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Business
Court ‘freezes’ 818 bank accounts indicted in N10 billion cyber-attack on Hope PSBank
The Federal High Court in Abuja has granted the Inspector General of Police (IGP) an additional 30-day freezing order against 818 bank accounts currently under investigation for allegedly receiving “proceeds of…
Interest rate: Cardoso setting Nigeria on the right course, says World Bank
The World Bank has lauded the reforms led by the Central Bank Governor, Yemi Cardoso, noting that his monetary policies are steering the country in the right direction. Indermit Gill, Senior Vice President…
FG plans 25% tax on Nigerians earning above N100m
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that wealthy Nigerians earning N100m and above monthly will face a 25 per cent personal income tax rate if a new…
Recapitalisation: Five banks’ shares oversubscribed — SEC DG
The Director-General of the Securities and Exchange Commission, Dr Eromomotimi Agama, has stated that the five banks that tapped the market to raise fresh capital were oversubscribed. This was disclosed in a…
Almost 90% of taxpayers are people who shouldn’t be paying – Taiwo Oyedele
Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says 90 percent of Nigerian taxpayers currently are people who should not be taxed. Speaking at the 30th Nigerian Economic…
Four bloggers re-arraigned over GTCO CEO cyberstalking
The Police on Monday re-arraigned four bloggers, Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, on fresh charges before the Federal High Court in Lagos for allegedly cyberstalking and publishing…
Oil and Gas company, Aradel Holdings list on the NGX Main Board with a N3 trillion market cap
Aradel Holdings is set to officially list its shares on the Main Board of the Nigerian Exchange (NGX) at N702.69 per share on Monday, October 14, 2024. This follows the company’s recent announcement that it…
IPMAN Hopes For Lower Price As Talks With Dangote Refinery Begin
There is uncertainty over the commencement of lifting of premium motor spirit (PMS) otherwise known as petroleum from Dangote Refinery by the Independent Petroleum Marketers Association of Nigeria (IPMAN), Daily…
Family Dispute Erupts Over Estate of Late Banking Executive Herbert Wigwe
In the wake of the tragic death of Dr. Herbert Wigwe, former Group Managing Director of Access Holdings, a contentious legal battle, is…
N’assembly considering bill seeking to increase VAT from 7.5% to 10% by 2025
The national assembly is considering a bill proposing an increase in the value-added tax (VAT) from 7.5 percent to…
BlackRock Hits $11.5trn Of Assets As Private Markets Grow
BlackRock Inc.pulled in $160 billion of client cash to its long-term investment funds last quarter, pushing the world’s largest money manager to a record $11.5 trillion of assets as it seeks to become a one-stop…
Subsidy Removal Has Reduced Arbitrage – NNPC Ltd
The Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Ltd (NNPC Ltd), Mele Kyari, has said that the removal of fuel subsidy in Nigeria has reduced arbitrage. He explained that it has…
Airpeace’s Onyema Maintains Innocence As US Charges Him With ‘Justice Obstruction’
Air Peace has denied any wrongdoing by its Chairman and Chief Executive Officer, Dr. Allen Onyema, and Chief of Finance and Administration, Mrs. Ejiro Eghagha, who have been charged by the United States for…
MATTERS ARISING: Why are banks having system upgrades simultaneously?
What began as a routine digital system upgrade exercise by Sterling Bank in September swiftly morphed into an…
Price of egg to hit N10,000 per crate – Poultry farmers
Poultry Association of Nigeria (PAN) has warned that if urgent steps are not taken to support poultry farmers, prices of eggs may increase from the current N5,500 to N10,000 per crate. They attributed the rising cost…
N1,030 PMS: Petrol price may go up again – Experts warn
•We have to be extremely careful when we push for a complete deregulation – Muda Yusuf Against the backdrop of the presumed full deregulation of Premium Motor Spirit (PMS), also known as petrol, which was…
Lagos FPSO facility to add 40,000 barrels per day to Nigeria’s crude oil production — Oil Minister
The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has announced that the FPSO facility in Lagos, a joint venture between NNPC Limited and Century Nigeria Limited, is nearing completion and will soon…
$20m Fraud : US Government Charge Air Peace CEO, Allen Onyema With Obstruction Of Justice And Bank…
The United States government has piled more charges on the earlier $20 million bank fraud case against Allen Onyema, the CEO…
Dangote to begin crude oil production before the end of 2024 — Report
Dangote Group, the owner of West Africa’s largest refinery, is set to begin crude oil production at its two Nigerian oil assets in the fourth quarter of…
SPDC, NNPC, others seal gas supply deal for $3.5bn Brass Petrochemical project
Joint Venture partners including SPDC, NNPC Limited, TotalEnergies and Eni have signed a Gas Sales and Purchase Agreement (GSPA) for the $3.5 billion Brass Fertilizer and Petrochemical project in Bayelsa State. A…
Naira-for-crude: LCCI urges govt to peg exchange at $/N1,000
The Lagos Chamber of Commerce and Industry urges the Federal Government to provide crude oil to local refiners at a $/N1,000 exchange rate, to tackle the rising petrol prices. In a statement, the LCCI President,…
BREAKING: Court orders CBN to Pay Kasmal International Services N579 billion with 10% interest over…
The Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to pay Kasmal International Services N579,130,698,440 with 10% interest per annum on the judgment sum for the period from January 1, 2015,…
New bill mandates tax ID for opening bank accounts
A new bill has been proposed in Nigeria that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a Tax Identification Number as a precondition for opening a new…
Court denies Binance executive Gambaryan bail
Justice Emeka Nwite of the Federal High Court in Abuja on Friday refused the fresh bail application of the detained Binance Holdings Executive, Tigran Gambaryan. Gambaryan’s lawyer, Mark Mordi (SAN), previously argued…