FIRS Collects N2.5tr as Tax in 6 Months, Meets 75% Target for 2018

By Precious Olisa This news may not be palatable to developers and Nigerians planning to start a building project, as the Cement Producers Association of Nigeria has warned that the price of a 50kg bag of cement may start selling for N9,000 when the dry season begins in November. At the moment, the product is sold at over N5,000. In a statement jointly signed on Sunday by the National Chairman of the group, Mr David Iweta, and its National Secretary, Mr Ufomba, the manufacturers said the rise in the price of cement would be caused by the decision of the

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Ezedi Udom The digital economy pre-corona virus disease (COVID-19) pandemic was embraced largely by glamorous people who were being driven by a lifestyle of sophistry. So, it was more of a status symbol, a show practice than a necessity. Despite the various promotional campaigns that pointed to the unlimited products, convenience and the cost-saving attributes of the digital economy, it was only seen as some novel and problematic concept that put people at unnecessary risk. Then came the COVID-19 pandemic and its various restrictions – the social distancing and shelter-in-place restrictions (lockdown), as well as the economic lockdown that

Phillips Consulting will, on July 3, 2019, hold its annual digital learning roundtable. This year’s event will expand the conversation on digital transformation with a focus on how organisational leaders can raise digital intelligence in their workplace. In a statement by Modupe Thomas Owoseni, managing consultant in PCL’s digital learning & technology practice, “digital transformation is not just about technology, but also a people-centric initiative.  Therefore, for any organisation to stay relevant in the knowledge economy, they need to empower their employees with the right skill to align with the demands of the current wave of digital disruption”. On his

By Adedapo Adesanya Following the January 15 signing of Phase One trade deal between the United States and China, the Asian giant has announced slashing tariffs on US imports worth $75 billion by 50 percent with effect from February 14. The Chinese Ministry of Finance disclosed on Wednesday in a statement that retaliatory tariffs on hundreds of goods from the US will be halved from 10 percent to 5 percent or from 5 percent to 2.5 percent The decision was carried out in reciprocation for the President Donald Trump administration’s plan, announced last month, to halve tariffs on about $112

By Dipo Olowookere President Muhammadu Buhari has appealed to Nigerians to be patient with his administration on the issues of security, corruption and the economy. When Mr Buhari was sworn-in as President of Nigeria in 2015, he said his administration will make the country safer, revive the economy and fight corruption that has taken the nation backwards. But the promises he made to Nigerians have not been fulfilled as his government has been accused of massive corruption with the economy going into recession two times in four years. In 2016, just a year after he assumed office, the economy slipped

By Dipo Olowookere Properties worth millions of Naira and money worth billions of Naira have been lost to First Bank by a businessman and owner of SmartMicro, Mr Michael Obasuyi Osasogie. The items, which include a total of 116 cars and 20 landed properties scattered in Edo, Rivers and Lagos States, were seized by the Economic and Financial Crimes Commission (EFCC) and handed over to the financial institution on Wednesday, November 28, 2018. Trouble began for Mr Osasogie after a petition he wrote to the anti-corruption agency against E-tranzact in March 2018. The commission had, however, investigated Mr Osasogie’s business

Ecobank Nigeria has launched a new fully-integrated consumer advertising campaign called ‘Move on Up’. This is centred on its drive to ensure that consumers have world-class accessible and convenient digital banking solutions across the country. Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated (ETI), is currently present in 36 African countries. Ecobank Nigeria currently operates a consolidated online, real time branch network in over 450 locations across the country. Ecobank Nigeria’s Managing Director, Charles Kie said, “We are delighted to be launching this campaign in Nigeria. Ecobank Nigeria has grown consistently over the years to become a well-recognised corporate brand

By Dipo Olowookere Last Thursday, treasury bills worth N263.37 billion matured through both the primary and second markets. But this week, investors would anticipate T-bills worth N226.68 billion maturing at the secondary market. This, according to analysts at Cowry Asset, is expected bring about a sustained ease in financial system liquidity with accompanying moderation in interbank rate. It was learnt that last week, the Central Bank of Nigeria (CBN) auctioned treasury bills worth N58.50 billion via the primary market; viz: 91-day bills worth N5.85 billion, 182-day bills worth N29.25 billion and 364-day bills worth N23.40 billion. However, their respectively spot

By Modupe Gbadeyanka An Executive Director of Lafarge Africa Plc, Mrs Adepeju Adebajo, has resigned from her position to pick a job in the Governor Ibikunle Amosun administration. Mrs Adebajo was appointed by Mr Amosun as Commissioner for Agriculture in Ogun State and she is expected to use her experience to revamp the agricultural sector in the state. Announcing her resignation, Lafarge Africa Plc said it would miss the services of Mrs Adebajo, but wished her well in her new position. “The Board and Management congratulate Mrs Adebajo on her new appointment and call to service and are grateful to