Three staff of Ibadan Electricity Distribution Company (IBEDC) on Wednesday appeared before an Osogbo Magistrates’ Court for allegedly setting ablaze the IBEDC office in Ilesa. The defendants, Bidemi Adebisi, 39; Philip Sunday, 17 and Adeyemi Sunday, 19, are facing a six count-charge bordering on conspiracy and arson. They, however, pleaded not guilty to the charge. […] …
Tag: Nigeria news
NGC to create rapport with 350 host communities
The Nigerian Gas Company (NGC) on Wednesday said it would continue to develop a robust and sustainable relationship with its over 350 host communities in the country to enhance business growth. The Managing Director of NGC, Babatunde Bakare gave the assurance during the official inauguration and hand over of a Basic Health Centre to the Oniparaga […] …
Court to rule on AGF’s objection to MTN’s suit May 7
The Federal High Court in Lagos on Tuesday reserved ruling on a preliminary objection by the Attorney-General of the Federation (AGF) challenging a N3billion suit by MTN Nigeria Communication Ltd. MTN sued the AGF for demanding N242 billion and $1.3 billion as import duties and withholding tax assessments from it. By a September 10, 2018 […] …
VAT designed to support the poor, says Fowler
The Federal Inland Revenue Service (FIRS) has stated the Value Added Tax (VAT) is a consumption tax primarily designed to support poor people, and not to create hardship for them. Executive Chairman of the FIRS Babatunde Fowler allayed fears that the increase in VAT may cause hardship for the poor, stating that VAT is charged […] …
NLNG risks N1b fine for local content infringement
The Nigeria Liquefied Natural Gas Limited (NLNG) may incur a fine of about N1 billion for failure to comply with the Nigerian Local Content Policy. A Niger Delta- based company, Macobarb International Ltd, while disclosing disclosed this on Tuesday, alleging the NLNG had maliciously and fraudulently terminated its contract. Macobarb’s Managing Director, Mr. Ogboru Shedrack, […] …
Why revenue from mining is low, by NIMG DG
Director-General/Chief Executive Officer, Nigerian Institute of Mining and Geosciences (NIMG), Prof. Suleiman Hassan, on Monday attributed the low revenue from the mining sector to use of obsolete equipment by artisanal miners operating in the industry. Hassan stated that this has prevented the Federal Government from getting the revenue that is expected from the mining sector. […] …
TCN groans as capacity utilisation dips to 14.8 per cent
The Transmission Company of Nigeria (TCN) has raised concern as the distributor Company of its Odogun Yan substation located in Ikorodu, Lagos State has reduced its load utilization to 14.8 per cent. Lamenting about the disappointment, which he described as a waste of investment, the Assistant General Manager, Transmission Egbin Sub-region, Ajiboye Oluwagbenga who conducted […] …
Phyno, Teni become TomTom brand ambassadors
Two leading rap artists Phyno and Teni have been signed on by TomTom, the household candy brand of Cadbury Nigeria as its Brand Ambassadors at an unveiling ceremony in Lagos. The company revealed the desire to connect further with their consumers through music informed the engagement of the talented duo and they would be featured […] …
Why Chinese are making it in Nigeria — Don
Prof. Muyiwa Falaiye, the Director of the Institute of African and Diaspora Studies (IADS), University of Lagos (UNILAG), on Tuesday said the Chinese had seen opportunities in factors that posed challenges to Nigerians. Falaiye told the News Agency of Nigeria (NAN) in Lagos that it was so because Nigerians at home and abroad had yet […] …
N1.3trn stolen in four years by 32 entities—Magu
The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu on Monday said public funds stolen by 32 entities (human and corporate) between 2011 and 2015 was well over N1.3 trillion. Magu disclosed this in his keynote address at the opening ceremony of the 2019 First Batch Conversion Training Programme to Procurement […] …