Economy

FEDERAL GOVERNMENT TO CONSIDER REDUCTION IN CRUDE OIL OUTPUT

President Muhammadu Buhari has said that Nigeria could consider a reduction in crude oil production in support of efforts to shore up the price of the commodity.

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FEDERAL GOVERNMENT GOES AFTER MILLIONAIRE TAX DEBTORS

The Federal Inland Revenue Service has said that the service, in collaboration with other stakeholders like the Nigeria Police Force, will this year go after wealthy tax defaulters.

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LABOUR CANVASSES REVERSAL OF POWER SECTOR PRIVATIZATION

The Nigeria Labour Congress (NLC) has called for the reversal of power sector privatisation due to what it called “chronic failures” by the distribution companies (Discos) to deliver quality power supply to Nigerians.

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CENTRAL BANK TO FINE DEPOSIT MONEY BANKS FOR PAYING COUNTERFEIT BANKNOTES

The Central Bank of Nigeria has imposed a penal fee of 1 million naira on each branch of Deposit Money Banks for non-compliance with its ‘Banknote fitness guidelines and clean note policy documents for the industry.’

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CENTRAL BANK CAUTIONS FEDERAL GOVERNMENT AGAINST RISING DEBT LEVEL

The Monetary Policy Committee of the Central Bank of Nigeria has cautioned the Federal Government against the rising debt level in the country.

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FEDERAL GOVERNMENT TO SEND NEW MINIMUM WAGE PROPOSAL TO NATIONAL ECONOMIC COUNCIL TOMORROW

The Federal Government is set to present the 30,000 naira new National Minimum Wage proposal to the National Economic Council tomorrow for further consultations.

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CENTRAL BANK TO RAISE 1.8 TRILLION NAIRA FROM TREASURY BILLS SALE

The Central Bank of Nigeria plans to raise a total of 1.8 trillion naira from the debt market, in the first quarter of 2019.

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FEDERAL INLAND REVENUE SERVICE SETS EIGHT TRILLION NAIRA REVENUE TARGET FOR 2019

The Federal Inland Revenue Service has given itself a target to generate 8 trillion naira revenue in 2019.

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CENTRAL BANK TO ALLOW CASH TRANSFER VIA WIRELESS CARRIERS

The Central Bank of Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in the country.

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FEDERAL GOVERNMENT EARMARKS 1.02 BILLION NAIRA FOR UNEMPLOYMENT SURVEY

The Federal Government is planning to spend about 1.02 billion naira to conduct twelve economic surveys through the National Bureau of Statistics in the 2019 fiscal period.

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