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Money market

Tax reforms have come to stay – Tinubu

Lagos, Dec. 24, 2024 – President Bola Tinubu says the tax reforms initiated by his administration have come to stay. Tinubu said this on Monday evening while speaking on a presidential media chart in Lagos. He said he appreciated the reactions of some Nigerians to the Tax Reform Bills, but said he was convinced that the benefits of the bills far outweighed the concerns raised. “Tax reform is here to stay. Why do you want to know that today? Tax matters are subject to debates, reviews and negotiations until you …

ICT Money market

CBN, NCC direct banks, mobile operators to resolve N250bn debts immediately

Abuja, Dec. 23, 2024 – The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have directed banks and mobile network operators to resolve their lingering N250 billion USSD debt dispute immediately. The CBN and NCC gave the directive in a circular titled “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.” The circular, issued on Dec. 20, 2024, was signed by Oladimeji Taiwo, the Ag Director …

General News

Papal Nuncio Crotty celebrates First Mass at Abuja Pro-Cathedral

By Paul Ejime Abuja, Dec. 23, 2024 – Archbishop Michael Francis Crotty, the Papal Nuncio to Nigeria and ECOWAS, celebrated his first Mass at Our Lady Queen of Nigeria (OLQN) Pro-Cathedral in the Abuja Archdiocese on Sunday, Dec. 22, 2024 with 244 candidates receiving the Sacrament of Confirmation. The Irish diplomat-cum-prelate used the occasion to explain his dual role as representative of Pope Francis, head of more than one billion Catholics worldwide in Nigeria in a religious and diplomatic capacity. The Pope is also Head of State of the Holy …

General News

Biden commutes death sentences of 37 inmates to life imprisonment

Washington, Dec. 23, 2024 – President Joe Biden is commuting the sentences of 37 inmates on federal death row, the White House announced Monday. The move is coming not even two weeks after he went through with the “largest single-day grant of clemency in American history. Biden is commuting sentences of 37 out of the 40 inmates on federal death row, reclassifying their sentences to life without the possibility of parole. The three inmates not included are: Robert Bowers, who is responsible for the mass shooting at the Tree of Life …

Sports

Dabiri-Erewa hails Daniel Ford Foundation for philanthropic gestures

Abuja, Dec. 23, 2024 – Hon. Abike Dabiri-Erewa, the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), has commended Daniel Ford Foundation for its philanthropic gestures to humanity. Dabiri-Erewa made the commendation at the Daniel Ford International Elite Table Tennis Tournament held at the Teslim Balogun Stadium, Lagos. The NiDCOM boss, who was the Special Guest of Honour at the event, commended Mr. Yemi Edun for sponsoring the tournament and empowering the youth in the process.  She also applauded the Lagos State Government for creating the enabling environment for the tournament to hold. …

Business Planning Investment

Nissan, Honda plan to merge, creating world’s No. 3 automaker

Tokyo, Dec. 23, 2024 – Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda’s president, Toshihiro Mibe, said Honda and Nissan will pursue unifying their operations under a joint holding company. Honda will …

Money market

180,000 retired FG workers yet to receive pension benefits

Lagos, Dec. 23, 2024 – About 180,000 federal government pensioners are yet to be paid their pension benefits more than one year after their retirement. Omolola Oloworaran, the Director General of the National Pension Commission (PENCOM), disclosed this at the just concluded workshop for journalists in Lagos. She said the affected pensioners were those who retired from November 2023 to date. The N44 billion released by the federal government in November covered only payment of accrued rights to workers who retired from March to October 2023. The PENCOM boss blamed …

Uncategorized

Oil gains as cooling US inflation points to possible easing

 Singapore, Dec. 23, 2024 – Oil prices rose on Monday as lower-than-expected U.S. inflation data revived hopes for further policy easing, although the outlook for a supply surplus next year weighed on the market. Brent crude futures rose 36 cents, or 0.5%, to $73.30 a barrel by 0421 GMT. U.S. West Texas Intermediate crude futures climbed 39 cents, or 0.6%, to $69.85 per barrel. “Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing,” IG markets analyst Tony Sycamore said, adding that cooler …

Commodities

FG lifts 5-year ban on mining activities in Zamfara State

Abuja, Dec. 22, 2024 -The Federal Government says it has suspended the five-year ban on mining activities in Zamfara State. Dele Alake, the Minister of Solid Minerals Development, disclosed this in a statement on Sunday. “The Federal Government has lifted the ban on mining exploration activities in Zamfara State, citing significant improvements in the security situation across the state. “Nigeria has a lot to gain from reawakened economic activities in a highly mineralised state like Zamfara that is imbued with vast gold, Lithium, and copper belts,” the statement read. “The …

Money market

Group hails FG for servicing IMF debt on schedule, paying ECOWAS levies

The Tinubu Media Volunteers (TMV) has commended President Bola Ahmed Tinubu for paying the community levy of N85 billion and $54 million dues to the Economic Community of West African States (ECOWAS) in one fell swoop.  Nigeria also serviced its 2020 International Monetary Fund (IMF) debt of $3.26 billion with about $1.22 billion in about nine months as revealed by the Debt Management Office (DMO). The group gave the commendation in a statement signed by its Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday. It said both feats were achieved as …