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BVN enrolment hits 41m in six years
Six years after the introduction of the Bank Verification Number (BVN) project, the total number of BVNs so far issued by financial institutions in the country now stands at 41.01 million, findings by New Telegraph show.…
CBN sets dollar deposit, withdrawal rules for customers
The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not allowed to transfer such funds to another party.…
Reverse of DisCos shares in PHCN could cost FG 200% of initial sum –Eexperts
Despite heightening calls for a resale of Nigeria’s power distribution assets on the back of poor performance, experts say a new dilemma is being thrown up, including that the move…
CSL Stockbrokers Appointed as New Stockbroker to the Federal Government
CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc, has emerged as the new stockbroker to the Federal Government of Nigeria. The appointment of the firm, as announced by the Debt Management Office…
New British 20-pound note featuring artist Turner enters circulation
A new British banknote featuring a self-portrait by the 19th-century painter J.M.W. Turner entered circulation on Thursday.
The 20-pound note is the third to be made of durable polymer material rather than paper, following…
CBN returns over N60 billion excess bank charges to customers
The Central Bank of Nigeria (CBN) on Thursday said it has so far recovered over N60 billion from erring banks as excessive charges imposed on customers.
The…
Apple considers allowing third-party apps to be set as iOS defaults
Apple is considering letting users set third-party apps as the iPhone and iPad’s default web browsers and email clients, Bloomberg reports. The company is also reportedly working on allowing third-party music services like…
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…