By Seun Ibiyemi The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the National Pension Commission (PenCom) have recovered more than ₦3 billion in unremitted pension contributions from defaulting employers as part of ongoing efforts to enforce compliance with the Pension Reform Act (PRA) 2014. The recovery was disclosed in a statement issued…
The Nigerian equities market extended its bearish run on Wednesday, with the benchmark All-Share Index (ASI) declining by 1.63 per cent, weighed down by heavy profit-taking in Aradel Holdings Plc. Market data showed that sustained sell-offs in the oil and gas firm’s shares significantly pressured the broader market, pushing the Nigerian Exchange Limited (NGX) deeper…
By Seun Ibiyemi The Federal Government has reduced the import levy on new and used vehicles under the 2026 Fiscal Policy Measures, as part of efforts to lower the cost of vehicle importation, stimulate trade and support economic growth. Under the revised tariff regime, the levy on new vehicles has been reduced from 20 per…
By Seun Ibiyemi The Federal Government has reaffirmed its commitment to strengthening collaboration with the World Bank to accelerate access to safe water, improve irrigation, and enhance food security across Nigeria. The Minister of Water Resources and Sanitation, Engr. Prof. Joseph Terlumun Utsev, made this known on Wednesday while receiving a delegation from the World…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has concluded the review of the remuneration package for political and public office holders and forwarded its recommendations to President Bola Tinubu for consideration. The commission disclosed this in a statement issued on Wednesday by its Head of Information and Public Relations Unit, Maryam Yusuf, following a…
By Seun Ibiyemi The Naira recorded a slight appreciation against the United States dollar at the official foreign exchange market on Wednesday, closing at ₦1,379.68/$, compared with ₦1,383.62/$ recorded in the previous trading session. At the parallel market, the local currency traded at ₦1,390/$ for buying and ₦1,400/$ for selling, reflecting relative stability and maintaining…
By Seun Ibiyemi CBN Revokes Licences of 46 Microfinance Banks Over Regulatory BreachesThe Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country for failing to meet key regulatory requirements, as part of efforts to strengthen the nation’s financial system and protect depositors. The apex bank announced the…
By Seun Ibiyemi The Presidency has dismissed claims by Adeyemi Adeniyi Matthew that he was appointed Director-General of a Presidential Economic Advisory Council, insisting that the agency he purportedly headed never existed and describing him as an impostor facing prosecution for alleged forgery and impersonation. In a statement issued on Wednesday by the Special Adviser…
By Seun Ibiyemi The Lagos State Waterways Authority (LASWA), in partnership with Interferry, has successfully delivered Module Two (Seamanship) of the Ferry Safety Development Programme (FSDP), marking another milestone in Africa’s first structured ferry professional development initiative. The June module focused on Ropes and Knots, Mooring and Anchoring, and Deck Maintenance. Through self-paced learning, virtual…
…Says stronger maritime governance key to AfCFTA, Blue Economy growth By Seun Ibiyemi Nigeria’s Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has called on maritime administrations across West and Central Africa to strengthen Port State Control (PSC) systems as a critical strategy for enhancing maritime safety, facilitating trade and unlocking the full potential…
