Browsing Category
Business
NDIC Begins Payment of Liquidation Dividends to Depositors, Stakeholders in 14 Closed Banks
The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to commence payment of liquidation dividends to uninsured depositors, creditors and shareholders of additional 14 banks in-liquidation.
In a release by the…
Edo Modular Refinery ready to begin operations – Obaseki
The Edo State Governor, Mr. Godwin Obaseki, on Friday, said the Edo Modular Refinery being developed by Edo Refinery and Petrochemical Company Limited (ERPC) with support from the Edo State Government, in Ologbo, Ikpoba - Okha…
FG Will Tax Profits Made By Twitter, Google In Nigeria — Osinbajo
Legal provisions will be utilised to collect taxes on profits made locally by global technology and digital firms not based in Nigeria, but with significant economic presence in the country.
Vice President Yemi Osinbajo stated…
Adesina: Nigeria, others lose $110bn annually to inefficient power supply
The Executive Director, Sahara Group, Kola Adesina, has called on various stakeholders to promote energy access in Africa, as lack of energy costs Nigeria and other African countries over $110 billion annually.
He also urged the…
Buhari regime borrows $2.02bn from China in six years – DMO data shows
Data obtained from the Debt Management Office has revealed that President Muhammadu Buhari’s administration has borrowed $2.02bn as loans from China from 2015.
According to the statistics obtained from the DMO, Nigeria’s total…
Naira falls by 51.95% despite CBN’s defence measures
The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of Nigeria to strengthen…
Economy sustains recovery with 0.51% GDP growth in Q1 2021
Nigeria’s economy appears to be on sustained recovery from recession as the Gross Domestic Product (GDP) grew by 0.51% (year-on-year) in real terms in the first quarter of 2021 (Q1’21).
This marks two consecutive quarters of…
VAT increases by N41.7bn in Q1 2020 says NBS
Value Added Tax (VAT) increased by N41.7 billion to N496.39 billion in Quarter One of 2021 as against N454.69 billion generated in Quarter Four of 2020 and N324.58 billion generated in Q1 of 2020.
The National Bureau of…
Bitcoin loses market share
Ethereum is giving Bitcoin, the world’s most popular cryptocurrency, a hard chase in the crypto market.
Ethereum is now valued at $3,000 and makes up 15 per cent of the crypto market, according to tracker CoinGecko.
Bitcoin is…
CBN: External reserves lost $350m in two weeks
The country’s external reserves lost $350m in two weeks, falling to $34.9bn on April 29 from a high of $35.25bn as of April 16, a report from the Central Bank of Nigeria has revealed.
Figures obtained from the apex bank showed…