The Federation Accounts Allocation Committee on Friday said it shared a total of N616.87bn as April 2021 revenue to the Federal, States and Local Governments as well as other relevant agencies in Nigeria. The Office of Accountant General of the Federation disclosed that the shared revenue was contained in a communiqué issued by FAAC after its monthly meeting for April …
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The Nigerian Communications Commission has denied reports that mobile subscribers will be required to submit the international mobile equipment identity (IMEI) of their phones to it from July, 2021. In a statement on Friday, the Director of public affairs of the NCC, Ikechukwu Adinde, said the commission did not at any time issue a statement regarding the registration of IMEI …
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The Nigerian Communications Commission has said that subscribers do not have to submit their International Mobile Equipment Identity numbers to the agency as the data will be captured automatically. Respomding to The PUNCH story on Friday that the regulatory agency would require subscribers phone IMEIs in three months, the commission said it would rather automatically capture the phone identifying numbers …
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Wema Bank Plc, the creators of Nigeria’s first fully digital bank – ALAT– and one of Nigeria’s leading commercial banks, is hosting a creative essay competition for children.The 2021 Royal Kiddies Essay Competition tagged “Write & Win”, will test the creative writing abilities of young school children in Nigeria aged 5 – 12. It aims to develop writing skills, promote …
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The Federal Government Wednesday said that it was on course in its determination to provide a national carrier to the country. The government said that the initial plan to establish a national carrier in 2021 was affected by the outbreak of the Coronavirus pandemic, adding that the project will be realised the first quarter of 2022. The Minister of Aviation, …
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A report by Galaxy ‘On Bitcoin’s energy consumption’ has revealed that traditional banks use more energy than Bitcoin. Last week, the crypto market tanked after Tesla said it was no longer going to accept bitcoin in exchange for its cars. It cited high energy usage as its reason. The Galaxy report estimates that the banking system uses 263.72 TWh of …
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The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Tuesday, said Nigeria has implemented significant measures to curb illicit financial flow and ensure asset recovery. The minister spoke at the International Conference on Illicit Financial Flows and Asset Recovery which was held virtually. In her keynote address, Ahmed described Nigeria as one of the most affected countries as …
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The Department of Petroleum Resources on Monday announced that its Oil and Gas Alternative Dispute Resolution Centre had commenced sitting. It said in a statement issued by its spokesperson, Paul Osu, that the centre was established to reduce the number of cases in the oil sector that get to the regular courts. Osu also said the centre had already successfully …
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S&P Global Ratings said changes to the boards of First Bank of Nigeria Limited and FBN Holdings (FBNH) Plc, recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability. In a statement, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings …
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Following the astronomic increase in the price of cement from N2,600 to the current price of N4,500, stakeholders have been lamenting the situation as the effect on the construction companies starts to metamorphose. Speaking with our correspondent, Murphy Adebare, Chief Executive Officer of Topaz Garden, said Dangote is an enemy of the nation, to have increase the price of cement …
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