Customs Redeploys Comptrollers Across Nigeria

By Adedapo Adesanya President Bola Tinubu has appointed Mrs Bisoye Coker-Odusote as the acting Director-General/CEO of the National Identity Management Commission (NIMC), a role that he will later transition into full-time and serve in for the next four years. In a statement from Mr Ajuri Ngelale, the Special Adviser to the President on Media & Publicity, on Tuesday, the President directed the current occupier of the seat, Mr Aliyu Abubakr Aziz, to embark on a 90-day pre-retirement leave, with effect from Thursday, August 24, 2023. It was revealed that this leave would lead to his eventual retirement from service on

By Aduragbemi Omiyale Mr Farooq Oreagba has been chosen by the board of directors of NG Clearing Limited as the new Managing Director/chief executive, subject to the approval of the Securities and Exchange Commission (SEC). He is replacing Mr Tapas Das, who occupied the office for three years and demonstrated exceptional leadership and strategic vision, driving NG Clearing to a phenomenal historical achievement of clearing the first exchange-traded derivatives contracts in West Africa. Under his guidance, NG Clearing developed a world-class clearing and settlement system that has successfully integrated with the key exchanges in Nigeria’s financial markets. A statement issued

By Dipo Olowookere The Lagos State government has announced its intention to refund the sum of N141,000 to each of pilgrims going for the Hajj in Mecca, Saudi Arabia from the state. A statement issued by the state government yesterday disclosed that the refund was in line with the recommendation of the National Hajj Commission (NAHCOM), the agency in charge of pilgrimage to Mecca in Nigeria. It was stated that the development followed the review of the cost of the pilgrimage by the commission, which led to the reduction of the fare already paid by the pilgrims across the nation.

By Modupe Gbadeyanka Managing directors of Heritage Bank Plc and Aso Savings and Loans Plc have been directed to appear in Abuja to answer what they know about the huge amount of money allegedly hidden in their banks instead of being deposited in the federal government’s Treasury Single Account (TSA). On Thursday, chairman of the House of Representatives Ad-hoc Committee investigating the management, implementation and level of compliance with TSA, Mr Abubakar Danburam, said the two bank chiefs must explain how the N21 billion and $104.46 million undeclared revenue in their possession came about instead of being in the TSA.

**As Shareholders Want Details of Forensic Audit Released By Dipo Olowookere Chairman of Ikeja Hotel Plc, Mr Anthony Idigbe, has hinted that the company may resume the payment of dividend to shareholders of the company this current year. Addressing shareholders on Monday in Lagos at the Annual General Meeting (AGM), Mr Idigbe noted that the present interim management has been working tirelessly to ensure compliance with regulatory requirement to avoid charges resulting from penalties and violations in its operations. “Unfortunately, the board of directors is unable to recommend the payment of any dividend for the financial year under review. “We

By Investors Hub The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to add to the strong gains posted last Friday. The markets may continue to benefit from the upbeat employment data released last Friday despite lingering concerns about a potential trade war. Stocks showed a strong move to the upside during trading on Friday as traders reacted to upbeat employment data. With the upward move on the day, the tech-heavy Nasdaq reached its best closing level in well over two months. The major averages remained firmly positive going into the close of

By Adedapo Adesanya No fewer than 40 students have completed a one-year diploma and certificate in Packaging Technology at the Institute of Packaging Professionals Nigeria (IOPPN). At a graduation ceremony held last week at the Four Points by Sheraton Hotel Victoria Island, Lagos, some of the graduating students were honoured for excellence. It was gathered that the awards ceremony tagged NaijaStar Awards for Packaging Excellence was put in place by IOPPN), Nigeria Packaging (NP) and the Nigeria Packaging Academy (NPA). It was designed to celebrate excellence in the packaging sector in Nigeria and to also recognise organisations and personalities who

By Modupe Gbadeyanka Headquarters of Niger Delta Power Holding Company (NDPHC) at the Central Business District in Abuja has been shut down by officials of the Federal Inland Revenue Service (FIRS). The company’s head office was sealed last Thursday by a team led by Mrs Anita Erinne over tax liabilities totalling N9.8 billion. In a warrant signed by the FIRS Chairman, Mr Tunde Fowler, it was said that the liabilities comprise Corporate Income Tax, Education Tax, Value Added Tax and Withholding Tax, were incurred between 2007 and 2017. Also on that day, the FIRS sealed the premises of defaulting companies

By Adedapo Adesanya President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI) as part of efforts to ease the impact of fuel subsidy removal on Nigerians by reducing energy costs. In a statement released late on Friday, the presidency said this initiative is poised to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles. The federal government also envisions that it will simultaneously bolster in-country manufacturing, local assembly, and creative jobs. The initiative, which comprises a comprehensive adoption strategy, will include

By Adedapo Adesanya The federal government is set to inject over N600 billion as stimulus-response into the agriculture sector to cushion the adverse impact of the coronavirus. The Minister of Agriculture and Rural Development, Mr Sabo Nanono, made this known in a statement signed by the Director of Information of the ministry, Mr Theodore Ogaziechi on Sunday in Abuja. The Minister, according to the statement, made this known while on a tour of Dangote Fertiliser Plant and other fertiliser companies in Lagos State. Mr Nanono said the stimulus package would target small scale farmers to ensure food security and sustainability.