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Tag Archives: business

FG Okays Commercialisation of FHA

The National Council on Privatisation (NCP) has approved the commercialisation of the Federal Housing Authority (FHA). Consequently, the Minister of Lands, Housing and Urban Development had been appointed to chair the steering committee constituted to work out details of the exercise. This was one of the fallouts of a recent meeting of the Council, which was held in Abuja. The NCP said the decision was ... Read More »

FG Releases N200b Capital For Q2

The federal government has released N200 billion capital budget for the second quarter of 2013. The Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala said in a statement that this will ensure further progress in the execution of capital projects captured in Budget 2013. The minister also said it has paid a total of N72.7 billion to the Federal Ministry of Power so far this year to cover various items in line with ... Read More »

NCC Queries GSM Firms For Poor Service

ALL trunks are busy; please try again later.” “Your call cannot be completed now; please try again later.” “The number you have dialled is incorrect; please check the number and dial again.” Mobile telephone service quality has hit an all-time low. Not only subscribers are worried; the regulators are also disturbed. The Nigerian Communications Commission (NNC) has written to all the network operators to explain ... Read More »

FG Rules Out Supplementary Budget For Military Operations

Minister of Finance, Ngozi Okonjo-Iweala, on Monday said the Federal Government had no intention to prepare another supplementary budget to provide funding for military operations in the three states that have been under emergency rule since last week. The minister, in a statement by her Special Adviser, Communications, Mr. Paul Nwabuikwu, noted that a Contingency Vote had already been built into the 2013 budget to ... Read More »

Customs Arrest Suspects With $2.7m At Lagos Airport

Murtala Muhammad Airport Command of the Nigeria Customs Service has intercepted $2.7m (or N432m) from five suspected money launderers while attempting to travel abroad. The Public Relations Officers of the command, Mrs. Thelma Williams, told theNews Agency of Nigeria on Monday in Lagos that the arrests were made between January and March 2013. She said the command also arrested 12 suspects with $13.8m (N2.2bn) dollars from ... Read More »

Inflation: Will CBN Shift Ground on MPR Tomorrow?

The die is cast as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meets tomorrow to review the nation’s economy and come up with a new monetary policy rate. Analysts are, however, divided on whether the time is ripe or not for the apex bank to soften its stance on the rate, reports  Festus Akanbi Economic statistics reeled out by various ... Read More »

NPA Restricts Movement Into Lagos Ports

The Nigerian Ports Authority has said as from Tuesday next week only people with electronic port pass or means of identification issued by the approved authorities will be allowed into the ports in Lagos. General Manager, Western Ports, Miss Adenike Sonaike, who said this in Lagos in a statement on Friday, said the measure became necessary to check the influx of people at the ports. ... Read More »

350,000 Companies In Nigeria Not Paying Taxes – FG …To Introduce e-payment For Tax Collection

THE Federal Government has lamented the high incidence of tax evasion in the country as it observed that more than 350,000 companies are not paying tax. To capture more companies and individuals in the wider tax net, the government is considering   the idea of E-payment in the country. Minister of state for finance, Dr Yerima Ngama disclosed this on Thursday, in Abuja while presenting a ... Read More »

Subscribers demand compensation from GSM operators

Deolu Ogunbanjo of the National Association of Telecommunications Subscribers (NATCOMS) on Tuesday called for compensation from GSM service providers over poor services. Ogunbanjo, the President of NATCOMS, made the call in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that subscribers had endured the poor services enough and that the association would no longer tolerate further exploitation. The NATCOMS chief ... Read More »

SON Begins Review Of Standards For LPG Cylinders

The Standards Organisation of Nigeria has said that it would pursue the requalification exercise for Liquefied Petroleum Gas cylinders in the country The Director General, SON, Dr. Joseph Odumodu, disclosedis in Lagos that it has become imperative to tackle the menace associated with the LPG cylinders, a statement from the agency on Friday indicated. According to him, aside enhancing safety of lives and property in ... Read More »

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