BUSINESS

FIRS launches six online tax solutions for convenience and transparency

The Federal Inland Revenue Service (FIRS) has introduced six key electronic solutions (e-Services) to enhance convenience, transparency and round the clock processing and payment of taxes. Some of the e-Services, which could now be accessed online, are taxpayer registration (through ...

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Petroleum marketers in Ekiti suspend strike

The Independent Petroleum Marketers Association of Nigeria, IPMAN, in Ekiti on Sunday suspended its strike. The IPMAN embarked on the action on May 25, over demolition of some petrol stations and the revocation of some Certificate of Occupancy by the ...

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Naira gains, stock market hits new high

Nigerian naira gained on Friday to trade at about 370 per dollar at the parallel market, while the British pound and European euro went for 480, 415, respectively. The country’s foreign exchange reserves however took a dip, sinking from $30,360,798,903 ...

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Indonesia to increase purchase of crude oil from Nigeria

The Nigerian National Petroleum Corporation (NNPC) said Indonesia has indicated its interest in increasing its purchase of crude oil from Nigeria. The NNPC in a statement signed by Mr Ndu Ughamadu NNPC Group General Manager, Group Public Affairs division in ...

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Financial sector lost N2.19bn to fraudsters in 2016

The nation’s financial sector lost N2.19 billion to fraudsters in 2016, according to Annual Report of the Nigeria Electronic Fraud Forum (NeFF), released in Abuja. According to the report, the actual money lost to fraudsters is slightly less than the ...

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CBN injects $482.6m into forex market

The Central Bank of Nigeria (CBN) on Tuesday intervened in the inter-bank market to the tune of $482.6 million in the first trading day after the democracy day celebrations. This is coming at a time when the country’s reserves is ...

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Osinbajo signs two new laws to allow affordable credit facilities, SEE NEW COLLATERAL

Nigeria’s Acting President, Prof Yemi Osinbajo has signed two new laws that would help facilitate access to more affordable credit facilities for businesses in the country. In a statement released on Tuesday, Laolu Akande, Osinbajo’s spokesman, listed the acts to ...

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AMCON recovered N134 billion in 2016 — MD

Ahmed Kuru, the Managing Director of the Asset Management Corporation of Nigeria, AMCON, on Friday said the agency recovered N134 billion loans in the 2016 financial year. Speaking on the performance of the company in 2016, Mr. Kuru said, “In ...

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Why Made-in-Nigeria will give small businesses a boost

Nigerian Federal Government should be commended for putting the spotlight on local manufacturers through initiatives such as the Made-in-Nigeria Dress Days and an Executive Order compelling state agencies to direct at 40% of procurement to Made-in-Nigeria goods and services. That’s ...

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OPEC admits Equatorial Guinea as member

Africa’s third-biggest oil producer, Equatorial Guinea, has been accepted as a new member of the Organisation of the Petroleum Exporting Countries (OPEC), Reuters reports on Thursday. Equatorial Guinea said in January it was seeking to become OPEC’s 14th member and ...

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