Nigeria
Vai alla Scheda Paese »A man of worth never gets up to unsay what he said yesterday.
— Chinua Achebe
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Nigeria’s tax to GDP ratio unacceptably low – Adeosun
Ifeanyi Onuba, Abuja The Minister of Finance, Mrs. Kemi Adeosun, has said that the nation’s tax to Gross Domestic Product ratio, which is currently put at six per cent, is one of the lowest in the world. She said with such a ratio, which is less than the 15 per ...
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Will Nigeria get out of recession in Q3 as CBN predicted?
I don’t know what indicators they are looking at. I don’t think it is justified because from all critical indicators – inflation, level of ease of doing business, and the power situation that has even compounded most of the problems – there is no sign that all is well. I ...
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Naira may trade around 390/dollar amid CBN interventions
Oyetunji Abioye The naira will trade around 390 against the United States dollar this week as the Central Bank of Nigeria continues the spate of dollar sale. According to economic and currency experts, the local currency may close the week slightly above or below the 390/dollar mark. They argued that ...
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We’ve Already Started Moving Out Of Recession – Finance Minister
The minister of finance, Mrs Kemi Adeosun, yesterday said the nation’s economy has started moving out recession as President Muhammadu Buhari’s- led administration was bringing a lot of efficiency into government spending and infrastructure. Speaking during a flagship programme of Covenant Christian Centre in Lagos, the minister said the government ...
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MTN Nigeria Disengages 280 Staff
MTN Nigeria has disengaged 200 full time employees and 80 contract staff as part of a restructuring exercise in line with its IGNITE transformation initiative to reposition the telecommunications into divers segments of the economy including digital payments, financial technology (FinTech) etc. A source at the company said MTN introduced ...
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Nigeria Loses N380bn Annually From Cashew Export
Nigeria has been losing $5 billion (N380bn) annually from Cashew nut tree by not given deserving attention to it despite having capacity to create enormous wealth for farmers across the country and generate huge foreign exchange for the government. According to data from the National Cashew Association of Nigeria (NCAN), ...
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Obaseki Vows Not To Owe Workers Salaries
Members of the organised labour including the Nigeria Labour Congress, NLC, and Trade Union Congress (TUC) in Edo State yesterday expressed confidence in the policy direction of Governor Godwin Obaseki’s administration. This is as Governor Obaseki also promised that his administration will be prompt in the payment of workers’ salaries ...
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CBN Loans To Banks Drop By 6% To N1.8trn
Loans from the Central Bank of Nigeria (CBN) to banks dropped by 6.7 per cent to N1.8 trillion last week. LEADERSHIP can authoritatively reveal that lending to banks through the CBN’s Standing Lending Facility (SLF) dropped from N1.9 trillion the previous week to N1.8 trillion at the close of business ...
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Gov Umahi suspends Ebonyi Controversial Pension law
The Ebonyi State Governor, Chief David Umahi yesterday suspended the state controversial contributory pension law in the state that provides for 5% payment by the State government and the 8% for workers which led to the suspension of the embattled Nigeria Labour Congress Chairman, Comrade Ikechukwu Nwafor. The State Governor, ...
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Nigeria: Forex - CBN's Intervention to Hit $4.6 Billion Amidst Apprehension Over Investors' Window
[Vanguard] The intervention of the Central Bank of Nigeria (CBN) in the foreign exchange market will this week rise to $4.6 billion, with foreign exchange (forex) operators apprehensive over the new forex window for investors and exporters.
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Labour urges FG to inaugurate committee on minimum wage
The Nigerian labour movement has called on the Federal Government to accelerate the inauguration of the Tripartite Committee for the implementation of the new National Minimum Wage for workers in the country. The President of the Nigeria Labour Congress (NLC), Mr. Ayuba Wabba, and his Trade Union Congress (TUC) counterpart, ...
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Alleged $17bn stolen crude: NNPC, Customs, NIMASA, others have cases to answer, says Reps’ panel
John Ameh, Abuja No fewer than 76 organisations, including International Oil Companies, still have queries to answer over the alleged export of $17bn undeclared crude and gas resources from the country between 2011 and 2014, The PUNCH learnt on Sunday. Among them are key government agencies like the Nigerian National ...
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UNILAG confirms student’s suicide, to meet with family
The management of the University of Lagos, Akoka, on Sunday confirmed the suicide of a 100-level student of Business Administration, Ayomide Ariyibi, adding that it would meet with her family. The Deputy Registrar, UNILAG, Toyin Adebule, added that the student killed herself at home. He said, “She died at home. ...
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Customs destroy N1.3bn imported poultry products
Gibson Achonu, Owerri THE Nigeria Customs Service, Federal Operation Unit, Zone ‘C’, Owerri, says it has seized and destroyed 102,099 cartons of illegally imported poultry products with Duty Paid Value of N1,275,712,500. Briefing newsmen in Owerri, the Customs Area Controller of the FOU, Mohammed Garba, said the seizures was made ...
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Don’t sabotage Nigeria’s economy, Obasanjo tells foreigners
Samuel Awoyinfa, Abeokuta Former President Olusegun Obasanjo has warned foreigners and foreign companies doing business in Nigeria not to engage in sharp practices which can undermine the country’s economy. READ: I make no apologies for treading on toes, says Obasanjo He gave this warning on Saturday in Abeokuta at an ...
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LCCI calls for end to multiple forex windows
Anna Okon The Lagos Chamber of Commerce and Industry has called for an end to the multiple windows in the foreign exchange market, noting that they hurt the economy. The Director-General, LCCI, Mr. Muda Yusuf, made the call in a statement made available to our correspondent on Saturday. “We seek ...
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Oracle varsity, New Horizons unveil 12c in Nigeria
Ozioma Ubabukoh Oracle Incorporated through its learning arm, Oracle University, has introduced 12C, its latest update and the world’s first database designed for the cloud in Nigeria. The company unveiled the service with its global partner, New Horizons. “Oracle Database 12c addresses key challenges of customers who are consolidating databases ...
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Akinyemi advises Fed Govt on cash haul probe
A former Minister of External Affairs, Prof. Bolaji Akinyemi yesterday asked President Muhammadu Buhari not to spare anyone involved in the $43.4 million recovered from a private apartment at Osborne Towers in Ikoyi. He, however, cautioned against putting a foreign intelligence officer on trial in an open court as doing ...
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Sterling Bank’s gross earnings rises by 12% to N28.6b in Q1
Sterling Bank Plc grew headline earnings by 12 per cent to N28.6 billion in the first quarter of 2017 as the bank’s net interest margin improved to 8.2 per cent within the first three months. The first-quarter report released at the weekend showed continuing improvement in the underlying core banking ...
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Obasanjo to expatriates, others: don’t undermine Nigeria’s economy
•Ex-President urges investors to key into economic recovery Former President Olusegun Obasanjo has warned foreign and local firms doing business in Nigeria against engaging in acts that can undermine Nigeria’s economy. Obasanjo counselled the firms that their emphasis should be to make Nigeria self-sustaining in production and consumption, vowing that ...
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Atiku To NGE: Partner With Present Administration
Former Vice President and chieftain of the All Progressive Congress (APC), Atiku Abubakar, has charged the new leadership of the Nigeria Guild of Editors (NGE) to partner with the current administration in the dissemination of government programmes as well as other critical groups in the society to see that our ...