Tag: Nigeria

NiMet Predicts 3-Day Rainfall Across Nigeria From Sunday

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NiMet Predicts 3-Day Rainfall Across Nigeria From Sunday

With Agency Report The Nigerian Meteorological Agency (NiMet) has predicted thundery and rainy weather conditions from Sunday to Tuesday across the country. NiMet`s weather outlook released on Saturday in Abuja forecast morning thunderstorms on Sunday over parts of Gombe, Bauchi, Borno, Adamawa, Jigawa, Taraba and Kaduna states. It envisaged thunderstorms over parts of Zamfara, Kebbi,…

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NiNet, Weather and Climate

People Will Die, Properties Will Be Destroyed, Food Crisis Will Worsen As Monster floods’ Threatens 31 States – Experts

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People Will Die, Properties Will Be Destroyed, Food Crisis Will Worsen As Monster floods’ Threatens 31 States – Experts

Experts have issued what has been described as a “dire warning to 31 states on the 2024 Annual Flood Outlook, AFO,”. According to a report presented to the Federal Government: People will die, property will be destroyed, food crisis will worsen as thousands of hectares of farmland will be washed away by ‘monster’ floods if…

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Environmental disasters

The New Cyber Security Levy To Be Paid By Nigerians On All E-Transactions

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The New Cyber Security Levy To Be Paid By Nigerians On All E-Transactions

The Central Bank of Nigeria, on Monday, directed banks and other financial institutions to start charging a cybersecurity levy on all banking transactions. According to the circular, the implementation of the levy would start in two weeks. The circular read in part, “Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and…

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Finance and Economy

FG Announces Hike In Electricity Tariffs

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FG Announces Hike In Electricity Tariffs

The Nigerian Electricity Regulatory Commission (NERC) has ordered an immediate upward review of electricity tariffs in the country from Wednesday 3 April. The NERC Vice Chairman, Musiliu Oseni, disclosed this while speaking at a press conference in Abuja on Wednesday. Mr Oseni said the new rate will be imposed only on consumers who represent 15…

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News

Tinubu Orders Single Digit Tax System in Nigeria

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Tinubu Orders Single Digit Tax System in Nigeria

Zacch Adedeji, chairman of the Federal Inland Revenue (FIRS), says President Bola Tinubu has given a directive for a single-digit tax system in Nigeria. Adedeji spoke on Wednesday when Adebayo Alli, chief executive officer (CEO) of Guinness Nigeria, led a management team of the firm on a visit to the revenue house in Abuja. In…

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Finance and Economy

Locations With Commercial Quantity Lithium Identified in Nigeria – Alake

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Locations With Commercial Quantity Lithium Identified in Nigeria – Alake

The Minister of Solid Minerals Development, Mr Dele Alake, said the Federal Government (FG) has identified locations where Lithium occurs in commercial quantities in the country. He said comprehensive data on the pattern and quantity of energy mineral Lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in…

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Trade and Commerce

Nigeria Posts $10bn Fine On Binance

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Nigeria Posts $10bn Fine On Binance

. Top Officials Arrested in Nigeria, Passports Seized Authorities in Nigeria have slammed $10 billion in penalties on the global cryptocurrency exchange platform Binance, alleging the country has incurred massive losses due to the platform’s activities. The Nigerian government detained two Binance Holdings Ltd. executives, days after the central bank governor said that the nation…

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Cryptocurrencies, Finance and Economy

Difference between a fixed, free float crawling peg and managed float exchange rate system; which is better for Nigeria?

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Difference between a fixed, free float crawling peg and managed float exchange rate system; which is better for Nigeria?

In a landmark move on June 16th, 2023, the Central Bank of Nigeria unveiled sweeping reforms to its foreign exchange operations, consolidating multiple rate windows into a singular, unified system: the Investor and Exporter Window, commonly referred to as the I&E Window. This shift has ignited spirited debates, with analysts and experts deliberating over the…

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Finance and Economy

Niger Cuts Diplomatic Relations With Nigeria, France, US, Togo

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Niger Cuts Diplomatic Relations With Nigeria, France, US, Togo

Niger’s military junta on Friday cut off diplomatic relations with four countries, including its southern neighbor Nigeria, which earlier in the morning disconnected electricity export to the country following its delegation’s failure to meet the coup leader. “The functions of the extraordinary and plenipotentiary ambassadors of the Republic of Niger to France, Nigeria, Togo, and…

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Diplomacy and International Relations