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Showing posts with the label Business News

FG Accuses LG Chairmen of Embezzling Local Government Fund

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  PRESIDENT BUHARI FLAYS CORRUPTION IN LOCAL GOVERNMENT SYSTEM, PROMISES TO ACT ON NIPSS REPORT ON   STRENGTHENING LOCAL GOVERNANCE

Summary of Business News 1 December. 2022

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S ummary of Business News for 01 December 2022 highlights issues on scarcity and hike in price of fuel, NNPC zero revenue in Sept, stability of the Naira, rising inflation, and other news. Fuel Scarcity: No planned price hike, says FG, queues spread For the first time in weeks since the scarcity of Premium Motor Spirit, popularly called petrol, began, the Federal Government opened up and declared on Wednesday that there was no plan to increase the pump price of petrol, at least during the Yuletide season. However, the government’s comments came amid a worsening and persistent fuel scarcity, which spread further on Wednesday across the country. Also, the cost of the commodity rose to as high as N285/litre in some filling stations in Abuja (__PUNCH). NNPCL flares 100% gas output, earns zero revenue in Sept Despite the federal government’s gas monetization policy and pledge to the United Nations to attain net zero by 2060, state oil firm, Nigerian National Petroleum Company Lt

We will address your concerns over 10 percent tax - Senate President assures soft drink manufacturers

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The President of the Senate, Ahmad Lawan has assured the manufacturers of non-alcoholic beverages in Nigeria that the National Assembly will address their concerns with respect to the implementation of the Finance Act 2022. The Finance Act 2022, among other things, imposes 10 percent tax on non-alcoholic beverages. Top officials of major players in the industry, drawn from Seven-Up Bottling Company Limited, La Casera Company, Rite Foods Limited and Nigerian Bottling Company Limited, complained to the leadership of the Senate on Wednesday that the tax burden could lead to the collapse of the sector. Receiving the visitors in his office, the Senate President assured them that the parliament would look into their complaints particularly with respect to the excise duty. Lawan said: "I have listened to your submissions. I want to assure you that everything that we do as a government, an administration, we do so to promote, to support, to protect and foster businesses in our country. &q

Education and financial literacy as a catalyst for driving financial inclusion - Flutterwave Dotun Adekupnle

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Branded Content: Seamless Identity Management Necessary for Financial Inclusion in Nigeria, Flutterwave’ Offline Business Head Flutterwave’s Senior Vice President of Offline Business, Dotun Adekunle, has stated that “innovative and seamless identity management systems open doors of financial services to underserved demographics like youth and women, across Nigeria.” He said this at the maiden edition of Nigeria’s International Financial Inclusion Conference, a Central Bank of Nigeria initiative. The conference which spanned 23rd to 24th November 2022 sought innovative ways to make financial services solutions available to rural areas, women and young people.  Other panelists include Ms. Olasimbo Akinsorotu, Chief Youth Development Officer at the Enterprise Development and Promotion Department of the Ministry of Youths and Sports Development; Mr Abisola Onigbogi, Executive Director, Technical for ARM Pension Managers (PFA) Limited; Farida Tahir, CEO of Grassroot Microfinance Bank Limite

Email addresses of the Aggregators for the FG CAC Free Business Names Registration

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FREE 250,000 FEDERAL GOVERNMENT BUSINESS NAMES REGISTRATION FOR MSMEs Please find below the email addresses of the Aggregators for the FG Free Business Names Registration : 1. ABIA [email protected] 2. ABUJA-FCT [email protected] 3. ADAMAWA [email protected] 4.AKWA IBOM [email protected] 5. ANAMBRA [email protected] 6. BAUCHI [email protected] 7. BAYELSA [email protected] 8. BENUE emmanueldo[email protected] 9. BORNO [email protected] 10. CROSS RIVER [email protected] 11. DELTA [email protected] 12. EBONYI [email protected] 13.EDO [email protected] 14. EKITI [email protected] 15. ENUGU [email protected] 16. GOMBE [email protected] 17. IMO [email protected] 18. JIGAWA [email protected] 19. KADUNA [email protected] 20. KANO [email protected] 21. KATSINA [email protected] 22. KEBBI [email protected] 23. KOGI [email protected] 24. KWARA [email protected] 25. LAGOS [email protected]

