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Embrace skills, entrepreneurship, over white-collar jobs, Kwara urges youths

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Nigeria's external reserves rise to $36.89bn — CBN gov
Economy

Naira climbs to N1,541.52 against US dollar at I&E window

The exchange rate between the naira and the US dollar appreciated to N1,541.52 at the official Investor and Exporter window on Friday. This marks a 0.16% increase from N1,544.02 recorded on September 19, 2024, as the naira seeks to stabilize within the N1,500 range. The naira closed at N1,541.52 on September 20, 2024, reflecting a […]

News

FG initiates talks with Libya for gas pipeline project

The Nigerian government has initiated discussions with Libya for the construction of a gas pipeline project between the two countries. This was disclosed by the Minister of Petroleum (gas), Ekperikpe Ekpo, during a meeting with the Libya’s Minister of Oil, Dr. Khalifa AbduAlsadik, on the sidelines of the Gastech Exhibition and Conference 2024 holding in […]

Hacker group Lockbit leaks Boeing data
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Boeing defense chief to step down from role

The head of Boeing’s defense unit, Ted Colbert is leaving the company effective immediately, according to CEO Kelly Ortberg. Ortberg made this disclosure in a staff memo on Friday, according to CNBC. This marks Ortberg’s first significant executive change since he assumed the role in early August, according to CNBC “At this critical juncture, our […]

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Lagos demolishes illegal structures blocking drainage channels

The Lagos State Government has resumed the demolition of illegal structures obstructing the System 63b drainage channel in Sangotedo, Eti Osa, as part of its ongoing initiatives to mitigate flooding in the area. This action is part of a broader strategy aimed at enhancing drainage systems throughout the region. This was disclosed by the Lagos […]

News

FG partners Russian consortium to revive Ajaokuta steel plant

The Federal Government of Nigeria, through the Ministry of Steel Development, has signed a Memorandum of Understanding with a Russian consortium to rehabilitate and operate the Ajaokuta Steel Company and the National Iron Ore Mining Company. This agreement, formalized during a visit by Minister Prince Shuaibu Abubakar Audu to Moscow, represents a significant step in […]

News

CBN temporarily withdraws policy guidelines amid media misrepresentation

The Central Bank of Nigeria has announced the temporary withdrawal of its Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the fiscal years 2024-2025. This decision follows widespread misrepresentations in the media that have led to confusion among stakeholders. This was disclosed in a statement on CBN’s website on Friday. According to the statement, […]

News

FIRS addresses challenges in Nigeria’s tax reforms

The Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji addressed Nigeria’s recent tax reforms on Wednesday, as industry leaders discussed both progress and challenges. Adedeji, represented by the Acting Director of the Medium Taxpayers Department, South, Oti Olaniyi described the restructuring of the FIRS as a customer-centric shift aimed at enhancing efficiency and […]

News

Keyamo issues 24-hour ultimatum to NCAA on air ticket refunds

The Minister of Aviation and Aerospace Development, Festus Keyamo, has issued a 24-hour ultimatum to the Nigeria Civil Aviation Authority to address issues concerning air ticket funds held by certain airlines, particularly those that have suspended operations recently. Keyamo’s directive emphasizes the need for swift action to resolve the situation and protect consumer interests. Keyamo […]

90% of Nigeria's tax revenue comes from nine sources – Wale Edun
News

Nigeria’s nominal GDP reaches N60.93tn in Q2 – FG

The Federal Government has reported that Nigeria’s nominal Gross Domestic Product reached N60.93 trillion in the second quarter of 2024, indicating notable improvements in the economy. Additionally, it reaffirmed its commitment to implementing policies aimed at identifying inefficiencies and ensuring resources are allocated effectively. This was disclosed by the Permanent Secretary of the Federal Ministry […]

News

NRC reports N1.69bn from train passengers in Q2 2024 

The Nigerian Railway Corporation has announced a 53.14% increase to N1.69bn in revenue from passenger transport for the second quarter of 2024. According to the latest figures from the NBS, the total revenue generated from passenger transport during this period reached N1.69 billion, an increase from N1.10 billion in the same quarter of 2023. According […]

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CBN targets N50bn from cybercrime levy

The Central Bank of Nigeria is expected to generate around N50 billion by the end of 2024 from the newly implemented 0.005 percent cybersecurity levy on electronic transactions, according to economic analysts. The Head of Research, FMDQ Group Plc, Vincent Nwani stated, “The CBN is expected to raise N50bn from the cybersecurity levy by 2024.” […]

New SEC regulation to enhance transparency in bank recapitalization
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SEC to enhance NGX listings with govt-owned enterprises

The Securities and Exchange Commission has urged government agencies and state-owned enterprises to consider listing on the Nigerian Exchange Ltd. The Director-General of SEC, Emomotimi Agama, disclosed while addressing pressman in Abuja on Thursday, according to NAN. Agama emphasized that listing on the Nigerian Exchange Ltd. would enhance transparency and promote the democratization of operations […]

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