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Business
FCMB, SME.NG and WFW Group Urge Women to take the Lead in Driving Growth of Businesses and…
Women in Nigeria have been urged to play a more active and frontal role to stimulate the growth of businesses and overall development. In addition, they have been advised to pursue …
FIRS extends tax debt payments to August 31
The Federal Inland Revenue Service (FIRS) has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30, 2020 to…
With N381/$1 Exchange Rate Adjustment, FG, States Get More Cash
The adjustment of the official naira exchange rate from N361/$ to N381/$ by the Central Bank of Nigeria (CBN) means that the three tiers of government will have more naira to…
Official exchange rate may hit N430/$ – Report
The nation’s official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on…
Indonesia imposes 10% VAT on Amazon, Google, Netflix, Spotify
Indonesia imposed a 10 per cent Value-Added Tax (VAT) on sales by technology firms including Amazon, Netflix, Spotify and Google on Tuesday, as spending patterns shift…
Analysts predict outlook for naira as forex unification plans gain momentum
The exchange rate between the naira and dollar may move in the positive for Nigeria’s local currency, according to views of a cross section of traders and analysts interviewed…
GSK, Sanofi to agree $624 million deal with UK for COVID-19 vaccine
British and French pharmaceutical giants, GlaxoSmithKline (GSK) and Sanofi are close to reaching a $624 million (500 million pounds) deal with the United Kingdom (UK)…
Fidelity Bank appoints Chike-Obi as chair
Fidelity Bank Plc has appointed Mustafa Chike-Obi as its Chairman following the resignation of Ernest Ebi, who held the position. The bank’s board also announced that Seni Adetu, who has…
In Pursuit of Convergence, CBN Adjusts Official FX Rate Towards Market-led I&E
.........Official SMIS window moves to N380/$1 as I&E window trades at N386/$1 The Central Bank of Nigeria (CBN) yesterday took another step towards unifying the naira exchange rate by adjusting the rate at the…
COVID-19: How China produced ’70bn face masks’ in three months
On March 3, 2020, in the wake of the coronavirus pandemic, the World Health Organisation (WHO) expressed concern about how shortage of personal protective equipment (PPE), including masks,…
FIRS introduces stamp duty for rent agreements, C of O
The Federal Inland Revenue Service (FIRS) says stamp duty will now be paid on house rent and certificate of occupancy (C of O). Abdullahi Ahmad, director of FIRS communications and…
So Sad, Oil Mogul, Festus Fadeyi, Loses Company, Pan Ocean, to AMCON over N240bn Debt
Former billionaire, Festus Fadeyi has gotten to that threshold in a man’s life when brooding tragedy and its dark shadows can only be lightened by recalling great moments of the past. Yes,…
From Cleaning to Military Deals! How Tokunbo Ogundeyin is Cleaning out with Multi-Billion Dollar…
Yes, Tokunbo Ogundeyin, the head honcho of Proforce, is a dandy soul. Beneath his expensive suits and unassuming demeanour lies a posh and groovy character. But despite his inclinations for…
Marginal Fields Bid: Gbajabiamila, Senate President, President Aides, Sarki Abba, Tunde Sabiu,…
Junior oil firms flocked in their hundreds to bid for one of the 57 marginal fields put up for sale by the Abuja authorities to avoid a financial debacle as the Covid-19 crisis continues. Nearly 600…
Hate Speech: 400 brands including Coca Cola set to boycott Facebook
Advertisements for more than 400 brands, including Coca-Cola and Starbucks, are due to vanish from Facebook on Wednesday, after the failure of last-ditch talks to stop a…
Atedo resigns as Cadbury chairman
Chairman of Cadbury Nigeria Plc Peterside Atedo has resigned. He said he took the decision to “concentrate on other challenges” after ten years on the position. In a letter to Directors of…
Air Peace operates maiden flight to London
FOLLOWING its designation as Nigeria’s flag carrier, Air Peace at the weekend operated its maiden flight on the Lagos/London route. It was to demonstrate its capacity for long haul…
FACT CHECK: Are DStv’s tariffs in Nigeria the highest in Africa?
In May 2020, Multichoice, the owners of DStv and GOtv, disclosed that rates would go up in Nigeria. This immediately led to a social media outrage, with many calling it insensitive “during a pandemic”. In Multichoice’s defence,…
FCMB Pensions set to acquire 96% of AIICO Pensions
FCMB Group has notified the Nigerian Stock Exchange that it’s pensions arm, FCMB Pensions Limited has entered into an agreement to acquire 96% of Aiico Pensions Limited. This is part…
WORLD BANK, IMF Post COVID-19 Nigeria Forecasts: What FG must do — Economists
AGAINST the backdrop of the latest World Bank Nigeria Development Update (NDU) of June 25, 2020, notable economists have urged the Federal Government to move…
Parallel Market Can’t Be Used to Determine Naira Exchange Rate
Citibank, last week, organised an investor conference call titled: “COVID-19 Economic and Budgetary Update”, which featured four top government officials. During the event that lasted for an hour and 15 minutes, the…
Adebutu, Kashamu’s Firms Fight Dirty Over Betting Game Rights
The clash between betting and gambling firms owned by a Peoples Democratic Party chieftain, Senator Buruji Kashamu; and billionaire businessman, Sir Kensington Adebutu, has…
IFC Supports Nigeria’s FCMB to Finance SMEs Facing COVID-19 Related Challenges
IFC, a member of the World Bank Group, today announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises…
74% businesses stop operations due to COVID-19
Research reveals that 74.2 per cent of businesses in Nigeria stopped operating due to the Coronavirus (COVID-19) pandemic. The research was conducted by the Nigeria Employers’ Consultative…