Business

Nigeria crashes food importation by 60%

Nigeria crashes food importation by 60%

Business November 13, 2018 at 10:07 am 0 comments

Nigeria has succeeded in reducing the importation of food items by 60 per cent from 2015 to date, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, reported.
Emefiele said that the government, in the process, saved $800 million.
The

Read more ›
Dangote: AfCFTA Will Fail Unless African Countries Encourage Industrialization

Dangote: AfCFTA Will Fail Unless African Countries Encourage Industrialization

Business November 9, 2018 at 8:50 am 0 comments

Africa’s richest man and President of Dangote Group, Aliko Dangote, has said the African Continental Free Trade Area (AfCFTA) agreement signed on by most African countries will fail except they start massive productions of goods on African soil.
It will be recalled that Forty-four African countries had already signed up

Read more ›
Stable exchange rate best choice for Nigeria – Emefiele

Stable exchange rate best choice for Nigeria – Emefiele

Business October 14, 2018 at 4:12 pm 0 comments

The Central Bank of Nigeria governor, Mr Godwin Emefiele , says maintaining stable exchange rate to avoid depreciation of the Naira is better than building foreign reserve buffers.
Emefiele told newsmen on Sunday that this was part of the outcome of the Nigerian delegation ’s meetings with investors and institutions

Read more ›
Singapore fines Grab, Uber $9.5m over merger

Singapore fines Grab, Uber $9.5m over merger

Business September 24, 2018 at 7:38 am 0 comments

Singapore on Monday fined ride – hailing firms Grab and Uber $ 9 . 5 million for breaking competition rules when they merged, saying the deal had increased fares and thrown up roadblocks for competitors .
Singapore – headquartered Grab agreed to buy US firm Uber’ s ride – hailing

Read more ›
FIRS Goes After 6,700 Billionaire Tax Defaulters

FIRS Goes After 6,700 Billionaire Tax Defaulters

Business September 10, 2018 at 6:34 pm 0 comments

The Federal Inland Revenue Service (FIRS) has identified more than 6,772 billionaires’ tax defaulters whose bank accounts have been screened.
The tax agency would soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes.
Mr. Tunde Fowler, FIRS Chairman,

Read more ›
Insurance companies, banks to issue integrity bond to contractors

Insurance companies, banks to issue integrity bond to contractors

Business July 30, 2018 at 7:53 am 0 comments

INSURANCE companies and banks are to issue fiduciary bonds, also known as, integrity bonds to contracts for infrastructure projects, consultancy engagements and so on.
Vice-President, Yemi Osinbajo, who disclosed this at a breakfast meeting in Abuja, with the theme, ‘Rethinking Business Conduct and Practices: A Sustainable Concept to Transforming Nigeria’s

Read more ›