• Friday, May 24, 2024
businessday logo


Five things to know to start your day

Five Things to Know to Start Your Day

NNPC reshuffles senior executives ahead of PIB implementation

The Nigerian National Petroleum Corporation (NNPC) has announced a major shakeup among senior executives in anticipation of the country’s implementation of the long awaited Petroleum Industry Bill (PIB).

According to a statement from NNPC, the reshuffling is “in alignment with the rules of Company & Allied Matters Act (CAMA), preparatory to the new status of the Corporation as a Limited Liability Company, post-Petroleum Industry Bill (PIB)”.

NNPC noted that Billy Okoye has been appointed the new Group Executive Director, Ventures & Business Development while Aisha Ahmadu-Katagum has been promoted to the position of Group Executive Director, Corporate Services.

Until their new appointments, Okoye and Ahmadu-Katagum were Group General Managers, Crude Oil Marketing Division (COMD) and Supply Chain Management Division in the Corporation, respectively.

COVID-19 infections rise in Lagos, NCDC records 442 fresh cases

Lagos State witnessed an upsurge in daily new COVID-19 cases as the Nigeria Centre for Disease Control reported additional 422 infections o August 9, 2021.

The NCDC made this known via its verified website on Tuesday morning.

Read Also: 1,398 new Covid-19 cases take Nigeria’s total infections to 103,999

It confirmed that the additional 422 cases were from nine states and the Federal Capital Territory.

The agency said that Lagos was standing at a dire inflection point, with the coronavirus cases surging and most of its population not yet fully vaccinated.

Driving the latest wave was the highly contagious Delta variant with Lagos continuing to report more than half of the daily cases in the country.

Naira exchanges for 509/$1 at parallel market

The naira held steady against the dollar at the parallel market on Monday at N509.

The naira held steady against the greenback at the parallel market from the 509/$1 at which it closed on Friday.

On the Investors and Exporters’ window, it opened at 411.39/$1. It had a high of 412.90/$1 and a low of 400/$1. The naira closed at 411.50 against the dollar on Monday.

Dollar supply continues to increase, forex turnover for the day was $166.06m, according to the FMDQ Group.

Court declares RSG, not FIRS, entitled to collect VAT related taxes in Rivers

The Federal High Court sitting in Port Harcourt has declared that it is the Rivers State Government (RSG) and not the Federal Inland Revenue Services (FIRS) that should collect Valued Added Tax (VAT) and Personal Income Tax (PIT) in the state.

Read Also: Multichoice denies receiving notice from FIRS amid ₦1.8trn tax fraud allegation

The court, presided over by Justice Stephen Dalyop Pam, has also issued an order of perpetual injunction restraining FIRS and the Attorney General of the Federation, both first and second defendants in the suit, from collecting, demanding, threatening and intimidating residents of Rivers State to pay to FIRS, personnel income tax and VAT.

NiMet to monitor marine forecast with N1bn equipment

The Nigerian Meteorological Agency on Monday announced that it would be deploying N1bn for the procurement of equipment to provide forecast for the country’s marine sector.

Director-General, NiMet, Mansur Matazu, told journalists in Abuja that although the agency was under the Federal Ministry of Aviation, it had been mandated to extend its functions to the marine sector.

He also stated northern parts of Nigeria were currently more vulnerable to high intensity rainfall, as climate change had further worsened the situation.