Zainab Ahmed, minister of finance, says owners of yachts and private jets will begin paying luxury items from 2019. Addressing a press conference in Abuja on Monday, the minister said excise duties would be introduced in some areas while taxes would be reduced for small and medium enterprises. “We are exploring the way to increase […]
Continue Reading
Gionee has officially entered bankruptcy. A court in Shenzhen has accepted the bankruptcy application, which will now put the company at a crossroads. As of August, Gionee owes ¥20.2 billion, which is roughly around $2.9 billion USD, to 648 creditors. Despite this immense amount being owed, the founder of Gionee, Liu Lirong, states that he’d […]
Continue Reading
Determined to create the largest bank in Africa, Access Bank Plc on Wednesday said it had finalised plans to issue 250 million dollars Tier 11 capital in January 2019. Herbert Wigwe, the bank’s the Chief Executive Officer, said this at a news conference by Access Bank Plc and Diamond Bank Plc on details of the […]
Continue Reading
Amid reports on Monday about merger plans between Access Bank and Diamond Bank, the capital market regulatory authority, the Securities and Exchange Commission (SEC), has given clarification on the current situation. The commission, in a statement by its spokesperson, Efe Ebelo, sent to PREMIUM TIMES said only a notice to merge has been received from […]
Continue Reading
Popular online newspaper, TheCable, has reported that Access Bank has finally acquired Diamond Bank. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN). The acquisition was midwifed by the CBN in a bid to further consolidate the banking industry, […]
Continue Reading
Desarrollar Limited a lifestyle and leading real estate solutions company in Lagos, Nigeria has partnered with Union Trustees Limited, First Bank Trustees Limited and Banwo & Ighodalo and The Lodt Legal Partners to improve real estate services and solutions. The partnership which was signed on Monday, in Lagos, will unveil Nigeria’s most secure and institutionalized […]
Continue Reading
As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim today, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company. Heirs Holdings has significant investments across Africa, in the financial services, […]
Continue Reading
Mr Niyi Ajao, Managing Director, Nigeria Inter Bank Settlement System (NIBSS), says one million bank accounts are opened monthly by Nigerians as the nation’s financial inclusion rate increased to 63.6 per cent from 45.4 per cent recorded in 2016. Ajao made the disclosure at the launch of the 2018 Financial Inclusion Survey by Enhancing Financial […]
Continue Reading
Vice President, Prof. Yemi Osinbajo, will address a group of notable German business leaders in Berlin, Germany, on Monday, the Presidency said in a statement on Sunday. In a statement in Abuja, Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice-President, said that Osinbajo would speak on the […]
Continue Reading
The Federal government said oil marketers would be paid N236 billion out of N348 billion approved by the National Assembly as outstanding subsidy claims on Friday, December 14. The Chief Operating officer, Nigerian National Petroleum Corporation (NNPC) Downstream, Henry Ikem-Obih, disclosed this to journalists in Abuja on Saturday. “The Debt Management Office (DMO) will by […]
Continue Reading