Business

Breaking: Nigeria's Finance Minister, Kemi Adeosun, resigns

Nigeria’s finance minister, Kemi Adeosun, has resigned from the President Muhammadu Buhari led government.

It is, however, unclear when the former Ogun state commissioner for Finance resigned her appointment.

It is however believed that the resignation followed the allegation of not serving the compulsory National Youth Service Corps, NYSC, and obtaining a certificate that the NYSC has disowned.

The minister felt that her position is becoming untenable and is hurting the President in the run-up to the 2019 election.

MTN sues Nigerian govt, CBN over $10.1b demand

...says authorities send conflicting messages, instructions

Embattled telecommunications giant, MTN Nigeria, yesterday filed a petition against the Attorney General of the Federation (AGF) and the Central Bank of Nigeria (CBN) at the Federal High Court, Lagos over demands for the return of $8.1 billion allegedly repatriated illegally and $2 billion tax arrears.

Buhari’s second term poses risk to Nigeria’s economy –HSBC

Buhari’s second term poses risk to Nigeria’s economy – HSBC
.Debt mgt strategy exposes Nigeria

Why CBN punished MTN, four banks, by Emefiele

The Central Bank of Nigeria (CBN), arrived at the decision to punish MTN Nigeria and four banks for FX infractions after a pain-staking investigation spanning a period of over 30 months, Governor Godwin Emefiele of the CBN said Monday in China.

Speaking to Businessday Newspaper from China, the Governor said he wanted to clear the air because the matter/offences committed by the entities concerned were very weighty and had attracted global attention.

Buhari appoints new management for Printing and Minting Company

President Muhammadu Buhari has approved the appointment of Abbas Umar Masanawa as Managing Director of the Nigeria Security Printing And Minting Company, (NSPMC).

The president also approved the appointments of Abubakar Sule Minjibir, Chris Orewa and Tunji Kazeem as Executive Directors in the company.

This is sequel to the recommendation by Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), in a memo dated August 28.

China's Xi offers another $60 billion to Africa, but says no to 'vanity' projects

Chinese President Xi Jinping offered another $60 billion in financing for Africa on Monday and said Chinese companies will be encouraged to invest no less than $10 billion over the next three years, but he also warned against "vanity projects".

Speaking at the opening of a major summit with African leaders, Xi promised development that people on the continent could see and touch, but that would also be green and sustainable.

Stock market sheds N1.14trn loss in 2 months

External reserves decline by $1.3bn in one month

Truck driver collapses, dies at Tin Can Port

Tragedy struck as a truck driver identified as Olaegbe died at the Tin Can port in the early hours of Friday.
The deceased was said to have died as a result of stress arising from long hours on the road after dropping empty container at the Tin Can Island Port on Thursday.
The body of the deceased has since been taken to his home town of Ogbomoso in Oyo State and was buried immediately.
According to the owner of the truck, Mr. Idowu Abiodun, Olaegbe had been a truck driver for over 25 years and had tutored many others within the period.

Nigerian economy worse under APC - Atiku

By Ummi Ismaeel,
Minna
Nigeria’s former Vice President, Atiku Abubarkar, on Thursday said that he joined the Presidential race to end the All Progressives Congress’ (APC) misrule which has impoverished not only Nigerians but brought the nation’s economy to its worst state ever in history.
He also said that the President Muhammadu Buhari-led administration has caused more division than uniting Nigerians due to its highly insensitivity to the heterogeneity and secular nature of the country, which any leader shouldn’t ignore.

Customs names committee to unravel military wares' importations

The Comptroller General of the Nigeria Customs Service (NCS), Colonel Hameed Ibrahim Ali retd has inaugurated a six man committee to investigate and uncover importers and other parties involved in the recent importation of military hardwares into the country along the Port Harcourt axis.
This was contained in a statement made available to journalists by the National Public Relations Officer (PRO) of the Service, Deputy Comptroller Joseph Attah.

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