Economy
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FOLLOW UP: Caverton Helicopters doubles down with Shell, takes contract suspension case to NCDMB
Caverton Helicopters Limited is lobbying the Federal Government to prevail on Shell Petroleum Development Company to lift the suspension placed on its offshore aviation contract instead of working to address the compliance issues raised by the international oil company. WesternPost gathered that Caverton is using strong arms tactics as an indigenous operator to railroad the Nigerian Content Development and Monitoring…
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Ex Google CEO says virtual work can’t build great management, wants people back in office
After more than two years of remote work and multiple return-to-office delays, most Google employees are heading back to the office at least part-time — and ex-Google CEO and chairman Eric Schmidt couldn’t be happier about it. ″[I]t’s important that these people be at the office, in my view,” Schmidt, 66, tells CNBC Make It, arguing that for decades, the in-office style has been proven effective.…
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ICT currently contributes 17 per cent of Nigeria’s GDP, says Danbatta, NCC vice chairman
Executive Vice Chairman of the Nigeria Communication Commission (NCC) Prof. Umar Danbatta said the ICT industry contributes 17 per cent of the country’s GDP. Danbatta said this at the West Africa Telecommunications Regulators Assembly (WATRA) in Conakry, Guinea. He also handed over as chairman of WATRA to Sekou Oumar Barry of the Republic of Guinea who was elected at the…
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FG seeks third-party gas transportation through joint pipeline
The Federal Government says partners in the Nigeria Liquified Natural Gas (NLNG) should allow third-party suppliers to transport its gas through joint pipeline. Minster of State for Petroleum, Timprye Sylva while speaking with the new Italian Ambassador to Nigeria, Stefano De Leo, said this will increase gas production in the country. Sylva in a statement by his Special Adviser on…
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Senate extends 2021 budget implementation to May 31, 2022
The Senate has extended the implementation year of the 2021 Appropriation Act from 31st March to 31st May, 2022. The extension was approved following the consideration of a bill to Amend the 2021 Appropriation Act. The Senate before considering the bill suspended Rule 78(1) of the Senate Standing Orders 2022 (as amended), to enable the upper chamber to expeditiously introduce…
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41 movies rake in N346.6m for cinemas in March 2022
A total of 41 movies were shown across cinemas in Nigeria, raking in N346.6m in ticket sales in the month of March 2022. This was disclosed by President of Cinema Exhibitors Association of Nigeria (CEAN), Patrick Lee in an interview with NAN. The quoted figure represents an 83.4 percent increase, compared to the N189 million CEAN realised in March 2021.…
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FSRCC warns public over activities of Illegal Financial Operators
The Financial Services Regulation Coordinating Committee (FSRCC) on Monday warned the general public of Illegal Financial Operators (IFOs), stressing that their operation portends grave risk to public confidence and the stability of the Nigerian Financial System. The Secretary, FSRCC in a statement advised the general public to refrain from dealing with unlicensed or illegal financial operators, who lure and defraud…
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Sell-off in MTN Nigeria, 18 others down equities market by N83bn
The stock market of the Nigerian Exchange Limited (NGX) on Monday witnessed profit-taking as the market capitalisation declined by N83 billion to commenced first-day trading activities on weak sentiment by investors. The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Guinness Nigeria, Lafarge Africa, PZ Cussons Nigeria and…
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CITN President Decries Move To Deregulate Tax Practice
The President, Chartered Institute of Taxation of Nigeria (CITN), Mr Adesina Adedayo, has expressed concern over the subtle move to deregulate tax practice in the country through legislation. He also warned that the plan, which he said was spear-headed by another professional body, would erode the standard of tax practice in Nigeria if allowed to sail through the legislature. Mr…
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Foreign investors eyeing National Theatre – Emefiele
Central Bank Governor, Godwin Emefiele said the National Arts Theatre, which is being redeveloped, has started attracting foreign investors’ interest, especially from the United States. Emefiele made this statement during an inspection of the project with members of the Bankers’ Committee. Emefiele was also joined in the inspection by the Lagos State Governor, Babajide Sanwo-Olu, Minister of Information and Culture,…
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