US small business sentiment ebbs in August amid rising uncertainty
Small-business confidence in the U.S. fell in August, reversing July’s gains due to growing uncertainty ahead of the November 5…
Category: Business
Huawei seeks to steal spotlight from Apple with launch of $2,800 tri-fold smartphone
Huawei launched its $2,800 tri-foldable Mate XT smartphone just hours after Apple’s iPhone 16 debut, positioning itself as a key…
Nigeria, China sign $3.3 billion deal for brass industrial park
Nigeria and China have signed a $3.3 billion agreement to develop the Brass Industrial Park and Methanol Complex in Bayelsa…
Forex crisis crashes border trade by 80% – Operators
Licensed customs agents operating at Nigeria’s land borders have reported a significant 80% decline in trade activities due to the…
Agriculture led company income tax with 474.50% in Q2 2024 – NBS report
Nigeria’s agricultural sector led the growth in Company Income Tax (CIT) during the second quarter of 2024, recording a massive…
Electricity DisCos collects N150 billion as revenue in June- NERC
In June 2024, electricity distribution companies (DisCos) across Nigeria collected N150.86 billion, achieving an 85.44% revenue collection efficiency, according to…
Wike signs MoU with Chinese engineering firms for electricity and water projects in FCT
The Federal Capital Territory (FCT) Minister, Nyesom Wike, has formalized a Memorandum of Understanding (MoU) with two major Chinese engineering…
Japaul Gold & VenturesLists N20bn Worth of Shares on NGX
Japaul Gold & Ventures Plc has received approval from the Securities & Exchange Commission (SEC) for a special placement of…
Banks begin charging up $20 as fees on foreign currency accounts
Several commercial banks in Ghana have reintroduced charges on foreign exchange accounts, with fees reaching up to $20 depending on…
T-bills target missed for 9th consecutive time; auction falls by GH₵755m
This week, the Ghanaian government fell short of its money market auction target by GH₵755 million, securing GH₵4.89 billion out…
Secured Loans surge to Gh¢10.8bn in Q2 2024
In the second quarter of 2024, the total value of secured loans granted by banks and Specialized Deposit-Taking Institutions (SDIs)…
CBN Boosts Forex Liquidity, Sells Dollars To BDCs At N1,580
The Central Bank of Nigeria (CBN) has injected liquidity into the foreign exchange market by selling US dollars to Bureau…
Company Income Tax revenue rises 151% in Q2 2024 to N2.47 trillion
Nigeria’s Company Income Tax (CIT) skyrocketed by 150.83% in Q2 2024, reaching N2.47 trillion compared to N984.61 billion in Q1…
Transcorp Hotels Named Best Hospitality Service Provider
Transcorp Hotels Plc, listed on the Nigerian Exchange (NGX), has been honoured as the Best Hospitality Service Provider at the…
Atiku slams Tinubu admin on VAT raise, warns of worsening economic crisis
Former Vice President Atiku Abubakar has condemned the recent Value Added Tax (VAT) increase from 7.5% to 10%, describing it…
Economic Insight: 50% electricity subsidy for public hospitals and educational institutions: In the right direction
In the 21st century, a nation’s wealth is measured by its human capital—its people’s education, healthcare, and skills—rather than natural…
European markets start the week on a positive note
On August 28, 2024, European markets opened higher, with the pan-European Stoxx 600 index gaining 0.67% in early London trading.…
Stock market returns bearish amid increase in price of petrol
The Nigerian stock market closed bearish last week, impacted by a sharp rise in petrol prices, which surged from N600…
Nigeria’s SEC to begin crackdown on unregulated crypto exchanges, others
The Securities and Exchange Commission (SEC) of Nigeria has announced that it will soon begin enforcement actions against unregulated individuals…
As multinationals exit, these Nigerian companies are spending billions on expansion projects in 2024
Nigeria is experiencing a notable exit of companies due to economic challenges and reforms in energy and forex markets. Major…
Only Nigerians with NIN can buy ₦40,000 rice – FG
The Federal Government has launched the sale of 30,000 metric tonnes of subsidised milled rice, requiring buyers to present a…
BoI boosts funding with Euro 1.43b global loan syndication
The Bank of Industry (BOI) has successfully raised €1.43 billion in a global loan syndication, marking a 142.5% oversubscription, a…
Unity Bank restores service, begins duty collection
Unity Bank Plc has announced the restoration of its services and readiness to collect customs duties from licensed customs agents…
Operators sue govt as PoS registration deadline ends
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has taken legal action against the Corporate Affairs Commission…
United Capital Trustees gets new CEO
United Capital Trustees, a subsidiary of United Capital Plc, has appointed Michael Thomas as its new Managing Director and Chief…
Tax expert cautions FG against implementing 10 per cent VAT
Former Ogun State Commissioner for Finance, Mrs. Morenike Babington-Ashaye, has cautioned the Federal Government against implementing the newly proposed 10%…
PFAs diversify assets as equity stake jumps 40%
Nigeria’s Pension Fund Administrators (PFAs) have increased their equity investments by 40% in just one year, reflecting the growing confidence…
Delisting: Shareholders’ stance unchanged amid PZ Cussons’ N28bn negative equity
Shareholders of PZ Cussons Nigeria are pushing back against the company’s plan to delist from the Nigerian Exchange (NGX), despite…
Sub-Saharan Africa to make 25% of global workforce – Report
Shareholders of PZ Cussons Nigeria are pushing back against the company’s plan to delist from the Nigerian Exchange (NGX), despite…
Yield-hungry investors subscribe Nigerian Treasury Bills with N1.13 trillion
Investor interest in Nigerian Treasury Bills (NTBs) surged at the recent auction held on September 4, 2024, as total subscriptions…