SECTOR INSIGHT

Geregu Power Announces Successful Issuance of N40.1bn Bond

Geregu Power Plc, a power company primarily engaged in the generation and sale of electric power in Nigeria, has announced its successful issuance of a N40.085 billion Senior Unsecured Bonds under its N100 billion multi-instrument issuance programme. The transaction, which represents Geregu’s debut…

29/07/2022 0Comments

Nigerians To Pay 5% Tax On Calls, SMS, Data As FG Set To Implement New Excise Duty

The Federal Government on Thursday said Nigerian subscribers would start paying 5% tax on every calls, SMS, data and other telecommunication services. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed stated this during a stakeholders forum on the implementation…

29/07/2022 0Comments

Flutterwave, Chipper Cash Not Licensed To Operate Payment Services, Says Kenyan Central Bank

The Central Bank of Kenya (CBK) says Flutterwave and Chipper Cash are not licensed to operate in the country. Patrick Njoroge, CBK governor, said this on Thursday in Nairobi, the country’s capital, at a media briefing following its monetary policy committee (MPC) meeting. Flutterwave…

29/07/2022 0Comments

We Never Received Subsidy Payment From Govt, Oando, Others Say

Many operators in the oil and gas sector yesterday told the House of Representatives Committee investigating money paid on subsidy by the Federal Government that they have not received any subsidy payment from the government since 2015. The companies said the transactions…

28/07/2022 0Comments

Nigeria Can Save $15bn Annually Via CAC Beneficial Ownership Register — OGP

The global chief executive officer of Open Government Partnership (OGP) Sanjay Pradian has said Nigeria can save over $15 billion annually in illicit financial flows if it eliminates anonymous ownership of companies through the implementation of the “Beneficial Ownership Register” by the…

28/07/2022 0Comments

Nigeria Air Set Take Off As Federal Govt Approves Lease Of 3 Aircraft

The federal executive council has approved the leasing of three aircraft by the country’s national carrier, known as ‘Nigeria Air’ to enable it to commence operations. Hadi Sirika, minister of aviation, said this on Wednesday while briefing journalists after the federal executive…

28/07/2022 0Comments

No Immediate Solutions To Troubled Aviation Sector — Minister of Aviation, Sirika

Minister of Aviation, Mr Hadi Sirika, has sought Nigerians understanding over the litany of challenges plaguing the sector, saying they were more of a global crisis than local. The Minister stated this in Abuja on Tuesday, at an emergency meeting with the Airline…

27/07/2022 0Comments

IMF Retains Nigeria’s Growth Prospect At 3.4%

The International Monetary Fund (IMF) has retained projected economic growth of 3.4 per cent for Nigeria in 2022. The Washington-based institution disclosed this on Tuesday in its World Economic Outlook (WEO) for July 2022 entitled, “Gloomy and More Uncertain”. At its last economic…

27/07/2022 0Comments

NNPC Ltd: We’re NOT Planning To Sack Or Cut Staff Salaries

THE Nigerian National Petroleum Company Limited (NNPC Ltd) has debunked media reports that it has commenced retrenchment of its workers after transitioning to a commercially driven entity. The Group General Manager, Group Public Affairs Department of the NNPC Ltd., Garba Deen Muhammad, said…

26/07/2022 0Comments

NPA Insists It Does Not Operate Secret Accounts

The Nigerian Ports Authority (NPA) has debunked an online report that it operates two secret accounts outside Nigeria, which have been allegedly looted. According to a statement by General Manager Corporate and Strategic Communications, Nasiru Ibrahim, contrary to what it called “sponsored…

26/07/2022 0Comments

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