FEC Approves Nigeria Startup Bill

The Federal Executive Council (FEC) has approved the Nigeria Startup Bill to be sent to the National Assembly for legislation. According to reports, the bill was designed to provide an enabling environment for business start-ups to thrive. This was disclosed on Wednesday by the Minister of Communications and Digital Economy, Isa Pantami at the end of the virtual council meeting in Abuja.

Blackout Hits Abuja, Nasarawa, Kogi, As AEDC Workers Embark On Strike

Residents of the Federal Capital Territory (FCT) and other customers serviced by the Abuja Electricity Distribution Company (AEDC) were thrown in darkness on Monday as workers embarked on indefinite strike action, shutting down the power facilities.

As New Year Sets In, Brace Up For New Taxes – Finance Minister Tell Nigerians

The Minister of Finance, Mrs. Zainab Ahmed has hinted that Nigerians may be greeted with the introduction of new taxes and levies as the year 2022 sets in, saying is part of the federal government economic recovery package. The Minister made this disclosure during the public hearing on the 2021 Finance Bill organise by the house of Reps Committee on Finance today in Abuja. Ahmed said a couple of reforms and amendments have been recommended in a finance amendment bill which is set to be unleashed on Nigerians in mid-2022. 

DSS Arrests Dambazau For Economic Sabotage

The Department of State Services (DSS) has arrested General Idris Bello Dambazau (Rtd.), Managing Director of Kano state’s Consumer Protection Council (KCPC), over allegations of economic sabotage. According to a source, Dambazau was arrested for allegedly sealing off seven filling stations in the state capital, an act the secret police said was unilateral and unconstitutional. He is billed to be charged to court on Monday, it was gathered.

UAE Appeals To FG For Restoration Of Emirates' Operations

The United Arab Emirates (UAE) General Civil Aviation Authority (GCAA) has pleaded with the Nigerian Government to restore the 21 weekly Emirates Airline flights to Nigeria. In a letter written to the Minister of Aviation, Senator Hadi Sirika, the UAE's GCAA Board Chairman and Minister of Economy, Abdullah Bin Touq Al Marri expressed sadness that the federal government withdrew its 21 weekly flight from the Winter Schedule because the UAE refused Air Peace's request for a three flights weekly slot at Sharjah Airport.

Okonjo-Iweala Tops Financial Times’ 25 Most Influential Women Of 2021

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala has been named among the Financial Times’ 25 most influential women of 2021. Okonko-Iweala was listed as number one, although the financial magazine said the list is unranked. “We put the list together in collaboration with FT journalists from dozens of international bureaus, former women of the year and readers like you. “Across continents, industries and issues, all of these remarkable women have shaped this tumultuous year. Each of them is sure to help shape the better ones to come,” the magazine added.

Emirates Indefinitely Suspends Nigeria Flight Route

Emirates Airline has announced the suspension of flights all flights between Nigeria and Dubai from Monday, December 13, after the Nigerian Civil Aviation Authority (NCAA) limited it to Abuja. Earlier in the week, it was reported that NCAA had denied approval for the airline’s winter schedule and has also accused UAE authorities of not granting equal rights to Nigerian sole carrier, Air Peace, flying to Dubai via Sharjah.

CBN Introduces e-Form ‘A’ For Invisible Transaction

The Central Bank of Nigeria (CBN) has on Tuesday introduced an electronic Form ‘A’ for invisible transactions, the Director Trade and Exchange Department, CBN, Dr. Ozoemena Nnnaji said. According to the apex bank, the e-form ‘A’ is meant to replace the hardcopy form with a N5000 customer charge as fee per declaration of the e-Form ‘A’. The deployment of the e-Form ‘A’ was disclosed in a circular signed by Dr. Nnaji, titled “Automation of Form ‘A’ on the Trade Monitoring System.”

Naira Falls To Dollar At Official Market

The Naira fell slightly against the U. S dollar on Monday at the official market, after the local unit recorded slight gains on Thursday and Friday last week. The pair closed at N415/$1 at the official Investors and Exporters (I&E) window. The Naira decline represented a 0.07 drop compared to N414.73/$1 recorded in the previous trading session as drop in the country’s external reserve continues with a decline of $33 million. The local currency fell at the official market despite a significant increase of 119.3% in Forex turnover.

FG Bans 91 Billionaire VIP Jets, Insists On N30bn Duty

The Federal Government has directed the Nigeria Customs Service to ground 91 private jets belonging to wealthy Nigerians over their alleged refusal to pay import duties running to over N30billion. In a letter written to the Nigerian Civil Aviation Authority, Comptroller-General of Customs, Col. Hameed Ali has directed the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA) to ground affected private jets with immediate effect.