nigeria business news

  1. Nigeria Business News

    Business VAT implementation takes effect February 1 – finance minister – The Guardian Nigeria News

    Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning says the implementation of Value Added Tax (VAT) increase from five per cent to 7.5 per cent … Read more via The Guardian Nigeria News – Nigeria and World News – Get more: Nigeria Business News
  2. Nigeria Business News

    Business Buhari govt reveals date 7.5% VAT will take effect – Daily Post Nigeria

    Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning has disclosed that the implementation of Value Added Tax (VAT) increase from five per cent to 7.5 per cent will take effect from Feb. 1. Ahmed said this during the inauguration of the Chairman and Board … Read more via...
  3. Nigeria Business News

    Business Nigeria’s free trade zones could unlock Africa’s digital economy – CityPress

    If technology and innovation will change Africa, and there’s no doubt that they will, governance must shift to stimulating opportunity, not stifling it, writes Iyinoluwa Aboyeji. We are all waking up to the enormous potential of Africa becoming the emerging giant tech hub of the world...
  4. Nigeria Business News

    Business Smartphone users spend $120 billion on mobile apps in 2019 – Nairametrics

    Smartphone users spent $120 billion on mobile apps, as 204 billion apps were downloaded in 2019, setting a record higher than that of 2018, the annual State of Mobile report has shown. The annual report, “State of Mobile” by App Annie disclosed that the number of mobile apps downloaded climbed...
  5. Nigeria Business News

    Business FG Begins Implementation Of 7.5% VAT On Transactions – Tori News

    The implementation Of 7.5% VAT on transactions has already commenced which would help raise revenue for the government by various fiscal measures.... Read more via Tori News – Get more: Nigeria Business News
  6. Nigeria Business News

    Business Ivory Coast, Ghana form cocoa cartel – Newtelegraph

    Ivory Coast and Ghana have joined forces to form a cocoa cartel, New Telegraph has learnt. According to the monthly report on commodities from the Bismarck Rewane-led Financial Derivatives Company (FDC) Limited, the cartel, which bore some similarities with the OPEC, was to control… Read...
  7. Nigeria Business News

    Business Kaduna govt seals 2 banks’ premises over N295m unpaid taxes – Newtelegraph

    The Kaduna State Internal Revenue Service (KDIRS) yesterday sealed the premises of Keystone Bank and First City Monument Bank (FCMB) in Kaduna over alleged unpaid taxes. The Executive Chairman of the Service, Dr. Zaid Abubakar told newsmen in Kaduna that the banks allegedly owed the state...
  8. Nigeria Business News

    Business Nigerian oil producer duped into thinking it received $184 million loan from Qatar – MarketWatch

    A Nigerian oil producer thought it had received a critical $184 million loan from a sovereign wealth fund to drill and develop an offshore field. The company, Lekoil Ltd. LSE, -0.26% , told the London Stock Exchange on Jan. 2 it had received the loan from the Qatar Investment… Read more via...
  9. Nigeria Business News

    Business Exxon and Chevron selling assets in Equatorial Guinea and Nigeria as U.S. companies retreat to shale projects – TODAY NEWS AFRICA

    The Minister of Mines and Hydrocarbons in Equatorial Guinea, Mr. Gabriel Obiang Lima, announced on Sunday that Exxon Mobil Corp. was in talks to sell its oil assets in the central African nation. Exxon and Chevron Corp. are also selling stakes in fields in Nigeria, according to the Wall …...
  10. Nigeria Business News

    Business Nigeria says it has rescued three foreigners who were abducted by pirates – Insurance Marine News

    Three foreign sailors — two Russians and an Indian — who had been kidnapped by pirates have been rescued, the Nigerian Navy has said. The three were saved in an operation late on Tuesday January 7th by a navy team in the southwestern coastal state of Ondo, spokesperson Suleman Dahun told Agence...
  11. Nigeria Business News

    Business Immigration System Crash At Nigerian Airports Leaves Passengers Stranded – Sahara Reporters

    There is currently chaos at all arrival points of international airports in Nigeria especially the Murtala Muhammed International Airport, Lagos, following the breakdown of the portal of Innovate One, the concessionaire to the Nigeria Immigration Service...... Read more via Sahara Reporters –...
  12. Nigeria Business News

    Business Dangote renews interest in Arsenal takeover – P.M. News

    Africa’s richest man Aliko Dangote has once again renewed his interest in buying Arsenal Football Club, for which he has set a target must-buy date in 2021. In an interview with Bloomberg, broadcast on the most recent edition The David Rubinstein Show, … Read more via P.M. News –...
  13. Nigeria Business News

    Business VAT Now 7.5%: 10 Things You Need To Know About Buhari’s Finance Bill – Tori News

    Nigerians will now pay more for VAT following the passage of Finance Bill by President Muhammadu Buhari. Nigeria's President Muhammodu Buhari on Monday signed into law Finance Bill 2019.... Read more via Tori News – Get more: Nigeria Business News
  14. Nigeria Business News

    Business AGF withdraws alleged revenue indebtedness demands from MTN – The Guardian Nigeria News

    The office of the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has withdrawn the demand of N242, 244,452,215.97 and $1,283,610,357.86 alleged revenue indebtedness from MTN Nigeria. MTN said it received a letter dated Read more via The Guardian Nigeria...
  15. Nigeria Business News

    Business MTN stock jumps after Nigeria drops $2bn tax claim – Moneyweb

    Nigeria dropped a $2 billion claim for back taxes against MTN Group, ending a 16-month long battle between Africa’s largest wireless carrier and legal authorities in its biggest market. The company, which disputed the claim from the start, had struggled to convince investors it could get the...
  16. Nigeria Business News

    Business Leaked emails between Govt. officials, Oil companies allow Nigeria to recover US$1.1Billion for oil block deal – Kaieteur News

    When transparency advocates and regulators of a country want to recover the nation’s wealth, lost through acts of grand corruption, they often call for an audit to … Read more via Kaieteur News – Get more: Nigeria Business News
  17. Nigeria Business News

    Business Nigeria Unveils $732 Million Broadband Project to Boost Economy – Businessday NG – Businessday NG

    Nigeria plans to invest 265 billion naira ($732 million) in broadband infrastructure over the next four years as the government sets its sights on nationwide coverage and to boost an economy recovering from a 2016 contraction. The government will provide 65 billion naira for the project and...
  18. Nigeria Business News

    Business Update: EFCC denies reported arrest of Access Bank MD as bank clarifies invitation – Businessday NG – Businessday NG

    The Economic and and Financial Crimes Commission (EFCC) has denied the reported arrest of the Group Managing Director of Access Bank Nigeria Limited, Herbert Wigwe. Acting Head of Media and Publicity of the EFCC, Tony Orilade, told our correspondent on Saturday that the reported arrest was...
  19. Nigeria Business News

    Business Cal Bank announces new CEO and four other appointments – Pulse Nigeria

    CalBank has officially announced the appointment of Philip Owiredu as its Chief Executive Officer (CEO). Philip Owiredu takes over from Frank Adu Jnr. who retired from the position after almost thirty years in the banking industry. In a statement issued by the bank, it said that … Read more...
  20. Nigeria Business News

    Business Naira’s performance against dollar in 2019 weakest in 20 years – Premium Times Nigeria

    Nigeria’s Naira recorded its weakest performance against the United States dollar in two decades, closing the outgone 2019 on an average of N362.60, the worst run since the country returned to democratic rule in 1999. A PREMIUM TIMES analysis of Bloomberg financial data showed that in the …...