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The North West Zone of the Tax Appeal Tribunal holden at Kaduna has ordered the Panacea Pharmaceutical Chemist And General Enterprises to immediately pay Federal Inland Revenue Service the sum of N7,000,000.00 (Seven Million Naira) only plus penalty and interest at 10% per annum EACH on the unremitted Companies Income Tax until the sum is […]

President Bola Tinubu And Chairman of Economic Community of West African States (ECOWAS) Authority of Heads of State and Government, will host a special meeting of the regional leaders on Sunday, July 30th in Abuja. According to a statement issued by Special Adviser on Special Duties, Communications and Strategy, Dele Alake, following the coup in […]

The Nigerian Police, Abia State Command, has disclosed the arrest of three suspects in connection with the attack on Abia Commissioner’s convoy in Aba where two police officers lost their lives. In a statement by the Police Public Relations Officer, PPRO ASP Chinaka Chinaka Maureen, on behalf of the Commissioner of Police, Kenechukwu Onwumelie, the […]

The ruling All Progressives Congress (APC) has rescheduled its National Caucus and National Executive Committee (NEC) meetings for August 2 and 3 respectively. It was gathered from a highly placed source in the National Working Committee (NWC) of the party that the new dates were communicated to the party leadership by President Bola Ahmed Tinubu […]

The resumed meeting of the Presidential Steering Committee on Subsidy Palliatives, which was scheduled to hold Friday ended badly as the Labour team walked out over alleged lack of readiness of government’s team. The committee at the end of its meeting last Wednesday agreed to meet again two days later to receive briefings from three […]

The detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu has declared an end to all Sit-At-Home exercise, including the Monday’s sit-at-home and any other proposed thereof being aimed to force the government to release him. Kanu made the declaration in a handwritten letter, which his special counsel, Aloy Ejimakor, read out […]

*Says That If Maikyau SAN Refuses To Resign, The NEC Should Vote To Remove Him From Office. Lawyers have dragged the NBA President, Y. C Maikyau SAN, calling him the most Incompetent President in NBA’s history and has demanded his resignation. In a video making rounds of social media, a group of lawyers communicated their […]

The Nigerian Army on Friday said it has arrested a former soldier suspected to be gunrunner at Boi in Bogoro Local Government Area of Bauchi State. It was learnt that the suspect who was a dismissed soldier from 5 Bde Damasak was supplying weapons to Boko Haram members in the State. The army said this […]

Airtel Africa Earnings Break over Huge FX Loss Airtel Africa recorded a loss after tax of $151 million in the first quarter of 2024 as a result of the Naira devaluation that triggered a $471 million exchange rate loss, its unaudited financial statement submitted to the regulator showed. In its result, the company told the […]

NGX Loses N111bn as Alpha Seekers Offload FMCG, Banks Stocks The Nigerian Exchange (NGX) recorded a large daily loss of more than N111 billion Thursday as alpha seekers continued to offload stocks after the interest rate hike, disappointing earnings release for the first half of 2023. The bearish grip was strong, driven in part by […]

T-Bills Spikes to 7.12% as Market Weighs Rate Hike The average yield on Nigerian Treasury bills rose sharply by 281 basis points Thursday following selloffs in the short, belly, and long-dated instruments. The bearish bias came as the market weighed the net effects of the recent interest rate hike by the monetary authority on their […]

Funding Rates Sink as FAAC Inflow Boosts Liquidity On account of a solid liquidity level in the money market, the short-term benchmark rates slumped sharply Thursday as inflow from the Federal Account Allocation Committee FAAC) hit the financial system. Local deposit money banks appear to be under no pressure condition that requires them to pitch […]