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Business

Sanwo-Olu VAT bill into law

Lagos Signs VAT Bill into Law

September 10, 2021
By Adedapo Adesanya The Lagos State Governor, Mr Babajide Sanwo-Olu, has signed into law a bill empowering the state government to collect Value Added Tax (VAT). The Commissioner of Information and Strategy in Lagos, Mr Gbenga Omotoso, in a statement, said Mr Sanwo-Olu signed the VAT bill into law on Friday, September 10. “The Governor signed the bill for a
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Stock Market Newspaper

Stock Market Loses N146bn Friday as Investors Pull Out

September 11, 2021
By Dipo Olowookere The stock market in Nigeria further lost N146 billion on Friday to profit-taking as investors continue to pull out from the space as a result of rising interest rates at the fixed income environment. Since the beginning of this week, investors have been showing less appetite for equities and the decision of the Central Bank of Nigeria
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crude oil market

Oil Bullish over US-China Call, Supply Disruption

September 11, 2021
By Adedapo Adesanya Bullish sentiment pushed oil prices up on Friday as a combination of supply disruptions and an apparent compromise between the United States and China gave the markets hope. Brent crude gained $1.34 or 1.88 per cent yesterday as it traded at $72.82 per barrel, while the US West Texas Intermediate (WTI) moved up by $1.49 or 2.17
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Black Market

Naira Plunges Further to N545/$1 at Black Market

September 11, 2021
By Adedapo Adesanya The headwinds continued to knock down the Naira at the black market segment of the foreign exchange (FX) market with the local currency crashing against the US Dollar by N5 to N545/$1 from the previous day’s rate of N540/$1. The forex market in the country is under pressure as the high demand for foreign currencies a shortage
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Unlisted Equities

Nigeria’s Unlisted Equities Recover 1.27%

September 11, 2021
By Adedapo Adesanya The last trading session of the week on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note on Friday with a growth of 1.27 per cent. The rebound was inspired by three of the unlisted equities; Central Securities Clearing Systems (CSCS) Plc, NASD Plc, and Nigerian Exchange (NGX) Group Plc. CSCS Plc
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Politics

weakening Naira

Apprehension as Naira Weakens Further to N1,308/$1 at Official Market

April 25, 2024
By Adedapo Adesanya Apprehension increased on Wednesday in the Nigerian Autonomous Foreign Exchange Market (NAFEM) as the Naira continued to erase some of its gains after it fell further by 0.6 per cent or N8.7 against the US Dollar to exchange at N1,308.52/$1 versus the preceding day’s value of N1,300.15/$1. Also, the Naira suffered a loss against the Pound Sterling,
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Travel

Latest

NSE Approves May & Baker Nigeria’s N2.45b Rights Issue

By Modupe Gbadeyanka The board of May & Baker Nigeria Plc has received the regulatory approval it sought for the issuance of the N2.45 billion rights issue. The Nigeria’s first pharmaceutical company had written to the stock market regulator to raise the
September 16, 2018

NDIC Calls for Sound Corporate Governance in Banking Sector

By Modupe Gbadeyanka The need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry has been emphasised by the Nigeria Deposit Insurance Corporation (NDIC). The recent involvement of
September 16, 2018
fintechs

Cyber Security Biggest Threat to FinTech Revolution—Bajomo

By Modupe Gbadeyanka The biggest threat to financial technology (FinTech) revolution has been identified by the Executive Director of Access Bank Plc in charge of Information Technology and Operations, Mr Ade Bajomo. According to the former senior staff of the Nigerian Stock
September 16, 2018

StarTimes Secures Exclusive Rights for UEFA Europa League

By Modupe Gbadeyanka As part of its determination to bring the best sport content to its subscribers, leading pay-TV operator in Nigeria, StarTimes, has obtained exclusive broadcasting rights to air UEFA Europa League matches in Sub-Saharan Africa until 2021. With this, StarTimes
September 16, 2018
Nigerian farmers BOA

NEXIM Bank Offers N1b Loan to Farmers in Katsina

By Modupe Gbadeyanka A credit facility worth N1 billion has been given to Kastina State government for disbursement to farmers in the state. This loan was provided by the Nigeria Export-Import Bank (NEXIM) for the development of an “export-worthy agricultural product” and
September 16, 2018

Audits Help Organisation Function Better—Ayine

By Modupe Gbadeyanka Nigeria’s Auditor-General, Mr Anthony Ayine, has stressed the importance of auditing an organisation, saying it improves performance of the entity. Speaking on Friday in Abuja when he paid a courtesy visit to the Director General of the National Identity
September 16, 2018

HSBC, Looters Ruined Nigeria’s Economy—Presidency

By Modupe Gbadeyanka Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Mr Garba Shehu, has accused global banking giant, HSBC, of not being happy with the anti-corruption campaign of the present administration. Mr Shehu made this allegation in a
September 16, 2018
mastercard

MasterCard Track to Make Ease of Doing Business Easier

By Dipo Olowookere A new innovation has been introduced by leading payment platform, MasterCard, to make ease of doing business easier. The new initiative called MasterCard Track™ was launched on Wednesday, September 12, 2018 in collaboration with Microsoft. Track is a unique
September 16, 2018
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