In an impassioned key note speech, delivered before global leaders, at the 7th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, African investor and philanthropist Tony O. Elumelu CON, challenged the Government of Japan to invest 5% of its $50billion commitment to Africa, in empowering African entrepreneurs. “At TICAD 2016 in Kenya, Japan […]
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The Federal Government of Nigeiran has generated the sum of N311.94 billion from Value Added Tax (VAT) in the second quarter of 2019. The National Bureau of Statistics (NBS) disclosed this in a report titled ‘Sectoral Distribution Of Value Added Tax (Q2 2019)’ published on Tuesday. In the report, the figure generated in the Q2 […]
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Tony O. Elumelu, Founder of the Tony Elumelu Foundation and the Chairman of the United Bank for Africa (UBA), will speak at the Seventh Tokyo International Conference on African Development (TICAD), taking place in Yokohama, Japan from August 28 – 30, 2019. As the leading champion of entrepreneurship in Africa, Mr. Elumelu will ensure that […]
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The Central Bank of Nigeria (CBN) has reached an agreement with commercial banks in the country, to settle customer’s loan defaults with deposits other banks. Speaking with journalists after the Bankers Committee meeting on Monday, Aishah Ahmad, CBN’s deputy governor, financial services system, said the directive is to encourage banks to increase lending. “We are not […]
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The Federal Inland Revenue Service (FIRS) says it will impose value-added tax (VAT) on online transactions, both domestic and international, with effective from January 2020. This disclosure was made on Monday by FIRS executive chairman, Babatunde Fowler, at the African Tax Administration Forum (ATAF) technical workshop that held in Abuja. Mr. Fowler said a lot […]
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Dynamics Intelligence, a global company operating in the United States, Canada, and Nigeria, has shut operations in Africa’s most populous nation over alleged fraudulent practices by its employees and contractors. However, Nigerians have come down hard on Jenna Bourgeois, chairman of Dynamics Intelligence, for giving the impression that some of his employees in the country are […]
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The U.S. Department of Energy’s (DOE) Office of Fossil Energy (FE) on Thursday announced it would sell crude oil from the Strategic Petroleum Reserve (SPR). The DOE plans to draw down crude oil from three SPR sites, including, Bryan Mound and Big Hill in Texas and West Hackberry in Louisiana. According to the DOE, it […]
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The Nigerian Stock Exchange (NSE) wednesday delisted Skye Bank Plc and Fortis Microfinance Bank Plc following approval from the National Council of the exchange. In a notification to market operators, the NSE said the delisting which was pursuant to Clause 15 of the General Undertaking , Appendix 111 of the the Rule Book of the […]
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A FEDERAL High Court in Lagos has ordered the Asset Management Corporation of Nigeria (AMCON) and United Bank for Africa (UBA) to seize a property of former Cross River State Governor Donald Duke over an alleged N537,334,360.77 debt. Vacation judge Justice Chuka Obiozor also authorised AMCON and UBA to, in the interim, take possession of […]
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By Oluwafunke Ishola The Chartered Institute of Bankers of Nigeria (CIBN) is poised to enhance digital banking and financial inclusion for robust economic growth. Mr Peter Ashade, the Chairman, CIBN Lagos chapter disclosed this at a media briefing on Wednesday in Lagos. According to Ashade, digital banking has become strategic in enhancing the economy, particularly […]
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