nigeria business news

Foreign investors cut their participation in Nigerian government bond auctions last year, buying just 4.39% of all bonds issued compared with the previous year when they bought 10.99%, a debt office presentation showed. The debt office said local fund managers bought most of the bonds in …...

A criminal charge of reckless granting of loan without adequate security has been filed against the Managing Director of Mortgages PHB Ltd, Bayo Adewakun In a four count amended charge number FhC/422C/2019 filed before a Federal High Court sitting in Lagos, Southwest … Read more via P.M. News...

In a bid to curb boat mishaps, the Lagos state government says it has acquired drones to monitor its waterways, which appear to be the fastest means of transport... Read more via Techpoint.Africa – https://ift.tt/38jF0vU Get more: Nigeria Business News

If you’ve been having challenges connecting to the internet via MTN since Thursday evening, you are not alone. It’s the same for many across West Africa. Here’s what we know so far about the root cause.... Read more via Techpoint.Africa – https://ift.tt/2v0n7nl Get more: Nigeria Business 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 – https://ift.tt/2QZx50I Get more: Nigeria Business News

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...

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...

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...

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 – https://ift.tt/2ss5ZGd Get more: Nigeria Business News

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...

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...

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...

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 …...

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...

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 –...

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 –...

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 – https://ift.tt/2Thiv6p Get more: Nigeria Business 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...

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...

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 – https://ift.tt/2shYMby Get more: Nigeria Business News