Economy
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MTN, Mafab beat payment deadline, make good on 5G licences
Provisional winners of the 3.5 Gigahertz (GHz) spectrum licence, MTN Communications Nigeria Plc and Mafab Communications Limited, have made their full payment of $273.6 million each for the 5G Spectrum license to the Nigerian Communications Commission. The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, officially confirmed the payment status today, February 24, 2022, just as…
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Restructuring: Each state should control own resources – Adesina
Adeola Ogunrinde President of the African Development Bank, AfDB, Akinwumi Adesina has called for each state to control its resources in Nigeria. Delivering a lecture titled ‘Nigeria — A Country of Many Nations: A Quest for National Integration’, at an event to celebrate the 80th birthday of Enoch Adeboye, general overseer of the Redeemed Christian Church of God, RCCG, on…
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IMF warns FG over proposed N2.55trn fuel subsidy spending
The International Monetary Fund, IMF, has warned the Federal Government over its plan to extend the fuel subsidy regime by 18 months. It said Nigeria will likely depend on overdrafts from the Central Bank of Nigeria to fund its proposed N2.55trillion petrol subsidy bill. The IMF said this in its “Nigeria: Selected Issues Paper” report, which was prepared by a…
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Guide against data theft, Wema Bank MD charges accountants
Wema Bank Managing Director, Ademola Adebise, says accountants in the digital age must be knowledgeable and know how to guide against data theft. Adebise was speaking at the 16th Institute of Chartered Accountants of Nigeria, ICAN, Western Accountants Conference at Ijebu-Ode, Ogun State, on Wednesday. With the theme of the conference as ‘Digital Economy: ‘Whither the Professional Accountant’, Adebise said…
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NCC says AfricaNXT confab objective aligns with vision of technology-driven prosperity for Africa
The Nigerian Communications Commission, NCC, has reiterated its faith in the vision of the AfricaNEXT Conference, AfricaNXT to “co-create a prosperous future for all Africans” through collaborations, conversations and programming that are oriented in harvesting, harnessing and leveraging innovative technologies. “The visualisations and concrete actions of the AfricaNXT conference are in congruence with NCC’s faith in the promise of technology…
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2022 Budget: FIRS to leverage Finance Act 2021 to increase funding
The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. This was stated by the Executive Chairman of the FIRS, Muhammad Nami, on Thursday, while delivering the keynote…
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IMF lists how Dangote Refinery can boost Nigeria’s economic recovery
The International Monetary Fund, IMF, has said the new Dangote Refinery would boost the country’s GDP when it starts operation. In an article published on Monday, IMF said the refinery which is expected to start operations in the third quarter of this year can meet the full demands of domestic consumption of petroleum products in the country. The refinery which…
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