CBN Releases New Directive for POS Transactions
Central Bank of Nigeria has released a new directive to Payment Service Providers, requiring them to comply with enhanced routing guidelines for Point of Sale (POS) transactions. A circular by Oladimeji Taiwo on behalf of the CBN’s Payments System Management Department, which says the move is aimed at strengthening the monitoring of electronic transactions across […]
President Bola Tinubu has met with King Charles III privately
President Bola Tinubu has met with King Charles III at Buckingham Palace in London, the United Kingdom. Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement yesterday, described the meeting as private, highlighting the enduring and cherished relationship between Nigeria and the United Kingdom. According to the statement, both leaders discussed global and regional matters of shared priority, focusing on the urgent challenge of climate change, while President Tinubu reiterated Nigeria’s commitment to addressing climate change in a manner that aligns with the country’s energy security objectives.
Aviation Workers plan protest for September 18
Aviation workers’ unions plan to stage a peaceful protest next Wednesday, September 18. This is in response to Federal Government’s refusal to reverse its 50 per cent deduction from the internally generated revenues of agencies in the aviation sector. General Secretary of the National Union of Air Transport Employees, Ocheme Aba, and the Deputy General Secretary of the Air Transport Services Senior Staff Association of Nigeria, Frances Akinjole, announced this yesterday in a statement.
Police IG reads Riot Act ahead of Edo election
Ahead of the Edo State governorship election slated for September 21, 2024, the Inspector-General of Police (IGP), Kayode Egbetokun, has issued a stern warning to political actors, supporters, and voters, to play by the rules or face the full wrath of the law. Speaking at the Election Stakeholders’ Meeting in Benin City, Edo on Wednesday, Egbetokun revealed […]
Edo polls: INEC has no candidate – Yakubu
Ahead of the September 21 Edo state governorship election, the Independent National Electoral Commission (INEC) has expressed readiness and strong commitment to conducting a free fair and credible election in the state. The INEC Chairman, Prof Mahmood Yakubu, who gave this assurance in Benin City today, after assessing the level of readiness by the staff the commission […]
Maiduguri Flood Affects Thousands, Presidency Direct Evacuation
President Bola Tinubu has ordered the National Emergency Management Agency to assist the flood victims in Maiduguri. Tinubu in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, described the flood as the worst in recent decades, having displaced thousands of residents and affected facilities such as the Shehu’s Palace, Post office and the Maiduguri Teaching Hospital. The President also called for the immediate evacuation of people from affected areas and assured Governor Babagana Zulum of federal support to address the humanitarian needs of the affected population. Major roads, houses, and shops in Maiduguri metropolis, the Borno State capital, and parts of the Jere Local Government Area have been submerged by floodwaters, and a prison wall located along the Custom area was reportedly broken by the flood, allegedly drowned some inmates while several others escaped for their lives.
VAT Remains 7.5% Reports Financial Minister
Nigeria’s value-added Tax rate remains 7.5 per cent and not 10 per cent, as suggested in some reports making the round. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the clarification in a statement yesterday, saying neither the Federal Government nor any of its agencies will act contrary to what the laws stipulate. Addressing concerns over government actions perceived as burdensome, Edun reassured Nigerians that fiscal policies are designed to promote sustainable economic growth and alleviate poverty, not to hinder them.
FG Exempts Varsities’ Research Grants From TSA
President Bola Tinubu has approved the exclusion of third-party research grant funds of federal universities and research institutions from the Treasury Single Account. This is contained in a letter signed by the Acting Executive Secretary, National Universities Commission, Chris Maiyaki, to Vice Chancellors. Already, the Minister of Education, Prof. Tahir Mamman, has conveyed this directive to the Minister of Finance, Wale Edun, mandating the exemption, which grants universities and research institutions the autonomy to operate their endowment fund accounts in commercial banks.
FG Assures Fuel Crisis will Ease With More Supply
The Minister of State for Petroleum, Heineken Lokpobiri has assured the public that the fuel crisis experienced across the nation would soon be resolved, noting that the Nigerian National Petroleum Company Limited (NNPCL) has sufficient fuel supplies to meet national demand. The Minister of State for Petroleum made this known while addressing State House Correspondent […]
Chinese President pledges $50 Billion For Africa Development
President Bola Tinubu today (Thursday) in Beijing, China, has called for the sustenance of the cooperation drive and emphasized the need for peaceful dialogue, transparent business practices, and diplomatic Conflict resolution in deepening the bond between Africa and China. Speaking at the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) […]
