Tribunal orders Ecobank to pay N1.6bn to FIRS
The Tax Appeal Tribunal, Lagos Zone has declared as illegal, null and void the decision of Ecobank Nigeria Limited to…
Year: 2020
2019 debt servicing gulped N2.1tn — Investigation
The Federal Government spent a total sum of N2.1tn to service the country’s debt obligations to local and foreign debtors…
Shoprite selling property to pay for online, store upgrades
Shoprite Holdings Limited’s decision to sell some properties and lease them back is to free up cash to invest in…
Peugeot maker PSA’s revenue, profits rise in 2019
Peugeot maker PSA Group posted a higher-than-expected rise in 2019 revenue on Wednesday, although the volumes of cars sold declined, with the…
Discos deny receiving subsidy from FG
Electricity distribution companies, under the aegis of Association of National Electricity Distributors, has said they had not received any subsidy…
How Buhari regime depleted ECA by N1.5tn
Between 2015 and 2019, the Federal Government withdrew N1.5tn (about $4.92bn) from the Excess Crude Account, statistics obtained from the…
Immigration, NIMASA repatriate stranded Indian seafarer
THE Lagos Seaports and Marine Command of Nigeria Immigration Service, in collaboration with the Nigeria Immigration Service, NIS, and the…
Ondo targets N500bn investment through deep seaport project
ONDO State Governor, Rotimi Akeredolu, has said the development of a deep seaport project in the state will generate more…
WACT plans upgrade of phase-2 of facility
THE West Africa Container Terminal, WACT, has concluded plans to begin the second phase of its facility upgrade within the…
Dangote Fertiliser starts pre-testing of $2bn plant before inauguration
Dangote Fertiliser Limited has started the pre-testing of its $2 billion Granulated Urea Fertiliser plant located in the Dangote Free…
FG to buy up locally produced gold
The Federal Government has begun the registration of artisanal miners, following the commencement of the Presidential Artisanal Gold Mining Development…
Kano rice production hits 3MT per year
Kano State Governor, Dr Abdullahi Ganduje, says that the local production of rice in the state has reached three million…
Twitter founder, Jack Dorsey donates N2.3 million to Nigerian startup, DevCareer
Twitter founder, Jack Dorsey, has donated £5,000 ($6,437) in Nigeria’s nonprofit software startup, DevCareer. The fund from Dorsey, who was in Nigeria…
Manufacturing declines as 2.27% GDP growth surpasses IMF projection
The National Bureau of Statistics on Monday released the Gross Domestic Product report for the 2019 fiscal year with the…
Financial markets under pressure as coronavirus spreads
Worries about the economic consequences of the coronavirus epidemic hit financial markets on Monday with uncertainty among investors noticeably on…
Investors lose N181.08 billion as bourse bow to bears on Monday
The Nigerian Stock market started the week on a bearish trend, as investors lost a total of N181.08 billion on Monday. This…
NERC puts limits on Discos’ estimated billing
The Nigerian Electricity Regulatory Commission has placed limits on estimated bills that can be issued by electricity distribution companies to…
FG plans more incentives to boost capital market
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has promised that the federal government would introduce more tax…
Central bank clarifies position on operation of domiciliary accounts
The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit…
Sony launches first 5G smartphone as it hopes to turn around struggling mobile business
Sony has unveiled its first 5G smartphone in a bid to prop up its struggling smartphone business. With the f flagship…
Foreign Portfolio Investors inject $1.7bn into I&E window
FOREIGN Portfolio Investors (FPIs) injected $1.7 billion into the Investors and Exporters (I&E) window in January 2020 raising hope of…
Banks’ lending rates defy crash in TB yields
BANKS are yet to adjust their lending rates downward to reflect the sharp decline in treasury bills yields occasioned by…
Foreign reserves drop by $1.64bn in five weeks
The country’s foreign exchange reserves continued its downward trend as it dropped by $1.64bn from $38.34bn on January 15, 2020…
Dangote invests N63bn in Enugu-based automaker, buys 3,500 trucks
Dangote Group has entered into a long-term agreement with an Enugu-based automaker, Transit Support Services Limited, for the supply of…
CBN sets dollar deposit, withdrawal rules for customers
The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not…
Cash-Rich Berkshire Embraces the Idea of Life After Buffett
Warren Buffett waited until the very last page of his annual shareholder letter to reveal a big change: Shareholders will…
Shopify joins nonprofit behind Facebook’s Libra currency
Online commerce platform Shopify on Friday said it has joined the nonprofit association behind Facebook’s planned Libra cryptocurrency. Canada-based Shopify…
Forex: CBN injects $292.34million into retail Secondary Market
The Central Bank of Nigeria (CBN) has injected the sum of 292.34million dollars into the retail Secondary Market Intervention Sales…
NSE market indices dips 0.65%, amid Nestle N112 loss
The market indicators of the Nigerian Stock Exchange (NSE) on Friday declined by 0.65 per cent, amid loss posted by…
Filmhouse, Silverbird, others generate over N79.8 million on Valentine’s weekend
Valentine’s Day drove revenue of cinema houses across Nigeria over the weekend, making it the highest-grossing weekend since the yuletide period,…