Category: Business
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“Tinubu has no plans to increase tax rates for Nigerians, says Oyedele.”
Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, confirmed that President Bola Tinubu will not introduce new taxes or increase current rates for Nigerians. Speaking on his X handle, Oyedele, who was appointed by the President in August, elaborated that the committee’s goal is to streamline and reduce taxes…
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Customs and CBN address banks with discrepancies in duty remittance.
On Sunday, the Nigerian Customs Service (NCS) reported that they had recently deactivated two banks due to their negligence in forwarding collected duties. These banks are now under scrutiny by financial oversight bodies, inclusive of the Central Bank of Nigeria. All parties involved are presently in negotiations to address the oversight. Abdullahi Maiwada, the National…
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Tribune Online Tinubu expresses condolences to King Mohammed VI of Morocco following the earthquake disaster.
President Bola Ahmed Tinubu of Nigeria sent a heartfelt condolence to Morocco after a devastating earthquake hit the country on Saturday. The 6.8-magnitude quake resulted in numerous casualties and injuries. Leaders worldwide have offered their support. President Tinubu conveyed his sympathies to King Mohammed VI and the affected families, assuring Morocco of Nigeria’s solidarity during…
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“We’ll safeguard Nigerians from falling into poverty – FG.”
The Federal Government expressed its intent on Friday, emphasizing that its goal extends beyond eradicating poverty—it also aims to shield Nigerians from the risk of poverty. During her two-day visit to Borno State, the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, highlighted this perspective. The statement came via her Media and Publicity…
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Customs sideline banks with remittance discrepancies.
The Nigeria Customs Service, led by acting Comptroller-General Adewale Adeniyi, has temporarily disabled several banks for not remitting collected duties. The announcement was made by the service’s Public Relations Officer, Abdullahi Maiwada. Adeniyi indicated that certain authorized banks hadn’t fulfilled their service agreements related to customs duty and charge remittances, prompting this action. He emphasized…
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Investigation: House of Representatives calls on NIMASA, NPA, NNPC chiefs and others for questioning.
The House of Representatives Ad Hoc Committee on Public Property Disposal convened on Thursday, directing top officials from several agencies to provide explanations concerning the sale of certain public assets. The committee, led by Chairman Julius Ihonvbere, called upon the Director-General of NIMASA, Bashir Jamoh; Nigerian Ports Authority MD, Mallam Mohammed Koko; and Nigerian Customs’…
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NNPCL contests Oando’s purchase of Agip’s oil properties.
The Nigerian National Petroleum Company Limited (NNPCL) has raised objections against Oando Plc’s takeover of the Nigerian Agip Oil Company’s onshore assets in the country. These assets, specifically Oil Mining Leases (OMLs) 60, 61, 62, and 63, were acquired by Oando from Agip, a subsidiary of Eni, allowing the latter to mitigate challenges and simultaneously…
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Police retrieve vehicle taken by Lagos rogue taskforce.
A truck was commandeered last Tuesday in the Mile 2 area of Lagos State by unidentified taskforce officials, later found at the Lagos State Traffic Management Authority’s office. The officials, during their unauthorized midnight patrol, tragically killed a truck driver named Toheeb shortly after he left Tincan Island. When they tried to seize his vehicle…
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Eliminating poverty can halve insecurity, says Government.
On Wednesday, the Federal Government asserted that eliminating poverty in Nigeria would significantly cut the prevailing insecurity rates by more than half. The declaration came from Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, in Abuja. She was addressing the topic while discussing the potential role of the Nigerian Air Force in transporting…
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Report reveals N335m loss for FG due to oil spill.
Between January and August 2023, Nigeria suffered a loss of approximately N335m due to oil spills, as detailed by the National Oil Spill Detection and Response Agency (NOSDRA). The data reveals 168 oil spill incidents during this period, amounting to a total of 5,520 barrels of crude oil. These spills affected 23 oil firms, with…