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Why Nigeria can not receive crude oil payments in Naira – DMO
The Debt Management Office (DMO) has explained why receiving crude oil payments in Naira rather than in dollars is not a good idea for Nigeria. Patience Oniha, the agency’s director-general, revealed this during a…
BOI Disburses N1.4trn To Businesses – Buhari
President Muhammadu Buhari has said the Bank of Industry (BOI) has distributed over N1.4trn to micro, SMEs and large enterprises in the country thereby creating over nine million jobs for Nigerians. The president,…
Dangote, Other Nigerians Top List Of Only 15 Black Billionaires In The World
Nigeria’s Aliko Dangote is Africa’s richest man; he has maintained that title for eleven consecutive…
Germany mulls nationalising Russian oil firms Gazprom, Rosneft
The German economy ministry is considering expropriation of Gazprom and Rosneft units in the country amid concerns about security of energy supply. According to business daily Handelsblatt, the discussions between…
Telecom operators mull tariff hike
Telecoms operators have threatened upward review of their tariff over rising cost of doing business and safety of telecommunications infrastructure in the country. The Association of Licensed Telecommunication…
Global Money Week: Fidelity Bank to Empowers 4,000 Students In 36 Secondary Schools
Fidelity Bank Plc has tutored 4,000 students in 36 schools across Nigeria on the value of managing financial resources…
Tribunal Stops MultiChoice From Increasing DStv, GOTV Subscription Rates
A Competition and Consumer Protection (CCP) Tribunal sitting in Abuja has restrained Multi-Choice Nigeria Limited from increasing its tariffs and cost of products and services scheduled to begin on April 1. The…
Pension funds investments in FG bonds up 6.3% to N25.6trn
Pension Funds Administrators, PFAs, investments into federal government securities increased by 6.3 per cent to N25.6 trillion in the fourth quarter 2021, Q4’21, from N24.1trillion in the corresponding period of…
6 docked for stealing cable from Dangote Refinery
Six men were on Wednesday brought before a Yaba Chief Magistrates’ Court, Lagos State, for allegedly stealing 50 armoured cables from Dangote Refinery. The defendants are Abiola John, 25; Daniel Haruna, 28; Barisua…
Tax returns: LIRS threatens to prosecute defaulters as deadline nears
The Lagos State Internal Revenue Service (LIRS) says there is no plan to extend the deadline for filing individual annual tax returns beyond its statutory date of March 31, 2022. Speaking at LIRS headquarters in…
Supporters Raise N67m For Emefiele’s APC Presidential Form
Supporters of the governor of the Central Bank of Nigeria, Godwin Emefiele, on Wednesday, disclosed that they have raised N67 million for the apex bank boss. The fund, according to them, will be for the purchase…
Russia warns EU it may demand roubles for grains, oil, coal, fertiliser
Russia’s top lawmaker, Vyacheslav Volodin warned the European Union on Wednesday that his country may expand the basket of exports priced in roubles. It already told EU countries that want its natural gas to pay in…
Marketers disagree with depot owners over petrol price hike
THE Independent Petroleum Marketers Association of Nigeria has criticised private depot owners over the recent increase in the pump price of Premium Motor Spirit, also known as petrol, in some states. According…
Vehicle imports: Clearing agents plan fresh strike, demand duty review
Clearing agents operating in the nation’s maritime sector have threatened to embark on a fresh strike if the Nigeria Customs Service fails to review its price charts for imported vehicles. According to the…
We must improve tax revenue without increasing taxes – Buhari tells FIRS
President Muhammadu Buhari says his administration is committed to improving tax revenue in the country. The president spoke on Tuesday at the second National Tax Dialogue Week in Abuja. Femi Adesina, presidential…
Fidelity Bank to help Entrepreneurs Explore US Market
Leading financial institution, Fidelity Bank Plc, is set to host a workshop for businesses looking to…
Bakers ‘shutting down operations’ over hike in diesel price, FX scarcity
Bakers under the aegis of the Premium Breadmakers Association of Nigeria (PBAN) say the hike in diesel price and exchange…
Heineken exits Russia in wake of Ukraine war
Dutch brewer Heineken on Monday joined the foreign business exodus from Russia over the war in Ukraine, saying it was “deeply saddened” to see the conflict intensify. The beer company, which employs 1,800 people…
Production shut-ins down 70% to 2.22mb
Nigeria’s oil production losses due to production and terminal shut-ins reduced by 70.44 percent in January, 2022, to 2.217 million barrels from 7.5 million barrels in December, 2021, a report by Nigerian National…
‘Fighting inflation is my focus’ — Emefiele speaks on rumoured 2023 presidency bid
Godwin Emefiele, governor of the Central Bank of Nigerians (CBN), says he is focused on fighting inflation and designing a…
Marketers blame oil price, forex as cooking gas price rises again
Marketers of Liquefied Petroleum Gas, popularly called cooking gas, on Monday said the cost of LPG had continued to increase on a weekly basis due to the fall of the naira against the United States dollar and the…
BREAKING: Access Bank names Ogbonna as new MD, Wigwe remains Access Holdings CEO
In its bid to strengthen its long-term competitiveness and growth prospects, Access Bank Plc has announced the successful…
Fidelity Bank presents N10million to Winners of GAIM 5 4th Monthly Draw
Rewards 150 customers with N55.4m in savings loyalty scheme Ten customers of Fidelity Bank Plc have smiled home with…
CBN’s net liquidity injection rises 110% to N770bn
In pursuant of its pro economic growth monetary policy the Central Bank of Nigeria, CBN, increased its net liquidity injection into the interbank money market by 110 per cent to N770 billion in the first quarter…