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The Senate and House of Representatives Committees on Petroleum Upstream, Downstream and Gas Development yesterday queried the N30b recurrent expenditures of the parastatals under the Ministry of Petroleum Resources. Of particular concern to the lawmak...
Monetary Policy Rate (MPR), otherwise known as benchmark interest rates will not be raised when the Monetary Policy Committee (MPC) meets for the first time this year as a result of the first round of inflationary effects from the removal of fuel subsi...
The Senate yesterday confirmed an upward review of the crude oil benchmark from $70 to $75 per litre for the purpose of the 2012 budget as requested by President Goodluck Jonathan The confirmation came against the backdrop of senate’s approval of...
The Vice President for Africa Region at the World Bank, Ms Obiageli Ezekwesili, would be leaving that post in May this year, according to the World Bank President, Bob Zoellick, in a statement from the Washington DC headquarters of the organisation . A...
Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has called on Nigerians not to allow the nationwide protest against the removal of fuel subsidy override national security. Amadi who made this call in an exclusive inter...
The Nigerian Communications Commission (NCC) has begun an audit of Fixed Wireless Access (FWA) spectrum which was licenced in May 2002 and issued to indigenous companies to provide wireless internet and data services. The audit is to ascertain th...
As the country wakes up to the removal of fuel subsidy, indigenous airlines are still enjoying a boost in their operations due to increased passenger traffic following the holiday period. However, cost of car hire services have increased more than 200 ...
Central Bank of Nigeria (CBN) has sold N64.56 billion worth of 91-day and 182-day treasury bills yesterday, the bank said in a statement. The statement said that the instruments were sold on Wednesday, December 28.It said that out of the amount, it sol...
Managing Director and Chief Executive Officer of Enterprise Bank Limited (EBL), Ahmed Kuru, discussed the workings of the bridge bank and its future with Business Editors. Blessing Anaro was there. Excerpt As a bridge bank, are you expected to bu...
The Central Bank of Nigeria(CBN) has said that banks operating within the Federal Capital Territory recorded a 74.16 per cent fall in cheque transactions within a period of one year. Giving the figure at the weekend in Abuja, the Branch Controller, CBN...
The Nigerian Communications Commission (NCC) has denied fixing December 31, 2011 as deadline for Subscriber Identification Module (SIM) card registration saying until the ongoing harmonisation between operators and the regulator was completed, th...
African culture has always included a system of dispute resolution, which ensures that all parties have a chance to be heard and are fairly dealt with in the process of revenue collection. Tax Administrations/Revenue Collecting AuthoritiesMore than any...
Concerned about the possible impact the financial crisis in parts of Europe could have on the economy, the emir of Dutse, Alhaji Nuhu Muhammadu, has warned Nigeria’s political class against the misapplication of the country’s resources. Han...
As part of effort to provide transport system in the rural areas to fast track easy mobility of agricultural produce, the World Bank yesterday disclosed that it would inject $190 million in its Rural Access and Mobility Project(RAMP) in the count...
Sequel to the ongoing reforms in the nation’s capital market, some market operators have agreed that the expected gains from the reforms would be much visible in 2012, just as it would lead to the growth and development of the market. They said t...