High interest rates, unfavourable economic climate and insufficient power supply have been identified as the major constraints to businesses in the country.
The Statistics Department of the Central Bank of Nigeria said these in its ‘January 2020 business expectations survey report’.
Part of the report read, “Respondent firms identified insufficient power...
United Bank for Africa Plc has introduced a product called UBA Connect to deepen intra-African trade and enable customers to make cash withdrawals in local currencies
A statement said the service would enable customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African...
The equities market opened the week with N112bn gain as 16 gainers emerged, led by MTN Nigeria Communications Plc, whose share price increased by 10 per cent on the back of the revocation of its $2bn tax case in Nigeria.
The Attorney General of the Federation, Abubakar Malami, had dropped...
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...
