Economy
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NCC says it’s not responsible to monitor social media content
The Nigerian Communications Commission (NCC) has said it is not the regulator of the contents of the social media networks that many stakeholders have complained about. The submission came during a recent visit of the National Civil Society Council of Nigeria (NCSCN), led by its Executive Director, Blessing Akinsolotu, who sought the intervention of the Commission on the worrisome and…
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Total FX trade at I&E window rise to $1.49bn In March
The Central Bank of Nigeria (CBN)’s non-oil exports repatriation rebate scheme appears to be yielding fruits as investigations reveal that inflows into the Investors and Exporters (I&E) window improved in the month of March. According to data obtained from the FMDQ’s website, total inflows into the I&E window rose by 59.2 percent month-on-month (m/m) to $1.49 billion in March as…
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Buhari sacks NIPC boss Saratu Umar
President Muhammadu Buhari has terminated the appointment of Hajiya Saratu Umar as the Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), with immediate effect. This was contained in a statement by the Special Adviser to the President on Media and Publicity Femi Adesina.In a directive to the Honourable Minister of Industry, Trade and Investment, Otunba Richard Adeniyi…
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Africa’s growth remains low, says World Bank
Growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth, a World Bank report said on Wednesday. In the face of dampened growth prospects and rising debt levels, African governments must sharpen their focus on macroeconomic stability, domestic revenue mobilization,…
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Buhari inaugurates national council to implement Nigeria Startup Act 2022
President Muhammadu Buhari on Wednesday inaugurated the National Council for Digital Innovation and Entrepreneurship with the mandate to guide the implementation of the Nigeria Startup Act (NSA) 2022. Speaking at the inauguration of the 14-member Council chaired by him, the President directed the Secretariat, the National Information Technology Development Agency (NITDA), to ensure faithful implementation of the Act, which provides…
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NCC accelerates broadband penetration to business owners
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reiterated the Commission’s commitment to continually drive initiatives that accelerate broadband deployment to increase penetration and make internet connection readily available to telecom consumers. The EVC stated this at the 10th edition of Business 360 Clinics organised by Abuja Enterprises Agency…
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At United Nations ECOSOC, Nigeria renews call for fair international tax practices
Nigeria has, again called on the United Nations and the International Tax Community to forge an inclusive, equitable, fair and universally beneficial international tax system towards the attainment of the 2030 Sustainable Development Goals (SDGs). Making the call on behalf of the country, Mr. Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service (FIRS) stated this while delivering…
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Ibom Air apologises over anti-Tinubu person on flight
Ibom Air has apologised over the display of an anti-Tinubu passenger on its Abuja to Lagos flight on Friday. In a statement by its Group Manager, Marketing and Communication, Aniekan Essienette the airline said the airline takes the safety of its passengers seriously. The statement reads: “A passenger stood up and began addressing other passengers in a manner considered inappropriate…
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NGX ASI returns 5.81% In Q1 2023, turnover hits N265.48bn
As the market closed for the quarter on Friday, the All Share Index of the Nigerian Exchange Limited returned 5.81per cent for investors, consolidating gains made from the previous year. Within the period, the ASI rose from 51,251.06 basis points to 54,232.54 basis points. Market capitalisation of listed companies also closed higher at N2.54trillion. Despite the uncertainties posed by the…
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Nigeria’s debt grows to N46.25trn In 2022, says DMO
Amid growing prices of food, poverty, and insecurity, Nigeria’s public debt stock grew to N46.25 trillion or $103.11 billion in 2022, plunging the country deeper into a debilitating debt trap following a borrowing spree undertaken by the outgoing Muhammadu Buhari’s administration. The Debt Management Office (DMO) in its latest report on the country’s debt overhang, states that the stock rose…
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