Business

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 [...]

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 [...]

CBN extends BVN registration for Diaspora Nigerians

The Central Bank of Nigeria, CBN, has announced an additional six months extension on its Bank Verification Number, BVN exercise for bank customers abroad.

The extension which came four days after the elapse of the initial January 31, deadline, the CBN says will allow for more participation and [...]

GDP drops in 2015 as falling oil prices persist

The Gross Domestic Product, GDP, of the Nigerian economy has taken a downward slope in 2015 compared to economic growth in previous years, the National Bureau of Statistics, NBS, has said.

The bureau in its latest analysis of the Nigerian economy over 2010 through 2015 shows that the growth rat [...]

$5.2b fine: MTN engages ex-U.S attorney general against NCC

Telecommunications giant, MTN Nigeria, has employed the services of the immediate past Attorney General of the United States, Mr. Eric Holder, in its $5.2billion legal battle with Nigerian Communications Commission, NCC.

The tussle between the Nigerian government and the South African company t [...]

A one day workshop on breast feeding

L-R: Mr. Kachi Onobogu, Executive Director, Commerciaal, Promasidor Nigeria Ltd, Mr. Olivier Thiry, Managing Director, Promasidor, Prof. (Mrs) Ngozi Nnam, keynote speaker and Festus Tettey, Head of Marketing, Promasidor at a one-day workshop on breast feeding organised by Promasidor, Lagos.

Adeosun seeks PPP to address infrastructural dearth

Minister of Finance Mrs. Kemi Adeosun, has called for better collaboration between government and the private sector in addressing the poor state of infrastructure in the country.

Adeosun, who lamented that the years of underinvestment and poor maintenance have left Nigeria’s infrastructu [...]

FG denies MTN settlement claims

The federal government has distanced itself from claims in some section of the media that it has opted for an out of court settlement in the $3.4 billion fine case between the Nigerian Communications Commission and MTN Nigeria.

Minister of Communication, Mr. Adebayo Shittu, made the clarificati [...]