Business
The rhythm of Nigeria's business world
Introduction:
Rising concerns grip Nigeria as the price of cooking gas skyrockets to unprecedented levels, with a kilogramme now fetching between N1,000 and N1,200. Daily Trust's investigative report delves into the root causes and far-reaching consequences of this alarming surge in cooking gas...
AIICO Insurance Plc has initiated the implementation of the International Financial Reporting Standards (IFRS 17) in a move to enhance work processes and achieve excellence in financial reporting. IFRS 17 is a comprehensive standard designed to regulate accounting for insurance contracts...
Nigeria
NNPC Ltd's Pipeline Contracts Under Scrutiny: Unmasking the Transparency Behind the Controversy
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to allegations of underhand dealings in the award of contracts for pipeline rehabilitation, stating that the contracts were awarded based on rigorous evaluation criteria and industry standards. The company issued a...
Stanbic IBTC Holdings Plc has launched its fintech subsidiary, Zest, aiming to transform the payment sector. During the launch event in Lagos, Group Chairman Basil Omiyi emphasized their vision to become the leading end-to-end financial services provider in the region. Omiyi stressed the...
Ghanaian fintech startup, Dash, has ceased its operations after a tumultuous journey. Founded in 2019 by Prince Boakye Boampong, Dash aimed to create interoperability between mobile money wallets and bank accounts across Africa, streamlining cross-border payments. The company gained significant...
Nigeria
Nigerian Naira Takes a Dive: Why World Bank Calls It One of Africa's Worst-Performing Currencies in 2023
In a recent report titled "Africa's Pulse," the World Bank has highlighted the sharp depreciation of the Nigerian Naira as one of the key economic challenges facing the African region. According to the report, the Naira has weakened by nearly 40 percent against the US dollar since a mid-June...
Nigeria
Nigerian Naira Surges: Currency Strengthens by 1.38% Against US Dollar at Investors and Exporters Window
In a noteworthy turn of events, the Nigerian Naira has displayed a substantial appreciation in its value against the United States Dollar at the Investors and Exporters (I&E) window. This development has sparked considerable interest and raised questions about the factors fueling this...
Image by Gerd Altmann from Pixabay
Fintech company OPay has become involved in a controversial situation that has surprised many Nigerians. Nairametrics reported that many Nigerians have discovered they have OPay accounts despite having yet to open one. This discovery has sparked questions and...
Title: "NDIC Pays N16.18 Billion in Dividends to Depositors of 20 Liquidated Banks"
The Nigeria Deposit Insurance Corporation (NDIC) has taken a significant step towards resolving the fallout from the liquidation of 20 banks by declaring N16.18 billion in liquidation dividends. This...
Nigeria
Federal Government Waves VAT on Diesel for Six Months Following Negotiations with Labor Unions
The Federal Government of Nigeria has made a significant policy decision to exempt Value Added Tax (VAT) on diesel for a period of six months. This announcement comes in the wake of ongoing discussions with various labor unions regarding their planned industrial action.
Minister Mohammed Idris...
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