UK Bans Binance In Latest Cryptocurrency Crackdown
Britain’s financial regulator has ordered Binance, one of the world’s largest cryptocurrency exchanges, to stop all regulated activity and issued a warning to consumers about the platform which is coming under growing scrutiny globally. In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s UK entity, “must not, without […]
Osinbajo: Nigerian Government To Tax Profits Made By Google, Twitter, Others In The Country
Vice-President Yemi Osinbajo says the federal government is set to tax profits made in Nigeria by global technology and digital firms not based in the country, but with a significant economic presence. Laolu Akande, vice-president’s spokesman, in a statement on Sunday, quoted Osinbajo as announcing this during an interaction with a delegation of the Chartered […]
Federal, States, Local Government Share N605.958bn
The Federation Accounts Allocation Committee (FAAC) at its virtual meeting on Wednesday night, shared N605.958 billion as federation allocation for May 2021 among the three tiers of government. The money was revenue generated in the previous month of May. The distributed statutory revenue of N428.198 billion received for the month was lower than the N497.385 […]
Oil Spillage: Mobil, NNPC To Pay N82bn Damages As Per Court Order To Akwa Ibom Communities
The Federal High Court, Abuja, has ordered Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC) to pay the oil communities in Ibeno Local Government Area of Akwa Ibom cumulative damages of 81.9 billion over oil spillage. Justice Taiwo Taiwo, in a judgment debt, ordered that the payment must be paid within 14 […]
FG Disbursed $5bn In Five Years To Fight Poverty — Minister
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, has said the Federal Government disbursed over $5bn since 2016 to fight poverty in the country. The minister said the President, Major General Muhammadu Buhari (retd.) since 2016 has backed his pledge to pull 100 million Nigerians out of poverty by committing […]
Air Peace Receives Third Brand New Embraer 195-E2, 10 More Expected By 2022
One of Africa’s fastest growing airlines Air Peace on Thursday took delivery of its third brand new Embraer 195-E2 aircraft. The airline revealed that it will take delivery of all 13 Embraer 195-E2 aircraft it placed firm order for from Embraer Aircraft Manufacturing Company in Brazil by the end of 2022. The airline also said […]
IMF- Nigeria’s Economy, Recovering From COVID-19 Impact
International Monetary Fund (IMF) has announced that Nigeria’s economy is gradually recovering from the negative impact of COVID-19. This is as it advised the federal government to keep reliance on CBN overdrafts for deficit financing within legal limits. The Fund also advised the government to continue to make efforts to strengthen budget planning and public […]
CEO Of Lagos Based Forex Firm Defrauds Over 52 Investors Of N122m
Victims of an alleged scam perpetrated by a Lagos-based forex training and capital investment company, MBA Capital and Trading Limited, are worried over their unpaid dividend and capital, and the disappearance of the Chief Executive Officer, Maxwell Odum. The victims, numbering 52, said the total amount they were defrauded of was N122,510,000, adding that the […]
Nigeria’s Oil Production Hits Record Low In May: OPEC
Nigeria’s crude oil production output hit record low levels in May, the June Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), has shown. The monthly report indicated that in the first quarter of 2021, Nigeria’s average production was 1.410 million barrels per day. April production stood at 1.460mbpd and it […]
Impoverished Community To Gain Grid Access As World Bank Offers $465m
Electricity starved communities in Nigeria would soon be connected to the grid following the intervention of the World Bank. The World Bank Group said it is extending $465 million to support the Economic Community of West African States (ECOWAS) expand access to grid electricity to over 1 million people. The fund will help the subregion […]
