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Business
FIRS orders deduction of stamp duty, CIT, others from source
There is no more hiding place for government contractors in the payment of Stamp Duty, Withholding Tax and Company Income Tax (CIT). “Revenue collecting…
Senate mediates in Seven-UP, Bigi feud
The Senate on Tuesday mediated in the dispute between the Rite Foods Limited, makers of Bigi soft drinks and the Seven-Up Bottling Company Plc in Abuja. The…
Coronavirus Exposes Businesses’ Dependency on China
Just as the U.S.-China trade war was starting to fade, the coronavirus crisis is exposing how heavily dependent foreign companies are on China for their production and business. As the new…
IMF urges CBN to end forex intervention, Backs Finance Act 2020
THE International Monetary Fund (IMF) on Monday lauded the Federal Government on its economic reform policies, especially on the Finance Act and the Deep Offshore Basin Act. The…
CBN, firms move to establish milk processing plants
The Central Bank of Nigeria on Monday started the process of assisting dairy companies to set up milk processing plants in the Federal Capital Territory. The move is coming barely one week…
FIRS sole collector of stamp duty – FG
The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested. Henceforth, the Federal Inland Revenue Service (FIRS) will be the sole collecting agency of stamp duty in…
Dangote Group joins Airbus, Volvo on global executive council of PMI
THE Pan-African conglomerate, Dangote Group has been inducted into the influential Global Executive Council (GEC) of the Project Management Institute,PMI the very first African business organization to become a member in history.…
BPE Insists Non-cost Reflective Tariff Hurting Electricity Sector
The Bureau of Public Enterprises (BPE) has reiterated that a cost reflective tariff structure must be developed and implemented to solve the perennial electricity…
Solid minerals: Era of criminalising illegal miners over – Minister
The Federal Government on Thursday declared that the era of criminalizing illegal miners is over as it holds consultative meetings on the formalization of artisanal miners into cooperatives, and small-scale miners into larger…
Valentine: When love turns money spinner
Globally, love rules the air today at least, that’s what Valentine Day celebration depicts. But, beyond the reign of love lies business…
NECA hails CBN for reversal of ‘crippling policy’ on milk industry
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for exempting six companies from restriction on milk and dairy products importation. The NECA’S Director-General, Mr Timothy…
Dangote acquires additional N1.45b Dangote Cement’s shares
Dangote Industries Limited (DIL), the majority core investor in Dangote Cement Plc, has acquired additional shares worth N1.45 billion in the cement company. DIL is the holding company of Alhaji Aliko Dangote, Africa’s richest…
BPE seeks subsidy for DisCos
Bureau of Public Enterprises (BPE) Director-General Mr. Alex Okoh on Wednesday called on stakeholders in the Nigerian Electricity Supply Industry (NESI) to address the non-cost…
Quality Of Local Rice Improves As Food Prices Drop Across Major Markets
The quality of locally-produced rice in Nigeria has recorded significant improvement in recent weeks, as the latest Nairametrics Household Survey …
Dangote remains Africa’s wealthiest
Forbes’ current list shows that Dangote Group President Aliko Dangote remains the undisputed king of Africa’s rich men., leading Globacom chief Mike Adenuga, BUA Group chief…
Central bank to end open-air burning of naira notes; adopts recycling
The Central Bank of Nigeria (CBN) has announced its decision to stop the burning of currency notes withdrawn from circulation. In a notice posted on…
CBN restricts forex for milk importation, exempts six companies
The Central Bank of Nigeria (CBN) has added milk and dairy products to the list of items not eligible for forex. However, the bank exempted six companies from the…
Access Bank to list N15b green bond on Luxembourg Stock Exchange
Access Bank Plc will be listing its trail-blazing N15 billion green bond on the Luxembourg Stock Exchange (LuxSE), making it the first company to take…
FCMB: Nigeria’s Best Bank for SMEs in Sustained Empowerment of Businesses
Small and Medium Scale Enterprises (SMEs) are globally recognized as engines of socio-economic transformation. In Nigeria, they are at the heart of a push for economic…
Cash reserve policy takes N855b off banks’ vaults
THE Monetary Policy Committee of the Central Bank of Nigeria (CBN’s) decision to raise Cash Reserve Requirement (CRR) rate for banks has…
Forex: CBN injects $218.41m, CNY 18m into retail secondary market
The Central Bank of Nigeria (CBN) has injected the sum of 218.41 million dollars into the retail Secondary Market Intervention Sales (SMIS). The bank’s…
Current accounts drop by 4.5 million, as PoS transactions hit N373 billion
The current accounts held by bank customers have dropped by 4.5 million as at the end of 2019. This was disclosed by Nigerian Inter-Bank Settlement System…
Coronavirus: Airbus closes China plant
Airbus has closed its aircraft production facility in Tianjin, near the Chinese capital Beijing, due to the coronavirus outbreak, the aircraft manufacturer said on Wednesday. “China domestic and worldwide travel restrictions are…
Currency in circulation increases by N240 billion in one month
The currency in circulation increased by N240 billion between November and December 2019. This was stated in the Central Bank of Nigeria’s (CBN) Money…