Friday, June 22, 2018

Oluseyi Awojulugbe

    PHOTOS: Small Doctor, Sound Sultan, Kunle Afolayan… celebrities dine with Buhari

PHOTOS: Small Doctor, Sound Sultan, Kunle Afolayan… celebrities dine with Buhari

President Muhammadu Buhari on Thursday invited musicians, actors and youths to join him break Ramadan fast at the presidential villa in Aso Rock. [...]

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    ‘Funds must be used in 72 hours’ — CBN announces naira-yuan swap guidelines

‘Funds must be used in 72 hours’ — CBN announces naira-yuan swap guidelines

The Central Bank of Nigeria (CBN) says funds received under the Naira-Yuan Swap Agreement must be utilised within 72 hours.In a document titled Regulations for Transactions with Authorised Dealers in Renminbi, the apex bank said funds not utilised within the period must be returned for repurchase.The document, which was released on Thursday, was signed by Alvan Ikoku, director, financial markets [...]

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    ‘It’s against ease of doing business’ — alcohol manufacturers reject excise duty hike

‘It’s against ease of doing business’ — alcohol manufacturers reject excise duty hike

The Distillers and Blenders Association of Nigeria (DIBAN) says it is not in support of the new tax regime announced by the federal government.Speaking at a press conference on Wednesday, Patrick Anegbe, DIBAN chairman, said the increased excise duty is contradictory to the ease of doing business executive order.TheCable had earlier reported that the ministry of finance submitted a proposal [...]

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    VAIDS: FG realises N30bn of N350bn target

VAIDS: FG realises N30bn of N350bn target

The federal government has realised N30 billion of its N350 billion target for the Voluntary Assets and Income Declaration Scheme programme.VAIDS, a tax amnesty programme, which was supposed to last for nine months between July 2017 and March 2018 was extended for another three months by the federal government.Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS) made this [...]

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    Lagos shuts five bank branches for illegal building use

Lagos shuts five bank branches for illegal building use

The Lagos State Building Control Agency (LASBCA) has closed five bank branches on Allen Avenue over illegal building use.The affected banks are Access Bank, Sterling Bank, Zenith Bank, Unity Bank and United Bank for Africa (UBA).It also closed down 80 other buildings including those used by Tantalizers and Panasonic.Lekan Shodeinde, the acting general manager of LASBCA, said the buildings were [...]

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    AMCON may dispose of Aero Contractors, Arik Air in 2018

AMCON may dispose of Aero Contractors, Arik Air in 2018

The Asset Management Corporation of Nigeria (AMCON), says 2018 will be a busy year because it plans to dispose assets like Aero Contractors and Arik Air.In April, AMCON said it is willing to exit the aviation sector if the owners of the companies pay their debts.In a statement released by Jude Nwauzor, AMCON's head of corporate communications, the corporation said [...]

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    Suspended SEC DG arraigned for ‘fraud’, gets N25m bail

Suspended SEC DG arraigned for ‘fraud’, gets N25m bail

Husseini Baba-Yusuf of the federal high court in Maitama, Abuja, has granted Mounir Gwarzo, suspended director general of the Securities and Exchange Commission (SEC), bail.The Independent Corrupt Practices and other related offences Commission (ICPC) had on Tuesday arraigned Gwarzo, and a commissioner, Zakwanu Garuba, for acts of corruption involving alleged mismanagement of over N115m.ICPC had accused Gwarzo of receiving N104,851,154.94 [...]

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    Glo, 9mobile lose internet subscribers as active mobile lines hit 160m

Glo, 9mobile lose internet subscribers as active mobile lines hit 160m

Data made available by the Nigerian Communication Commission (NCC) show that Globacom and 9mobile lost 471,782 internet subscribers between March and April.According to the monthly subscribers' operator data posted on its website on Monday, the number of active mobile telephone lines increased by 11 million to stand 160 million.Internet users increased to 101.2 million in April from the 100.6 million [...]

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    HURRAY! CBN close to single rate as BDCs, banks get dollar at same price

HURRAY! CBN close to single rate as BDCs, banks get dollar at same price

The Central Bank of Nigeria (CBN) has approved that Bureaux de Change operators and commercial banks should get foreign exchange at the same rate.Isaac Okorafor, CBN acting director, corporate communications, made this known in a statement released on Monday.This means that banks and BDCs alike will buy the United States dollar at N357 per dollar to sell N360. He said [...]

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    Arrest defaulters of Shisha ban, Adewole tells police

Arrest defaulters of Shisha ban, Adewole tells police

Isaac Adewole, the minister of health, says the police should arrest defaulters of the ban on tobacco products including Shisha.Speaking on Monday in Abuja at a press conference to mark the 2018 World No-Tobacco Day, Adewole said the ban placed on tobacco products is still in place.May 31 is celebrated as No-Tobacco Day across the world to discourage the use [...]

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    ICYMI: NCC says mobile networks must not auto renew your data subscription

ICYMI: NCC says mobile networks must not auto renew your data subscription

The Nigerian Communications Commission (NCC) says all telecommunications service providers in the country must automatically renew data packages without the subscriber's consent.NCC said non-adherence to this would result in a N5 million fine.Umar Danbatta, executive vice chairman of Nigerian Communications Commission (NCC), made this known at the first edition of the NCC Consumer Conversations in Karu, Nasarawa.Helen Obi, director of Northern operations [...]

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    NNPC rejects Falana’s FOI request on fuel importation, says it is not a public institution

NNPC rejects Falana’s FOI request on fuel importation, says it is not a public institution

The Nigerian National Petroleum Corporation (NNPC) says it cannot honour freedom of information (FOI) requests because it is not a public corporation.Femi Falana, a senior advocate of Nigeria, had written an FOI concerning fuel importation data. [...]

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    PwC: Nigeria experiencing jobless growth

PwC: Nigeria experiencing jobless growth

A new report by Pricewaterhouse Cooper says the job creation has not been growing despite the growth experienced by the economy.The report, which was published on Friday, is titled Structural transformation and jobless growth in Nigeria."The latest available data puts the unemployment rate at 18.8%, and underemployment at 21.2%, the highest since the National Bureau of Statistics (NBS) adopted a [...]

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    AMCON to release list of debtors in July, says 5,000 have gone into hiding

AMCON to release list of debtors in July, says 5,000 have gone into hiding

Ahmed Kuru, managing director of the Asset Management Corporation of Nigeria (AMCON), says it will release the list of all the debtors in July.While addressing journalists on Friday, Kuru said 5,000 debtors have gone into hiding.He said the corporation has already engaged the services of lawyers and asset tracers to go after them."Some of them have decided to change their [...]

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    Traffik, Crazy People… 10 movies you should see this weekend

Traffik, Crazy People… 10 movies you should see this weekend

Some movies leave one with a feeling of glee while some poorly executed flicks make one want to puke, punch someone and throw a tantrum – all at once.To help you avoid such a situation that’d leave you fuming out of the cinema in utter disgust, TheCable Lifestyle recommends the following movies. [...]

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    Nollywood actress, Motunrayo Adeoye, dies after battle with ulcer

Nollywood actress, Motunrayo Adeoye, dies after battle with ulcer

Motunrayo Adeoye, a Nollywood actress, has passed away after a prolonged battle with chronic cancer. [...]

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Exchange Rates

June 21, 2018USDGBPEUR
INTERBANK360.45492.18420.32
LAGOS362495425
KANO363495423
PH365494423
ABUJA364495423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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