Why FG Halts Lagos-Calabar Coastal Road Project Realignment

LAGOS MAY 25TH (NEWSRANGERS)-The federal government has shelved and diverted realignment of Lagos-calabar coastal road projects while also saving the telecommunications infrastructure and submarine cables, among others at the axis. With the presidential directive, Telcos, MTN submarine cables, and workstations along the Okun-Ajah community axis have been saved from demolition after a thorough assessment of…

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FG Imposes Mandatory Annual Levy Of Between $15k And $10k On Expatriate Workers

LAGOS FEBRUARY 28TH (NEWSRANGERS)-Nigeria has imposed a mandatory annual levy for organisations employing expatriate workers, requiring them to pay $15,000 (£12,000) for a director and $10,000 for other categories. The move is meant to encourage foreign companies to employ more Nigerian workers. Staff of diplomatic missions and government officials are exempt. President Bola Tinubu has…

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Federal Govt Technically Devalues The Naira

LAGOS MARCH 21ST (NEWSRANGERS)-Nigeria has technically devalued the naira at the Investors and Exporters (I&E) trading window from N366.70 to N380.20. A source at the Central Bank of Nigeria, who asked to remain anonymous confirmed the development Friday to THEWILL. The move is expected to sustain foreign portfolio investors’ interest in Nigeria’s financial instruments. Nigeria…

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