Five Top Banks Fined N1.4bn For Forex Infractions, Others           Five top banks in Nigeria paid a total of N1.4bn as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria, in the first half...

Imo Lecturer In Dilemma Over TETfund N10m Grant             A lecturer in the department of Electrical and Electronics from the Imo State University, (IMSU) Owerri in Imo State, Mr Christian Obinwa Ahamaefule is presently embroiled in a N10 million Tertiary Education Trust Fund(TETFUND) grant allegedly approved...

Customs May Generate N500bn From Overtime Cargoes Auction             The Nigeria Customs Service (NCS) may rake in over N500 billion from over 8,000 overtime cargoes that are trapped at the port where the cargoes and the auctioning are subjected to due diligence. Sources at the Nigerian Shippers...

Senate Indicts 39 MDAs Over N2.2bn Payment Advances           The Senate has indicted the Budget Office, the ministries of information, interior and 36 other federal agencies for allegedly failing to retire advances amounting to N2.2bn to the Federation Account. This is part of the Senate resolution after...

Nigerians Spend $13bn Annually On E-Commerce — Fed Govt             The federal government had said that e-commerce spending in Nigeria is estimated at $13 billion annually. The Permanent Secretary in the Federal Ministry of Industry, Trade and Investment, Dr Evelyn Ngige, said this in Abuja at the...

VAT Judgement: FIRS May Lose N92bn Revenue To States             If the judgement of the Federal High Court asking states government to collect Value Added Tax in their domain is upheld by the Appeal Court, the Federal Inland Revenue Service will lose about N92bn which it...