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Federal government of Nigeria has imposed a mandatory annual levy for organisations employing expat workers. They will be required to pay $15,000 (£12,000) for a director and $10,000 for other categories. The aim is to encourage foreign companies to employ more Nigerians.

A pastor with the Redeemed Christian Church of God identified as Emmanuel Orekoya has been arraigned for allegedly r+ping & impregnating his 17- year-old daughter The defendant was arraigned before the Ikeja S+d¥al Offences & Domestic Vi+lend£ Court on February 27, 2024 The Lagos State Government slammed two counts of unlawful s+d¥al intercourse & s+d¥al a§salute on the suspect According to the state’s prosecution counsel, Abimbola Abolade, the defendant committed the offences in 2017 at Jacob Adeleye Street, Odoeran, Itire area. She added that the suspect s+d¥ally a§saulted the victim, by inserting his finger inside her vag+na & inserting his p+nis inside her mouth She said that Orekoya’s offences were contrary to Section 137 of the criminal law of Lagos State 2015. The defendant however pleaded not guilty to the charges, prompting Justice Soladoye to adjourn the case until April 17, 2024 for the commencement of trial.

President Bola Tinubu has ordered the full implementation of the Stephen Oronsaye report.⁣ The Oronsaye report proposed a leaner government by merging some agencies and scrapping many others. The president’s decision was announced by a presidential spokesperson, Bayo Onanuga, in a post on X. “Twelve years after the Steve Oronsaye panel submitted its report on restructuring and rationalizing Federal government parastatals and agencies and a white paper issued two years after, President Tinubu and the Federal Executive Council today decided to implement the report,” Mr Onanuga wrote. “Many agencies will be scrapped and many others will be merged, to pave way to a leaner government,” he said. Minister of Information and National Orientation, Mohammed Idris, also disclosed this while briefing State House correspondents at the end of the FEC meeting, presided over by President Bola Tinubu, at the Council Chamber, Presidential Villa, Abuja. The minister explained that with the adoption of th...

The Chairman of Geometric Power Group, Professor Barth Nnaji, has explained that his passion to contribute to industrial development in Igbo land in a manner that would accelerate rapid development of Nigeria was the major influence behind the decision to locate the Geometric Power Plant in Aba. Nnaji, who was Nigeria’s former Minister of Power, disclosed this at the leadership colloquium on, “Igbo Leadership and Development,” that was convened recently. He said: “I am passionate about the rapid development of Nigeria, starting with Ala Igbo because of the structural problems it has faced since the end of the Nigerian Civil War in 1970 and also because of its enormous technological and economic potential. “Geometric Power Limited is making its contribution to help reclaim the old economic days of the Great Zik of Africa, Dr. M.I. Okpara and many others. Once Geometric Power addresses the electricity challenge in nine out of 17 local government areas in Abia State fully, not even the sk...

The Central Bank of Nigeria (CBN) is considering raising the minimum capital requirements for Bureau De Change (BDC) operators to N2 billion for Tier 1 licenses and N500 million for Tier 2 licenses. It was previously N35 million for a general license. The updated regulations encompass numerous modifications to the guidelines governing BDC activities within the nation. Once approved, these updated guidelines will come into effect on a date determined by the CBN. Tier 1 operators must maintain a minimum share capital of N2 billion and also submit a Mandatory Caution Deposit of N200 million. The fee for application is N1 million, while the license fee amounts to N5 million. In Tier 2, operators are required to possess a minimum share capital of N500 million and maintain a Mandatory Caution Deposit of N50 million. The application fee is N250,000, while the license fee amounts to N2 million. The central bank also mentioned that the specified minimum capital requirement for BDCs, along with ...