NGX Mulls Ways to Create Access for Diaspora Investments

By Modupe Gbadeyanka Taxpayers, including organisations and individuals, who are yet to pay their outstanding taxes, will not pay penalties and interests if they make the payments on or before December 31, 2023. This tax default forgiveness was given by the Federal Inland Revenue Service (FIRS), which explained that it created this window in “recognition of the challenges that many taxpayers have faced in settling their outstanding tax liabilities.” However, it stressed that if the full principal payment is not done before the deadline, defaulters would be forced to pay the outstanding tax liabilities. The Chairman of the FIRS, Mr

By Aduragbemi Omiyale An application and proprietary solution for micro, small and medium-sized enterprises (MSMEs) in Nigeria, known as Aleph Express, has been launched by Aleph Group. A statement from the firm explained that Aleph Express provides a platform for MSMEs to create and maintain a free e-commerce website, create a product catalogue, set local delivery options, manage, record and process orders while gaining meaningful insights to drive growth. The platform also provides one unified inbox that integrates WhatsApp, Messenger, and Instagram, to enable businesses to efficiently engage and sell – all in one place. In addition, Aleph Express provides

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Adedapo Adesanya New sports betting firm, BetBonanza, on Thursday unveiled ex-Super Eagles striker and former Assistant Manager of the Nigeria National Football Team, Daniel Amokachi A.K.A “The Bull” as its brand Ambassador. Mr Amokachi was introduced at the official press conference to a group of newsmen, bloggers and influencers during the brand launch in Lagos. The new brand ambassador, a former Everton Football Club of England player, informed journalists at the event that, “I am glad to join a company that believes in getting better. This is because getting better at whatever one does is a continuous process. My

By Aduragbemi Omiyale The merger between the Zambian subsidiary of Access Bank Plc and Cavmont Bank Limited is expected to take place before the end of this month. The top financial institution in Nigeria confirmed this on Wednesday in a statement issued to the Nigerian Stock Exchange (NSE), where it trades its securities. Last year, Access Bank said it was in merger talks with Cavmont Bank, a lender located in Lusaka, the capital of Zambia, which provides an array of banking services including in the areas of community banking, retail banking, investment, and corporate banking. Access Bank has never hidden

By Dipo Olowookere Investor sentiment was weak on the floor of the Nigerian Exchange (NGX) Limited on Thursday as traders struggled to regain their confidence in the bourse. This affected the local stock market indices, which were depressed by 0.02 per cent at the close of transactions due to sustained profit-taking, especially in large and mid-cap equities. The news of a billionaire businessman, Mr Femi Otedola, acquiring about a 5.5 per cent stake in Transcorp to become one of its largest shareholders could not lift the spirits yesterday. The development only triggered buying pressure on Transcorp stocks, which appreciated during

By Adedapo Adesanya The Nigeria Data Protection Commission (NDPC) has said the new directive by the Central Bank of Nigeria (CBN) to commercial banks that they should collect their customers’ social media handles is against the law. The National Commissioner of NDPC, Mr Vincent Olatunji, said this in a statement issued by Mr Itunu Dosekun, Head of Media, on Thursday in Abuja. The central bank, on June 26, directed banks to obtain the social media handles of customers as part of enhanced Customer Due Diligence (CDD) regulations. The move has drawn ire from Nigerians as well as Socio-Economic Rights and

By Dipo Olowookere The Debt Management Office (DMO) on Monday commenced the sale of the FGN Savings Bond subscription for the month of February for two-year and three-year to investors at 10.277 percent and 11.277 percent per annum respectively. The DMO is conducting the auctioning on behalf of the Federal Government of Nigeria. The savings bond gives Nigerians the opportunity to invest in the bond market for as low as N5000. Business Post reports that subscription for the bonds opens Monday, February 05, 2018 and ends on Friday, February 9, 2018. However, the coupon rates for the two papers are

By Adedapo Adesanya It was a good day on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Thursday as trading activities closed bullish by 0.02 per cent, thanks to Afriland Properties Plc. The gains by the property investment firm boosted the value of the unlisted stock market by N160 million at the close of business to N925.06 billion from N924.90 billion and raised the NASD Unlisted Securities Index (NSI) by 0.13 points to wrap the session at 704.00 points compared with 703.87 points in the previous session. Business Post reports that the stock price of Afriland improved by

By Modupe Gbadeyanka The science and technology landscape in Nigeria is set to receive a boost with the debut of SPAK National Science Competition. SPAK National Science Competition is a unique initiative aimed at igniting interest and promoting the study of science in secondary schools in Nigeria. The SPAK National Science Competition is strictly for students currently in the second year of their Senior Secondary School (SSS2) students aged 14 to 17. Over 10,000 students from about 2,000 senior secondary schools across Nigeria have already registered for the opportunity of taking part in the show. The Spak National Science competition

By Adeniyi Ogunfowoke Many of us have awesome and novel business ideas that never see the light of day. The truth is anyone can come up with an idea for a business, but it takes a lot of work to implement a plan of action. So, if you have an idea that you want to put into action in the near future, Jumia Travel, the leading online travel agency, shares tips to ensure that it becomes reality. Research the market You don’t want to dive into any market until you have a clear idea of the competition, where you fit