Latest Nigeria Business News
The planned increase of the Value Added Tax rate from the current 5 per cent to 7.2 per cent is already generating rumpus in different quarters with concerned stakeholders expressing fears that the new policy regime on VAT would further impoverish Nigerians, report Ibrahim Apekhade Yusuf, Charles Okonji and Medinat Kanabe To say that the […]
There are over 32 million Africans in the Diaspora, accounting for $40 billion remittances yearly, and savings of about $53 billion – most of it outside Africa, the African Export-Import Bank (Afreximbank) has said. Its Senior Manager, Intra-African Trade Initiative, Gainmore Zanamwe, said the economic size of Africans in the Diaspora was staggering. According to […]
THE cashless policy introduced by the Central Bank of Nigeria (CBN) is to discourage the preference for cash in exchange of value by businesses and individuals. Founder and Director, PayAttitude, Agada Apochi, has said. In a statement, he said the implementation of the cashless policy will help the CBN in stopping subsidy of the rich […]
For the first time in 12 months, Nigeria has recorded positive foreign investment flow as foreign portfolio investors (FPIs) appeared to be showing renewed interests in Nigerian securities, implying that more foreign portfolio investments came into the country than outflows. The FPIs report indicated a positive net foreign portfolio investment of about 20.5 per cent. […]
THE World Bank at the weekend, warned that slow global growth and sluggish investment in Nigeria and other developing countries would most likely increase poverty and frustrate its goal for poverty alleviation. World Bank Group President David Malpass, who gave the warning at the Peterson Institute for International Economics, Washington, DC, United States, said the […]
United Bank for Africa Plc has said services on its Chatbot, Leo, is now available for customers on Apple Business Chat, where its users can communicate directly with businesses using the Messages app on iPhone and iPad. This was disclosed during the inauguration of the service at the bank’s head office in Lagos. The Group […]
The Nigerian National Petroleum Corporation on Sunday announced that it had secured the closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company operated OML 65. A statement issued by the NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, said the corporation had sealed a funding and technical services agreement with […]
The President of the Senate, Ahmad Lawan, has hinted that the upper legislative chamber might review the nation’s security architecture to address emerging security challenges across the country. Lawan however said the proposed review would be carried out in collaboration with the executive arm of government, as he stressed the urgent need for improvement in […]
The Federal Government on Friday charged the convener of #RevolutionNow protest, Omoyele Sowore, with treasonable felony and money laundering. Sowore, promoter of an online media platform – Sahara Reporters, who was also presidential candidate of African Action Congress (AAC) in the last presidential election, is charged along with Olawale Bakare, also known as Mandate, in […]