Business

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Friday alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India. ABCON President,…

The Bank of Industry (BoI) has begun to disburse loans of N15,000 to Tradermoni beneficiaries who have repaid their first N10,000 loan. In a statement released on Thursday, the bank said it has recorded high repayment of loans…

The Federal Inland Revenue Service (FIRS) says it generated over N23 billion in unpaid taxes from the recently suspended restriction on the corporate bank accounts of tax defaulters. Babatunde Fowler, FIRS chairman, was speaking…

Some members of the Global Financial Action Task Force (FATF) have condemned the European Union’s decision to blacklist Nigeria and 22 other countries in an expanded list of countries released last week. The EU Commission said…

The Debt Management Office (DMO) says the Federal Government’s February bonds received over N234 billion from investors for the N150 billion that was offered. A statement obtained from the DMO website on Wednesday in Abuja said…

Mr Babatunde Fowler Executive Chairman of Federal Inland Revenue Service (FIRS) Nigeria generated N1.1 trillion as Value Added Tax (VAT) in 2018, representing about 14 percent increase year-on -year (YoY) when compared to N972.35…

The Central Bank of Nigeria (CBN), on Wednesday, revealed that the total amount of non-performing loans of Nigerian banks declined to N1.79 trillion in 2018. Figures obtained from CBN revealed that N13.56 trillion was…

As Nigeria continues to clamp down on tax defaulters, it has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government. According to Reuters report yesterday, a…

The Presidency on Thursday released ten points on the growing Nigerian economy. A statement by the Special Adviser on Media and publicity, Femi Adesina, said that there are lots to cheer in the Fourth Quarter 2018 Gross Domestic…

President Muhammadu Buhari says Nigeria is willing to cooperate with efforts by the Organisation of Petroleum Exporting Countries (OPEC) to reduce oil output in order to attract higher prices in the global market. According to a…

Executive secretary of the Nigerian Investment Promotion Commission, NIPC,, Yewande Sadiku The Nigerian Investment Promotion Commission (NIPC) granted approval for Pioneer Status Incentive (PSI) to nine companies with an investment of…

The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its…

Zenith Bank Plc has reported a growth of 16. 2 per cent in its profit before tax (PBT) as well as 11.3 per cent growth in profit after tax (PAT) for the year ended December 31, 2018. According to the audited results made…

The Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of the market. Figures released by the Bank on Tuesday,…

The Federal Government has flagged-off its roads for tax-refund initiative with Dangote Construction handling a 16-kilometre Ofeme Community road network in Ohuhu in Umuahia North local Government, Abia State. The community road…

The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed. The NBS said this in FAAC January, 2019…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members nationwide to reduce petroleum pump price from N145 per litre to N140. Chinedu Okworonkwo, national president of the association, made…

Analysts at Coronation Research have a GDP growth forecast of 2.25% y/y for the twelve months ending December 2019. The analysts made this known in their report issued following the release of  Q4 2018 GDP numbers by the National…

The concessionaire of the Warri Port Terminal B, Ocean and Cargo Terminal Services Limited, has taken possession of the terminal after the formal handing over by both the Nigerian Ports Authority (NPA) and Bureau of Public…

Kasapreko Limited, a Ghanaian company, says it sold 13.9 million bottles of Alomo Bitters, a herbal alcoholic drink, in Nigeria in 2018. John Adesoye, the Nigerian sales representative, told NAN on Friday in Lagos that 580,000…

Amazon.com said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian Automotive, in the e-commerce giant’s biggest bet on technologies with potential to reshape the automotive sector. …

Mr Babatunde Fowler Executive Chairman of Federal Inland Revenue Service (FIRS) The Federal Inland Revenue Service (FIRS) has written to banks, directing them to lift the lien on tax defaulters’ bank accounts for 30 days. The…

The National Bureau of Statistics on Friday released the Consumer Price Index which measures inflation. The index dropped to 11.37 per cent in January 2019. The bureau in the report said the 11.37 per cent inflation rate for…

The National Bureau of Statistics (NBS) said the total value of capital importation into Nigeria stood at 16.81 billion dollars in 2018 compared to 12.22 billion dollars capital imported in 2017. The bureau said the figures…