New VAT regime, upward inflationary pressures are key economic headwinds – Cordros Research
Cordros Research has declared that the new Value Added Tax, VAT regime and persistent upward inflationary pressure are key economic…
Category: Local
100 tonnes of mutilated naira notes destroyed weekly—CBN
THE Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and…
Investors lose N153.6 bn amid sell-offs in blue-chip companies
Investors in the nation’s stock market on Monday (today) lost over N153.6 billion of their investment following the sell-offs of…
Lagos state turns to Bolt, Uber; tackles them on operation permit
These are not good times for ride-hailing companies and their patrons in Lagos, as Governor Babajide Sanwo-Olu led administration has…
EFCC to probe $8m intercepted by Customs
The Nigeria Customs Service has said it will hand over the $8,065,612m intercepted at the Murtala Muhammed International Airport, Lagos…
External debt servicing gulps $1.08bn in nine months — DMO
The Federal Government spent a total of $1.08bn (N400.90bn) on external debt servicing between January and September 2019. Data obtained…
Non-oil export earnings fall by 37.8%
Earnings from non-oil exporters fell by 37.8 per cent in the last quarter of 2019, the Central Bank of Nigeria…
Ministers, agencies working at cross purposes, advisers tell Buhari
The Economic Advisory Council of the President, Major General Muhammadu Buhari (retd.), has identified the lack of “synergy” between Ministries,…
Fidelity Bank appoints new Non-Executive Director
Fidelity Bank Plc has appointed Alhaji Isa Mohammed Inuwa as an Independent Non-Executive Director. The appointment, which has been approved…
7.5% VAT on voice calls, SMS: Direct your anger to FIRS ― Pantami
The Minister of Communications and Digital Economy, Dr Isa Ibrahim Pantami says the issues of VAT, does not fall under…
Nigeria’s revenue problem worries foreign investors — Khan
Foreign investors are worried about the low level of government revenue in Nigeria and the implication for the country’s ability…
Mining to contribute 3.0% to GDP by 2025
Yesterday, at the Mining Indaba conference held in Cape Town, the Nigerian Minister for Mines and Steel Development, Olamilekan Adegbite…
Debt exceeds revenue in 36 states, FCT, says FRC
All the 36 states of the federation contravened the guidelines of the Debt Management Office by contracting debts exceeding their…
N1.5tn revenue target for Customs too high — Stakeholders
Stakeholders have faulted the government for setting revenue target of N1.5tn for the Nigeria Customs Service this year. They insisted…
Berger Paints, Lagos govt in partnership talks
Berger Paints Plc has revealed plans to enter into a strategic partnership with the Lagos State Government on infrastructural projects.…
FG to reform business, land registration processes
The Presidential Enabling Business Environment Council has introduced its fifth National Action Plan aimed at rapid implementation of reforms for…
Subscribers may no longer have access to more than three phone lines
An individual may no longer be able to own more than three phone lines going by a directive handed down…
Fish importation to stop in 2022 – FG
Fish importation will stop in 2020, the Federal Government has assured. It said it would encourage local fish production to…
Nigerian Breweries to raise N45bn from commercial papers
Nigerian Breweries has revealed plans to raise N45bn from its commercial paper issuance. The company announced the launch of Series…
NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport
The Nigeria Customs Service disclosed on Tuesday that it intercepted $8.06 million at the Murtala Muhammed International Airport, Lagos from…
Currency in circulation increases by N240 billion in one month
The currency in circulation increased by N240 billion between November and December 2019. This was stated in the Central Bank…
SON destroys N480m substandard goods, raises concerns about importation
Notwithstanding the closure of the land borders by the Federal Government, the Standards Organisation of Nigeria (SON), has said many…
Challenges loom for Nigeria as OPEC may cut 500,000bpd
There are indications that Organisation of Petroleum Exporting Countries (OPEC), and its allies, especially Russia, will further cut oil supply…
FG approaches China for $17bn loans
The Federal Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It…
Banks recover N39.4bn non-performing loans from ICT sector
Nigerian banks recovered N39.4bn non-performing loans from its debtors in the Information and Communications Technology sector in one year. As…
Stock investors lose N207bn in 2 days
The equities market went down for two straight days yesterday following losses in some blue chip companies with investors losing…
Consolidated Hallmark Insurance Applies to Raise N1.057bn Capital
Consolidated Hallmark Insurance Plc (CHI) has applied to raise about N1.057 billion from shareholders via a rights issue, as part…
BREAKING: Police, Air Force take over MMIA toll gate
Policemen and Nigeria Air Force personnel were on Tuesday drafted to the Murtala Muhammed International Airport ( MMIA ) Access…
Stock market opens week with N160bn loss
The nation’s stock market opened the week with N160bn loss as sell pressures in BUA Cement Plc, Zenith Bank Plc…
GTBank, Dangote Cement, Zenith Bank, make ARM’s hot stocks list
The stocks of Dangote Cement Plc, Zenith Bank Plc, Nestle Plc, Nigerian Breweries Plc, and Seplat Plc are shares of…