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Business
VAT ‘War’ Between FIRS, States Leaves Businesses Confused
Taxpayers and business owners are scratching their heads over the authority to remit Value Added Tax (VAT), as the Federal Inland Service (FIRS) and state governments…
Inter Milan To Accept Crypto Payment For Ticket Purchases
Inter Milan fans will be able to pay for home game tickets on the club’s app using cryptocurrency after the Italian Serie A football team announced a new deal with Zytara Labs. By joining forces, Zytara Labs will become…
Central Bank Issues E-Naira Guidelines, Charges And Transaction Limits
The Central Bank of Nigeria (CBN) has released new guidelines on how a state-backed digital currency (e-Naira) will be regulated, designed, and issued. The Central Bank Digital Currency…
Oil Prices Crumble Over Hurricane Ida Concerns
Oil prices dropped slightly yesterday on concerns that power outages and flooding in Louisiana after Hurricane Ida cut crude demand from refineries at the same time global producers plan to raise output. U.S. West Texas…
CBN orders banks to publish names, BVN of Forex defaulters
The Central Bank of Nigeria (CBN) has directed all banks to publish names of customers who try to break the rules on Forex acquisition on their website. The CBN on Monday,…
Challenges of the proposed e-naira
Just a while ago, the Federal Government of Nigeria through the Central Bank of Nigeria announced that it would be introducing a local or call it homegrown cryptocurrency. This digital currency will be called e-naira. Many…
CBN Engages Bitt Inc As ENaira Tech Partner
The Central Bank of Nigeria (CBN), has announced the formal engagement of the global Fintech Company, Bitt Inc., as the Technical Partner for its digital currency, eNaira which…
Netflix Crosses Over 210m Subscribers With Fresh 5.5m In H1 2021
Netflix has added 5.5 million subscribers in the first half of 2021, bringing the total number of new subscribers between 2020 and first half of 2021 to 41 million. The new…
UACN Acquires Tiger Brands’ Stake In UAC Foods
UAC of Nigeria Plc has reached an agreement with Tiger Brands Limited to acquire its minority interest in UAC Foods. The deal which would be completed in September will see…
Dangote’s $2bn Petrochemical Plant to Produce 77 Grades of Polypropylene
Dangote’s $2 billion Petrochemical Plant located in Ibeju-Lekki, Lagos State, is designed to produce 77 different high-performance grades of polypropylene in the country. With a turnover of…
Diaspora Remittances Hit $34bn as Nigerian Migrant Workers Top List
The Naira4Dollar policy of the Central Bank of Nigeria (CBN) may have begun to yield dividends as remittances from Nigerians in the Diaspora now stand at an average of $34…
Mark Zuckerberg now worth $137 billion, why Facebook is set to break $400 mark
Mark Zuckerberg, the genius behind the world’s most popular social media platform, has an estimated net worth of $137 billion. He is the youngest billionaire ever to surpass…
Ronaldo set to become Premier League’s top earner after Manchester United move
Manchester United announced yesterday via a club statement that they have completed the transfer of Portuguese forward, Cristiano Ronaldo from Juventus. The…
$2bn tax remittance: MTN Nigeria complying with payment plan, says Zainab Ahmed
Zainab Ahmed, minister of finance, budget and national planning, says MTN Nigeria has a payment plan with the Federal Inland Revenue Service (FIRS) to remit $2 billion tax…
Manchester United stocks rally on Ronaldo comeback
Manchester United, one of the world’s famous football clubs and the 4th biggest club in the world with a revenue of $698 million generated in 2020, has had its stock price rally for the…
President Buhari felicitates with Sahara Group at 25
President Muhammadu Buhari has congratulated Sahara Group on the landmark celebration of its 25 years in business. The President described the Group as a modest enterprise, which began as a…
FCMB partners Mercy Corps to uplift farmers, vulnerable people in the North East
First City Monument Bank (FCMB), the banking subsidiary of FCMB Group – one of Nigeria’s most diversified financial services groups – today, announced a partnership with Mercy Corps, a…
Apple’s Tim Cook gets $750mn bonus payout
Apple chief executive Tim Cook has received a bonus of some $750 million, reflecting his performance at the US technology giant in his 10 years at the helm, a regulatory filing showed. The Thursday filing with the…
South Africa’s Massmart to dispose 14 Game stores in Nigeria, Ghana, others
Massmart is disposing of all its general merchandise Game stores in West and East Africa as the Walmart majority-owned retailer evaluates its portfolio on the continent, its CEO said on Friday. Like its peer Shoprite…
Insurers pay N5.4b on #EndSARS riot
A total of N5.4 billion claims has been paid by insurers to Nigerians who suffered losses from #EndSARS riot that occurred last October, the Director-General, Nigeria Insurers…
Barge Operators Move One Million Containers In 1 Year
President of Barge Operators Association of Nigeria (BOAN), Edeme Kelikume Monday said about one million containers were ferried by barge in just one year by members.…
Facebook to launch digital wallet this year -Official
Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday. David Marcus, head of…
Setting up filling stations in neighbouring countries won’t stop petrol smuggling – NNPC
The Nigerian National Petroleum Corporation (NNPC) says setting up filling stations in neighbouring countries will not stop petrol smuggling. Mele Kyari, group managing director of…
‘Tax evasion’: Tribunal orders Multichoice to pay N900bn to FIRS before hearing appeal
A tax appeal tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited to pay 50 percent of N1.8 trillion to the Federal Inland Revenue Service (FIRS) over…