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Naira sustains fall at parallel market
The value of Naira on Thursday dipped further at the parallel market in Lagos against the dollar. It lost N6 from N562 traded on Wednesday to exchange at N568 to the dollar, while the Pound Sterling and the Euro closed at N774 and N660, respectively. Trading at the official Investors and Exporters window saw the […]
CSOs need to register for tax, obtain TIN – FIRS
The Federal Inland Revenue Service (FIRS) has said that all Civil Society Organisations (CSOs) are expected to register for tax purposes and obtain Taxpayer Identification Number (TIN). Mr Temitayo Orebajo, Director, Tax Policy and Advisory Department of FIRS, said in Abuja on Thursday at a webinar on CSOs tax responsibilities and compliance. He said the […]
US-based Nigerian launches electric vehicles into African market
Dr Oluleye Adigun, a US-based Nigerian, has declared readiness to open the African market to the electric vehicle industry through a new company called FLUX. Adigun said FLUX vehicles are designed to be very adaptable to customers tastes and needs. He said that FLUX electric vehicles would be assembled in Ghana, while its lithium battery […]
Filling stations resume sale of petroleum products in Imo
Filling stations in Imo have resumed the sale of petroleum products following the suspension of an industrial strike embarked upon by the Petroleum Tanker Drivers Association in the state. Mr Okechukwu Okoro, Zonal Controller of the Department of Petroleum Resources (DPR) in Owerri, confirmed this to newsmen while conducting a surveillance on filling stations on […]
Sea piracy drops by 80% on Nigerian waters – NIMASA DG
The Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, says sea piracy has declined by 80 per cent in Nigeria’s territorial waters. Jamoh disclosed this in a statement signed by Mr Tunde Olalere, Secretary, Lagos State Council of the Nigeria Union of Journalists (NUJ) on Thursday. The D-G stated this when […]
Governors back state in VAT collection
Governors of Southern Nigeria have expressed their support for the collection of Value Added Tax (VAT) by state governments. Gov. Rotimi Akeredolu of Ondo disclosed this while reading a communique at the end of a meeting of the Southern governors on Thursday in Enugu. Akeredolu said that the Southern governors resolved and affirmed the position […]
FMDQ Exchange admits Eunisell Limited’s Series-1 CP
FMDQ Securities and Exchange Limited (FMDQ Exchange) has admitted quotation of the Eunisell Limited N3.50 billion Series 1 Commercial Paper (CP) under its N10 billion CP Programme on its platform. The Managing Director, Eunisell Limited, Mr Chika Ikenga, disclosed in a statement on Thursday in Lagos. Ikenga said Eunisell Limited CP would be availed a […]
FAO moves to transform agri-food system
The Food and Agriculture Organisation of the United Nations (FAO) says it will transform agric-food system in line with the 2030 agenda and its Sustainable Development Goals (SDGs) QU Dongyu, the FAO Director-General, said this in a statement issued to newsmen on Thursday in Abuja. He said that FAO had entered a new era with […]
CBN established Financial centre to promote financial hub
The Central Bank of Nigeria (CBN) will establish Nigerian International Financial Centre (NIFC) to effectively launch the country to join a very small elite group of countries operating an international financial hub. The international financial centre will take in September 2022. Central Bank of Nigeria(CBN) Governor Godwin Emefiele disclosed this in Abuja on Tuesday at […]
Access bank launches $500m Eurobond
Access Bank has launched $500 million 144A/RegS Senior Unsecured Eurobond, as part of its Global Medium-Term Note Programme. The launch notification was announced by the Nigerian Exchange Limited (NGX), in a statement signed by the company’s secretary, Sunday Ekwochi. The transaction recorded a massive interest from top quality investors globally, including the United States, Europe, […]
Finance Corporation in trade deal agreements
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has signed ten major Trade Financing Agreements worth more than US$1.2 Billion. It also signed Trade Development Agreements with its member countries from Asia and Africa, at the 46th IsDB Annual Meeting of the IsDB Group held in Tashkent, Uzbekistan earlier […]
DPR targets N3.2trn revenue in 2021
The Department of Petroleum Resources (DPR) has predicted that its revenue by December 2021 would hit N3.2 trillion having achieved 70 percent of the target. The Director of DPR) , Mr Sarki Auwalu, reported when he led a delegation of DPR management team to the Executive Secretary of Petroleum Technology Development Fund (PTDF), Mr Bello […]