FIRS Targets N8.5trn from Oil, Non-Oil Taxes in 2020

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Dipo Olowookere The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business. Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion. Business Post reports that the

By Adedapo Adesanya The return of the bears was averted at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday by Central Securities Clearing System (CSCS) Plc, which helped the alternative bourse close marginally higher by 0.03 per cent. This slight growth increased the value of the OTC exchange by N380 million, closing relatively flat at N1.165 trillion, as the NASD Unlisted Security Index (NSI) increased by 0.27 points to end the day at 859.58 points compared with the previous day’s 859.31 points. During the trading day, the value of CSCS Plc went up by 8 Kobo to settle at N17.08

The African Public Relations Association (APRA) has asked for due process in the ongoing investigation of the President of the African Development Bank (AfDB) Mr Akinwunmi Adesina, emphasising that it frowns at any undue interference. Speaking on the issue on behalf of the Executive Council in a letter, president of APRA, Mr Yomi Badejo-Okusanya, said, “Without prejudice to previous, on-going or future investigations at the bank, we insist that they must all follow the extant rules of the bank. “APRA will frown at undue influence outside the bank’s established channels. As an African institution, albeit with some non-regional stakeholders, AfDB

By Adedapo Adesanya The Nigeria Customs Service (NCS) generated N1.003 trillion as revenue in the first six months of 2021, 40.6 per cent higher than what it generated in the same period of 2020. This was disclosed by the Customs Public Relations Officer, Mr Joseph Attah, while addressing newsmen in Abuja on Thursday, July 8. He said the amount was realised from January to June 2021, adding that this was higher than the N713.5 billion generated within the same period in 2020 by N290.2 billion. “Hitting the trillion-Naira mark within six months is unprecedented in the service. “This feat is

By Adedapo Adesanya A 0.54 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Monday, September 25, after the duo of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc witnessed improvements in the share prices. The milk producer gained N1.39 during the session to end at N73.59 per unit compared with last Friday’s value of N72.20 per unit, while the Nigerian depository company grew by 70 Kobo to sell at N18.20 per share versus N17.50 per share. At the close of transactions, the total value of the unlisted securities market jumped by N6.21

Leading connectivity and data centre solutions provider in West Africa, MainOne, has enabled the COVID-19 Command Centre and isolation facilities with high speed connectivity infrastructure to facilitate effective monitoring, communication and response. This is part of the company’s contribution to Lagos State’s efforts to fight the pandemic. This was made possible through a partnership with the Lagos State Government and National Centre for Disease Control (NCDC) to help curtail the COVID-19 spread in the state. The Command Centre plays a critical role in enabling the government to monitor the spread of the disease, using algorithms, data analytics and surveys to

By Sonala Olumhense Finally, Nigeria last week got around to the touchy subject of taking the filthy wigs off corrupt members of the judiciary and calling criminals and an accessory to the crime. Naturally, there is an uproar, notably from their professional relatives and sundry members of the corruption cooperative, who jumped up and sideways in alarm. Certainly, it might have been more tidily done.  But the Nigerian judiciary has not been tidy for 50 years.  Pimps and prostitutes sometimes reject a client, perhaps for body odour or bad breath, but our corrupt judges have never said no to a

Foremost finance expert, Mr Julius Osemen Anelu, has been confirmed as the substantive Accountant General of Edo State. His appointment was approved by Governor Godwin Obaseki. Recall that in June 2019, Mr Obaseki selected Mr Anelu as the state’s acting Accountant General. In a statement on Tuesday by the Edo State Head of Service, Mr Isaac Ehiozuwa, it was disclosed that the Governor has approved the appointment with immediate effect in line with the state government’s drive to reposition the civil service for efficient service delivery. Born in 1971, Mr Anelu joined the civil service in 1991 and rose through

By Adedapo Adesanya The Food and Agriculture Organization (FAO) of the United Nations in a partnership with the Global Environment Facility (GEF) has approved three FAO-led projects in Nigeria and four others countries, totalling $18 million in funding. The three new projects in Nigeria, Venezuela and a regional initiative encompassing Malawi, Mozambique, and Uganda will improve the management of protected areas, protect biodiversity in lowland forests, and build water security and resilience. Mrs Maria Helena Semedo, FAO Deputy Director-General said, “Resilient and productive land and aquatic ecosystems are the foundation of sustainable agri-food systems transformation. “The approval of these three

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further closed bearish on Wednesday by closing 0.34 per cent lower on the back of sustained selling pressure. Business Post reports that shares in the banking, energy and industrial goods sectors were the major cause of the decline suffered by the local bourse at the midweek session. When the market closed for the day yesterday, only the consumer goods and the insurance counters ended in the green territory, rising by 0.58 per cent and 0.55 per cent respectively. The banking, energy and industrial goods sectors depreciated at the close of transactions by