UAE Gives 6 Slots to Air Peace in Dubai, Sharjah Airports

Aviation-AirportsBusinessUAE Gives 6 Slots to Air Peace in Dubai, Sharjah Airports

Beloved John (Staff Writer)December 15, 2021

ABUJA — The United Arab Emirates (UAE) has allocated six slots to Air Peace, both at the Dubai and Sharjah airports. The development was announced by James Odaudu, director, public affairs, ministry of aviation on Tuesday. According to him, the move was part of the resolution to the diplomatic row between the two nations. He noted that the UAE aviation authorities allocated six slots to the Nigerian carrier as part of the diplomatic resolution. “It...

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Presidency Denies Inclusion of Tax Number as Bank Requirement in its Finance Bill

EconomyMoneyPresidency Denies Inclusion of Tax Number as Bank Requirement in its Finance Bill

Bada Yusuf Amoo (Correspondent)December 13, 2021

ABUJA — The Presidency said on Sunday that there is no provision in the Finance Bill (2022) that states that banks will be required to request for Tax Identification Number before opening bank accounts for individuals and existing account holders must provide their TIN to continue operating their accounts. A top Presidency said this in a statement titled ‘No TIN requirement for Nigerians to operate bank accounts in Finance Bill 2022, says Presidency”. According to...

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Reps Call for the Recruitment of Doctors to Replace Those Leaving the Country

HealthJobsReps Call for the Recruitment of Doctors to Replace Those Leaving the Country

Bada Yusuf Amoo (Correspondent)December 10, 2021

ABUJA — The House of Representatives has called for the recruitment of medical personnel to replace doctors and other health workers, who have quit Federal Government jobs and left Nigeria for better offers in other countries. The call is coming at a period of a mass exodus of workers in the country’s health system, especially doctors and nurses. At the plenary on Thursday, the House urged the Federal Ministry of Finance, the Head of the...

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Buhari’s Finance Bill Mandates Tax Number to Open or Continue to Operate Bank Accounts

EconomyBuhari’s Finance Bill Mandates Tax Number to Open or Continue to Operate Bank Accounts

Bada Yusuf Amoo (Correspondent)December 9, 2021

ABUJA — The Finance Bill 2021 proposed by President Muhammadu Buhari has made it mandatory for commercial banks to demand Tax Identification Numbers (TIN) from anyone who wishes to open bank account with them. The bill also empowers the banks to demand TIN from existing customers if they wish to continue to operate their accounts. This was stated by the Senate Leader, Yahaya Abdullahi, on Wednesday in his lead debate on the bill which was...

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We Will Continue Engaging Registrars, Stakeholders to Resolve Unclaimed Dividends — SEC

EconomyMarketsNewsWe Will Continue Engaging Registrars, Stakeholders to Resolve Unclaimed Dividends — SEC

Beloved John (Staff Writer)December 8, 2021

ABUJA — The Securities and Exchange Commission (SEC) has said stakeholders will interrogate until the rising unclaimed dividends are solved. Director-general of the SEC, Lamido Yuguda, disclosed this during the presentation of the 2022 budget of the commission before the house of representatives committee on capital markets and institutions in Abuja on Tuesday. According to him, part of the problems of unclaimed dividends had to do with identity management. He noted that the agency is...

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Reps Passes Bill Seeking to Establish Youth Trust Fund to Tackle Unemployment

JobsLabourReps Passes Bill Seeking to Establish Youth Trust Fund to Tackle Unemployment

Beloved John (Staff Writer)December 8, 2021

ABUJA — A bill seeking to create a youth entrepreneurship development trust fund to tackle unemployment has passed second reading at the house of representatives. The bill also seeks to earmark for the fund about five percent capital estimate from the federation account appropriated for the fiscal year. The legislation is sponsored by Farah Dagogo, a lawmaker from Rivers state. In his memorandum, Dagogo noted that the bill will provide financial support to youths with...

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President Buhari Send Management of Abuja Electricity Distribution Company Packing

BusinessPowerPresident Buhari Send Management of Abuja Electricity Distribution Company Packing

Hassan Umar Shallpella (Regional Correspondent)December 8, 2021

ABUJA — President Muhammadu Buhari has approved the sack of the management of the Abuja Electricity Distribution Company (AEDC). Minister of State for Power, Goddy Agba announced this in a statement on Tuesday, saying the president also approved a new interim governing board to oversee the day-to-day operations of the company. According to Ofem Uket, spokesman of the Minister, his action follows the industrial action by the Nigerian Union of Electricity Employees (NUEE) workers to...

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Gov. Ugwuanyi Presents N186.64 Billion 2022 Budget Estimates, Ongoing Projects To Be Completed

EconomySoutheastGov. Ugwuanyi Presents N186.64 Billion 2022 Budget Estimates, Ongoing Projects To Be Completed

Ije Ulasi (Regional Correspondent)December 8, 2021

ENUGU — The Enugu State Governor, Ifeanyi Ugwuanyi on Tuesday revealed intentions to complete all ongoing projects in the state in year 2022 amongst other development strategies. Ugwuanyi declared this at the Hallowed chambers of the Enugu State House of Assembly while presenting the state’s year 2022 Budget proposal. A budget estimate of One Hundred and Eighty-Six Billion, Six Hundred and Thirty-Five Million, One Hundred and Thirty-Five Thousand, Seven Hundred and Seventy Naira (N186,635,135,770.00) was...

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NCC Approves Bids From MTN, Airtel for 5G Spectrum Auction

BusinessTelecommunicationNCC Approves Bids From MTN, Airtel for 5G Spectrum Auction

Beloved John (Staff Writer)December 3, 2021

ABUJA — The Nigerian Communications Commission (NCC) has declared MTN Nigeria Plc, Mafab Communications Limited, and Airtel Networks Limited, the approved bidders of the forthcoming 3.5 gigahertz (GHz) spectrum auction. The spectrum auction is for the deployment of the fifth-generation (5G) networks. Ikechukwu Adinde, NCC’s director of public affairs, said this in a statement issued on Thursday. According to the commission, the qualified bidders met the criteria for participation in the licensing process of the...

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FG Must Exercise Restraint in Tax Increment Despite Low Tax-to-GDP Ratio – AFDB

EconomyInvestingFG Must Exercise Restraint in Tax Increment Despite Low Tax-to-GDP Ratio – AFDB

Beloved John (Staff Writer)December 1, 2021

ABUJA — President of the African Development Bank (AfDB), Akinwumi Adesina, has said, the fact that the country’s tax to gross domestic product (GDP) ratio is low does not justify the incessant tax increase. He indicated that although the country’s tax to gross domestic product (GDP) ratio is at 6.1 percent, the FG must exercise restraint in tax increment. The AfDB boss said this on Tuesday in Abuja while delivering a lecture at the 51st...

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