Category Archives: Business

How CAC Registers 69,000 Companies In 2 Months

The Corporate Affairs Commission (CAC) has disclosed that it registered over 69,000 business entities in two months. This was coming after the launch of its Business Incentive Strategy (BIS).

The acting Registrar-General of CAC, Lady Azuka Azinge, who said this during a media roundtable in Abuja recently explained that before now, the number of business registration they had in three months of the same period was about 50,000 and in two months, the number grew to over 69,000.

She also said they are still expecting to have a very large number of businesses registrations before the end of December.

According to her, the main aim of crashing the cost of business registration in Nigeria from N10,000 to N5,000 for a period of three months (1st October to 31st December 2018), was to enable massive registration of small businesses in the country.

“People are already asking for extension and we have just written to the minister of Finance to extend it for another three months. The initiative is being commended by most state governments are asking and several associations saying that we should please give more time to enable them register.”

She said the initiative was in line with the major thrust of the president Muhammadu Buhari’s administration which centred on revamping and diversification of the economy through constantly supporting MSMEs. The CAC boss said the Commission has also provided a user-friendly Company Registration Portal (CRP) via its website which gives customers real-time access to the services of the Commission from their offices or homes.

Fake PDF copies of Jonathan’s Book In Circulation

Fake PDF copies of Jonathan’s Book In Circulation – The online copy of a new book written by former President Goodluck Jonathan titled, ”My Transition Period” is fake, says the ex-president’s media aide.

The book was launched on Tuesday, November 20, 2018, in Abuja, Nigeria’s capital.

But soft copies of it in PDF, which have been shared on social media particularly WhatsApp, shows inaccurate information.

Nigeria Senate uncovers fresh $1.151bn withdrawal from NLNG fund

The Senate on Tuesday commenced investigation into alleged abuse of dividends accruing to the Nigeria Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation (NNPC).

Apart from the $1.05 billion the upper chamber asked its committee on Gas to investigate why NNPC claimed to have used to fund petroleum product subsidy, more startling revelations of massive withdrawals from the NLNG fund were said to have been discovered.

The NLNG fund owned by the three tiers of government is said to have been continually unilaterally operated by the NNPC to off set Federal Government financial obligations in exclusion of the states and local governments.

Nigeria’s oil output to hit 1.8m bpd

Nigeria will increase its crude oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday.

The country will also raise condensate production to 0.5 million bpd, he added, according to Reuters.

Nigeria produces 1.6 million bpd of oil and 0.4 million bpd of condensate.

Baru said he expected the NNPC to sign deals with consortiums this month to revamp long-neglected oil refineries.

Advert Agencies Turning Down Atiku Adverts For Fear Of Buhari Backlash

“The Atiku campaign is in soup,” said the executive, who asked not to be named. “The problem is that every advert agency the Atiku team has approached, the ones that I am aware of, they turned down the offer because of the fear that the government would move against them. I turned them down myself, both cash and cheque offers to have Atiku featured on billboards in Lagos.”

Advert agencies in Nigeria are turning down offers from Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), for fear of backlash from President Muhammadu Buhari’s government, SaharaReporters has been told.

See Beautiful Nigerian Lady Who Is A Welder

Her name is Ajara Damusa, she’s is a hard-working Welder. Many have commended her for taking the path of diligence.

See more pics…

Atiku’s 33,000 Minimum Wage Not for All Staff, Only Gotel Staff Will Get It

Gotel Communications, one of the ventures owned by Peoples Democratic Party’s presidential candidate, Atiku Abubakar, has reacted to news reports that it has begun implementation of the new minimum wage structure.

The firm’s management said in a statement Friday night that workers would start receiving N33,000 effectively from November 2018.

Nigeria Police helicopter charter services spark row in aviation

Alleged deployment of helicopters in the fleet of Nigerian Police Air Wing into commercial charter operations has sparked row in the aviation sector.

The airlines operators, who protested the move, said the police force ran foul of the civil aviation regulations that prohibited such public-owned asset to engage in “reward and hire” services.

More disturbing for the operators is alleged demarketing and gross underpricing of helicopter operations that the police air wing brought into charter operations, by reducing the average cost of charter by 80 per cent.