The Tax Appeal Tribunal (TAT) has ordered the Nigeria Liquefied Natural Gas (NLNG) Limited to pay the Federal Inland Revenue Service (FIRS) 27.5 million dollars as full and final settlement of the revised companies income tax (CIT) for the 2016 assessment year. This was part of the judgment...
BUSINESS
The Naira on Monday depreciated at the official market, trading at N1,577.29 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N13.49. This represents 0.86 per cent loss...
MD/CEO of Jaiz Bank PLC, Dr Haruna Musa, has said the bank is looking forward to Nigeria becoming the centre of Islamic banking in Africa. Musa disclosed this at a send-off ceremony of the retired Board/ Advisory Committee of Experts (ACE) members of the bank on Sunday night,...
Nigeria’s inflation figure has reached a new high, hitting 34.19 % for June 2024, according to the latest data from the National Bureau of State Statistics (NBS). This is an increase of 0.24% points when compared to the inflation figure for May 2024 released by the NBS. “In...
Africa’s richest man Aliko Dangote has said the Nigerian National Petroleum Company (NNPC) Limited now owns a 7.2% stake in the Dangote Petroleum Refinery, and not a 20% stake as initially announced before the inauguration of the facility at the Lekki Free Trade Zone. Dangote, who made...
The President/Chief Executive, Dangote Industries Ltd., Alhaji Aliko Dangote, said that the Dangote Petroleum Refinery and the Fertiliser plant would be listed in the capital market by the first quarter of 2025. Dangote made this known on Sunday in Lagos at a media parley and guided tour of the...
The President of Capital Market Academics of Nigeria, Prof. Uche Uwaleke, has said Nigeria is positioned to reap immense benefits from the ECOWAS single currency initiative. Uwaleke, who is also the Director, Institute of Capital Market at the Nasarawa State University, Keffi, said this in an interview with...
Ambassador Nimi Akinkugbe (middle) flanked by other participants during the 100WF programme sponsored by FirstBank Ltd. on Friday night in Lagos Ambassador Nimi Akinkugbe, Nigeria’s Ambassador to Greece, has called for increased female participation in the Nigerian workforce across all sectors, as a critical factor in unlocking the...
The Federal Government has approved a $21 million dollars contract for the construction of a metering system for 187 crude oil flow stations in the country to curb oil theft. Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, this on Friday in Abuja, while briefing...
The Central Bank of Nigeria (CBN), has sold the sum of 122,671 million dollars to 46 authorised dealers. According to a statement issued by the apex bank’s Director in charge of Financial Markets, Dr Omolara Duke, the move is aimed at promoting stability as well as to reduce market...
The Federal Inland Revenue Service (FIRS) has said the number of new taxpayers in Nigeria has increased by 170,000 and tax compliance also improved by 20 per cent over a year. Special Adviser to the FIRS Executive Chairman, Dr Zacch Adedeji, Mr Femi Olarinde, made this known...
The President of Capital Market Academics of Nigeria, Prof. Uche Uwaleke, says the ECOWAS single currency if actualiseed, will facilitate free trade within the sub-region. Uwaleke, who is also the Director, Institute of Capital Market at the Nasarawa State University, Keffi, said this in an interview with...
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has advised the youth to take advantage of the potential in the maritime sector for economic growth. Oyetola gave the advice during the Employment Clinic, tagged “Blue Industry Career Insights”, organised by the Employment Transition Programme (EETP)...
The domestic bourse on Tuesday maintained a downward trend for the fourth consecutive session, causing investors to lose N114 billion. Selloffs in Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, Access Corporation, Ikeja Hotel, May & Baker, and RT Briscoe, among other declining equities, drove the...
Access Holdings Plc on Tuesday encouraged its shareholders to participate in the group’s rights issue offer, aiming to strengthen its bond with them. Mr Aigboje Aig-Imoukhuede, Chairman of Access Holdings, stated this at the group’s “Facts Behind The Rights Issue” presentation to the capital market community at...
By MBAFAN ADE, Abuja – The appointment of Jude Chiemeka as the Chief Executive Officer (CEO) of the Nigerian Exchange Limited (NGX) has continued to generate widespread acclaim from industry professionals, who believe his extensive experience and proven leadership qualities will drive NGX towards sustained success. Chiemeka,...
The Nigeria Hotel Association (NHA) on Tuesday urged the Federal Government to reintroduce fuel subsidy payment to marketers to allow hoteliers remain in business. Patrick Anyanwu, National President of NHA, made the call in a telephone interview with the News Agency of Nigeria (NAN) on Tuesday. According to...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said fuel stations are to operate longer hours for supply and distribution of petrol, calling on fuel stations to aid availability in view of the current tight situation. The NNPC Ltd. says the turnaround period of PMS trucking is...
By MBAFAN ADE, Abuja – The current fuel queues in the FCT and some parts of the country is as a result of the disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol. Chief Corporate Communications Officer, Nigerian National Petroleum Company Limited (NNPC Ltd.).,...