Economy
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Currency depreciations risk intensifying global food, energy crisis, says World Bank
The World Bank has hinted that shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face. The World Bank, in its latest commodity markets outlook report noted that in U.S. dollar terms, the prices of most commodities have…
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CBN to launch new N1,000, N500, N200 notes on Dec 15, Says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday disclosed that the apex bank will on December 15, 2022 begin the circulation of new N1,000, N500, N200 and N100 notes. Speaking at a media briefing in Lagos, Emefiele disclosed that the “new and existing currencies shall remain legal tender and circulate together until January 31, 2023…
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FIRS commences direct collection of taxes from online gaming operators
The Federal Inland Revenue Service (FIRS) has commenced the deduction of taxes at transaction points from online gaming operators, using the Sentinal National Payment Gateway and Electronic Solution. In a Public Notice signed by its Executive Chairman, Muhammad Nami, the Service while directing full compliance by the online gaming community, explained that the Sentinal National Payment Gateway was a transaction…
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NCC offers two more slots on 3.5GHz band for 5G services
The Nigerian Communications Commission (NCC) has put up another two slots of spectrum in the 3.5GHz Spectrum band for auction before the end of 2022, to boost deployment of Fifth Generation (5G) services in Nigeria. The process, which was made public on 21st October 2022 with the publication of the Draft Information Memorandum (IM) for the auction on the Commission’s…
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NCC receives cybersecurity award, seeks safer internet usage
The Nigerian Communication Commission (NCC) at the weekend received a cybersecurity promotion award from the Cybersecurity Experts Association of Nigerian (CSEAN) and called on relevant stakeholders to join hands with NCC to promote safer Internet experience in the country. The award was conferred on the Commission in recognition of its sterling contributions to the protection of telecom consumers from all…
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Siemens visit shows Buhari’s 25,000-megawatt power project on track – BMO
The Buhari Media Organisation (BMO) has described the latest update on the ongoing Siemens power project as another indication that history will be kind to President Muhammadu Buhari. The group said in a statement signed by its Chairman, Niyi Akinsiju and Secretary, Cassidy Madueke that it is heartwarming that the German company is fully committed to delivering and installing 10…
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At the commission of pinnacle petroleum facility, Buhari harps on energy security
President Muhammadu Buhari on Saturday commissioned Pinnacle Oil and Gas FZE Terminal in Lekki, Lagos, saying the operations of the facility have eased congestion in the Apapa area, reduced cost and delivery of petroleum product distribution to many parts of our country. In a video message at the inauguration of the facility, the President congratulated the Chief Executive Officer of…
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Buhari hails Siemens plan to train 5000 Nigerian engineers, restates commitment to power deal
Nigeria remains dedicated to the partnership with Siemens and the German government to improve electricity generation in the country, President Muhammadu Buhari pledged on Thursday in Abuja.Receiving officials of Siemens Energy AG at State House, the President urged them not to relent in ensuring that government’s commitment to Nigerians in delivering the Presidential Power Initiative (PPI) is fulfilled.The President told…
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FG orders MTN, Airtel, Glo, Etisalat to suspend 10% increase in tariff
The Federal Government has directed network service providers to reverse the unilateral upward tariff adjustment. This was contained in a statement signed by Director, Public Affairs, Nigerian Communications Commission (NCC), Reuben Muoka. The statement said that the 10 per cent increase in tariffs didn’t get the approval of the board of the NCC. “The attention of the Nigerian Communications Commission,…
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Governors assemble for broadband awareness forum
Governors from the 36 states are set to discuss how to empower the citizens with latest telecoms technologies as they partake in the maiden edition of Broadband Technical Awareness Forum for Governors (BTAF), put together by the Nigerian Communications Commission (NCC). This was contained in a statement by the Director of Public Affairs, NCC, Reuben Muoka. The programme, which takes…
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