By TENEBE ANTHONIA, Lagos – Capital market stakeholders have commended NGX for providing a vibrant listing platform for government and corporates to meet their business objectives. This was stated during the NGX CEO Roundtable held on Thursday. The event, themed, “Creating the Enabling Ecosystem for Accessing Capital from the...
BUSINESS
By JOY ADARA, Abuja – The Executive Chairman of the Federal Inland Revenue Service (FIRS) Muhammad Nami has called on professional bodies in the regulation of tax practice to lead conversations on matters of tax policy and tax laws in the country. Mr. Muhammad Nami made the call yesterday...
The Dangote Group says it will commence civil works for the construction of its Sugar factory in Tunga, Awe Local Government Area of Nasarawa State. A team of two men from the factory, said it would employ 1000 people from the immediate community after taking off. Mr Maryoud Elsunni,...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the Petroleum Industry Act (PIA) had introduced incentives to grow reserves. The commission also said that the aim of the Act was to increase Nigeria’s daily production toward attaining 40 billion barrels and 220TCF of oil and gas reserves. It said...
Fidelity Bank said it planned to take over the boards of Kano, Benin and Kaduna Distribution Companies (DISCOs) and to collateralise their shares. The Director-General, Bureau of Public Enterprise (BPE), Alex Okoh, and the Executive Chairman, Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba said this in a joint statement...
By OLA MUDOPE, Lagos – Nigeria’s leading airline, Air Peace, has revealed plans to extend flight operations to Guangzhou, China and Mumbai, India, with scheduled flight operations this month. The Spokesperson of Air Peace, Mr Stanley Olisa, who stated this in a statement on Tuesday in Lagos, said that...
Sen. Margery Okadigbo, Chairman, Board of Directors, Nigerian National Petroleum Company Limited (NNPC) says roadmap for new NNPC will be hinged on the Petroleum Industry Act (PIA) 2021. Okadigbo made this known on Tuesday in Abuja at the ongoing 21st Nigerian Oil and Gas (NOG) Conference and Exhibition, tagged...
The Central Bank of Nigeria (CBN) has advised banks and other financial institutions to embrace opportunities represented in open banking to drive financial inclusion in the country. Mrs Aishah Ahmad, the Deputy Governor, Financial Systems Stability Directorate, CBN, gave the advice at the Chartered Institute of Bankers of Nigeria...
Mr Adewale Tinubu, the Group Chief Executive Officer, Oando Plc, says Nigeria is losing about 20 per cent of its crude oil production to oil thieves and pipeline vandals daily. Tinubu made the disclosure while speaking at the opening ceremony of the 2022 Nigerian Oil and Gas (NOG) conference...
The Organisation of the Petroleum Exporting Countries (OPEC) has tasked the Federal Government to develop new technologies, strengthen human capacity and innovation to meet the world’s growing need for energy. OPEC said regular investment was needed in view of global oil sector requirement of cumulative investments of 11.8 trillion...
The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Limited and the FMDQ Securities Exchange. The News Agency of Nigeria (NAN) reports that the N250 billion Sovereign Sukuk was issued in December 2021. Proceeds from the Sovereign Sukuk, which was heavily oversubscribed,...
The Debt Management Office (DMO) on Monday announced the listing of two FGN savings bonds for subscription for the month of July. It stated that the first is a two-year savings bond due on June 15, 2024, at an interest rate of 8.2 per cent per annum. The second...
By MBAFAN ADE, Abuja – The filing of Companies Income Tax Returns for the 2022 Year of Assessment, due on 30th June 2022, has been extended to 31st August 2022, for companies who were unable to meet up with the deadline as at the end of June, 2022. The...
Accuses States of being ill-advised, beggarly and lazy By JOY ADARA, Abuja – The powers of the Federal Inland Revenue Service, (FIRS) to recover unremitted taxes deducted by States and Local Governments are well in order, and accords with the country’s fiscal laws. The Global Economic Policy Initiative (GEPiN),...
The FinTech Association of Nigeria says Financial Technology (FinTech) operators accounted for 63 per cent of the 1.37 billion dollars funding raised in Nigeria in 2021. President of the association, Mr Ade Bajomo said this on Saturday in Lekki, Lagos, at a dinner held at the FinTech Platinum Awards...
MTN Nigeria has appointed Onyinye Ikenna-Emeka as General Manager for its Fixed Broadband Business. Onyinye is a business leader with over 23 years of experience in the telecommunications, logistics and education sectors. Her expertise includes sales, marketing and customer management, conceptualising go-to-market models and nurturing new products into mature...
In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the launch of the FirstGem fund (FirstGem loan); a single-digit loan scheme, exclusively designed to put women at an advantage...
The African Export-Import Bank (Afreximbank) has announced that Algeria has joined the bank as its 52nd Member State. This is contained in a statement by the bank’s Media Contact, Mr Amadou Sall, in Abuja on Friday. Afreximbank member states rose from 38 in 2015 to 51 in 2021, with...
The Minister of State for Transportation, Sen. Gbemisola Saraki, says the Onitsha river port is positioned to generate over N23billion to the Federal Government in 30 years. Saraki, during the signing of the concession of the port on Thursday in Abuja, said the port had lots of economic benefits...
Sterling Bank was on Thursday named Best Participating Financial Institution for 2021 at the Agriculture Credit Guarantee Scheme Fund (ACGSF). The ACGSF, in an event in Abuja, also rewarded three Agriculture entrepreneurs who took loans and repaid under the scheme. According to the ACGSF board, the participation of Sterling...