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Lagos, South Africa and New York
Friday, July 10, 2020

Lagos appoints Seven insurance firms to manage cooperatives’ liabilities

The Lagos State Government on Thursday said it had appointed a consortium of seven insurance companies to manage losses that cooperative societies in the state might incur. The government added that it had sent a bill titled: ‘The Lagos State Cooperative College Bill’, to the...

Nigeria among countries with highest road accident, loses N80 bilion annually

Nigeria loses N80 billion annually due to road accidents, the Minister of Health, Isaac Adewole, said in Friday. Mr. Adewole who made this known at a handover ceremony of 31 ambulances donated by the Japanese Government in Abuja, said Nigeria was among countries with the...

Osinbajo signs executive order on tax payment nationwide

Nigeria’s Acting President, Prof. Yemi Osinbajo (SAN) has signed an Executive Order to back the Voluntary Asset and Income Declaration Scheme. Speaking on Thursday at the formal launch of the Voluntary Asset and Income Declaration (VAIDS) scheme at the Presidential villa, Abuja Osinbajo made it...

Nigeria’s excess crude account rises to $2.3 billion

The Minister of Finance, Mrs. Kemi Adeosun, has said that the Nigeria’s excess crude account has risen to $2.3 billion Speaking at the monthly meeting of Federal Accounts Allocation Committee (FAAC) in Abuja, Adeosun said that oil revenue for the month of May declined as...

Child marriage costs Nigeria $7.6 billion annually – Report

A new study by the World Bank and the International Center for Research on Women (ICRW) has shown that child marriage will cost developing countries trillions of dollars by 2030, while in contrast, ending the practice would have a large positive effect on the...

Stakeholders worry over FG’s failure to implement 18% pension contribution for workers

Three years after the Pension Reform Act, 2014 mandated public and private sector organisations to increase the minimum pension contribution of both employers and employees to the Retirements Savings Account of workers from 15 per cent of the total monthly emolument to 18 per...

Lack of indiscipline cost motorists N2bn monthly on Lekki-Epe express road

Many motorists are guilty of lane indiscipline, a major cause of highway gridlock that is costing the nation a huge loss, the Founder, Safety Beyond Borders, Mr. Patrick Adenusi, has said. For instance, he said about 100,000 vehicles were daily being trapped in avoidable gridlock...

Nigerian Customs generates N239bn in first three months of 2017

The Nigerian Custom Service (NCS) generated a total sum of N239.4billion in the first three months of this year, figures obtained from the Federal Ministry of Finance have revealed. The figure is contained in a document showing activities in the Ministry of Finance in the...

NNPC pays additional N6.33bn into federation account

completes refund of N450 billion to Nigerian govt, states, LGs The Nigeria National Petroleum Corporation, NNPC, has completed the refund of N450 billion to the federation account, to be shared among the federal, states and local governments. The Permanent Secretary, Ministry of Finance, Mahmoud Isa-Dutse,...

Nigeria gets World Bank $611m credit for out-of-school programme

The World Bank has approved a credit of 611 million dollars to support Nigeria in bringing back out-of-school children into the classrooms. The bank also approved a 350 million dollars credit for Kaduna State Economic Transformation Programme, which focuses on enhancing private sector investment in...
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