Category: Business

Enugu establishes Diaspora Desks across LGAs ,as NiDCOM hosts South-East Investment Summit

Lukman Laleye Babalola

In a landmark move to harness the economic potential of Nigerians living abroad, Enugu State has announced the establishment of Diaspora Desks in all its Local Government Areas. This initiative was unveiled during the South-East edition of the Nigerian Diaspora Commission’s (NiDCOM) Sensitisation and Advocacy Programme to promote diaspora investment across the region.   Representing Governor Peter Mbah at the event, Prof. Chidiebere Onyia emphasized the vital role of the Nigerian diaspora in driving economic growth through remittances, expertise, and innovation. Onyia reiterated the state’s ambition to grow its GDP…

CAC Registrar-General charges Media Practitioners to uphold Professionalism

Lukman Laleye Babalola

The Registrar-General/CEO of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, has called on media practitioners to maintain high standards of professionalism and adhere strictly to ethical practices in their reportage. Magaji made this call while hosting the Group Chief Executive Officer of Media Trust Limited, Ahmed I. Shekarau, in his office. He emphasized the critical role of the media in delivering accurate and reliable information to the public, urging journalists to prioritize truth and professionalism. The Registrar-General also spoke on the Commission’s ongoing transition from a manual to an…

CAC RG flags off Nationwide Training for Compliance and Enforcement Officers

Lukman Laleye Babalola

The Registrar-General/CEO of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, has inaugurated a nationwide training program for compliance and enforcement officers.   The event, held at the Nigerian Bar Association auditorium in Abuja, is part of the Commission’s efforts to enhance post-incorporation enforcement capabilities. The training, themed “Re-engineering the Commission for Effective Discharge of Compliance and Enforcement Mandates to Ensure Efficient Management of Corporate Vehicles,” gathered participants from all 36 states. Magaji highlighted the crucial role of state offices in ensuring compliance, described the initiative as a sustainability strategy…

NNPCL Tops Nigeria’s Tax Contributions with ₦10 Trillion Remittance in 2024

Emporium Reporters

The Nigerian National Petroleum Company Limited (NNPCL) has set a new benchmark by remitting ₦10 trillion to the federation account in 2024, making it the highest taxpayer in the country.   This was disclosed by the Group Chief Executive Officer (GCEO), Malam Mele Kyari, during his presentation to the National Assembly’s joint committee on Finance, detailing the company’s revenue performance for 2024 and its projections for 2025.   Highlighting NNPCL’s commitment to transparency, Kyari noted that the company is the only one in Nigeria that publishes its complete account statements…

Dabiri-Erewa praises CBN Governor Cardoso on Launch of Non-Resident Nigerian Accounts

Lukman Laleye Babalola

Hon. Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), has applauded Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), for introducing two new financial products aimed at Nigerians living abroad: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA).   In a statement released by Abdur-Rahman Balogun, Head of Media, Public Relations, and Protocols at NiDCOM, the initiative is described as a significant move to deepen diaspora engagement and bolster the nation’s economic growth.   Dabiri-Erewa highlighted the pivotal role of…

NCC, FCCPC sign MoU to Boost Consumer Protection, Fair Competition

Lukman Laleye Babalola

In a significant move to enhance consumer protection and ensure fair competition within Nigeria’s rapidly evolving telecommunications sector, the Nigerian Communications Commission (NCC) has formally signed a Memorandum of Understanding (MoU) with the Federal Competition and Consumer Protection Commission (FCCPC) on January 14, 2025.   The agreement, executed in Abuja, underscored the NCC’s commitment to fostering a transparent, competitive, and consumer-focused telecommunications industry.   In his speech,Dr. Aminu Maida, the Executive Vice Chairman of NCC, described the MoU as a long-awaited and pivotal milestone in the collaboration between both regulatory…

FG to Blacklist 18 Banks Over N200 Billion USSD Debt

Emporium Reporters

By Ibrahim I. Newton   The Federal Government is poised to blacklist 18 banks for failing to settle nearly N200 billion owed to Nigerian telecom operators for Unstructured Supplementary Service Data (USSD) services. The move, expected to be announced tomorrow, follows years of unresolved debt that has strained relations between the banking and telecommunications sectors.   In December 2024, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) issued a final directive to Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to resolve the N250 billion…

CAC Registrar-General briefs Minister of Industry on milestone achievements, receives commendation

Lukman Laleye Babalola

The Registrar-General and CEO of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, presented a comprehensive briefing to the Minister of Industry, Trade, and Investment, Dr. Olajumoke Oduwole, highlighted the Commission’s significant achievements under his leadership.   During the briefing themed “Building a Customer-Centric Registry of the 21st Century,” Magaji detailed various initiatives that have enhanced industrial harmony and improved career progression within the agency. He reported the amicable resolution of several cases at the National Industrial Court, with appropriate compensation paid where necessary, and the successful completion of promotion…

NCC, CBN set July 2025 Deadline for Banks, MNOs to resolve ₦250Bn USSD Debt

Emporium Reporters

The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have issued a deadline of July 5, 2025, for Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to settle the ₦250 billion Unstructured Supplementary Service Data (USSD) debt.   In a joint circular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators,” both regulators outlined measures to resolve the protracted dispute between the financial and…

Newly promoted staff pay solidarity visit to CAC Registrar-General

Lukman Laleye Babalola

A delegation of jubilant staff of the Corporate Affairs Commission (CAC), recently promoted to various ranks, paid a solidarity visit to the Registrar-General/CEO, Hussaini Ishaq Magaji, expressed appreciation for the milestone. The team, comprised newly promoted Deputy Directors, Assistant Directors, and other cadres, was warmly received by the Registrar-General at the Commission’s headquarters. In his address, Magaji commended the hard work, dedication, and professionalism of the staff, which he described as instrumental to the Commission’s success. He assured them of his unwavering commitment to enhancing their welfare and professional growth.…