The Central Bank of Nigeria CBN, yesterday announced it has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The CBN stated this in a circular signed by its Director of Trade and Exchange Department, Hassan Mahmud, and posted on its website on Friday. The circular read,…

Editor Amid the consistent crashing of the Naira against the US Dollar in the parallel market, the Central Bank of Nigeria (CBN) on Friday rolled out stringent measures aimed at curtailing the free fall of the naira. In the new guideline, the apex bank disclosed the share capital of Bureau De Change operators would likely…

Juliet Jacob The Chief of the Nigerian Army expressed his frustration over the situation where bodies are decaying in military morgues due to power outages caused by the military’s N42 billion electricity debt. The Chief of Army Staff, Lt. General Taoreed Lagbaja, raised concerns about the blackouts causing corpses to decay in military mortuaries. This…

Juliet Jacob Rights activist, Comrade Israel Joe has been detained by the Police in Delta state. The activist who was accused of orchestrating a protest against economic difficulties and high living expenses in the state, was handed over to the police who and charged with terrorism. He was apprehended by soldiers at the demonstration in…

In an effort to cushion the effect of the current high cost of living for Lagosians, the Lagos State Governor, Babajide Sanwo-Olu, on Thursday, announced a 25 percent rebate on fares for government-owned transport schemes. The governor spoke during a live media chat to intimate residents of steps being taken to reduce the economic burden…

Governors on Thursday denied a claim by Senate President Godswill Akpabio that the Federal Government disbursed N1.08tn to states to address the food crisis in the country. Oyo State Governor, Seyi Makinde, on Thursday, while reacting to the comment by the senate president during the inauguration of the renovated central mosque in the Iseyin area…

The much expected development intervention in the Southeast region of the country will soon be a reality, with the Senate passing a bill for an agency to fast-track the development of the region. The bill seeking the establishment of the Southeast Development Commission (SEDC) was passed by the Senate on Thursday. According to the bill,…

Jumoke Olasunkanmi The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Adamu Aliyu SAN, has identified corruption as the primary driver behind the current economic challenges plaguing Nigeria. Aliyu, represented by the Secretary to the Commission, Mr. Clifford Okwudiri Oparaodu, made this remark during a courtesy visit by members of…

The Federal Capital Territory Administration, (FCTA) has refuted claims of raising fees in public boarding schools within the federal capital. The Secretary of Education Secretariat of FCTA, Dr. Danlami Hayyo, addressed this issue during an interview with journalists in Abuja on Thursday. This comes after Several parents alleged said that the FCT Administration had raised…

The Senate has kicked against plans by the Ministry of Power to approve the proposed hikes in electricity tariffs by distribution companies. The Senate also rejected plans to remove electricity subsidies given the present hardships in the country. The Senate then called on the government to step down the idea of an increase in electricity…