Business

Nigeria, Japan seal N2.17bn power supply deal

The Federal Government has signed N2.17bn ($11million) deal with the Japanese Government for an emergency improvement of electricity supply facilities around Abuja.

Minister of Budget and National Planning, Udoma Udo Udoma, who signed on behalf of the Nigerian government, said the electricity s [...]

Sun, 14 February 2016


CBN justifies investment in real sector

The Central Bank of Nigeria has given reasons for its several interventions in the real sector of the economy, saying ‘Central banking’s responsibilities, now transcends the orthodox responsibilities of monetary activities to developmental activities.’

Defending the over N1.3t [...]

Sun, 14 February 2016


Nigeria’s teledensity drops by 0.79%

Nigeria has witnessed a 0.79percent drop in its teledensity in December 2015, resulting from the visible drop in the number of active customers in the nation’s telecommunications industry.

According to the latest Monthly Subscriber Data from the Nigerian Communications Commission, NCC, th [...]

Sun, 14 February 2016


When Bankers’ c’ttee blacklisted forex for fees, medical bills

Worried about the increased demand for foreign exchange for payment of schools fees and medical bills abroad, the Central Bank of Nigeria and commercial banks in the country have said they would no longer issue forex for such demands.

The latest decision which brings the list of prohibited item [...]

Sun, 14 February 2016


2016 FIRS corporate strategy retreat in Abuja

L-R: Chairman, Federal Inland Revenue Service, Mr. Tunde Fowler, Minister of Federal Capital Territory, Muhammad Bello during the 2016 FIRS corporate strategy retreat in Abuja

Sat, 06 February 2016


An advocacy meeting by Team Guinness at the High Commission in Abuja

L-R: Global head, Policy and Public Affairs, DIAGEO London, Mr. Richard Burn, Director, Global Corporate Relations, Ms. Charlotte Lambkin, Commissioner, British High Commission, Mr. Paul Arkwright and Director, Corporate Relation, Guinness Nigeria, Mr. Sesan Sobowale during an advocacy meeting by Team [...]

Sat, 06 February 2016


Free Trade Zones: CBN unveils guideline for banks operation

Nigeria’s apex bank, the Central Bank of Nigeria has exempted all banks operating in free trade zones in the country from stamp duties on all its documents, withholding tax deductions on interest payable on deposits, dividends and royalties as well as corporate and capital gains taxes.

In [...]

Sat, 06 February 2016


2016 budget: FIRS targets non-oil sector

As the debate for alternative sources of revenue to fund the 2016 budget deeps, the Federal Inland Revenue Service, FIRS, has given the assurance that it will generate N4.695 trillion from the non-oil sector to finance the budget.

Executive chairman of the FIRS, Mr. Babatunde Fowler, who gave t [...]

Sat, 06 February 2016


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