A recent report from the Office of the Accountant General of the Federation (OAGF) detailed the capital expenditure performance for Ministries, Departments, and Agencies (MDAs) as of the third quarter of 2023. It highlighted the allocation and utilization of funds for capital projects and programs, amounting to a total of ₦1.23 trillion released and cash-backed…
The Copernicus Climate Change Service (C3S) has reported that each month since June 2023 has set new temperature records, resulting in a 13-month streak of unprecedented global heat. According to Carlo Buontempo, the director of C3S, this trend signifies a significant and ongoing shift in the climate. He emphasized that as long as humanity continues…
In a recent court session, Justice Akintayo Aluko addressed a significant development in the case between United Bank of Africa (UBA) and Stallion Nigeria Limited. UBA, represented by Mr. Temilolu Adamolekun, is seeking to recover an alleged sum of ₦156bn from Stallion Nigeria Limited and its subsidiaries. The bank has appointed a Receiver over some…
MTN Nigeria Communications Plc has reported a significant contribution of ₦549.3 billion in taxes and levies to the Nigerian government for the year 2023. This information was disclosed in the company’s 2023 Sustainability Report, filed with the Nigeria Exchange Limited. The report highlights MTN Nigeria’s achievements in expanding connectivity and enhancing its nationwide coverage. The…
OPay, a leading financial technology company in Nigeria, has reassured its customers that their deposits are now insured up to ₦5 million, in line with the industry standard set by the Nigeria Deposit Insurance Corporation (NDIC). This update emphasizes OPay’s commitment to financial security and aligns its deposit protection standards with those of other commercial…
By Ayomide Otitoju Chief Davidson Alaribe, the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), has urged accountants to uphold the profession’s principles while instilling innovation and integrity to help them navigate difficult times. Alaribe made this statement during the investiture of Mr. Olugbenga Daniel Sholarin, FCA, as the 7th Chairman of…
The Corporate Affairs Commission (CAC) has announced an extension for the registration of Fintech Operators, also known as Point of Sales (POS) Operators. The new deadline is set from July 7, 2024, to September 5, 2024, to accommodate operators, particularly in remote areas, who may have faced network issues. Earlier, in May 2024, the CAC…
The cost of maintaining a healthy diet in Nigeria has surged by 10.98% between February and May 2024, increasing from N938 to N1,041 per adult per day. This rise significantly outpaces general and food inflation rates, further limiting access to nutritious food for many Nigerians. The Cost of a Healthy Diet (CoHD), which measures physical…
The National Drug Law Enforcement Agency (NDLEA) has apprehended a syndicate led by a couple, Agbakoba John Mmadu, 54, and Agbakoba Ijeoma Chinwe, 39, along with their associate, Okoye Ifeoma Maryjane, 31, for their involvement in the packaging, distribution, and trafficking of cocaine within and outside Nigeria. NDLEA spokesperson Femi Babafemi, in a statement on…
