Business

Kunle Sanni the Presidential Fiscal Policy and Tax Reforms Committee has said it is developing a new tax relief system that will benefit 95 per cent of the country’s informal sector. The chairman of the committee, Taiwo Oyedele made this announcement during the committee’s closing session in Abuja on Saturday. He noted that the new system would ensure the informal…

The management of Dangote Cement Plc., Ibese Plant has assured that it would continue to complement the efforts of the Ogun State Government in the development of its host communities through capacity building for the people, especially the youths. The company said it’s committed to development for the prosperity of the people and host communities by placing a premium on…

As part of its Corporate Social Responsibility (CSR) initiatives, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and First Exploration & Production Limited (First E&P) Joint Venture (JV) have donated the sum of N53 million to non-governmental organisations (NGOs) in Nigeria. Under the JV’s Impact First Initiative, the donation, targeted towards enhancing societal welfare, would address areas such as good…

By Innocent Raphael In a bid to fortify the bond between operators and air passengers, the Nigeria Civil Aviation Authority (NCAA) has pledged its unwavering commitment to enhancing consumer protection within the aviation sector. Director of Public Affairs and Consumer Protection, Mr Michael Achimugu, made the commitment during the recent Consumer Protection Stakeholders’ Consultative Meeting held at the NCAA Lagos…

The Nigerian National Petroleum Company Ltd (NNPC Ltd.) stated that it will continue to invest in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria. The Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, disclosed this at the ongoing Offshore Technology Conference (OTC), on Tuesday in…

In line with the disclosure requirements of the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), Access Holdings Plc  has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of  Access Bank, its flagship subsidiary. This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.…

…calls for more stakeholder consultations… By Innocent Raphael In response to the recent directive from the Central Bank of Nigeria (CBN) imposing a 0.5 percent cybersecurity levy on electronic transactions, the Lagos Chamber of Commerce and Industry (LCCI) has called for its withdrawal. The levy, set to be deducted from customers’ electronic transactions by banks, has sparked concerns among stakeholders.…

Lagos State Government is currently wooing foreign investors at the ongoing US-Africa Summit in Dallas, Texas, United States of America. The state government erected a booth where it is showcasing investment opportunities. Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem addressed foreign investors, in company of Special Adviser to the President of BOAD, Mr. Ibrahima Diouf,…

The Central Bank of Nigeria (CBN) has reviewed its directive on the repatriation of export proceeds by international oil companies (IOCs). In a circular on May 6, CBN said IOCs can repatriate 50 per cent of their export proceeds immediately or when required, while the remaining 50 per cent can be used to settle financial obligations in Nigeria. The circular…

Binance has revealed that some unknown persons in Nigeria demanded huge payments in digital currency to make their problems in the country “go away”. The firm’s chief executive officer (CEO), Richard Teng made the claim in a blog post on Tuesday. On February 28, the federal government detained two top executives of Binance as part of a probe bordering on…