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N5trn AMCON Debt: FG May Bar Debtors From Holding Public Office
Tough time awaits Nigerians and corporate bodies involved in the lingering N5 trillion debt to the Assets Management Corporation of Nigeria (AMCON). Apart from pursuing the recovering of the debt through the…
Seplat Petroleum Boss, ABC Orjiako’s Redemptive Moves
No doubt, Dr. Ambrose Bryant Chukwueloka Orjiako, Chairman ofSeplat Petroleum Development Company, is wealthy.He knows the ABC of making money. But tongues wagged over his status recently when news broke that his…
95% Of Bank Customers Not Affected By Deposit, Withdrawal Charges – CBN
The Central Bank of Nigeria (CBN) has clarified that the implementation of charges on cash deposits and withdrawals in the six states where the cashless policy is in…
Fear of Boycott Grips South African Brands
For South African brands doing business in Nigeria, the fear of losing money is the beginning of wisdom. The reaction to the recent xenophobic attacks in South Africa couldn’t have been worse for business, as they…
My Indian friend of 30 years wants to take my companies – Octogenarian
Chief Isaac Oluwole Ogini, a retired federal civil servant, whose companies are on the verge of being taken over by his Indian friend, Mr J. B. Gupta, whom…
7.5%VAT: There’s no option, Nigeria has lowest in the world – Emefiele
Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the plan to increase Value Added Tax (VAT) from five percent to 7.5 percent is in the right direction to…
Firm launches new POS machines for the unbank
Click Power Enterprise Limited in partnership with a Chinese firm, SZFP Technology Limited has launched a new Smart and Mini Point of Sales (POS) Terminal that is handy,…
We’re sorry for cashless policy inconvenience but… – CBN
The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause. CBN governor Godwin Emefiele rendered the…
Pressure on Saudi billionaires to buy Aramco shares – Reports
Saudi Arabia is mounting pressure on wealthy nationals into taking part in Aramco’s upcoming IPO, The Financial Times and Bloomberg reported, citing sources in the know. The two news platforms…
Nigerians spent over N1.2bn in cinemas between July-August
Nigerians spent over N1.2bn in cinemas between July and August, according to data obtained by the Cinema Exhibitors Association of Nigeria (CEAN). ‘Bling Lagosians’ led the…
How Nigeria spends $1.2bn to import fish annually – Emefiele
The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele says about 1.2 billion dollars worth of fish is imported into the country annually. Emefiele disclosed this in Abuja…
CBN restricts forex for importation of cassava products
The Central Bank of Nigeria has said it will no longer provide foreign exchange for the importation of cassava, starch, ethanol and all other derivatives into Nigeria.The CBN Governor, Mr Godwin Emefiele, said this…
Cashless policy: LCCI seeks more time, enlightenment
THE Lagos Chamber of Commerce and Industry (LCCI) has asked for more time for the implementation of the cashless policy. In a statement, its Director- General, Muda Yusuf said…
Customers to pay more for PoS transactions
BANK customers are to pay more for Point of Sale (PoS) transactions. This follows a Central Bank of Nigeria’s directive to banks to charge N50 Stamp Duty on individual transactions. The…
Group lauds removal of VAT on cooking gas
Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), says the removal of Value Added Tax (VAT) on cooking gas by the Federal Government will deepen…
N1.5m bank charge on N50m deposit… CBN’s cashless policy is back
The Central Bank of Nigeria (CBN) has re-introduced charges on the deposit and withdrawals of sums above N500,000 to promote a cashless economy. In a circular released on…
Andela sacks 400 employees in Nigeria, others
Andela, an Africa-focused company that builds talented software engineers, has announced the disengagement of about 400 junior engineers and workers in Nigeria, Uganda and…
CBN’s charges on cash deposit in banks begin
Bank customers making cash deposits or withdrawals will pay charges from today in line with the Central Bank of Nigeria’s new policy. The objective of the…
Osinbajo inaugurates committee to recover N5trn AMCON debts
Vice President Yemi Osinbajo on Tuesday inaugurated an inter-agency committee to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON). A statement by…
VAT: What you need to know about ‘proposed increase’ from 5% – 7.5%
After 26 years, the Federal Government has made the proposal to increase the rate of Value Added Tax (VAT) from five per cent to seven point five per cent with effect from 2020. Here is…
Tax battle: Apple challenges $14 billion court case
Technology giant, Apple has challenged a $14 billion tax charge from the European Commission. The Commission had accused the company of paying taxes at a low rate to the Irish…
Pension asset increases to N9.33 trillion – PenCom
The National Pension Commission ( PenCom) has disclosed that the worth of pension assets has increased from N7.44 trillion in January 2019 to N9.33 trillion as at the end of…
MTN Nigeria to raise N100 billion through commercial paper
Telco giant, MTN Nigeria is seeking to raise a N100 billion through Commercial Paper (CP). The Head, Frontier Research at EFG Hermes, Kato Mukurudisclosed this during…
P&ID $9.6bn: Experts, others react as Addax Petroleum continues to flare gas in OML123
THE inability of Process and Industrial Development Limited, P&ID, to execute its controversial gas pipeline project, targeted at harnessing 100 million standard cubic feet of associated gas, offshore Akwa Ibom…