Economy

  • BREAKING: Voice, Data services affected by undersea cable cuts restored, says NCC

    The Nigerian Communications Commission (NCC) has announced that voice and data services affected by undersea cable cuts have now been restored to approximately 90% of their peak utilisation capabilities.  NCC, in a statement issued on Monday by its Director, Public Affairs, Reuben Muoka, said all operators who were impacted by the cuts have taken recovery capacity from submarine cables which…

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  • Court orders Binance to release names, transactions of Nigerian users

    Kunle Sanni, Abuja A Federal High Court in Abuja has issued an order to Binance Holdings Limited to furnish the Economic and Financial Crimes Commission (EFCC) with detailed information regarding all Nigerian traders who use its platform. The order was given by Justice Emeka Nwite who ruled on an ex parte motion presented by Ekele Iheanacho, the EFCC’s attorney, on…

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  • NSC unveils registration portal for Onne Port users

    By Innocent Raphael The Nigerian Shippers’ Council (NSC), has unveiled an Online Registration Portal for Service Providers and Port Users operating at the Onne Port in Rivers State. Executive Secretary of the NSC, Barr. Akutah Pius, MON, while speaking at the launch, disclosed that the new and upgraded online registration portal was designed in line with Shippers’ Council Port Economic…

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  • Nigerian Female agripreneurs to win $300,000 grants at 2024 WAYA Awards

    In a recent event held to commemorate the International Women’s Day celebrations at the Chida Events Center in Abuja Nigeria, AGRA officially launched the call for applications for the 2024 Women Agripreneurs of the Year Awards (WAYA)., WAYA is a prestigious award scheme that recognizes female agripreneurs demonstrating remarkable Innovation and business excellence in agricultural value chains. The awards not…

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  • The review of 2007 Public Procurement Act will add value to the society, says DG BPP

    The Director- General, Bureau of Public Procurement (BPP), Mamman Ahmadu has stated that, the review of the 2007 Public Procurement Act will add value to the society, improve efficiency and transparency in procurement. The DG made this known while receiving the African Development Bank (AFDB) delegation who were in his office, on Appraisal Mission Program for the Economic Reform Program.…

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  • Nigerian businesses to benefit from $1.2m food safety, digital trade with ITC, WTO support

    Kunle The Federal Government has announced that agribusinesses, especially those in the cowpeas and sesame seeds value chains, would benefit from the $1.2 million projects. The funds is  to improve the food safety standards and increase in-country value addition of Nigerian agribusinesses operating in the cowpeas and sesame seeds value chains. The project, launched by the International Trade Centre (ITC)…

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  • FG, CAETPC to collaborate in agriculture, infrastructure investment

    The federal government is planning to synergize with the China Africa Economic and Trade Promotion Council (CAETPC) in the area of agriculture and infrastructure investment. The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, disclosed this during a courtesy visit by the representative of the CAEPTC to the Minister, in Abuja. Bagudu said that China and Nigeria had…

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  • NACCIMA announces temporary suspension of Expatriate Employment Levy

    The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), in collaboration with key stakeholders, announced a temporary suspension of the recently enacted Expatriate Employment Levy (EEL) by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service. NACCIMA in a statement obtained by WesternPost expressed its sincere regret for the inconvenience caused to investors following…

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  • Nigeria’s total foreign trade rises by 37.2% to N71.88trn in 2023, says NBS

    The National Bureau of Statistic (NBS) revealed that in 2023, Nigeria’s total foreign trade increased from N52.38 trillion recorded in 2022 to N71.88 trillion- an increase of 37.2per cent when compared to 2022.  In the fourth quarter of 2023, Nigeria’s total trade reached N26.80 trillion. Of this, exports contributed N12.69 trillion, and imports accounted for N14.10 trillion In the quarter…

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  • CBN warns mortgage banks, MFBs, DFIs on regulatory returns

    Innocent Raphael The Central Bank of Nigeria (CBN) has threatened to sanction all primary mortgage banks, Microfinance Banks and Development Finance Institutions in the country regarding the timely submission of regulatory returns. The apex bank issued the warning in recent separate notices signed by Valentine Ururuka for the Director of Financial Policy and Regulatory Department. While the CBN expressed dismay…

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