Fire razes valuables in Ondo
Properties worth millions of Naira were Tuesday morning consumed by fire in many shops belonging to some local traders in Akure, the Ondo state capital. The fire occurred near roadblock junction, opposite Chicken Republic eatery along Owo-Akure-Ilesa road. The inferno began around 2.00 am, spreading to other locked- up stores.... Read more
CBN sets clearing rules for banks
The Central Bank of Nigeria (CBN) has reviewed the settlement banking arrangements for banks and merchant banks. The CBN’s Monetary, Credit, Foreign Trade and Exchange Guideline says it can only maintain a Settlement Account for a commercial bank that provides clearing collateral of not less than N15 billion worth of... Read more
President Buhari’s visit to Turkey attracts 23 companies
Following President Muhammadu Buhari’s recent visit to Turkey to boost bilateral trade, 23 Turkish electrical manufacturing  companies will  visit Nigeria this week to meet buyers and distributors. The Managing Director of Naijalink Ltd., Mrs Thessa Bagu, told the News Agency of Nigeria in Lagos that the visit would strengthen... Read more
Lagos begins arrest of tax defaulters
The Lagos State Government on Monday directed all its revenue agencies to commence enforcement of payment by all tax defaulters with immediate effect. Commissioner for Information and Strategy, Mr. Steve Ayorinde, in a statement, lamented that many residents were not fulfilling their civic obligation of paying their taxes and... Read more
Lagos approves two more sales points for Lake Rice
In an effort geared towards increasing access to Lake Rice and ensure effective distribution of the rice across the state, the Lagos State Government has added two more centres to the already existing designated centres where residents can get the product, the Commissioner for Agriculture, Mr. Oluwatoyin Suarau, has... Read more
NBC sanctioned 23 radio stations for hate speech
The National Broadcasting Commission (NBC) has sanctioned 23 broadcasting stations were sanctioned for various breaches of the Nigeria Broadcasting Code in the third quarter of 2017. The Head, Public Affairs, NBC, Mrs Maimuna Jimada, in a statement on Wednesday in Lagos, said that the broadcasting stations were fined a... Read more
NNPC to create 1 million jobs, establish bio-fuel plant in Ondo
The Nigerian National Petroleum Corporation ( NNPC ) has signed a Memorandum of Understanding (MoU) with the Ondo State Government to establish a 65,000 million litres bio-fuel plant in Okeluse, Ondo State. The NNPC Group Managing Director (GMD), Dr Maikanti Baru, said this when he received Ondo State Governor,... Read more
Federation Account recorded N797bn VAT revenue in 10 months – Adeosun
The federal government has disclosed that revenue from Value Added Tax (VAT) grossed N797.51 billion into the Federation Account between January and October 2017. Minister of Finance, Mrs. Kemi Adeosun, who revealed this in Abuja Tuesday, said “the non-oil revenue represents 46.15 per cent of the 2017 VAT budget of... Read more