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Business
How N300b VAS market crashed to N79b
The Value Added Service VAS segment of the Information and Communications Technology, the ICT industry is one of those that built the sector’s confidence to take over from oil as the mainstay of the economy.The…
Seme Border closure: West African CFA Franc crashes
The West African currency, CFA Franc, has crashed against the Naira to a new record low at the black market trading at 10,000 CFA early Wednesday to N5,850 due to the closure of Nigeria’s land borders.Our…
How So Fresh founder dumped oil money to sell fruits and salads
How “crazy” are you? Crazy enough to quit a job in an oil and gas company to sell fruits and salads? In 2017 when singer, Mr Eazi, disclosed that he resigned from his oil and…
Wedding misery for man named Thomas Cook as travel firm collapses
British man named Thomas Cook said Monday he feared his dream wedding in Greece was ruined after the collapse of the holiday firm with the same name. Cook, 29, is on the island of…
Nigeria breaks negative foreign portfolio flows
For the first time in 12 months, Nigeria has recorded positive foreign investment flow as foreign portfolio investors (FPIs) appeared to be showing renewed interests…
178 years-old Thomas Cook collapses, strands 600,000
Thomas Cook, the world’s oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history.Chief…
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…