Business

Recapitalisation: Labour Ministry charges banks to protect workers

Recapitalisation: Labour Ministry charges banks to protect workers

By Victor Ahiuma-Young & Omotola Aremo The Federal Ministry of Labour and Employment has cautioned banks and insurance companies against allowing workers to bear the brunt of the ongoing recapitalisation and restructuring in the financial sector. The Ministry made the call during the 2026 World Day for Decent Work celebration organised by the Association of […]
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New Lagos Land Use Charge: All you need  to know

New Lagos Land Use Charge: All you need to know

THE re-enacted Lagos State Land Use Charge Law that has replaced the one enacted in 2001, has been greeted with public outcry because of misunderstanding of its provisions. However, a detailed look at the Land Use Charge (LUC) Law (2018), which is the state government’s property tax, indicates that it is a consolidation of ground rent, tenement rate, and neighbourhood improvement levy

Nigeria’s external reserves hit $46bn

Nigeria’s external reserves hit $46bn

Nigeria’s External Reserves are steadily heading towards the $50 billion mark, berthing at $46 billion as at the close of business on Friday, March 9, 2018.

Fraud cases by bank staff rises – NDIC

Fraud cases by bank staff rises – NDIC

Nigeria Deposit Insurance Corporation (NDIC) says the number of fraud cases attributed to internal abuse by staff of banks increased from 231 in 2016 to 320 in 2017.