July 23, 2024
National Assembly passes Finance Bill, imposes 70% levy on Banks’ windfall forex profits
The National Assembly on Tuesday passed proposed amendment to the Finance Act which seeks to impose 70% levy on Banks’ windfall forex profits in 2023. The passage of the Finance Act (amendment) Bill followed the consideration of the report of the Joint National Assembly Committees on Finance by both chambers during plenary. The report was […]
WTO: African group votes Okonjo-Iweala for 2nd term
The African Group at the World Trade organisation (WTO) presented a proposal at its General Council (GC) to re-elect Ngozi Okonjo-Iweala as director-general of the organisation. Adebayo Thomas, the Director, Press and Public Relations, Ministry of Industry, Trade and Investment, said this in a statement in Abuja. According to him, the proposal is for members […]
Unfair criticism of Dangote creating bad waves for Nigeria, says AFDB President, Adesina
Akinwumi Adesina, President of the African Development Bank (AfDB), has expressed shock over the Dangote Refinery issue involving Nigerian government agencies, stating that it is generating negative global perceptions of Nigeria. Recently, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority, Farouk Ahmed, said the diesel produced by the $20bn Dangote refinery is […]
Osun, FG partners to improve primary healthcare centres
• Train midwives, adhoc staff on new best practices for service delivery The Governor Ademola Adeleke led Osun State Government and the federal government, has collaborated on ways to fashion out improved healthcare services for the people of the state. This collaborative efforts came into action with the Osun Primary Healthcare Board (OSPHCB) in conjunction […]
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[Just In] Autonomy: Osun Assembly Moves to Amend State Electoral Commission, LG Creation and Administration Laws
Following the recent judgement by the Supreme Court granting financial autonomy to the 774 Local Governments in Nigeria, Osun State House of Assembly today has begun the process of amending its existing laws. The bills slated for amendments include the Osun State Independent Electoral Commission (Amendment No 1) Bill, 2024, and the Osun State Local […]
Tinubu Sends Bill To House of Reps To Amend Police Act, Extend Inspector-General’s Tenure
President Bola Tinubu has requested that the National Assembly assent to a bill seeking amendment to the Police Act. Details of the bill include the amendment of the tenure of the Inspector General of Police (IGP). It would be recalled that in July, the police denied claims that IGP Kayode Egbetokun was making plans to […]
CBN Increases Interest Rate To 26.75% Amid Rising Inflation, Hardship
The Central Bank of Nigeria, CBN, has increased the country’s Monetary Policy Rate (MPR), which is also known as interest rate from 26.25% to 26.75% The Monetary Policy Rate measures interest rates by 50 basis points. The apex bank announced the MPR increment amid sustained rising inflation and skyrocketing food prices and scorching hardship. The […]
Senate Passes New Minimum Wage Of N70,000 Into Law
The Nigerian Senate has passed into the law the newly amended national minimum wage Act. In a speedy way, the bill, scaled first, second and third readings, just minutes after it was transmitted by President Bola Tinubu and was immediately passed by the upper chamber. In what was an unanimous vote after a clause consideration […]
NNPC CEO, Mele Kyari Challenges Aliko Dangote To Name Government Workers Behind Fuel Plant In Malta
Mele Kyari, the group chief executive officer (GCEO) of the Nigeria National Petroleum Company (NNPC) Limited, has challenged billionaire businessman, Aliko Dangote, to reveal the identities of NNPC workers accused of establishing a blending plant in Malta. In a statement he issued via his social media platforms, Kyari maintained that he does not own a […]