Business

ORGANISED Private Sector, OPS, yesterday,  cautioned against plan by the Federal Government to increase Value Added Tax, VAT, warning that it would hurt manufacturers, businesses and consumers alike.OPS in a statement by…

Udoma Udo Udoma, the minister of budget and national planning, says the federal government will sell some of its stakes in joint ventures with Shell and Chevron to improve its finances. At present, the…

Ahmed Kuru, managing director of the Assets Management Corporation of Nigeria (AMCON), says the failed bank act needs to be re-introduced to check the resurgence of toxic loans in the banking system. In…

The Federal Inland Revenue Service (FIRS), has dismissed media reports quoting its Chairman, Mr. Tunde Fowler, as suggesting an increase in the rate of of Value Added Tax (VAT) from five per cent to 50 per…

The Federal High Court (FHC) has sanctioned the approved scheme of merger between Access Bank Plc and Diamond Bank Plc, the final seal that effectively brings the merger of the two commercial banks into…

Reports show that women make up 49% of Nigeria’s adult population. However, only about 42% of them have access to formal financial services. Moreover, 42.7% of Nigerian women are business owners out of…

Industrialists and experts have opposed the idea of increase in the rate of Value Added Tax (VAT) in Nigeria. The Federal Inland Revenue Service (FIRS) yesterday said Nigerians should brace up for an…

A tomato-paste factory owned by Africa’s richest man, Aliko Dangote, resumed production in Nigeria’s northern state of Kano after staying idle for more than two years over a supply disruption partly caused…

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…