The Federal Government has withdrawn the money laundering charges filed against an executive of Binance Holdings Limited, Tigran Gambaryan. In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering. Gambaryan has been in detention since February following the clampdown on Binance over alleged manipulation of the Nigerian currency. At …

Publicly available data show that the Nigerian economy is responding progressively to the economic policies of the Bola Tinubu administration, according to policy think tank, the Independent Media and Policy Initiative (IMPI) This, the group, says is contrary to the doomsday prognosis of a dysfunctional economy by some self-styled analysts. In a policy statement by its Chairman, Dr. Niyi Akinsiju, …

The Minister of Solid Minerals Development, Dr. Dele Alake has inaugurated a fact-finding team constituted in the heat of the face-off between Osun State Government and Segilola Resources Operating Limited (SROL). Last week, the minister announced the constitution of a fact-finding committee to look into the circumstances that led to the sealing off of the gold mining company on account …

President Bola Ahmed Tinubu said Nigeria’s slow economic growth rate prompted his administration to embark on various reforms aimed at achieving sustainable and inclusive growth. Speaking at the 54th Annual Accountants’ Conference with the theme: ‘Governance reimagined: Mapping the future’, President Tinubu emphasised Nigeria was not growing fast enough and decades of underinvestment have hindered the economy’s potential. Represented by …

In a groundbreaking move, Nigeria has commenced the sale of crude oil and refined petroleum products in Naira In a statement on Saturday, the Director of Information and Public Relations in the Federal Ministry of Finance, Mr. Mohammed Manga said that the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun announced that, in line with the …

The Ministry of Solid Minerals Development said it is probing the claims and counter-claims of Osun State Government and Thor Explorations Limited, owners of the Segilola Resources Operating Limited over taxation and operational matters. The Minister of Solid Minerals Development, Dr. Dele Alake announced on Friday that a fact-finding team has been set up to engage both parties towards resolving …

The Bank of Industry (BoI) has emphasised that Nigeria must enhance its production capacity to achieve a one trillion-dollar economy by 2026. The Divisional Head of Services, BoI, Isa Omagu, stated this on Saturday at the 2024 annual conference of the Finance Correspondents Association of Nigeria in Lagos with the theme, “Nigeria’s Journey Towards a $1 trillion Economy: Impact of …

Ahead of its two-day National Conference and Annual General Meeting, starting on 8 October at the Nicon Luxury Hotel in Abuja, the Nigeria chapter of the Chartered Institute of Logistics and Transport (CILT) said that the primary objective of the sessions is to “support and complement the efforts of the Federal Government to transform the transportation and logistics systems of …

The Federal Ministry of Budget and Economic Planning, in collaboration with the Nigerian Economic Summit Group (NESG), has designed the 30th edition of the summit (NES-30), to address the current economic headwinds facing the country with a view to creating a pathway to stability. Themed, ‘Collaborative Action for Growth, Competitiveness and Stability’, the summit will hold from 14-16 October 2024 …

The Tinubu Stakeholders Forum (TSF) has described reports by the National Bureau of Statistics (NBS) of a 150 per cent increase in Company Income Tax (CIT) in the second quarter of 2024 as a remarkable achievement and positive development. In a statement by its Chairman, Ahmad Sajoh, and Secretary Afolabi Josiah, TSF said the massive improvement in the Q2 2024 …