Africa
News stories from Africa…
Federal Government Suspends Implementation of Expatriate Employment Levy
The Federal Government of Nigeria has temporarily suspended the implementation of the recently enacted Expatriate Employment Levy (EEL) by the Federal Ministry of Interior, as administered by the Nigerian Immigration Service.
The decision came after a successful Trade and Investment … Continue Reading
REPORT: Rising Hunger Threatens 31.5 Million Nigerians
A recent report released on Friday has sent shockwaves across Nigeria, indicating that an estimated 31.5 million Nigerians could face acute hunger between June and August 2024, during the lean season. This alarming projection spans across 26 states and the … Continue Reading
House of Representatives Launches Probe into N5 Trillion Tax Default by Businesses
The House of Representatives has taken a decisive step by mandating its committees to investigate businesses operating in Nigeria. The move follows the adoption of a motion presented by Esosa Iyawe during a plenary session held on Thursday.
The motion, … Continue Reading
Africa Imports 70-80% of its Medicines – Adesina Highlights Continent’s Health Challenges
Akinwumi Adesina, the President of the African Development Bank, has shed light on Africa’s significant reliance on imported medicines, stating that the continent imports between 70 per cent and 80 per cent of its medicines. Adesina made this revelation … Continue Reading
Businessman Sentenced to Prison for N99.75 Million Fraud IN borno
In a landmark ruling, Justice Aisha Kumaliya of the Borno State High Court, Maiduguri, delivered a verdict on Wednesday, March 7, 2024, sentencing Alhaji Kyari Mohammed, the managing director of Kyari and Sons Company Nigeria Limited, to one year imprisonment. … Continue Reading
Federal High Court Orders AMCON to Recover ₦478 Million Debt from Contractor
The Federal High Court in Abuja has mandated the Asset Management Corporation of Nigeria (AMCON) to pursue the recovery of ₦478 million from Perfect Aims Global Engineering Limited and associated parties.
This decision stems from their failure to settle outstanding … Continue Reading
MTN Nigeria Foundation Invests N600 Million to Empower Female Entrepreneurs
The MTN Nigeria Foundation has launched the second phase of its Y’ellopreneur initiative, with an investment of N600 million. The initiative aims to address the gender inequality prevalent in Nigeria, where female unemployment stood at 35.2 percent in 2020.… Continue Reading
Minister of Finance Attributes Rising Inflation to N22.7 Trillion Printing by CBN
The Minister of Finance, Olawale Edun, has attributed the current economic challenges facing Nigeria, including rising inflation and economic hardship, to the printing of N22.7 trillion by the Central Bank of Nigeria (CBN) under the government of former President … Continue Reading
EFCC Arraigns Suspect for Alleged N67.08 Million Fraud
The Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC) brought Zakariyau Yahaya before Justice Benjamin Manji of High Court 9 of the Adamawa State High Court, Yola on Wednesday, March 6, 2024. Yahaya faced charges … Continue Reading
Tinubu Suspends REA MD and Executive Directors Over Alleged N1.2bn Fraud
President Bola Tinubu has taken decisive action against alleged financial misconduct within the Rural Electrification Agency (REA), suspending its Managing Director and three Executive Directors indefinitely.
The move comes after an investigation revealed suspected misappropriation of funds totaling N1.2 … Continue Reading