Top billionaires across the world diversify their investments to countries with strong and rising currencies to avoid asset erosion. Aliko Dangote, Africa’s richest man, on Thursday disclosed plans to diversify his investments to the New York, United States. The billionaire will take office space in New York to help diversify his...
Telecommunications operators in the country have insisted that the voicemail service on mobile telephone lines does not require policy or regulatory intervention from the Federal Government or its agencies. The assertion by the telcos, under the aegis of Association of Licensed Telecoms Operators of Nigeria, followed an order issued by...
The World Bank has predicted that Nigeria’s economy will grow by 2.1 percent in 2020, adding that growth in the West African Economic and Monetary Union is expected to stabilise at 6.4 percent. The bank made the prediction in its January 2020 Global Economic Prospects which was released on Wednesday. Nigeria’s...
Equity investors have counted gains totalling N720bn as the stock market extended its gaining streak to the eighth consecutive day. The market capitalisation of equities rose to N13.316tn at the end of trading on the floor of the Nigerian Stock Exchange on Tuesday from N12.596tn on December 24, 2019. In the...
The Central Bank of Nigeria on Monday released the Nigerian Payments System Risk and Information Security Management Framework to guide the management of risks associated with the payments system in Nigeria. The framework which had already been approved by the apex bank became imperative in order to identify and address...
The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax. Currently, all companies are expected to pay the Federal Government 30 per cent of their profit as Companies Income Tax. However, the Minister of Finance, Budget...
Despite the directive of the Central Bank of Nigeria to merchants to stop the deduction of additional N50 on Point of Sales transactions, some outlets have yet to comply with the directive. Our correspondent who monitored the rate of compliance with the directive observed that many of the filling stations...
The Tony Elumelu Foundation (TEF), in collaboration with United Nation Development Programme (UNDP) has released the names of 2,100  entrepreneurs to benefit from the inaugural TEF-UNDP Entrepreneurship Programme. A statement explained that the programme targets small business owners in rural communities across the seven Sahel countries of Africa – Nigeria,...
The Nigeria LNG Limited says it has paid over $7bn as taxes and issued more than $15bn as dividend to the Federal Government since it started operations. NLNG’s Managing Director, Tony Attah, who disclosed this recently in Abuja, also stated that the company had the target of expanding its LNG...
Peak electricity generation on the national grid dropped by 292.4 megawatts between Monday and Tuesday, latest industry figures from the Federal Ministry of Power showed. It was also gathered on Wednesday that a fault involving an underground cable connecting 60MVA 132/33kV T3 and its grounding transformer in Kakuri power transmission...