Thirty four major companies are currently enjoying tax holiday in Nigeria, according to a report by the Nigerian Investment Promotion Commission. The federal government gives companies in critical sectors of the economy tax holiday, also known as the Pioneer Status Incentive, to encourage and attract investment into sectors that could significantly impact development and deliver […]
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The Nigerian Stock Exchange (NSE) has been named the best-performing stock market among the 93 equity indexes being tracked by Bloomberg across the world. The all-share index which opened at 38,800.01 inched higher by 310.16 points or 0.80 percent to cross the 39,000 mark and close at 39,110.17. Also, the market capitalisation rose by N167 […]
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French couturier Pierre Cardin, who made his name by selling designer clothes to the masses and his fortune by being the first to exploit the name as a brand for selling everything from cars to perfume, is dead. Cardin died on Tuesday, Dec. 29, 2020 at the age of 98. Cardin was the first designer […]
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President Muhammadu Buhari on Wednesday approved the immediate reopening of four major land borders in Nigeria. The four borders are Seme in the South-west part of the country, Ilela in the North-west part of the country, Maitagari in the North-west part of the country and Mfun in the South-south part of the country. Nigeria’s finance […]
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Emirates has welcomed MSN A6-EVL, its 116th A380 as the first of three A380s to join its fleet in 2020. The newest member of the Emirates fleet was powered by a blend of jet fuel and sustainable aviation fuel (SAF). This is the first time the airline is using sustainable aviation fuel to power an […]
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The federal government has reduced the pump price of petrol by N5. Chris Ngige, the minister of labour, announced the decision while addressing journalists at the end of a meeting with labour union leaders. The price reduction, which will take effect on Monday, December 14, will see petrol retail at N162.44 per litre. “Our discussion […]
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Akinwunmi Adesina, President of the African Development Bank Group, has said Africa will lose up to 30 million jobs by the end of 2020. He said this at the ‘Virtual 2020 International Forum on African Leadership’ in Ivory Coast on Friday. Adesina, who was Nigeria’s Minister of Agriculture, said the lockdown occasioned by the COVID-19 […]
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The Maritime Workers Union of Nigeria (MWUN) is to embark on a three-day warning strike from Dec. 7, to protest the deplorable state of access roads to seaports in Lagos State. In a communique it issued on Saturday in Lagos, MWUN said that the situation was no longer tolerable. The communique was signed by the […]
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Billionaire business mogul, Jimoh Ibrahim, has approached the Federal High Court in Lagos with a Motion on Notice seeking the reversal of an interim court order which authorised the Asset Management Corporation of Nigeria (AMCON) to take over his property over alleged N69.4bn debt. The seizure order was made by Justice Rilwan Aikawa on November […]
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The Central Bank of Nigeria has announced that beneficiaries of diaspora remittances through the international monetary transfer operators (IMTO) can now such inflows in foreign currency (US Dollar) through the designated bank of their choice. The apex bank in a statement signed by O.S. Nnaji, director of trade & exchange of CBN, said recipients of […]
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