The Naira lost N1 against the US dollar on the official exchange on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency was trading at N1,509/$1 on Tuesday compared to N1,508/$1 recorded the previous day. The intraday high and low prices recorded during the day were N1,521/$1 and N1,445/$1 respectively, indicating a slim spread …
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Sokoto State said on Tuesday that the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, has no authority to appoint district and village heads in the state. The state Attorney General and Commissioner for Justice, Muhammad Nasiru Binji, stated this at a public hearing on the proposed amendments to the Sokoto State Local Government and Chieftaincy Act 2008 at the state …
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The Nigerian Wrestling Federation has announced six athletes who will represent the country at the 2024 Olympic Games in Paris. The team includes five female wrestlers, one male freestyle wrestler and three coaches, and they were introduced on Monday during a festive event at the Dynamite Wrestling gym in Yenagoa, Bayelsa State. The wrestlers featured are Tokyo Olympics silver medallist …
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Sugum Mai Mele, Commissioner for Local Government and Emirati Affairs in Borno, has revealed that one of the suicide bombers involved in the recent attacks in Gwoza local area begged for money before detonating his explosive device. On Saturday, June 29, four suicide bombers carried out attacks in various locations in Gwoza. Speaking to Channels TV on Monday, July 1, …
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Fourteen people were killed when a three-story building collapsed in the southern Egyptian city of Assiut on Monday. The city’s governor, Essam Saad, said on Tuesday. He said the bodies were recovered from under the rubble during search and rescue operations by emergency workers. “Six people were rescued and have been shifted to hospital,” Saad said. According to him, poor …
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Tinubu Approves New Withholding Tax Policy President Bola Tinubu has approved a new withholding tax policy to replace the old one introduced in 1977. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, announced this on Tuesday, July 2. The new withholding tax policy introduces significant reforms designed to ease the heavy burden that the …
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A Lagos federal court has criticized the Economic and Financial Crimes Commission (EFCC) for declaring Margaret Emefiele, wife of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, a wanted man. On Friday, Justice Presiding Judge Deinde Dipeolu ruled in favor of Margaret’s fundamental rights case, ordering the EFCC to pay her N3 million in damages for violating her rights. …
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Former aide to former President Goodluck Jonathan, Reno Omokri, has advised Federal Capital Territory (FCT) Minister, Nyesom Wike to remain calm and desist from engaging in unnecessary conflicts as it will create more distractions from significant political battles and potentially counterproductive to winning the upcoming elections in the FCT. Omokri, who gave the advice in a post on X on …
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Cristiano Ronaldo confirmed his retirement plans after Portugal beat Slovenia on penalties at the Euros to reach the quarter-finals. The former Real Madrid star broke down in tears after watching Slovenian goalkeeper Jan Oblak save his spot kick in extra time, before scoring his second in a triumphant shootout. “It’s definitely my last European Championship,” the 39-year-old, who has played …
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In an effort to stimulate business activity and reduce compliance barriers, Nigeria has approved a simplified withholding tax regime. This announcement comes from Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reform, via his official account X, on Tuesday. Background: The withholding tax, introduced in 1977, serves as an advance payment on income taxes for certain …
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