Business

JUST IN: Sectoral Debates: CBN Gov Cardoso, Edun arrive House of Reps

Published

3 years ago

February 6, 2024

441 Views

Governor of the Central Bank of Nigeria, Yemi Cardoso and the Minister of Finance, Wale Edun are currently before the House of Representatives in the ongoing sectoral debate on the economy.

The Executive Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji and the Minister of Budget and National Planning, Abubakar Bagudu are also before the lawmakers.

It would be recalled that the House has been holding sectoral debates on different sectors. Last November, the House held a similar retreat on the Defence sector.

In his speech, the FIRS Chairman told the lawmakers that the FIRS is not going to introduce any new taxation or increase the existing tax.

He noted that FIRS is not a revenue-generating agency but only serves as a collector. He added that he is confident that his agency is confident of exceeding the N19.2 trillion as stated in the 2024 budget.

“We are not a revenue generating agency, but a revenue collector. We only collect based on policies,” Mr Adedeji said in his statement.

He informed the lawmakers that the agency is struggling to get all petroleum tax due to oil theft and cuts in production.

At the time of filling this report, the Central Bank Governor was speaking on the FX volatility and lack of liquidity in the market.

Related Topics:Edun Featured House of Reps

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Business

BREAKING: Uber winds down operations in Nigeria, effective September 2

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.”

Published

8 hours ago

September 2, 2026

OCHEFA

22 Views

• An Uber driver at work

Ride-hailing company, Uber, has shut down its operations in Nigeria.

In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.

“After a thorough review, we have taken the difficult decision to wind down operations in Nigeria, effective September 2, 2026.”

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.

“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”

Uber said said its plan is to support drivers, riders and local team members through the transition.

Business

Allawee shutting down operations by December 1, warns customers must withdraw by November 30

Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.

Published

16 hours ago

September 2, 2026

OCHEFA

28 Views

• Allawee logo

Nigerian card-issuing fintech Allawee is shutting down its business and personal account services from December 1, 2026.

This follows its acquisition by Pay Stack.

Accordingly, customers have been given until November 30 to withdraw their funds and make alternative arrangements.

The company disclosed the decision in emails sent to customers, according to TechCabal, explaining that its technology now operates within Paystack following the latter’s acquisition of Allawee in 2025.

Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.

Customers have been advised to withdraw their balances before the deadline, provide new bank details to people or businesses that regularly pay them, and replace saved Allawee card information on subscriptions and other recurring payments.Allawee said customers would not lose their money because of the shutdown. “Your money will remain yours,” the company said.