GOP Senate Tax Plan Differs from House Version
Senate Republicans outlined their vision on Thursday for tax reform; proposing a one-year delay in President Trump’s top priority – cutting the corporate tax rate – while reinstating some prized tax breaks used by middle-class families. The Senate bill differs significantly from the House version approved by the Ways and Means committee on Thursday. Tax […]
Equifax Hack Leaves Millions Vulnerable
Equifax, the credit-monitoring company, has reported a breach that has apparently exposed sensitive data regarding millions of Americans. The company says the hack exposed the Social Security numbers and other data of 143 million american citizens. The Atlanta-based company claimed that “criminals” exploited a US web application. The exploitation allowed for the criminals to access [...]
Unemployment Rate Lowest in 16 Years
As president Donald Trump’s approval ratings continue to decline rapidly, the United States unemployment rate has fallen to 4.3 percent, as of July, according to the Bureau of Labor Statistics, making it the lowest rate in 16 years. The last time the nation has seen the same rate was in May of 2001. However, despite […]
Nigeria Must Spend Out Of Recession: Kemi Adeosun
Finance minister Kemi Adeosun says spending on “capital and critical infrastructure” is the way for Nigeria to grow. “If we spend more on capital and critical infrastructure, we will be able to industrialize and make many more of our sectors viable,” she said in her presentation at the Daily Trust Dialogue. Her presentation centered on […]
Inflation Is Out Of CBN’s Control – Expert
Dr Olusegun Omisakin, the Head of Research, Nigerian Economic Summit Group (NESG), says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN). Omisakin made the observation on Monday in Lagos. Data released by the National Bureau of Statistics (NBS) on Jan.13 showed that December 2016 inflation rate […]
We Will Not Succumb To Blackmail, CBN Assures Nigerians
The Central Bank of Nigeria (CBN) has described the Wailing Wailer Group, using the hashtag #OccupyCBN on Twitter, as blackmailers fighting for the interest of economic saboteurs. In a statement, the apex bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, said the allegations by the group were “false and fabricated”. It would be recalled that […]
NDDC Denies Alleged Diversion Of N120bn
The Niger Development Commission (NDDC) has denied allegation that it diverted N120 billion to sponsor a major political party in recent elections in Edo and Rivers. A statement issued by NDDC’s Head of Corporate Affairs, Mr Chijioke Amu-Nnadi, on Thursday in Port Harcourt, said the Niger Delta Revolutionary Crusaders (NDRC) made the allegation. Amu-Nnadi said […]
AfDB To Fund Agro-Industrial Park For North West Nigeria
The African Development Bank (AFDB) will partner with the Sokoto State Government in its plans to establish an agro-industrial park for the North West geo-political zone, its President, Dr. Akinwumi Adeshina, has said. As a starting point to the realization of the overall objective of the project, cotton production would be given priority attention in […]
N-Power: FG Pays N30, 000 Stipends
The Federal Government has commenced the payment of the N30, 000 monthly stipends for beneficiaries of the N-Power scheme -the job creation programme of the Buhari presidency. The N-Power programme is designed to engage the teeming and massive numbers of unemployed Nigerian graduates from tertiary institutions across the country. The Senior Special Assistant, Media and […]
Fears as Nigeria Naira Weakens To N490/$, 590/£
The Naira, late Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break. The Naira lost 5 points, representing a depreciation of 1.03 per cent, while the Pound Sterling and the Euro closed at N590 and 502, respectively. At the Bureau De Change […]