National

The Federal Government has approved the increase of the monthly allowance of the members of the National Youth Service Corps, NYSC, from 33,000 Naira to 77,000 Naira which took effect from July 2024. This was disclosed in a statement through the acting Director of Information and Public Relations, NYSC, Caroline Embu, affirming that the increment of monthly allowance of corps members is in line with the enactment of the National […]

The Presidency has declared that foreign individuals earning income in Nigeria will henceforth be required to pay taxes in line to a proposed amendment to the National Identity Management Commission, NIMC Bill of 2024. This was disclosed yesterday by the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, emphasizing that the proposed NIMC Bill was part of the Economic Stabilisation Bills approved on Monday by the […]

The Central Bank of Nigeria, CBN has stated that lifting of petroleum products from the Dangote Refinery will help reduce transportation costs and significantly support the easing of food prices in the short to medium term. CBN Governor, Olayemi Cardoso, who stated this yesterday during a press briefing  at the end of the 297th meeting of the Monetary Policy Committee, MPC in Abuja, also remarked that it will help to moderate foreign exchange demands […]

President Bola Tinubu has declined to sign a bill seeking to extend the tenure of service of legislative staff at the National Assembly and States Houses of Assembly from 35 to 40 years and their retirement age from 60 to 65 years. This was revealed in a letter read yesterday on the floor of the Senate by Senate President, Godswill Akpabio, stating that president's decision to withhold assent to the […]

The Federal Executive Council, FEC has approved the establishment of Disaster Relief Funds, designed to facilitate prompt assistance to disaster victims nationwide. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made this known yesterday shortly after the FEC meeting chaired by President Bola Tinubu at the Presidential Villa Abuja, said the fund aims to secure financial support from all three levels of government as well […]

President Bola Tinubu has promised that Nigeria will keep collaborating with its global partners to ensure that cyber criminals and organized crime groups engaged in international car thefts do not profit from their unlawful activities. Tinubu, in a statement yesterday through his Special Adviser on Information and Strategy, Bayo Onanuga, expressed concern over the involvement of transnational organised criminal groups in exporting stolen vehicles to Nigeria, directing all relevant agencies, […]

President BOLA TINUBU has reiterated his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments. His Special Adviser on Information and Strategy, BAYO ONANUGA, in  a statement, revealed that President TINUBU made the commitment yesterday in Abuja, at a meeting with the global leadership team of Coca-Cola Company, led by its president and chief financial officer, JOHN MURPHY,  and the Chairman of Nigerian Bottling Company, SEGUN APATA  The president commended […]

Vice President, Kashim Shettima has called for close collaboration among ministries, departments, and agencies (MDAs) of government to actualize the agenda of President BOLA TINUBU across different sectors. This is just as the National Council on Privatization (NCP) chaired by the Vice President on Wednesday ratified the 2021 and 2022 audit financial reports of the Bureau of Public Enterprises (BPE).  A statement by the media aide to the Vice President, Stanley Nkwocha, revealed that the […]

The Central Bank of Nigeria, CBN, has confirmed the enforcement of the controversial cybercrime levy at 0.005 percent on all electronic transactions under its new guidelines for the 2024-2025 fiscal year. The Apex Bank which disclosed this in its recently released Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025, reaffirmed its commitment to mandating banks and other financial institutions to deduct the levy from all electronic […]