Category: Business
Google has informed its Nigerian users that the company would charge 7.5% VAT on all taxable goods and services, effective from April 1st, 2022. This was disclosed by Google via email sent to its Nigerian users. Google also stated that the amount of VAT charged on purchases will appear as a separate line in the […]
The Chartered Institute of Bankers of Nigeria has concluded arrangements to commission its new ultra-modern building known as the Bankers House, Abuja. The Commissioning will hold on Thursday, March 3, 2022, in Abuja at 11 am. The building situated at No 12 Oro Ago Crescent, Garki II, Abuja will be commissioned by the Vice President, […]
The Presidential Enabling Business Environment Council (PEBEC) has released its 2020/2021 Business Made Easy Report and the 2021 E01 compliance report. This is in line with its commitment to measure continuously the compliance to the Executive Order (EO1) on the Promotion of Transparency and Efficiency in the Business Environment and to capture periodically the footprints […]
Tier 1 lender Zenith Bank Plc is set to pay shareholders N97.32 billion total dividend for the financial year 2021, translating to N3.01 per share, after getting shareholders to agree to a dividend payout of N87.91 billion for the second half of the year, which translates to N2.80 per share. The bank had earlier paid an interim […]
The Central Bank of Nigeria (CBN) has released guidelines for the operationalisation of its R200 policy. The News Agency of Nigeria (NAN) recalls that the CBN recently initiated the R200 policy in an effort to reduce exposure to volatile sources of foreign exchange and to earn more stable and sustainable inflows. The policy is aimed at raising […]
The Lagos State Government has charged real estate developers to ensure that all necessary documents needed for the processing of their Planning Permits are perfected before approaching the agency for approval. This is as the government has emphasized on its 10-day time frame as a form of incentive to encourage property developers to come obtain […]
Nigeria’s Minister of State for Petroleum, Timipre Sylva has revealed that Nigeria currently has plans to meet European demands for natural gas, but warns it will take time to build the infrastructure necessary to up capacity. Sylva disclosed this in an interview with Bloomberg on Wednesday morning. He added that Nigeria currently is working on […]
The price of Bitcoin, the world’s most popular cryptocurrency, fell further below the $35,000 benchmark on Thursday after Russia launched an attack on Ukraine. Russian forces attacked Ukraine after President Vladimir Putin announced he had authorised a “special military operation” in the country’s east. In less than 24-hour, Bitcoin dipped by nearly 8 per cent to […]
The Minister of Communications and Digital Economy, Prof. Isa Pantami, has challenged startups and innovators in the country’s ecosystem to take ownership of existing policies to further consolidate and enhance the success of the ecosystem. Pantami gave the charge when he met with indigenous innovators in Lagos, to explore avenues of developing the ecosystem to […]
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the CBN is tackling the economic challenges facing the Nigerian economy through its various challenges. Emefiele, represented by the Corporate Communications Director, CBN, Mr Osita Nwanisoba, said this at the end of a two-day CBN Fair in Asaba. He said, “CBN is […]
Nigerians have blamed the federal government for the scarcity and the importation of dirty fuel into the country, raising concerns about the health and economic implications of this on citizens. Many participants, who spoke at the weekly episode of the PREMIUM TIMES’ TwitterSpaces titled “Yeye fuel for the market, who we go blame?”, accused the […]
Citigroup, a financial service firm in United States, has announced plan to establish its commercial and consumer banking operation in Africa’s largest economy, Nigeria, after years of advisory roles. The firm has been operating in Nigeria since 1984 through some clients, Seplat, MTN Nigeria, Airtel Africa, AFC, and also the Federal Government and its agencies, […]
The International Monetary Fund says the prospective expansion of eNaira use to cross-border fund transfers and agency bank networks may lead to new money-laundering and financing of terrorism risks. The IMF disclosed this in its ‘Nigeria Staff Report for the 2021 Article IV Consultation’ report. According to the report, although there are some benefits, such […]
Oil prices rose to their highest level since 2014 after Moscow recognized the independence of the breakaway regions of Donetsk and Luhansk and moved its troops into eastern Ukraine, aggravating European supply concerns. Spot Brent prices have been trading above the $100 per barrel since last week, now even ICE Brent futures seem to be […]
Naira clinched a meagre gain against the U.S. dollar at the official market on Tuesday, extending its appreciation at the spot market segment to a second day. The local unit closed at N416.00 on the dot per $1 on Tuesday, a N0.67 or 0.16 per cent appreciation from N416.67 it exchanged on Monday, data posted […]
