Author: Akintayo Adams

Gains from Nigeria’s Foreign Exchange devaluation has contributed ₦4.23 trillion to the Federation Account Allocation Committee revenue for the last twelve months. This is according to a recent report by Agora Policy. The increased FAAC revenue was reported to have started since the Naira was floated in June 2023. It stated that FX gains contributed 20.14 percent to the ₦20.99 trillion FAAC revenue in the last year. “From May 2023 to April 2024, a total of ₦4.23 trillion was shared as exchange gain by FAAC, representing 20.14% of ₦20.99 trillion, which was the gross FAAC revenue for the 12 months,”…

Nigeria’s aggregate Company Income Tax (CIT) for Q1 2024 stands at ₦984.61 billion. The figure was disclosed by the National Bureau of Statistics (NBS) in its NBS Company Income Tax, CIT, Q1 2024 Report released in Abuja on Tuesday. The figure, according to the data, shows a growth rate of -12.87 per cent on a quarter-on-quarter basis from ₦1.13 trillion recorded in Q4 2023. Local payments raked in were ₦386.49 billion, while foreign CIT payment contributed ₦598.13 billion in Q1 2024. The report further explained that activities of households as employers, undifferentiated goods- and services-producing activities of households for own…

Canadian singer Celine Dion has revealed that she hid her struggle with Stiff Person Syndrome for 17 years before disclosing it to the public. She made it known in an interview with Hoda Kotb on the Today Show where she revealed how she was secretly battling the illness while managing her late husband, Rene Angelil’s cancer battle and raising their children. “We did not know what was going on [with me]. I did not take the time… I should have stopped, took the time to figure it out,” she said. “And like it wasn’t enough, my husband as well is…

Dr Bassey Okon, Commissioner for Special Duties, has been sacked by Governor Umo Eni of Akwa Ibom State. This was disclosed in a statement signed by the Secretary to the State Government, Enobong Uwah. The statement, however, failed to give a reason for his dismissal. “In an ongoing effort to reposition this administration in line with the ARISE Agenda, the Governor of Akwa Ibom State, Mr Umo Eno, has relieved Dr Bassey Okon, Commissioner for Special Duties, as Commissioner in the Akwa Ibom Executive Council with immediate effect,” the statement partly read. Okon was directed to hand over all property…

The Nigerian Immigration Service (NIS) has revealed plans, to inaugurate a more accessible e-visa application channel. This is for short visits in line with the Nigeria Visa Policy 2020, according to the statement by the Service Public Relations Officer, DCI Kenneth Udo. The statement revealed the plan was announced by the Comptroller General of the Nigeria Immigration Service (NIS), Kemi Nandap, during an address delivered at the graduation ceremony of the 12th Command Course of the Immigration Command and Staff College, in Sokoto. “We must embrace these reforms and implement effective internal control and monitoring mechanisms,” she said. “This is…

Malawian President Lazarus Chakwera said Tuesday that the plane carrying Vice President Saulos Chilima and nine others has been found. However, no one survived. “The plane has been found and I am deeply saddened and sorry to inform you all, it has turned out to be a terrible tragedy,” he said, in a televised address. The group departed just after 9:00 am (0700 GMT) from Lilongwe on Monday to attend the funeral of a former cabinet minister some 370 kilometres (230 miles) away in Mzuzu. Former first lady Shanil Dzimbiri was also on board. Described as charismatic yet stern-talking, he…

John Enoh, Minister of Sports Development has ordered the provision of detailed technical report from the Nigerian Football Federation. This is sequel to Super Eagles’ disappointing performance during the June FIFA window. The Super Eagles played 1-1 with South Africa in Uyo and losing 2-1 to Benin Republic in Abidjan in its third and fourth game in the 2026 FIFA World Cup qualifying series to rank fifth in a group of six teams after four qualifying matches. Their quest to qualify for the 2026 FIFA World Cup to be jointly hosted by USA, Canada, and Mexico is currently in jeopardy.…

Suspected terrorists have abducted passengers along Maiduguri/Kano highway. A Daily Trust report has that the insurgents struck between Garin Kuturu and Mannanari village near Auno, which is along Damaturu highway at about 5:50:pm on Monday. They reportedly blocked the highway before forcefully taking away some passengers. The incident left hundreds of travelers and commuters stranded on both ends of the ever-busy road. They had to return to Benishek and Auno respectively, according to Daily Trust. “There was an incident between Mannanari and Garin Kuturu where some Boko Haram fighters came out to block the upcoming vehicles and some passengers were…

Access Bank Plc has announced the successful acquisition of African Banking Corporation (Tanzania) Limited. This was contained in a statement on Monday by the financial institution. According to the statement, the takeover is in line with its strategic expansion goals. “With the successful acquisition of BancABC Tanzania by the Bank, BancABC operations will now be merged with the consumer, private, and business banking operations of Standard Chartered Bank Tanzania at completion to form a new, entity to be known as Access Bank Tanzania,” it read. “It underscores our commitment to creating a robust East African banking network, driving positive change…

The Federal Government has declared Wednesday, June 12, 2024 as a public holiday. This is to commemorate this year’s Democracy Day. This was contained in a statement on Tuesday, the Minister of Interior, Olubunmi Tunji-Ojo. “As we mark another Democracy day in the history of our dear country, let us all reflect on the efforts of our founding fathers and ensure that Nigeria remains a united, secured, peaceful and indivisible entity,” the statement read. He urged Nigerians to remain steadfast on the tenets of democratic governance. He also restated President Bola Ahmed Tinubu’s commitment to positive reforms to reawake the…