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Dangote Cement to pay over N97 bn in corporate tax for 2020
Africa’s largest cement producer, Dangote Cement Plc has remained a major contributor to the economy with a tax charge of N97 billion for the financial year ended 31st December 2020, even as it proposed a…
Here’s why investment-interest in Eko Atlantic is high despite economic slowdown, land price
At a time when many developments are struggling to get off ground as a result of Covid-19 impact and general slowdown in economy, investment interest in Eko Atlantic City in Lagos remains high.…
Lagosians bought more cars in 2020 despite COVID
More new cars were registered in Lagos last year, 2020, despite COVID-19 and the economic challenges it brought along. It would appear shocking, considering decline in incomes and the need for people to shore up…
Saudi Aramco’s $75bn dividend payment shows what Nigeria is missing
Saudi Arabia’s majority-owned state-owned firm, Saudi Aramco, is paying shareholders $75 billion in dividend, an amount twice the size of Nigeria’s 2021 budget, indicating how a well-run oil company can…
FULL LIST: Money transfer operators authorised by CBN to facilitate remittances
The Central Bank of Nigeria (CBN) has released a list of approved international money transfer operators (IMTOs). IMTOs accept cash for the purpose of transmitting to persons resident in Nigeria or another country. They…
Lagos Free Zone: Tolaram Group To Attract Additional $5billion Investment To Lagos State In 4 Years
…Sanwo-Olu Reaffirms Commitment to Infrastructural Development in the Axis In line with its vision to be the preferred industrial hub and investment destination in West Africa with world-class…
Dangote Cement announces N273 billion dividend for shareholders
Nigeria’s biggest public company Dangote Cement Plc said it would pay shareholders N16 for every share held in the company for the 2020 financial year, translating to a total dividend payout of N272.648 billion, a note…
Nigerian government eyes N100 billion electricity tariffs collection
The federal government said yesterday that with the renewed financial discipline within the nation’s power sector, following the recent intervention by the Central Bank of Nigeria (CBN), it expects collections of electricity…
Aiteo alleges plot of smear campaign
Aiteo Group has raised the alarm of an alleged plot by Shell to launch media campaign to malign the reputation of the company and its Executive Vice Chairman, Mr. Benedict Peters. Group Head, Media Operations, Aiteo Group,…
CAC to destroy unclaimed documents from April 30
The Corporate Affairs Commission (CAC) says it will destroy certificates and documents unclaimed by their owners by the end of April. The commission gave the warning in a notice titled “unclaimed certificates/documents”. In…
FG mulls forbearance for banks to restructure oil firms’ debts
The federal government says it is considering a regulatory forbearance for banks to restructure loans granted to oil and gas firms currently facing debt servicing challenges due to the COVID-19 pandemic. Regulatory forbearance…
CBN sells $5.6bn FX to dealers — 28.7% higher than Q3 intervention
The Central Bank of Nigeria (CBN) says it intervened in the foreign exchange (FX) market with sales valued at $5.62 billion in the fourth quarter (Q4) of 2020. This is an increase of 28.7 per cent from $4.37 billion…
GTBank Releases 2020 Full Year Audited Results
…….. Reports PBT of ₦238.1 Billion Guaranty Trust Bank plc has released its Audited Financial Results for the year ended December 31, 2020 to…
Kanye West not so rich – Forbes issues downgrade
The reported wealth of Kanye West has come under scrutiny after reports he was the wealthiest African American. Forbes has now issued a downgrade. Earlier report quoting…
Morgan Stanley becomes first major U.S Bank offering clients Bitcoin
America’s elite bank, Morgan Stanley has become the first major bank offering its wealthy customers access to bitcoin funds. In a report credited to CNBC, Morgan Stanley’s wealth management with about $4…
Forbes names Kanye West wealthiest African-American
Forbes has declared American rapper, entrepreneur, Kanye West, the wealthiest African-American with a net worth of $6.6 billion. Led by his popular Yeezy brand, which has…
Gokada promotes Nikhil Goel as new CEO
Gokada, the Nigeria-based last mile delivery, logistics and transportation start-up has formally unveiled Nikhil Goel as its new CEO, as it continues to evolve from a…
Italian court acquits Eni, Shell of corruption in OPL 245 deal
An Italian court has acquitted Shell and Eni of corruption charges in the $1.1 billion OPL 245 deal in Nigeria. Marco Tremolada, the judge, delivered the decision on…
EXPLAINER: What the newly-revised USSD service charge means for bank customers in Nigeria
The Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) announced on Tuesday, March 16, 2021 that bank customers will now pay a flat fee of N6.98 for every financial transaction completed…
Zenith Bank shareholders excited as Bank pays N94.19b dividend
Following the recent release of Zenith Bank’s audited financial results for the 2020 financial year, shareholders of the bank on Tuesday at the 30th Annual General Meeting of…
EU reports Nigeria to WTO
The European Union has reported Nigeria to the World Trade Organisation (WTO). The complaint was about Nigeria’s policy on dairy. Director General of the WTO Dr. Ngozi…
NQR code payment system launches in Nigeria
Nigeria Inter-Bank Settlement System Plc (NIBSS) today announced the launch of the NQR payment solution; an innovative payment platform implemented on behalf of all financial service…
N42b USSD debt: CBN, NCC, others parley
The Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC), telecommunication firms as well as banks are scheduled to meet in Abuja to resolve the N42billion…
Investment bank projects oil at $100 per barrel
Crude oil could hit $100 and top it, and this could happen before this year’s end, an American multinational independent investment bank and financial…