CBN Directs Naira Payout For Diaspora Remittance 

The Central Bank of Nigeria (CBN) has issued a letter to all Deposit Money Banks (DMBs), International Money Transfer Operators (IMTOs), and the general public, announcing the inclusion of the Naira as a payout option for diaspora remittances. In the list are Western Union, World Remit Limited, CashPot Limited, eTransact International Limited, Leadremit Limited, Flutterwave Technology Solutions Limited, and Interswitch Limited. Others are Belyfted Limited, Caperemit UK Limited, Chime In (Sendwave), Colony Capital Limited, Comet Trading Nigeria Limited, CSL Pay Limited, CP Express Limited, among others.

Tinubu Signs Executive Orders, Halts 5% Excise On Telecoms

President Bola Tinubu has signed four Executive Orders which include the suspension of the five percent Excise Tax on telecommunication services, Excise Duties escalation on locally manufactured products, The Customs Tariff (Variation) Amendment Order, and to halt the newly introduced Green Tax, an Excise Tax on Single-Use Plastics, which includes both on containers and bottles. This was revealed by the President's Special Adviser on Special Duties, Communications, and Strategy, Dele Alake 6th July 2023 at the Presidential Villa. The move is in a bid to address the issues raised by the manufacturers and other stakeholders as regards the recent tax changes, and response to the clarity on tax adjustment as specified in the 2017 National Tax Policy, as to create a business-friendly environment.

Court Stops Abuja Administration From Demolishing Trademore Estate

A Federal High Court presided by Mohammed Zabairu in a temporary injunction has stopped the Federal Capital Territory Development Authority (FCDA) from demolishing the Trademore Estate situated in the Lugbe area of Abuja
Justice Zubairu ordered that the first to fourth defendants/respondents to maintain the status quo and stop plans to demolish the estate. In Motion No: M/11692/2023 dated July 12, 2023, the first to fourth defendants/respondents are the Minister of the Federal Capital Territory, the FCDA, Abuja Metropolitan Management Council (AMMC), and the Abuja Municipal Area Council (AMAC).

Kwara State Govt. Makes U-Turn On 3-days Work Policy

Kwara state Government has reversed its earlier policy directive that gives the state civil Servants a leverage of working for only three days a week. The state government had sometime in June, 5th, 2023 following the removal of fuel subsidy by the federal government, through a letter originated from the office of the Head of Service, HOS, Mrs Susan Oluwole, reduced the work days for civil servants to three days a week instead of five.

FERMA Plans Repair Of Federal Government Roads

The Federal Road Maintenance Agency (FERMA) has disclosed that it plans to repair damaged portions of Federal Government roads across the country. This was made known during an interview on Sunday by the acting Managing Director, FERMA, Mr Godson Amos, who stated that the repairs are necessary to alleviate the delays experienced by road users as a result of damaged roads.

NAFDAC Warns Against Consumption Of Contaminated Sprite Drink

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised alarm against consumption of a particular batch of “unwholesome Sprite 50cl” glass bottles circulating in Nigeria. The product with the following details: Sprite 50cl glass bottles, BN: AZ6 22:32 MFD: 180423 BB:180424, has been adjudged harmful by the agency during preliminary investigation conducted by the post-marketing surveillance unit of NAFDAC. The investigation, which was initiated following a consumer complaint revealed that over five (5) crates of the implicated batch of Sprite 50cl were contaminated with particles.

Tinubu Institutes Committee On Tax Reforms

President Bola Tinubu in his quest for business growth in the nation, has set up a Presidential Committee on Fiscal Policy and Tax Reforms, which will be chaired by Mr. Taiwo Oyedele, the leader of the Fiscal Policy Partner and Africa Tax at the PriceWaterhouseCoopers (PwC). The Committee members will comprise experts both from the private and public sectors, taking responsibility for various aspects of tax law reform, fiscal policy design, coordination, harmonization of taxes, and revenue administration. Special Adviser to the President on Revenue, Adelabu Zacch Adedeji, explained that President Tinubu recognizes the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the government and the economy.

Proof of Ownership: FG Set To Introduce Annual Fee For Vehicles

According to reports, the Federal Government (FG) has announced the introduction of a N1,000 annual fee to be paid by vehicle owners in the country for a Proof of Ownership Certificate (POC). This was made known on Tuesday by the Permanent Secretary, Lagos Ministry of Transportation, Abdulhafiz Toriola, stating that the POC would assist in tracking car theft and recovery of stolen vehicles.

FAAN Sets New Toll Tariff Fare At Abuja Airport

The Federal Airport Authority of Nigeria (FAAN) has announced an upward review of toll tariff fares at the Nnamdi Azikiwe International Airport (NAIA). The adjustment in fares is expected to take effect from 17th July 2023.
The FAAN management revealed in a statement on 06th July 2023, that the new fares for cars will no longer be N200 but N300, Buses and Sports Utility Vehicles (SUVs), move to N500 as against N300, trucks (six tyres) would change from N500 to N1000, while trailers and container tariff would be N2000.

President Tinubu Arrives France For New Global Financial Summit 

President Bola Ahmed Tinubu has arrived in Paris, France, preparatory to the summit on New Global Financing Pact, which will be hosted by President Emmanuel Macron. According to a statement by presidential spokesman, Dele Alake, President Tinubu was received at the airport by Ambassador Kayode Laro and other top government officials from the Nigerian Embassy and French Ministry of Foreign Affairs, after the plane touched down at 6.47pm local time.