Financial technology companies have started charging levies on electronic transfers into personal and business accounts in compliance with the Federal Inland Revenue Service regulations. In a notice to its customers on Saturday, OPay, one of the fintechs, stated, āDear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will…
The federal government through the Corporate Affairs Commission (CAC) has warned Point of Sale (POS) operators in the Fintech sector and threatened to shut down those who fail to register their businesses. The CAC in a statement on Friday noted that the 60-day deadline for registration, which expired on September 5, 2024, has not been…
With today, September 5, 2024 being the deadline given by the Corporate Affairs Commission (CAC) for banking agents, known as Point of Sale (POS) operators to register their activities or face prosecution, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has challenged the directive in court. Recall that the federal government through…
GISTSMATE MEDIA reports that Aliko Dangote, the Chairman of Dangote group, has officially confirmed rollout Premium Motor Spirit (PMS), also known as petrol from its refinery. Dangote, while addressing the press on Tuesday, described the development as a turnaround for the country after many years of not producing a single litre of petrol. The group…
The Nigerian National Petroleum Company (NNPC) Limited has announced plans to partner with private firms for the management and maintenance of its refineries in Kaduna and Warri. This initiative aims to strengthen the nationās petrol supply and enhance energy security. The announcement was made through a circular on NNPCās official X account on Thursday. The…
The Chairman of BUA Cement, Alh. Abdul Samad Rabiu, yesterday recounted how cement dealers frustrated his companyās N3, 500/bag policy, last year. He spoke at the 8th Annual General Meeting of the company in Abuja. Neighbor recounts how woman abused 12 years old niece, burnt her with hot knife and forced…..0.00 / 0.00 He said…
The Federal Government through the Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month ultimatum to traders and market stakeholders to slash prices of goods and services nationwide. Executive Vice Chairman of the commission, Tunji Bello, made the announcement at a stakeholdersā engagement in Abuja, warning that enforcement actions will follow after the…
The Federal government through the National Data Protection Commission has slammed Fidelity Bank with a fine of N555.8 million for violating customer data protection laws. This announcement was made by the commissionās National Commissioner, Vincent Olatunji, at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive in Abuja on Wednesday….
The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official…
The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion. In a world press conference held at the NNPC…
