Category: Business News
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FIRS introduces online naira tax-filing platforms
The Federal Inland Revenue Service (FIRS) has introduced a new Tax Administration Solution (TaxPro-Max) to ease tax compliance and modernise tax administration in the country. Dr Abdullahi Ahmad, Director, Communications and Liaison Department of FIRS disclosed this in a statement issued in Abuja on Saturday. Ahmad quoted the Executive Chairman, FIRS, Mr Muhammad Nami, as…
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Telcos, banks commence implementation of N6.98 service charge for each USSD transaction
Telecommunications companies and commercial banks in the country have commenced implementation of the N6.98 service charge for each USSD transaction. TheNewsGuru.com, TNG reports that many users of USSD services in the country started to see a notice of the charge on their phones on Friday. USSD is a critical channel for delivering financial services, especially…
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Ketron Investment Limited acquires Shoprite Nigeria
A deal has been reached in the acquisition of Retail Supermarkets Nigeria Limited, owner and operator of the Shoprite stores in Nigeria, by Ketron Investment Limited, a Nigerian company owned by a group of reputable institutional investors led by Persianas Investment Limited. The divestment by Shoprite International is in line with its strategy to change…
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Fidelity Bank doles out N150,000 each to 62 children to mark Children Day
Fidelity Bank remains committed to putting smiles on its customers’ faces by enriching their lives through its ongoing savings loyalty program. To mark this year’s Children’s Day, the bank doled out N150, 000 to 62 Sweet Account (SWEETA) holders across the country, a whopping total of N9.3 million. As part of its efforts to deepen…
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Naira crashes to almost N500 to US dollar
The Nigerian Naira has suffered two consecutive days of melt down in the unofficial market as it tumbles by about N17 for each dollar. The market had some semblance of stability for weeks, selling and buying at between N480-485. But the long suffering Nigerian currency moved south wards after the Central Bank published on Monday…
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JUST IN: CBN Retains Monetary Policy Rates At 11.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again voted to retain the monetary policy rate at 11.5 percent. The announcement was made by the CBN governor, Godwin Emefiele during a press briefing at the CBN headquarters on Tuesday. Emefiele speaking further on the decision of the MPC at the…
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Nigeria’s GDP records 0.51% growth in 2021 first quarter
Nigeria’s Gross Domestic Product (GDP) has recorded a growth of 0.51 per cent (year-on-year) in real terms in the first quarter of 2021. The National Bureau of Statistics (NBS) disclosed this in the latest Nigerian Gross Domestic Product Report released on Sunday. It noted that the new figure represented two consecutive quarters of growth following…
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IMF to give Nigeria, other African countries $33bn out of $650bn Special Drawing Rights
The International Monetary Fund (IMF) Managing Director, Ms. Kristalina Georgieva, Monetary Fund (IMF), has assured African leaders of $33 billion from the expected Special Drawing Rights (SDR) of $650 billion. She gave the assurance on Tuesday in Paris, France at the African Finance Summit hosted by French President, Emmanuel Macron, on post COVID-19 recovery. Georgieva…
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Untold story of how Hadiza Bala Usman allegedly violated all procurement laws
…ran NPA like a personal outfit …disregarded supervisory ministry …failed to remit N165bn into CRF …diversion of CSR to north-west states …need to use telescopic device to examine her five-year reign As Nigerians patiently await the findings of the 11-man panel set up to unravel the alleged scam perpetrated by the suspended former Managing Director…
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FG announces date for take off of new national carrier
The Minister of Aviation, Hadi Sirika, has announced that the new national carrier is expected to commence operation by the first quarter of 2022. Sirika disclosed this on Wednesday while addressing State House correspondents after the Federal Executive Council (FEC) meeting. He explained that the new national carrier is long overdue and the private sector-run…