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The Police Command in Anambra has refuted a story trending on social media and in some national dailies that 21 soldiers were killed in the state. The News Agency of Nigeria (NAN) reports that the denial is contained in a press release by SP Tochukwu Ikenga, the Anambra police spokesperson, and made available to journalists…
1 hour ago
The Presidential Committee on Fiscal Policy and Tax Reforms has recommended an increase in the value-added tax (VAT) rate. Nigeria’s current VAT rate sits at 7.5%. The chairman of the committee, Taiwo Oyedele, made the recommendation during a policy session of the committee on Monday. Oyedele proposed a revision to the current VAT revenue-sharing formula…
3 hours ago
Residents in many Lagos districts are facing power outages due to faults in several electricity feeders, according to Eko Electricity Distribution Company (EKEDC). Eko Electricity stated that the service disruptions over the past two days caused faults affecting seven feeders across Mushin, Lagos Island, Urban Prime, Festac, Ojo, Ajele, and Orile districts. “There has been…
3 hours ago
The Nigerian government has denied the bribery allegations made by cryptocurrency exchange Binance. Binance Chief Executive Officer Richard Teng alleged that Nigerian government officials demanded bribes to resolve its case in the country. The Federal Ministry of Information and National Orientation, in a statement on Wednesday, called Binance’s claim of a $150 million bribe demand…
4 hours ago
The House of Representatives has described the escape of one of the two Binance chiefs from custody as most disappointing, embarrassing, and disturbing, saying it portrays the porosity of the security architecture of Nigeria to the world. The lawmakers, however, resolved to investigate the circumstances leading to the escape of the Binance executive from the…
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