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The Minister of Labour and Productivity, Dr Chris  Ngige, has warned that Nigeria may explode sooner if unemployment in the country is not tackled urgently. The minister disclosed this in Enugu at the weekend where he received an award from the College of Medicine, University of Nigeria , Nsukka  (UNN) alongside other alumni. While taking a critical […]

Governor of Central Bank of Nigeria, Mr. Godwin Emefiele, says the plan to increase Value Added Tax from five per cent to 7.5 per cent is in the right direction to raise country’s revenue. Emefiele stated this while fielding questions from journalists after the Monetary Policy Committee meeting held in Abuja. He said the government […]

The house of representatives has asked the Central Bank of Nigeria (CBN) to hit the brakes on the implementation of the cashless policy it recently re-introduced. At the plenary session on Thursday, the lower legislative chamber said the policy will lead to a significant decrease in credit extension by Nigerian money deposit banks. The lawmakers […]

There are strong indications that many Nigerians have been shunning trips to South Africa  in the last two weeks. Punch gathered on Thursday that since the latest xenophobic attacks on Nigerians by South Africans, many travellers had been boycotting  trips to the former apartheid enclave. Also on Thursday, the House of Representatives described the Minister […]

President Muhammadu Buhari will depart Abuja Sunday for New York, United States to participate in the 74th Session of the United Nations General Assembly (UNGA74) which opened on Tuesday, September 17. The President’s participation at this year’s gathering of world leaders is particularly significant as it coincides with Nigeria’s Presidency of UNGA. On June 4, […]

A trio of canoodling couples was publicly flogged in Indonesia’s Aceh province on Thursday, charged with breaking local Islamic law that outlaws public displays of affection. Despite international condemnation, whipping is a common punishment for a range of offences in the deeply conservative region on Sumatra island, including gambling, drinking alcohol, and having gay or […]

A court in south India has sent a couple to jail after finding the husband-wife duo guilty of spending four million Indian Rupees (about 57,150 dollars) wrongly credited to their bank account in 2012. English daily The Times of India reported on Wednesday that seeing it as a “windfall,” the couple withdrew the money within […]

Bank customers are to pay more for Point of Sale (PoS) transactions. This follows a Central Bank of Nigeria’s directive to banks to charge N50 Stamp Duty on individual transactions. The directive on the Unbundling of Merchant Settlement Amounts was contained in the CBN circular to banks, processors and switches, titled: “Review of Process for […]

The House of Representatives on Wednesday held a session in honour of the Chairman of Air Peace, Mr Allen Onyema, for the free air services offered by his airline to the Federal Government for the evacuation of Nigerians in South Africa. The Nigerians were evacuated from South Africa over xenophobic attacks in that country. Also, […]

President Muhammadu Buhari on Monday accepted South Africa President Cyril Ramaphosa’s apology to Nigeria over the persistent xenophobic attacks against Nigerians. The President, who described the attacks and violence as “very unfortunate”, assured that the relationship between the two countries “will be solidified”. President Buhari received President Ramaphosa’s Special Envoys – Dr. K. Mbatta and […]

The Central Bank of Nigeria on Tuesday said that the nationwide implementation of the cashless policy will begin by March 2020. The apex bank said this in a circular to all Deposit Money Banks in the country. It said that implementation of the policy would signal the imposition of charges on deposits in addition to […]

The new N30,000 National Minimum Wage has suffered another setback following minor changes at the end of the committee meeting held in Abuja, on Monday. At the end of the Joint Public Service Negotiating Council (JNPSNC) meeting which was chaired by the Head of service of the federation, Winifred Oyo-ita, Daily Trust reporter learnt that […]