Business

Oscar Onyema, the Chief Executive Officer of the Nigerian Stock Exchange has completed his tenure.

Onyema, 52, assumed the position on April 4, 2011. He was formerly Senior Vice President of the American Stock Exchange.

In a statement on Tuesday, Olumide Orojimi, Head of Corporate Communications, said a closing ceremony was held to honour him.

Orojimi noted that the NSE experienced significant growth under the former CEO. He cited the recent completion of the demutualisation of The Exchange.

Onyema recalled he took over when the stock market was “in …

The National Bureau of Statistics (NBS) has revealed that as of the end of Q4 2020 which is Dec. 31, 2020, Nigeria’s total public debt portfolio stood at ₦32.92 trillion.

It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja.

It added that the debt profile was for the States and the Federal Government.

According to the bureau, Nigeria’s total public debt showed that ₦12.71 trillion or 38.60 percent of the debt was external, while ₦20.21 trillion or 61.40 percent of the debt was domestic.

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Nigerian airline Air Peace has reaffirmed its decision not to cancel an order of Boeing 737 Max, which recently was recertified to resume operation.

The Chairman of the airline, Allen Onyema, while Speaking at the delivery of its second brand new Embraer E195-2 in Abuja on Thursday, stated that its order of the technology advanced aircraft subsists and that the timeline for its delivery would be announced while noting that it canceling the order was not even being considered.

Speaking further, Onyema said that the airline plans to replace the older aircraft in its fleet, made largely of B737 classics …

Azman Air is running into distress due to the suspension by the Nigerian Civil Aviation Authority (NCAA).

The airline announced a halt in operations due to a safety audit by the NCAA.

This followed the sanction by the regulator after a management meeting on Monday.

NCAA Director-General Captain Musa Nuhu, explained that the decision followed a series of events involving the airline’s Boeing 737 aircraft.

Nuhu said it was pursuant to Section 35 (2) of the Civil Aviation Act, 2006, and Part 1.3.3.3 (A) of the Nigeria Civil Aviation Regulations (Nig.CARs) 2015.

YouTube has announced plans to start deducting taxes from creators outside the United States on the earnings they generate from viewers in the US.

The company made this known in an email to creators.

The additional tax may come into effect from June, 2021.

Read Also: Russia Wages Online War Against TikTok And YouTube

YouTube also demanded that creators submit their tax information in AdSense ‘to determine the correct amount of taxes to deduct’.

‘If your tax info is not provided by May 31st, 2021, Google may be required to deduct up to 24 per cent of your total earnings

A member of the Presidential Economic Advisory Council and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has warned that unless the economy grows by, at least, 7% to 8% percent yearly in the next five to 10 years, the country risks multidimensional poverty, debt crisis, and heightened insecurity.

According to him although Nigeria has the biggest gross domestic product (GDP) in Africa, it needs to attract both domestic and international capital to grow the current $446.543 billion GDP to $1.5 trillion by 2030 when the country’s population would be 250 million.

The economist, who spoke at a …

Telecommunications network MTN Nigeria has announced that it enrolled 37.2 million National Identification Numbers (NINs) for its subscribers in the ongoing exercise of linking the number with the Subscriber Identification Module (SIM) card.

Recall that the federal government had on February 1, 2021, put the total figure of NINs received by all mobile network operators, at 56.18 million, up from the initial 47.8 million NINs received as of January 18.

With the 37.2 million NINs received by MTN alone, the telecoms company has assured the federal government of its commitment to speed up the NIN-SIM linkage exercise, as mandated by …

Director-General of the Securities and Exchange Commission, Mr. Lamido Yuguda has revealed that Ponzi schemes are a threat to the protection of investors and an orderly financial market.

He stated this during a two-day webinar by the Attorney General Alliance-Africa and SEC on Tuesday.

Yuguda however stated that the SEC has a statutory duty to promote investor education and the training of persons in the capital market, saying that the programme is organized in furtherance of that statutory mandate.

Read Also: Tackling Menace Of Ponzi Schemes

‘The pervasiveness of Ponzi schemes undermines regulatory efforts in developing the capital market, and …

Oil marketers in Nigeria have described the present scarcity Premium Motor Spirit (PMS) and other petroluem products as a tactics deployed by the Federal Government and its agencies to hike the price of petrol in the country.

Nigeria’s major oil company, Nigerian National Petroleum Corporation had on on Monday insisted that it had enough product to keep the country wet with petrol for about 40 days or even more.

The queues by motorists for petrol grew worse in Abuja and neighbouring states of Nasarawa and Niger on Monday as only a few filling stations dispensed the commodity.

Read Also: Fuel

Former Finance Minister, Ngozi Okonjo-Iweala has resumed her new position as the Director General of the World Trade Organisation, WTO.

WTO disclosed this on his verified Twitter handle on Monday.

Read Also: WTO: I Cannot Afford To Fail, Says Okonjo Iweala

The trade organisation said Okonjo-Iweala was the first woman and African to take up the job.

‘Welcome to Dr Ngozi Okonjo-Iweala; @NOIweala on her first day as WTO Director-General!’

‘She makes history as the first woman and first African to take up this post,’ WTO tweeted.

Africa Daily News, New York had recently reported the appointment of Okonjo-Iweala as …