List of Aggregators and State Focal Persons for the Free FG CAC Business Name Registration for MSMEs

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LIST OF AGGREGATORS AND STATE FOCAL PERSONS FOR THE FREE 250,000 FG/CAC BUSINESS NAMES REGISTRATION FOR MSMEs 1.YOBE STATE MOHAMMED SAJEJ AJERE 08034243245 [email protected] 2.BORNO STATE ALKALI MOHAMMED UMAR No.1,NHISBuilding,Damboa Road, Maiduguri, Borno State 07032807091 [email protected] 3.RIVERS STATE Felicia Zidougha No.10,PicGreenVillageEstate, Akpajo, Portharcourt, Rivers State 08134471316 4.IMO STATE EMEKA GEOFFREY NWOKORIE Plot41,Chief Solomon Close, New Owerri,Beside Ojukwu Library, Owerri, Imo State 08033461826 5.ZAMFARA STATE SHEHU JARI ABUBAKAR Yarima Quarters, Kaura Namoda, Zamfara State 07066572766 6.GOMBE STATE MUHAMMAD MUSABABA Sakin Bolari Street, Gombe,GombeState 08138400118 [email protected]@yahoo.com 7.NASARAWA STATE MOHDINUWA YAHAYA Ta’al Model E-Library, Nasarawa State 07037625935 8.NIGER STATE HON.DANJUM AMANI NaMuye Transport Service, Opposite Newsline Tunga, Minna, 08036002690 9.EDO STATE UZIEWE NELSON ENAKENO 6 Ero Drive,Off Maho S

Free 250,000 FG-CAC Business Names Registration for MSMEs

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FREE 250,000 FGN BUSINESS NAMES REGISTRATION FOR MSMEs: Business formalisation Support of the MSME Survival Fund

First Bank FirstAdvance Salary Loan Application Form and Eligibility

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First Bank FirstAdvance Salary Loan Application Form and Eligibility FirstAdvance is a digital lending solution designed to offer convenient and easy access to cash for payroll customers awaiting payment of their salaries. Loan Description FirstAdvance is a loan facility meant for salary earners whose accounts are domiciled with FirstBank and have received regular salaries in the last six months or more.  Maximum amount accessible is N500,000.00 subject to 50% of net average three months salary, whichever is lower. The eligible amount is calculated after deducting all other loan obligations to the Bank.  This product can be accessed via our digital channels: FirstMobile App and USSD transaction code. FirstAdvance Features Salary account must be domiciled with FirstBank Loan amount of up to 50% of net monthly income. Tenor is 30 days or next pay day [whichever comes first] Maximum single obligor limit of N500,000.00 Interest rate @ 2.5%flat collected upfront Management fee @ 1.0% flat C

First Bank FirstCredit Loan Application Form and Eligibility

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First Bank FirstCredit Loan Application Form and Eligibility FirstCredit is a product designed to provide you with a quick and simple loan to fund your transactions.  Loans can be accessed from anywhere without visiting the Bank. FirstCredit Benefits Easy and convenient access to loans to meet needs. Quick loan request and disbursal No physical documentation required. No collateral required No hidden fees FirstCredit Features Customer’s account must have been operational in FirstBank for at least 6 months. Customer must be linked to a valid BVN. Customers must have correctly updated phone numbers Customer must have positive credit record with Credit Bureaus. Minimum Loan Amount: N1,000 (One Thousand Naira) Maximum Loan Amount: N300,000 (Three Hundred Thousand Naira) Loan Tenor: Maximum of 30 days Interest Rate: 10% flat Insurance:  1% per transaction A penal charge of 1% monthly and daily interest of 0.3% applies upon default Interest on disbursed amount will be taken upfront on loan

How to Run Social Campaign with MTN Thryve Ads

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Summary of Business News 24 November 2022: CBN New naira, Reuters News, Others

