Business

A United States Mayor, Mr Mike Arnold, has urged the Federal Government to discountenance the allegation by Binance, a Cryptocurrency platform, that an unnamed Nigerian official demanded a $150 million bribe to frustrate the…

The Northern Elders Forum (NEF), a prominent socio-cultural organization representing the interests of the Northern region of Nigeria, has strongly condemned the Central Bank of Nigeria’s recent decision to impose a…

Airtel Africa, Nigeria’s second largest telecoms company has reported significant financial setbacks due to currency devaluations in several of its key markets, notably Nigeria and Malawi, resulting in a staggering $1.7…

With the addition of the Cybersecurity Levy, it will cost N80.88 to transfer N10,000 and N54 to receive it as per the Central Bank of Nigeria (CBN) policies, reducing the real value exchanged to N9,865. The fees are…

The Speaker of the House of Representatives, Abbas Tajudeen, yesterday stepped down a motion calling for the suspension of the cybersecurity levy, which has sparked widespread dissatisfaction. Daily Trust reports that since…

•Speculation, hoarding reemerges •Push Naira to N1,450/$ in parallel market The declining fortunes of the Naira persisted yesterday with further depreciation in the parallel and official markets due to the…

Licensed customs agents have blamed the foreign exchange crisis for the rising import of damaged vehicles into the country to about 80 per cent. The agents, who spoke with The PUNCH on Tuesday, added that it was also…

The shareholders of Zenith Bank Plc have approved the record N125bn dividend proposed by the group’s board of directors. The approval was given at the 33rd Annual General Meeting of Zenith held at the Civic Centre,…

The Corporate Affairs Commission has inaugurated a centre for bulk registration of Point of Sale operators in its database. The CAC Registrar-General, Hussaini Magaji, said this while inaugurating the centre stationed…

A Federal High Court sitting in Lagos State has given leave to creditors to commence bankruptcy proceedings against a prominent billionaire businesswoman Chioma Ude in relation to an alleged debt of ₦1,700,000,000:00 (One…

Foreign suppliers are no longer rejecting letters of credit from Nigerian businesses, in a boost for manufacturers who had struggled to import critical inputs and ran the risk of shutting down. The improved dollar…

The Coalition of Northern Groups (CNG) has rejected the newly introduced 0.5 per cent cybersecurity levy to be charged on all bank transactions. The Central Bank of Nigeria (CBN) had on Monday, issued a circular to all…

Some Point of Sale (PoS) agents in the FCT, have frowned at the new directive of the Corporate Affairs Commission (CAC) for them to register with the commission. The News Agency of Nigeria reports that CAC had on Monday…

The presidential committee on fiscal policy and tax reforms says there is a need to increase the value-added tax (VAT) rate. Taiwo Oyedele, chairman of the committee, spoke on Monday while disclosing the VAT…

Shell Nigeria has said it exclusively paid a total of $1.09billion in corporate taxes and royalties to the Nigerian government in 2023, through the operations of the Shell Petroleum Development Company of Nigeria Limited…

The Central Bank of Nigeria has ordered banks operating in the country to start charging a cybersecurity levy on transactions. A circular from the apex…

* Shippers’ Council to expedite clearance of trapped export containers* Shipping lines to evacuate 2,752 containers in five days The Nigerian Shippers’ Council (NSC) has vowed to take urgent actions to streamline…

There are indications that Microsoft African Development Centre (ADC) may shut down its West Africa operation, located in Lagos, Nigeria. Industry sources in the know revealed this to The Guardian on Tuesday, though…

The acting Group Chief Executive Officer of Access Holdings, Bolaji Agbede, Managing Director of Access Bank, Roosevelt Ogbonna and six other directors of the bank have been vested with about 23,883,790 units of…

The Federal Government on Tuesday vowed to pursue the criminal case against the crypto platform, Binance, and its officials, to a logical end. Speaking against the backdrop of a bribery allegation made by the Binance…

The Nigeria Labour Congress (NLC) has rejected the recent directive by the Central Bank of Nigeria (CBN) of 0.5 (0.005) per cent Cybersecurity Levy on electronic…

Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some h Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC…

The Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024. The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona…

Heineken Lokpobiri, minister of state for petroleum resources (oil), says the prospective winners of the 2024 marginal bid round must put the fields to immediate use. According to NAN, Lokpobiri spoke during an interview…