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FX market faces fresh test as naira hits all-time high at N543/$
• Hoarding intensifies while BDC operators run out of supply • Banks may resort to rent-seeking • No customer with genuine need has been turned back, CBN insists • ‘Proposed e-naira…
We Spend N100m Daily To Return Empty Containers — Importers
Members of the Association of Maritime Truck Owners (AMATO) have accused hooligans of fleecing importers of at least N100 million daily as they return empty containers to…
Reducing Customs Procedures Can Lift Nigeria, Others By $250 Billion – Osinbajo
Vice President Yemi Osinbajo has said that despite the monumental challenges posed by climate change, especially energy transition and related issues, the coming…
NCC has approved renewal of our operating licences for another 10 years, MTN
MTN Nigeria says the Nigerian Communications Commission (NCC) has approved its operating spectrum and licence for another ten years. The renewal would run from September 2021 to…
FCMB Emerge as the Best SME Bank in Africa and Nigeria
Nigeria's leading lender, First City Monument Bank (FCMB), has emerged as Best SME Bank in Africa and Best SME Bank in Nigeria at the Asian Banker Middle East and Africa Regional…
FIRS Affirms Position On VAT Collection, Urges Tax Payers Not To Panic
The Federal Inland Revenue Service (FIRS) has urged taxpayers not to panic over the recent court ruling by the Federal High Court sitting in Port Harcourt which dismissed its motion for stay…
1 Month After, BDC Operators Groan Under CBN’s Forex Policy
One month after the Central Bank of Nigeria (CBN) announced discontinuation of foreign exchange allocation to Bureau De Change firms, operators and traders in the parallel…
57,000 Personnel to Benefit from Work at Refinery Site, Says Dangote
The President/Chief Executive, Dangote Industries Limited, Aliko Dangote has disclosed plans to increase the human capacity at the Dangote Refinery Project site from 40,000 to…
Managing Distributed Teams Effectively With Remote Agile – Ayodele Doreen
The rise of remote work has significantly impacted how Agile teams operate. Traditional Agile methodologies, which emphasize face-to-face collaboration and communication, must adapt to the challenges and opportunities of a distributed work…
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…