Company Income Tax Dropped By N124.71Bn In 2021 Q4 -NBS
Company Income Tax (CIT) recorded a N124.71 billion decline from N472.52 billion in quarter three, 2021 to N347.81 billion in quarter four, the National Bureau of Statistics (NBS), said. The…
Ghana Regains Exemplary Status In Money Laundering Fight
Ghana has restored its image as an example to West African peers in the fight against the illicit flow of funds to finance illegitimate activities. It follows the country’s earlier…
Revenue collection has increased by 48% in the last five years
The report states that revenue collection has increased from shs13.4 trillion in 2016/2017 to shs21.1 trillion in the 2020/2021 financial year. In the draft national budget for the next financial…
Treasury Targets Sh50 Billion From March Bond Sale
The National Treasury is seeking to raise Sh50 billion from three bond sales in March, comprising reopening of securities that were first auctioned between 2020 and last year. The government’s…
NSE Sheds Sh92Bn In A Day As Russia Invades Ukraine
The market capitalisation closed at Sh2.453 trillion compared to Sh2.546 trillion on Wednesday, with Safaricom, East Africa Breweries Limited (EABL) and the big banks leading in shedding value in the…
Kenya Set Date To Unveil Flying Taxis
Kenya Airways will pilot electric vehicles that take off and land vertically to beat traffic from 2025 as part of the airline’s diversification through its new subsidiary Fahari Aviation. The…
Since 1973 Naira Loses10.6% Of Its Value Annually – IMF
The International Monetary Fund says the long-term rate of the depreciation of the naira equates to a loss of 10.6 per cent of its value annually since 1973. According to…
WHO Sets Up Hub To Train Low And Middle-Income Countries On Vaccine Production
The World Health Organization (WHO) has set up a hub in South Korea to train Nigeria and other low and middle-income countries to produce their own vaccines and therapies. Nigeria…
Nigeria’s N898Bn Wheat Imports At Risk As Russia-Ukraine Conflict Escalates
Russia’s status as the largest exporter of wheat in the world is causing disquiet in many countries following its military incursion into Ukraine earlier today. Currently, wheat is one of…
After Alphabet’s Stock Split, Amazon And Others Look Ripe To Split Shares
Alphabet GOOGL+4.00% recently announced it is splitting its stock. It probably won’t be the only company to do so in the short term—and that’s a good thing for the stock…
URA Ramps Up Crackdown On Tax Defaulters
The Uganda Revenue Authority (URA) has reiterated its call to taxpayers in Kampala Metro Region to clear any outstanding taxes immediately to avoid inconveniences. This was contained in a reposted…
Blackout Fears As Kenya Power Staff Plan Strike
Kenya Power’s KPLC workers have threatened to go on strike in a dispute over the firm’s plans to lay off 20 percent of its employees or nearly 2,000 staff, most…
CBK Seeks Digital And Mobile Payment Platforms Fees Cut
The Central Bank of Kenya (CBK) has asked digital payment service providers including mobile money firms to cut their prices, arguing that they have the headroom to charge customers less.…
T-Bills Interest Rates Jump To Two-Year High
Interest rates on Treasury bills have climbed to a two-year high on the back of a higher bid acceptance rate by the Central Bank of Kenya (CBK) as it looks…
NAICOM, CIIN seek to boost insurance sector growth
The National Insurance Commission and the Chartered Insurance Institute of Nigeria have emphasised the need for operators in the insurance sector to ensure strategies that will boost its growth. The…
NGX inducts 133 new authorised dealing clerks
Nigerian Exchange Limited has inducted a total of 133 authorised dealing clerks from 63 trading license holders. During the induction ceremony, the CEO NGX, Mr Temi Popoola, said, “On behalf…
Duty on vehicles, cargoes imported via PTML hits N224bn
The duty collected on imported used vehicles and other cargoes through Ports & Terminal Multipurpose Limited, one of the terminals in Apapa, increased to N224.47bn last year. According to a…
Purple Lekki Is Creating An Iconic Space For Techies In Lagos, In Partnership With Ventures Park
Purple Lekki and Ventures Park announced today that both companies have entered into a strategic partnership for an iconic private office / co-working space within the upcoming Purple Lekki Development.…
Dangote Sugar Plc loses over N11 billion in market value in a single session
At the end of yesterday’s trading session, Dangote Sugar Refinery’s share price depreciated by 5.28% to close at N17.05 per share. These figures took the market capitalization from N218.64 billion…
Five Digital Products Propelling MTN Towards Tech
MTN has been growing alternative sources of revenue outside voice, maintaining an accelerated growth trajectory, with massive adoption of its data, fintech, and digital services. Its digital platforms provide services…
African fintech, The Green Exchange targets $5 billion green bond issuance in Nigeria, others
African fintech, The Green Exchange is targeting $5 billion in green bond sales within five years to fund green bonds projects across the continent. The targeted countries for the sales…
Cardano To Launch P2P Lending Network In Africa
Charles Hoskinson, the co-founder of Cardano, has disclosed that the Cardano blockchain plans to launch a peer-to-peer (P2P) lending in Africa, as part of efforts to bridge the gap between…
London Stock Exchange Acquires Tora For $325 Million
The London Stock Exchange Group (LSEG) announced that it has acquired a United States’ based cloud technology provider, Tora for $325 million. The deal is expected to close in the…
NGX Loses N21 Billion As Investors Initiate Cautious-Trading
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 8 basis point. The NGX ASI closed at 47,207.27 points, to…
Advans Partners Axa Mansard To Launch Micro-Health Insurance Products
Advans La Fayette Microfinance Bank said it launched a micro-health insurance product in partnership with AXA Mansard, aimed at facilitating financial inclusion through insurance offerings. The bank said in a…
Nigeria:Demand Tickets From LASTMA When Arrested, Lagos Tells Commuters
The Lagos State Government, through the state Ministry of Transport, has urged Lagosians to always demand tickets from officer of the Lagos State Traffic Management Authority when arrested. The Assistant…
FG begins probe of airlines over alleged collusion to fix airfares
Federal Government has commenced investigations into the alleged collusion by domestic airlines to fix airfares on all domestic routes. As airlines aside from Green Africa Airways raised the airfare for…
Jamaica Finalising Steps To Debut Its CBDC
The Jamaican government has stated that it is finalizing preparations to launch the country’s central bank digital currency. In a press statement, the Bank revealed that it has already chosen…
Port congestion looms as 8,000 vehicles arrive Monday amid strike
Following the withdrawal of services by freight forwarders and clearing agents at Ports & Terminal, Lagos ports terminals may become congested as more ships berth in the coming days. According…
FG to partner CBN, SEC on national savings scheme
The Minister of Finance Budget and National Planning, Zainab Ahmed on Tuesday received the National Savings Scheme Report from the Working Group, Accompanied with the report was a pledge to…