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Here are the newspapers business news summary for today Thursday 24 November 2022 Summary of Business News 24 November 2022 New naira: CBN, EFCC to track large withdrawals The Governor of the Central Bank of Nigeria, Godwin Emefiele has said that it would work with law enforcement agencies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, to complicate and track large withdrawals. He said this while briefing the press after the launch the new Naira banknotes in Abuja on Wednesday.   At the briefing, Emefiele said that the amount of money that can be withdrawn from the counter would be reduced drastically, adding that bulk withdrawals would require several procedures and security checks to track use - PUNCH .   TCN seeks Gencos, Discos support on grid collapse The Transmission Company of Nigeria has blamed the power generation and distribution companies for the repeated collapse of the national e

Nigeria Business News Thursday, 24 November 2022

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Here are your top 5 business  news items in Nigeria for Thursday, 24 November 2022. Get the details bellow. (Naira Redesign | Excess Crude Account | Oil Production | Withdrawal Monitoring | Fuel Scarcity) Naira Redesign N165bn back in banks as Buhari unveils redesigned Naira One hundred and sixty five billion old naira notes have so far been absorbed by commercial banks since the announcement of the planned launch of new naira notes on October 26. Director Currency, Central Bank of Nigeria (CBN), Ahmed Bello Umar, made the disclosure in Abuja at a post-Monetary Policy Committee media briefing. According to him, the amount deposited thus far was small compared to what the apex bank has anticipated. He also revealed that the apex bank will from Thursday, begin reticulating the new naira notes to all its branches across the country since the currency has been officially launched by President Muhammadu Buhari at the presidential villa on Wednesday. He added that the new notes w

Newspapers Summary of News 23rd November: CBN raises interest rate, new naira notes, and others

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Newspapers Summary ofNews 23rd November: CBN raises interest rate, new naira notes, and others CBN raises interest rate to 16.5% The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year on Tuesday, November 22, 2022. The MPC said the tightening would curb a higher rate of inflation and restore investors’ confidence (PUNCH).   New naira notes for circulation before Dec 15 The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the President, Major General Muhammadu Buhari, will unveil the new naira notes during the weekly Federal Executive Council at the Presidential Villa on Wednesday. He also said the new notes would go into circulation before the December 15, 2022 date earlier stated by the central bank. He made t

Today’s News Highlights on Monetary Policy Rate | Naira Redesign | North-East Oil Project | Fuel Scarcity | Capital Market Master Plan

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Here are your top 5 business news   items for the day 23rd November, 2022. Today’s Business News Highlights on Monetary Policy Rate | Naira Redesign | North-East Oil Project | Fuel Scarcity | Capital Market Master Plan Monetary Policy Rate 16.5% interest rate: Private sector predicts factories shutdown, higher bad loans The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 15.5 to 16.5 per cent in order to rein in inflation and maintain economic stability. Speaking at the end of a two-day Monetary Policy Committee meeting on Tuesday in Abuja, the CBN Governor, Godwin Emefiele, said the committee voted to raise the rate to 16.5 per cent while retaining the asymmetric corridor of +100/-700 basis points around the benchmark interest rate, also known as the monetary policy rate. He said the MPC also voted to retain the cash reserve ratio at 32.5 per cent and the liquidity ratio at 30 per cent. Operators in the nation’s manufactu

EFCC Presents N41.1bn 2023 Budget Proposal to House of Reps

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The Economic and Financial Crimes Commission, EFCC , on Tuesday, November 8, 2022, presented an estimate of N41,120,071,521.75 (Forty One Billion, One Hundred and Twenty Million, Seventy One Thousand, Five Hundred and Twenty One Naira, Seventy Five Kobo) as its budget for the year 2023 to the House of Representatives Committee on Financial Crimes. A breakdown of the estimate shows the sum of N36,834,903,804.75 (Thirty Six billion, Eight Hundred and Thirty Four million, Nine Hundred and Three Thousand, Eight Hundred and Four Naira, Seventy Five Kobo) only as Personnel cost; while the sum of N3,835,460,631.00 (Three Billion, Eight Hundred and Thirty Five Million, Four Hundred and Sixty Thousand, Six Hundred and Thirty One Naira) is for overhead, and N530,707,086.00 (Five Hundred and Thirty Million, Seven Hundred and Seven Thousand, Eighty Six Naira) earmarked as Capital vote. Presenting the budget before the Committee, the Executive Chairman of the Commission, Abdulrasheed Bawa, gave an