FIRS Gives Foreign Oil Shippers Deadline to Regularise Tax Books

Welcome to the fascinating world of cryptocurrency wallets, where technology is always developing and innovating. Blockchain technology and cryptocurrencies have revolutionized how we see and utilize money over the last ten years. Cryptocurrency wallets have been crucial in this transition, giving consumers the means to safely access, control, and use their digital assets. Let’s explore the exciting developments and trends that are predicted to completely alter the landscape of crypto wallets as we look to the future. Key Takeaways The environment of cryptocurrency wallets is changing quickly as a result of new trends and technologies. Future crypto wallets will prioritize

By Adedapo Adesanya The duo of Aradel Holdings Plc and 11 Plc landed the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.84 per cent on Monday, November 27. The two energy stocks overpowered losses posted by two other securities admitted to the alternative stock exchange, leaving the NASD Unlisted Security Index (NSI) closing higher by 7.22 points to 864.51 basis points from 857/29 points, as the market capitalisation of the exchange increased by N9.78 billion to N1.171 trillion from N1.162 trillion. Aradel Holdings Plc saw its share price continue to soar as it rose by N28.80 to

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Dipo Olowookere The positive momentum witnessed at the Nigerian Exchange (NGX) Limited continued on Monday with a 0.17 per cent leap at the close of business. Buying pressure, particularly in a few blue-chip equities, kept the bulls at Customs Street during the trading session, though the consumer goods space succumbed to profit-taking by 0.99 per cent. But hope was kept alive by the gains reported by the other key sectors of the market, with the banking counter growing by 1.71 per cent, and the industrial goods index appreciating by 0.01 per cent, while the insurance and energy sectors remained

By Adedapo Adesanya Ahead of Thursday, December 12 general election in the United Kingdom, the Pound Sterling had continued to gain against the Nigerian Naira. On Tuesday, December 10, the Naira depreciated further against the British currency at the black market in Nigeria to trade at N470/£1. At the segment of the foreign exchange market yesterday, the domestic currency lost N2 against the Pound to move from its previously traded rate of N468 to N470 at the close of transactions. It was learned that the British Pound climbed on Tuesday, with the expectation that the Conservatives led by Prime Minister

By Modupe Gbadeyanka A new report by the Ecobank Research team has revealed that Nigeria accounts for 90 percent of the Gross Domestic Product (GDP) of Anglophone countries in West Africa. Anglophone West Africa, which stretches from Gambia in the West to Nigeria in the East, covers six countries; Ghana, Guinea, Liberia, Nigeria, Sierra Leone and The Gambia and encompasses the West African Monetary Zone (WAMZ), which draws together the mostly English-speaking countries of West Africa. The Ecobank Research team in its newly published Anglophone West Africa section of its flagship financial website, AfricaFICC, said economic forecast for the region

By Dipo Olowookere The Debt Management Office (DMO) on Thursday finally listed the $3 billion Eurobonds and $300 million FGN Diaspora bonds on the Nigerian Stock Exchange (NSE). Director General of the DMO, Ms Pat Oniha, during the listing yesterday, disclosed that the bonds would be used by the Federal Government to finance infrastructure projects across the country. According to her, these projects are expected to transform the socio-economic landscape of the Africa’s largest economy. Ms Oniha, while engaging stakeholders on the ‘Facts Behind the Listing,’ explained that from the $3 billion Eurobond, government plans to use $2.5 billion to

By Modupe Gbadeyanka One of the leading firms with experienced investment management team, FSDH Research, has projected a growth of 3.16 percent for Nigeria. In its report released today, FSDH said this year, the nation’s real Gross Domestic Product (GDP) will increase by 3.16 percent in 2018 and 4.09 percent in 2019. “Our forecast for 2018 is slightly higher than the forecast of the World Bank and International Monetary Fund (IMF) of 2.5 percent and 2.1 percent respectively,” the report said. However, with the population growing at 2.75 percent, the country requires growth rate in excess of 5 percent to

By Adedapo Adesanya The Lagos State House of Assembly on Tuesday sworn-in a new member-elect, Mr Obafemi Saheed, as a lawmaker representing Kosofe Constituency II, sparking jubilation in his camp. Mr Saheeed won the December 5, 2020, by-election to replace the late Mr Tunde Braimoh, who died in July 2020. The Speaker of the House, Mr Mudashiru Obasa, said during the swearing-in ceremony that the Oath of Allegiance of Membership had been administered on the lawmaker-elect by the Head of the Legal Department of the assembly. The Speaker beseeched that Mr Saheed’s tenure would bring development to his constituency and

By Dipo Olowookere Renowned journalist and former Sunday Editor of the Nigerian Compass, Mr Dotun Oladipo, has emerged President of the Guild of Corporate Online Publishers (GOCOP). Mr Oladipo was elected President of the Guild after a poll held on Wednesday at the Adna Hotel, GRA, Ikeja, Lagos. He and other newly elected members of the executives of GOCOP were inaugurated the next day at the 1st annual conference of the Guild held at the Renaissance Hotel, also in Ikeja, Lagos. Mr Oladipo publishes the popular online news platform called The Eagle Online. He will lead the group for the

By Dipo Olowookere One of the underwriting companies in Nigeria, International Energy Insurance (IEI) Plc, has explained the reason its audited financial statements for the 2019 accounting year have not been released. In a notice on Wednesday, the company attributed the delay to the ongoing restructuring exercise aimed at making its operations better. However, the firm has promised to ensure things are done properly and get the audited results filed to the Nigerian Stock Exchange (NSE). In the disclosure, the underwriter said it should get the documents submitted for perusal by the investing community on or before October 30, 2020.

By Adedapo Adesanya The Senate Committee on Trade and Investment has asked the federal government to concession the Eleme-Onne axis of the East-West Road to private investors for reconstruction and management. This was made known by the Chairman of the Committee, Mr Francis Fadahunsi, during a visit to the Oil and Gas Free Zone in Onne, Rivers State, where they raised the issue of the deplorable road as a key transport route for the nation’s economy. Mr Fadahunsi, who led members of the committee to tour the free zone, described Onne Free Zone as a successful initiative in a public-private