Kuda launches virtual PoS for SMEs
Kuda, through its Kuda Business platform, has launched virtual and physical point-of-sale (PoS) products aimed at streamlining payment processing for…
Category: Local
FG eyes slice of OPay, Palmpay N46tn transactions
The Nigerian government is set to implement a new Electronic Money Transfer Levy (EMTL) from September 9, 2024. This levy…
Boon for Nigeria as Shell’s $1.3bn assets sale gets regulatory nod
Shell International Plc has secured approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to…
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…
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…
CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns
The Central Bank of Nigeria (CBN) successfully raised N9.27 trillion from Nigerian Treasury Bills (NTBs) across auctions held between January…
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…
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…
Investors’ Negative Sentiment Drags Stock Market YtD Performance to 28.97%
The Nigerian stock market has experienced a decline, with the Year-to-Date (YtD) performance dropping to 28.97% due to profit-taking in…
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…
Nigeria targets 30GW power supply by 2030
Nigeria’s Minister of Power, Adebayo Adelabu, has announced that the country is committed to achieving universal energy access by 2060,…
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…
Why We Approved Crypto Exchanges- SEC
The Securities and Exchange Commission (SEC) of Nigeria recently approved two cryptocurrency exchanges, Busha Digital and Quidax Technologies, as part…
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…
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…