The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured the conviction of Mr. Zachaeus Atte, a former Commissioner for Agriculture in Kogi State, North-Central Nigeria. Mr. Atte was convicted on corruption charges by a Kogi State High Court sitting in Okene, Kogi State and presided over by[Read More…]
News
Senate probes alleged CBN Non-Remittance of N20 trillion Stamp Duty
The Senate is investigating alleged failure by the Central Bank of Nigeria, CBN, to remit stamp duty of over N20 trillion into the Federation Account. Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani, All Progressives Congress, APC, Kaduna Central, who disclosed this, however, warned against[Read More…]
SON charged Kaduna women on global competativeness
The Standards Organisation of Nigeria has assured women cooperative groups in Kaduna State of potentials to be on the global front with strict adherence to the Nigerian Industrial Standards and the conformity assessment procedures of the agency. This assurance was given at an intensive workshop for women cooperative heads from[Read More…]
Electricity Tariff Hike: Why consumers will pay for more darkness — Experts
In December 2015, when the Nigerian Electricity Regulatory Commission, NERC, with the backing of the Federal Government, carried out the last upward electricity of tariff review, it told Nigerians that the hike would bring about stable electricity supply and finally resolve the problems of the country’s power sector. Specifically, then-Minister[Read More…]
New VAT will affect small businesses
A section of the Nigerian economy which will feel the impact of the recent increase in Value Added Tax from 5% to 7.5% is Micro Small and Medium Enterprises (MSMEs). President Muhammadu Buhari recently signed the Finance Bill which among other things, increased Value-Added Tax (VAT) from 5% to 7.5%[Read More…]
CBN raises Cash Reserve Ratio to 27.5%
The Central Bank of Nigeria has raised the Cash Reserve Ratio from 22.5 per cent to 27.5 per cent. Briefing the press after the first Monetary Policy Committee (MPC) meeting in 2020 held in Abuja, the CBN Governor, Mr Godwin Emefiele, said that all other parameters were retained. Accordingly, the[Read More…]
DisCos lied, we didn’t direct them to decommission metres – NERC
The Nigerian Electricity Regulatory Commission (NERC) says it has not directed the decommissioning of metres by the Electricity Distribution Companies of Nigeria (DisCos). NERC’s General Manager, Public Affairs, Mr Usman Abba-Arabi, made this known in a statement in Abuja on Friday. Abba-Arabi said that the commission did not also direct[Read More…]
Facebook seeks partnership with NCC
The management of Facebook, a leading global digital services provider, recently paid a visit to the Nigerian Communications Commission (NCC) to explore opportunities for collaboration and partnership for infrastructure deployment to strengthen connectivity, enhance businesses and bolster citizens’ embrace of digital culture. Underscoring the centrality of infrastructure to the flourishing[Read More…]
Consumers will enjoy uninterrupted power supply in no distance time – Momoh
James Momoh, chairman of the Nigerian Electricity Regulatory Commission (NERC), says he has a dream that Nigerians will enjoy uninterrupted electricity supply one day. This is coming less than five days after the national grid collapsed twice within two hours, causing blackout across the country. The Transmission Company of Nigeria[Read More…]
Minor Review of MYTO For NESI
The attention of the Nigerian Electricity Regulatory Commission (the “Commission”) has been drawn to reports in the media that an immediate increase in end-user electricity tariffs has been approved by NERC. The Electric Power Sector Reform Act provides that the Commission shall determine and periodically review electricity tariffs charged by[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]