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House Queries Banks Over Unremitted VAT on REMITA Transactions

On Thursday, the House of Representatives questioned the management of several deposit banks over the non-remittance of millions of naira in Value Added Tax (VAT) commissions, accrued through the REMITA platform between 2015 and 2022. Chairman of the House Committee on Public Accounts, Hon. Bamidele Salam, presided over the ongoing investigation into alleged revenue leakages […]

Tinubu Hails Economic Reforms as Nigeria’s Trade Surplus Climbs to ₦6.95tn

President Bola Tinubu has welcomed the latest report from the National Bureau of Statistics (NBS), which reveals that Nigeria recorded a trade surplus of ₦6.95 trillion in the second quarter of 2024. This marks a 6.60% increase from the ₦6.52 trillion surplus recorded in the first quarter. In a statement issued by the Special Adviser […]

Ogunlowo Canvasses Flexible Workforce Solutions For Nigerian Businesses

The Managing Director and Chief Executive of Strategic Outsourcing Limited, (SOL) Dr. Femi Ogunlowo has urged businesses to adopt more flexible people management strategies in order to thrive in the increasingly volatile Nigerian economy. Ogunlowo, who was speaking in Lagos on the benefits of the firm’s Temporary Staff Services (TSS) noted that many businesses in […]

FG Secures Over $900m in Landmark Domestic Dollar Bond Issue

In a significant move aimed at bolstering the economy and promoting financial inclusion, the Federal Government of Nigeria has successfully raised over $900 million through its first-ever Domestic Federal Government of Nigeria (FGN) US Dollar Bond issuance. The Debt Management Office (DMO) hailed this achievement as a crucial step in the nation’s economic advancement. In […]

Obi, Otti Seek INEC Validation for New Labour Party Caretaker Committee

The Labour Party’s (LP) presidential candidate in the last general election, Mr Peter Obi, and the Governor of Abia State, Mr Alex Otti, have written to the National Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, to formally notify the regulatory body of the creation of a 29-member caretaker committee tasked with […]

Court Schedules Hearing on Emefiele’s Forfeited Assets for September 12

The Federal High Court in Lagos has set 12 September 2024 for the hearing of all applications related to a lawsuit seeking the permanent forfeiture of assets and funds linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. Justice Deinde Dipeolu scheduled the hearing after considering submissions from the counsels involved in the […]

Dangote Refinery to Begin Petrol Supply by September 15, Prices to Reflect Market Dynamics, Says NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has announced that Premium Motor Spirit (PMS), or petrol, from the Dangote Refinery will begin to flow into the market from 15 September 2024. In a statement issued by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, on Thursday in Abuja, the company revealed that the prices of petroleum […]

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