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Business
Banks’customers pay N45.9b as account maintenance fees in H1’22
Customers of leading commercial banks in Nigeria paid N45.9 billion as account maintenance fees in the first half of the year (H1’22). This represents a 26 per cent year-on-year (YoY) rise when…
Nigeria’s cinema records N378m revenue in August
The Cinema Exhibitors Association of Nigeria on Tuesday said it generated N378 million from tickets sold across cinemas in the country in August. CEAN’s National President, Mr Ope Ajayi,…
FG begins tax recovery from 2,000 mining firms
The Federal Government has moved into the solid minerals sector to recover unpaid taxes and royalties from over 2,000 companies operating in the industry. The exercise is being championed by two…
Companies pay N1.25tn tax amid forex, energy crises
Nigerian firms paid N1.25tn tax to the Federal Government in the first six months of 2022 despite facing acute foreign exchange and energy challenges. Data released by the National Bureau of…
Cashew processors to enjoy 100% capital allowances, says FG
The federal government says companies involved in cashew production and processing will enjoy 100 percent capital allowances. Capital allowance is an amount of money spent on business assets that…
Ecobank appoints Jeremy Awori as Group CEO as Ade Ayeyemi retires
Ecobank Transnational Incorporated (ETI) has appointed Jeremy Awori as group chief executive officer (GCEO) designate of its subsidiary, Ecobank Group. In a corporate filing on Monday,…
Illegal Haulage: Dangote Management Arrests, Hands Over Errant Drivers To Authorities
In a renewed effort to rid the Dangote Group of unscrupulous drivers who engaged in…
Domino’s Pizza Investment In Nigeria Hits N26bn
Domino’s Pizza said, the company’s investment size in Nigeria over the last ten years has climbed to over N26 billion worth of financial asset value. Domino Pizza is the leading pizza…
Kim Kardashian Launches Private-Equity Firm
American television and social media personality, Kim Kardashian is adding a strategic investor to her résumé — and she’s on the hunt for hot new start-up businesses to fund. The TV personality,…
Nigeria starts slowly to close huge gap between its FX rates
Nigeria may have begun taking the first tentative steps to close the…
Airlines selling tickets in foreign currencies enemies of Nigeria – ACF
The Arewa Consultative Forum (ACF) says any airline transacting business in Nigeria in foreign currency is an enemy of the country. Audu Ogbe, chairman of the forum, said this in a statement on Friday…
Steve Jobs’ daughter says the new iPhone 14 is the same as the iPhone 13
If there's anyone Apple…
Court rules Elon Musk can amend Twitter claims
The Chancery Court has ruled that Tesla CEO Elon Musk can include new evidence from…
DEAL: NowNow, Nigerian fintech startup, raises $13 million in seed funding
Nigerian fintech startup, NowNow Digital Systems has raised $13M in its seed round to improve financial inclusion across Africa by providing financial services to the unbanked and underbanked in…
CBN moves against defaulting Anchor Borrowers
The Central Bank of Nigeria (CBN) has moved against beneficiaries of its Anchor Borrowers Programme who have failed to pay back their loans. The NIRSAL Microfinance Bank Limited (NMFB), has…
MTN Nigeria floats N23bn commercial paper to improve working capital
MTN Nigeria Communications Plc says it is in the process of issuing up to N23 billion series three commercial paper notes. The telco announced this on Tuesday in a corporate filing on the…
Customers pay N92.2bn for N4.61tn PoS transactions
BANK customers may have spent N92.2bn to use Point of Sale terminals in the first seven months of 2022. According to data from the Nigeria Inter-Bank Settlement System, PoS transactions in the first…