Business

FG to revive 50 textile firms by 2023

The federal government has set a four-year target within which to resuscitate the textile industry in the country.

Already the Central Bank of Nigeria, has set up a Textile Revival and Implementation Committee, TRIC, for the revival of the country’s cotton, textile and garment, CTG, indus [...]

Sat, 18 May 2019


SEC warns against new Ponzi scheme, ‘Loom’

The Securities and Exchange Commission, SEC, is worried over the growing acceptance of the new online investment scheme tagged “Loom Money Nigeria”.

While warning Nigerians over the activities of the fraudsters running the new Ponzi scheme, SEC said Loom Money Nigeria is taking over [...]

Sat, 18 May 2019


PPP still an alternative for infrastructure dev’t - FG

The federal government has stressed that Public Private Partnership, PPP, model remains a sustainable option for the development of infrastructure in Nigeria.

The Permanent Secretary, Federal Ministry of Finance, Alhaji Mahmoud Isa-Dutse said the model is a credible alternative to traditional p [...]

Sat, 18 May 2019


Minimum wage: FG, labour negotiating salary adjustment

Minister of finance, Zainab Ahmed, has said government is in talks with labour unions over consequential salary adjustment to be made for other cadre of workers, following the implementation of the new minimum wage.

According to her, the Presidential Committee set up by President Buhari has alr [...]

Sat, 18 May 2019


FG cautions NBS board against interference

Members of the newly inaugurated board of the National Bureau of Statistics, NBS, have been asked to stick to their mandate and avoid all forms of interference that could hamper smooth operation of the bureau.

Minister of Budget and National Planning, Senator Udo Udoma, gave the warning while i [...]

Fri, 10 May 2019


NCC to begin phase II of SIM auditing

The Nigerian Communications Commission, NCC, said it would soon launch the second phase of its ongoing audit of Subscriber Identity Module, SIM, registration database and registration processes across all Mobile Network Operator, MNO, platforms.

NCC in a recent statement, said the exercise was [...]

Fri, 10 May 2019


Electricity: Abuja residents groan over blackout

Residents of Abuja have condemned the total blackout that engulf the city over the weekend, saying electricity providers have not lived up to the purpose for which the sector was privatised.

Most parts of the FCT was thrown into total black since last Thursday as the Abuja Electricity Distribut [...]

Fri, 10 May 2019


Emefiele triumphs above expectations

President Muhammadu Buhari’s request to the National Assembly seeking the re-appointment of Mr. Godwin Emefiele as Governor of the Central Bank of Nigeria, CBN, has put to rest the debate that shrouded the twilight of the governor’s first tenure.

With the failure of most governors t [...]

Fri, 10 May 2019


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