratulated Chairman of BUA Group, Abdul Samad Rabiu, on his reappointment as President of the France-Nigeria Business Council by the President of France, Emmanuel Macron.Buhari’s congratulatory message was sent in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu. He commended Rabiu for his very pivotal role in nudging forward the objectives…
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FIRS commences full-scale enforcement on defaulting taxpayers
The Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS) would immediately commence a “full scale Enforcement Exercise” on defaulting taxpayers. This was disclosed in a statement by the Special Assistant to the Executive Chairman of the FIRS, Johannes Wojuola on Tuesday. According to the statement the decision was “upon the effluxion of the amnesty provided…
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