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Business
Rice: Thai Merchants Slam $300m Rates On Nigerian Importers
Following scarcity of containers, a total of N290 billion ($579.75 million) will be paid to shipping lines as freight rates by rice importers before the end of the year. The…
APPLY: How to obtain UK short-term visa for poultry workers, truck drivers
The United Kingdom (UK) has opened applications for the temporary visa scheme for poultry workers and heavy goods vehicle (HGV) drivers. Last month, the UK government had said…
FG will save 40% of forex earnings with Dangote Refinery – Emefiele
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Nigeria will save 40 percent of its foreign exchange (FX) earnings when the Dangote Refinery and Petrochemical Plant…
Bitcoin hits $60,000, nears record high with growing ETF hopes
Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded…
Naira hits all-time low at official market, trades at N422/$1
The Nigerian naira has dropped by 2 percent to N422 per dollar, hitting an all-time low at the Nigerian autonomous foreign exchange (NAFEX) rate — the default FX reference for official…
Coys To Sue NPA Over Planned Award Of Pilotages To INTELS
The four companies shortlisted by the federal government to maintain boat operations in its four pilotages said they have taken legal action against the Nigeria Port Authority (NPA) for…
Flutterwave In Talks To Triple Valuation To $3 Billion
Flutterwave Inc., a Nigerian payments firm, is seeking fresh funding at a valuation of $3 billion or more, a figure that would roughly triple its last valuation, according to people with…
Apapa: Container transport cost down 60% on call-up system – TTP
The cost of moving containers from Apapa Port to warehouses in Lagos has drastically reduced by over 60 percent depending on the location of the importers’ warehouse, Trucks Transit…
Nigeria retained spot as third most attractive investment destination in Africa – Report
Nigeria has retained its spot as the third most attractive country in Africa for foreign investment in 2021. This is according to the Absa Africa Financial Markets Index…
Banks get deadline on dead customers’ BVN
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to report Bank Verification Number (BVN) of a dead customers to Nigeria Interbank…
REVEALED: In June 2021, FG quietly made new tax rules that could kill your business in six months
In 2016, three university students discussed the idea of a fintech. They built together and ran pilots in school, getting 500 students to use the product they were bringing to…
CBN seeks to bar BVN violators from banking services
The Central Bank of Nigeria (CBN) has issued a revised regulatory framework for bank verification number (BVN) operations and watchlist for the Nigerian banking industry.…
Despite Bid Disqualification: FG Moves To Award INTELS Multibillion Naira Boat Service Contract
The federal government is set to award a service boat monitoring agent contract for another 25 years to the Integrated Logistics Services Limited (INTELS) despite…
Bank CEOs Must Declare Their Assets, EFCC Insists
Abdulrasheed Bawa, the executive chairman of the Economic and Financial Crimes Commission, EFCC has insisted that chief executives of commercial banks must declare that assets, despite…
Despite Challenges, Nigeria’s Banking System Safe, Sound, NDIC Assures
The National Deposit Insurance Corporation (NDIC) has declared that despite the devastating effects of the COVID-19 pandemic and other challenges, Nigeria’s banking system remains safe…
Naira stable, trades N570/$1 at parallel market weeks after CBN/abokiFX row
Nigerian naira on Monday opened the week’s trading at N570 per dollar at the market – as vice president Yemi Osinbajo called for the devaluation of the currency. Street traders across…
Crude Oil Benchmark “Brent” Rise To $82.39 Per Barrel
Crude oil prices settled higher on the back of tightened supply balances and a weak United States employment report that may present headwinds to an increasingly…
3 Marketing Lessons We Can Learn From Netflix’s ‘Squid Game’
Whether you like to spend your weekends binge-watching TV shows on a streaming service or not, you've probably heard of Netflix's Squid Game. It is one of the most viral topics of 2021,…
SEC approves MTN Nigeria’s N89.99bn series II bond
The Securities and Exchange Commission (SEC) has granted MTN Nigeria Communications approval to launch its series II 10-year Fixed Rate Bond (Series II Bond), MTN’s Company Secretary,…
NIPOST increases domestic postage rate by 400%
The Nigerian Postal Service (NIPOST) says it has increased its domestic postage rate from N50 to N250 for effective service delivery in the country. Mr Friday Aba, the Zonal…
NNPC Limited has capitalisation of N200 billion, says CAC registrar
Garba Abubakar, registrar/chief executive officer of the Corporate Affairs Commission (CAC), says the newly incorporated Nigerian National Petroleum Company (NNPC) Limited has…
DANGOTE CEMENT, MTN PAY HIGHEST INCOME TAX TO FG IN 2020
…Cement company largest employer of labour Dangote Cement Plc has emerged as the highest corporate income taxpayer and biggest employer of labour in the country for the year 2020.…
Banks start integrating e-Naira app
Banks have started to onboard the e-Naira feature on their applications. In its latest update, the Guaranty Trust World app has integrated a e-Naira feature. However, when opened,…
Google earmarks $1b for digital transformation of Africa
Technology giant, Google, has reiterated its commitment to digital economy and transformation of Africa. Google made the announcement during the maiden edition of Google for Africa…