Business

About nine months into the Federal Government’s suspension of mandatory five per cent Value Added Tax (VAT) in air transport, airlines are yet to see the implementation. Airlines operators Monday, said…

The Nigerian Inter-Bank Settlement Systems says it has upgraded its systems to accommodate an anticipated 100% rise in point-of-sale transactions. Addressing journalists on Tuesday at the agency’s headquarters,…

Banks with more women on their boards and in top managements are generally better managed, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said. He spoke at the CBN celebration of the…

The Federal Inland Revenue Service (FIRS), on Tuesday, urged Nigerians to brace for an increase in Value Added Tax (VAT) by between 35 and 50 per cent in 2019. This will raise the VAT from the current…

The federal government has made known its intention to upwardly review the Value Added Tax (VAT) as a means of funding the national minimum wage. The Budget and National Planning Minister, Senator Udo…

The Central Bank of Nigeria (CBN) has begun partnership initiatives with 11 palm oil producing  states with a  view to reviving the sector.The apex bank said this move was in line with federal government’s resolve to return…

The Nigerian National Petroleum Corporation has recorded a trading surplus of N12.13bn, the monthly financial and operations report of the firm for December 2018, which was released on Sunday in Abuja, has stated.According to…

Barring any last minute change, the evacuation of cargoes by rail from Apapa seaport in Lagos to the Kaduna Inland Container Dryport will commence in April, 16 months after it was commissioned by President…

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the merger of Access Bank Plc and Diamond Bank Plc, the last major regulatory hurdle for the consummation of…

The dollar slipped against its rivals on Friday and was set for its biggest weekly drop in more than three months before a U.S. Central Bank meeting next week. Policymakers will at the meeting shed more light on…

Online shopping in Nigeria and other African countries could account for up to $75 billion in retail sales by 2025, a report by the McKinsey Global Institute has projected. The report, which was got by …

The Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has hinted on the corporation’s plan to disengage Asset Management Partners (AMPs) that are not effective in…

The Federal Government has said that the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Programme (ABP) for 2019 is targeting 100,000 cotton farmers across the country. Hajiya A’isha Abubakar, the…

Lukman Otunuga, a research analyst at Forex Time, award-winning international forex broker, says the decision to change or retain or change the governor of the Central Bank of Nigeria will impact foreign…

The bearish run on the Nigerian Stock Exchange (NSE) continued on Tuesday as all share index (ASI) plunged by 1.02% to close at 31,313.36 points. Trading results at the close of market showed that poor…

Kogi West Senator, Dino Melaye, has picked holes in the 2019 budget of the federal government saying the dollar may soon trade at N500 if the right measures are not emplaced. Mr Melaye while contributing…

South African business confidence fell to the lowest level in almost two years in the first quarter, with more than two thirds of respondents dissatisfied with current conditions. A gauge measuring sentiment…

The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos, exchanging at N358 to the dollar. The News Agency of Nigeria reported that the naira had exchanged at N358.2…

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company.According to a letter from State…

About N11.59 billion was remitted as independent revenue into the Consolidated Revenue Fund (CRF) in 2017, a report by the Fiscal Responsibility Commission (FRC) said.The 2017 Annual Reports and Audited Accounts of the…

The Central Bank of Nigeria (CBN) yesterday disclosed that the country’s Balance of Payment improved by a surplus of $2.80 million in the fourth quarter 2018, from $4.54 million recorded in the third quarter of same year.The CBN…

South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said. Deputy governor Kuben Naidoo said on Wednesday in…

The Economic Council of West African States (ECOWAS) says the regional bloc will adopt a single currency starting with selected states in 2020. The revelation was made on Monday at an ECOWAS seminar…

The National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to invest a minimum of 60 per cent of their funds on projects within Nigeria. The revised regulation on investment…