Category: Business

Buhari nominates IMF Chief, Kingsley Obiora as CBN Deputy Governor

Emporium Reporters

President Muhammadu Buhari has forwarded the name of Dr Kingsley Isitua Obiora to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria. In a letter to President of the Senate, Ahmad Ibrahim Lawan, President Buhari said the nomination was in accordance with the provision of Section 8(1) (2) of the Central Bank of Nigeria (Establishment) Act 2007. Dr Obiora, upon confirmation by the Senate, would replace Dr Joseph Nnanna, who retires on February 2, 2020. Dr Obiora holds a Bachelor’s degree in Economics and Statistics from…

Late Night Sackings: The Inside Story of an Unfolding Staff Nightmare at UBA By David Hundeyin

Emporium Reporters

Last November, thousands of Lagosians including hundreds of UBA Bank employees attended what was billed as the ‘party of the year’ at the Lekki Special Events Centre on Admiralty Way. The UBA RedTV Rave had everyone from Wizkid to Olamide to Jidenna to Burna Boy thrilling the festive crowd as UBA chairman Tony Elumelu and CEO Kennedy Uzoka mingled with the artists and guests On the surface, this was the best of times, as a bank that was clearly in rude health celebrated a successful year with thousands of employees,…

BREAKING: CBN slashes electronic transfer, ATM withdrawal charges

Emporium Reporters

The Central Bank of Nigeria (CBN) has reviewed downward electronic transfer and ATM fees as well as card maintenance fees. The new charges were contained in the latest Guide to Charges by Banks and Other Financial Institutions just released by the CBN According to the CBN, bank customers will now pay N10 for electronic transfers below N5,000, and N25 for electronic transfer between N5,000 and N50,000. Only electronic transfer above N50,000 will attract N50 charge. Previously, bank customers pay N50 charge for electronic transfers below N500,000. Further, the CBN in…

The Agenda For New FIRS Chairman By Danladi Ndayebo

Emporium Reporters

When the news broke that President Muhammadu Buhari has reconstituted the Board of Federal Inland Revenue Service (FIRS) with Mr. Mohammed Nami as chairman-designate via an executive communication to the Senate plenary on 9 December 2019, Nigerians hailed the decision as well deserving. Any keen observer of the torrents of conversations on the appointment on various media platforms will see that aggregate public response indicate high expectations for the new board; citizens’ readiness to engage and collaborate with FIRS as it discharges the onerous task of growing the economy; strengthening…

Buhari Removes Fowler, Appoints Muhammad Nami as new FIRS boss

Emporium Reporters

President Muhammadu Buhari has named  Muhammad M. Nami as the new chairman of the Federal Inland Revenue Service. He replaced Babatunde Fowler, whose tenure expired on Monday. He is a tax consultant and graduate of the Ahmadu Bello University, Zaria, Kaduna State. “Mr. Muhammad, a well-trained tax, accounting and management professional with highly rated qualifications and professional practice and licenses from relevant professional bodies, has almost three decades of practical work experience in Auditing, Tax Management and Advisory and Management services to clients in the banking, manufacturing, services and public…

FIRS Chair, Fowler May Handover Today

Emporium Reporters

The tenure of the Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler, ended on Sunday with no indication that he would get a second term in office. Fowler, who is a childhood friend and former classmate of Vice-President Yemi Osinbajo, was appointed as the FIRS Chairman on August 20, 2015 He was confirmed by the Senate on December 9, 2015 which implies that his tenure ended on December 8, 2019. The FIRS Establishment Act stipulates that “the executive chairman shall be appointed by the President subject to the…

NNPC, China Pipeline Company, Brentex Consortium, Firm Up Plans To Commence AKK Project

Emporium Reporters

The Nigerian National Petroleum Corporation (NNPC), China Petroleum Pipeline Engineering Company Limited (CPPECL) and Brentex Consortium, have concluded plans for the commencement of work on the Abuja-Kaduna- Kano pipeline project popularly known as AKK project, a release by the National Oil Company’s Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, stated. Group Managing Director of the NNPC, Mallam Mele Kyari, gave this indication when he received the President of CPPECL, Sun Quanjun and the head of the Brantex Consortium at the NNPC Towers in Abuja. Mallam Kyari…

NYSC Foundation Empowers Corps Entrepreneurs with N4.25M Loan

Emporium Reporters

The NYSC Foundation has presented a soft loan of Four Million, Two Hundred and Fifty Thousand Naira to some Ex-Corps Members as start-up capital for their businesses.   It also said the foundation would continue to strive for the well-being of serving and ex-Corps Members. The Chairman, Board of Trustees, NYSC Foundation, Mallam Mohammed Hamza stated this today while presenting cheques to some of the fifteen beneficiaries of the gesture.   He said the foundation which operates as a Non-Governmental Organisation was established in 1999 as a bankable platform to…

Industrialist Advocates Existence of Project Underwriting Insurance Agencies in Nigeria

Emporium Reporters

The federal government has been urged to adopt policy framework that will allow International Project Underwriting Insurance Agencies to operate in the country to further strengthen industrialization in a bid to create more viable business opportunities for the nation. The Chairman of Basic Metal, Iron and Fabricated Steel Manufacturers, a sectoral arm of the Manufacturers Association of Nigeria, (MAN), Drums. Kamoru Yusuf, stated this in a statement marking the 2019 Africa Industrialization Day. The group noted that the policy will allow government to fund capital projects initiated by investors covering…

Erisco Boss, Eric Umeofia Bags Industrialist of the Year

Emporium Reporters

The President and Chief Executive Officer of Erisco Foods Limited,Chief Eric Umeofia has been nominated as Industrialist of the Year by the organizers of North-Central Service Awards. Chief Umeofia was nominated through a transparent voting system participated by Nigerians especially those who reside in the North-Central states of Nigeria The North-Central service Awards is initiated by COA Media to honour individuals, groups and institutions whose outstanding selfless service and contributions are helping to change the socio-economic landscape of North-Central states and Nigeria. Date: Thursday 21st, November 2019. Venue: National Press…