FG: Amazon, AliExpress to pay 6% tax on profits made from Nigerian customers
Nigerian FG says non-resident companies are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An…
Category: Local
Forex Inflows Into Nigeria Increase By 64% To $30bn In The Q3 Of 2021
The amount of foreign exchange that entered Nigeria in the third quarter of 2021 increased by 64% to $30.18 billion,…
Manufacturers Kick Against Excise Duty On Soft Drinks
The Manufacturers Association of Nigeria (MAN) has kicked against the Federal Government imposed excise duty on all non-alcoholic and carbonated…
German cartel office steps up examination of Google products
Germany’s cartel office examines Google’s use of personal data and its Google News Showcase product under its new powers to…
European markets set to drop sharply at the open following U.S. sell-off
European stocks awaits to open sharply lower following losses that saw the Dow Jones notching its first decline of 2022.…
Airtel Africa’s Shares Hit All-Time High On NGX After Asset Sale In Tanzania
The shares of Airtel Africa hit an all-time high price of N1,050.50 on Wednesday, gaining a maximum of 10 percent.…
Nigeria: Coke, Fanta Prices To Increase As FG Imposes N10/Litre Excise Duty On Carbonated Drinks
The federal government has introduced an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages. Excise…
Nigeria: Fed Govt Set To Reduce Workforce
The Federal Government is set to reduce its workforce. It is designing what it calls an exit package for government…
AMCON lists 7,912 names owing N4.4tn as deadline expires today
The Asset Management Corporation of Nigeria is set to publish names of Loan debtors owing it a total of N4.4tn.…
US aviation, telecom groups agree on 5G data sharing
Aviation and telecom groups in the United States have said they will share data to help resolve safety concerns related…
Foreshore Waters Secures N2.4bn BOI Facility
Foreshore Waters Limited has secured a N2.4 billion loan facility from the Bank of Industry to support the company’s growth…
Review forex ban on 40 items to save naira, economists tell CBN
The Centre for the Promotion of Private Enterprise, has advised the Central Bank of Nigeria to review its ban on…
U.S. SEC charges Medallion taxicab lender with fraud, shares tumble
The U.S. Securities and Exchange Commission charged Medallion Financial Corp and its president with fraud. They were charged for trying…
Asset Sales To Dominate Nigeria’s Oil Sector, Says Analyst
Nigeria is likely to contend with a gale of divestments by international oil companies, According to the global provider of…
Nigeria: We’ll partner govt to reduce unmetered customers – IBEDC
Ibadan Electricity Distribution Company Plc has re-inaugurated the Meter Asset Provider Scheme efforts to enhance meter rollout across its areas…
With 50% Increase, Oil Price Records Biggest Annual Gain Since 2009
Oil prices fell at the weekend but still posted the biggest annual gains since 2009, spurred by the global economic…
BREAKING: Buhari Appoints Doyin Salami Chief Economic Adviser
President Muhammadu Buhari has appointed Dr Doyin Salami as his Chief Economic Adviser. This was disclosed by the Special Adviser…
South African Court Asks Shell To Stop Seismic Survey
South Africa court has ordered Shell to halt a seismic campaign off the Wild Coast, in the nation’s Eastern Cape…
We Paid Out Over N240bn To Customers In 2021 – PiggyVest
PiggyVest, a savings and investment platform, says over N242 billion was paid to 3.5 million customers in 2021. Somto Ifezua,…
With 200 Deals, Nigeria Tops List Of Beneficiaries Of $5bn Investments
Nigeria tops the list of African countries that benefitted from the $5 billion raised by Africa’s technology start-ups in 2021.…
Private Sector To Provide N298.3tr Needed For 2021 –2025 NDP
The private sector is expected to pool N298.3 trillion (89.7 per cent) of the 2021-2025 National Plan’s total spend. Specifically,…
Amid Currency Crisis, Nigeria Reserves Gain $5 Billion In 2021
Amid currency crisis and fluctuation in oil prices. The country’s gross foreign reserves dipped by nearly $600 million in December…
EU Countries Seize 82% Of Nigeria’s Agro Products Exported Illegally – FG
About 80 per cent of agro-products from Nigeria that are intercepted and seized by the European Union member nations are…
United States Federal Bureau Of Prisons: Invictus Obi Will Be Released In September 2028
According to a statement on the United States Federal Bureau of Prisons website, Obinwanne Okeke will be released in 2028.…
Seven Companies Delist, Three Lists On NGX In 2021
A total of seven companies delisted and three were listed on the Nigerian Exchange Limited (NGX) in 2021 amid expectation…
Nigeria’s Solar Industry Growing, Says US-Nased Firm
A United States-based solar product design and marketing company, SolAps, has said the Nigerian solar power industry is growing and…
Nigeria: FG Borrows N13.6tn Via Bonds In Six Months Amid Rising Deficit Financing
The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn,…
Cargoes Are Trapped In China’ — Lagos Shippers Lament Container Scarcity
The Shippers Association of Lagos (SAL) has expressed worry over the scarcity of empty containers to bring cargoes into the…
SEC Urges Nigerians To Avoid Deals With FinAfrica, Poyoyo Investment
The Securities and Exchange Commission (SEC) has warned the public against dealings with FinAfrica Investment Ltd and Poyoyo Investment. The…