Business

Only an angel can run NNPC honestly, says Sanusi

Only an angel can run NNPC honestly, says Sanusi

Business, Opinions June 9, 2018 at 12:56 am 0 comments

The Emir of Kano, Muhammadu Sanusi ( II ), says the subsidy regime in the Nigerian National Petroleum Corporation has compromised the corporation to the extent that only an angel may be able to run the corporation honestly.
Sanusi said this during

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Supreme Court Orders GTB To Pay N14bn To Innoson Vehicles

Supreme Court Orders GTB To Pay N14bn To Innoson Vehicles

Business June 8, 2018 at 7:52 pm 0 comments

The Supreme Court yesterday, admitted that Guarantee Trust Bank (GTB) should pay about N14bn illegal charges allegedly deducted from the account of Innoson Nigeria Limited, to a trustee account, pending the determination of the substantive matter.

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Naira weakens against dollar at parallel market

Naira weakens against dollar at parallel market

Business June 6, 2018 at 7:55 pm 0 comments

The Pound Sterling and the Euro closed N484 and N420, respectively at the market.
At the Bureaux De Change (BDC) window, the naira was sold at N360 to the dollar while the Pound Sterling and Euro closed at N484 and N420, respectively.
Trading at the investors’ window saw the naira

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Nigeria records $24.7bn forex inflow in three months

Nigeria records $24.7bn forex inflow in three months

Business, News June 3, 2018 at 1:00 pm 0 comments

The Nigerian economy recorded a total foreign exchange inflow of $24 .71 bn , figures obtained from the Central Bank of Nigeria have revealed.
The apex bank said the inflow was recorded as a result of the continued stability in the foreign exchange market promoted by improved dollar liquidity at

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Nigeria wants to stop being lax about tax

Nigeria wants to stop being lax about tax

Business May 27, 2018 at 9:30 am 0 comments

Paying income tax used to be a joke in Nigeria which, no wonder, has the worst tax to GDP ratio in sub-Saharan Africa.
As one banking executive put it: “In Nigeria, the government pretends to tax people and people pretend to pay. That’s the Nigerian social contract.”
But these days

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Hon. Minister Udo Udoma

Buhari yet to get 2018 budget from National Assembly

Business, News May 24, 2018 at 7:48 am 0 comments

President Muhammadu Buhari has yet to get a clean copy of the 2018 Appropriation Bill as passed into law by the two chambers of the National Assembly last week.
The Minister of Budget and National Planning , Udo Udoma , disclosed this to State House correspondents at the end of

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