Business
Oil Prices Surpass $83
Oil prices hit a multi-year high on Wednesday above $83 a barrel, its highest level since 2018. The price jump was supported by OPEC+’s refusal to ramp up production more rapidly. However, the market later […]
Business
Business
Air Peace Resumes Flights To South Africa — After Three Months Suspension
Air Peace has announced the resumption of flight operations from Lagos to Johannesburg, South Africa. The airline had, in June, suspended flights on the Lagos-Johannesburg route in line with the federal government’s travel restriction. Nigeria […]
Business
Cassava Peels As Maize Substitute In Poultry Production By Gbenga Akinfenwa
As the cost of poultry and animal feeds increases daily, many farms and hatcheries have been forced to halt their operations. Sourcing of feed raw materials, especially the main ingredient – maize was identified as […]
Business
Cassava Peels As Maize Substitute In Poultry Production By Gbenga Akinfenwa
As the cost of poultry and animal feeds increases daily, many farms and hatcheries have been forced to halt their operations. Sourcing of feed raw materials, especially the main ingredient – maize was identified as […]
Banking
UBA Publishes Names, Account Numbers of ‘Forex Policy Defaulters’
The United Bank of Africa (UBA) has published names and account numbers of some customers alleged to have violated the forex policy of the Central Bank of Nigeria (CBN).Advertisement The CBN had directed Deposit Money Banks […]
Business
Paystack: Nigerian Businesses Can Now Accept Int’l Payments Via Apple Pay
Paystack, African online payment firm, has launched Pay with Apple Pay — a new payment channel that lets users accept international payments quickly from millions of Apple Pay users — on its platform. This development […]
Business
Eystone Development Launches Gemstone Estate
Eystone Development, a property investment company in Lagos, recently launched its new Estate — Gemstone Estate. The launch, which took place on the 12th of August 2021 at Gemstone Estate, Idado, Ibeju Lekki had realtors, […]
Business
Buhari, Kagame, Osinbajo Seek Supportive, Inclusive Financial System By Geoff Iyatse
President Muhammadu Buhari, his Rwandan counterpart, Paul Kagame; Vice President Yemi Osinbajo and Lagos State Governor, Babajide Sanwo-Olu, yesterday, made a strong case for a financial system that works for all. Speaking at the ongoing […]
Business
EXPLAINER: How VAT Collection By States May Affect Businesses
Rivers and Lagos state governments have implemented a law empowering them to collect value-added tax (VAT) from businesses other than the Federal Inland Revenue Service (FIRS). This comes after the federal high court in Port […]
Business
FG, Lagos Set For Confrontation Over Imposition of VAT On Imports By Wasilat Azeez
Tax on imports provided by the Lagos state’s value-added tax (VAT) law may prove to be the next point of contention between the state and the federal governments. On Friday, Babajide Sanwo-Olu, governor of Lagos, […]
Business
Amid VAT Uproar, States Sue FG Over Sharing of Stamp Suties
Amid raging controversy over the collection of Value Added Tax (VAT), the subtle campaign for restructuring through fiscal federalism was raised a notch higher, yesterday, as Attorneys-General of the 36 states pushed the envelope by […]
Business
Court Freezes Bamboo, Risevest Accounts On CBN’s Request; Firms React
A federal high court in Abuja has ordered the freezing of the accounts of six online investment firms following a request by the Central Bank of Nigeria. The accounts will remain blocked for 180 days, […]
Business
Report Ranks Nigeria 2nd Poorest In Food Affordability
A new report by the Institute of Development Studies, a UK-based think tank, has placed Nigeria as the second poorest country in the world in terms of food affordability. The report, which was compiled through […]
Business
Despite ‘Self-Sufficiency’ Claim, Nigerians Battling With Soaring Price of Rice By Gbenga Akinfenwa
The declaration by the President of the Rice Farmers Association of Nigeria (RIFAN), Aminu Goronyo, few weeks back, that the country is now self-sufficient in rice production, could be perceived as a soothing balm to […]
Business
To Plug Leaky Reserves, CBN Stops Forex Sales To BDCs
IN its continuous efforts to shore up foreign reserves and stabilise the value of the naira, the Central Bank of Nigeria (CBN) on Tuesday discontinued the sale of foreign exchange to bureau de change (BDCs) […]
Business
Facts About Nigeria’s Food Inflation – Survey
Low, fixed-income earners and unemployed Nigerians are in for trouble as living under the burden of higher food prices has become unbearable, as a result of grossly inadequate food supply. This follows years of neglect […]
Business
BUSINESS ANALYSIS: CBN’s N100bn Fund As Catalyst For Health Sector Development
IN the 1960s, Nigeria was a medical tourism destination with the University College Hospital (UCH), Ibadan, offering a range of specialised health care services. Then, It ranked third best hospital in Africa. However, the health […]
Business
CBN Restricts Sugar Importation To Flour Mills, Dangote, BUA By Haleem Olatunji
The Central Bank of Nigeria (CBN) has restricted the importation of sugar to three companies due to their backward integration programmes. The companies are Dangote Sugar Refinery Plc, BUA Sugar Refinery Limited, and Golden Sugar […]
Business
FCMB Appoints Yemisi Edun To Replace Adam Nuru As MD
The board of directors at FCMB Group Plc have announced the appointment of Yemisi Edun as the managing director and chief executive officer of its largest subsidiary, First City Monument Bank Limited. The announcement was […]
Business
The Beginning of The End For Big Oil | CNN
After a pandemic and a price war sent petroleum prices tumbling in 2020, they are again on the rise. A new oil price super cycle — an extended period during which prices exceed their long-term […]