Business

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the final phase of an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. The agreement, signed in London, is also expected to achieve an incremental peak production of about 283mmscfd of gas, NNPC Group Managing Director, Dr Maikanti Baru, made the disclosure in …

Read More »

Tayo Olanipekun Nissan will become the first Japanese automotive brand to compete in the all-electric FIA Formula E racing championship starting in 2018,the automaker has said. The move to participate in the growing Formula E series gives Nissan a highly visible global platform from which to spread the message of Nissan Intelligent Mobility – the company’s three-pillar strategy to redefine …

Read More »

The Lagos State Internal Revenue Service (LIRS), has shut 13 hotels and  five other organizations  comprising estaurants and event centres for failure to pay  taxes due under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. The hotels and restaurants were said to be owing the state a sum of N426,976,528.87 Speaking on the state-wide tax enforcement exercise, …

Read More »

Ecobank Nigeria has announced a one (1%) percent fee on all Rapid Transfer payments via the Ecobank Mobile app from now through December 31, 2017. This promotion is designed to support citizens who have need to send money to love ones across Africa during this festive season. Announcing this end of year promo in Lagos, Head of Remittance, Ecobank Nigeria, …

Read More »

Riding on the momentum of the successful execution of the previous promotion campaign of its flagship retail promo, Reach for the Skye Millionaire Campaign, Skye Bank Plc. has commenced the Christmas edition, of the draw which will lead to eventual winners in early December. Both new and old customers stand a chance to win N1, 000,000 and other monetary and …

Read More »

The Central Securities Clearing System (CSCS) Plc recently celebrated the duo of Bola Adeeko and Obinna Nwosu for excellent and dedicated services during their time at the company as the Interim Chief Executive Officer and Non-Executive Director respectively. The send-off dinner which took place in Lagos witnessed key industry leaders from across various segments of the economy. Bola Adeeko was …

Read More »

Arábìnrin Betty Anyanwu-Akeredolu Various news media sources on the 13th of November 2017 carried the report of how the Nigerian Military in its newly ratified “Conditions of Service” has implemented a major policy reversal by excluding female cadets from the combatant course of the Nigerian Defence Academy. This policy reversal it has been reported was based on the recommendation of …

Read More »

The Osun Board of Internal Revenue Service, (OIRS), Thursday sealed a Dangote Quarry located at Ajebandele, Ayedaade Local Government Area of the State. The tax enforcement team which was led by the Special Adviser to Governor Rauf Aregbesola on Tax and Revenue Matters, Barr. Gbenga Akano and the officials of Osun Internal Revenue Service arrived at the quarry as early as 6:30am, sealing …

Read More »

The International Monetary Fund (IMF) has warned that Nigeria and other oil producing countries in Africa may be overburdened with the high cost of debt servicing. It said such costs are expected to absorb over 60 per cent of governments’ revenues this year in Nigeria, Angola and Gabon. Public debt, the IMF said, rose above 50  per cent of gross domestic product …

Read More »

Following the Federal Executive Council’s approval, the Ministry of Budget and National Planning is set to organize focused labs. These labs consist simply in the bringing together of relevant stakeholders in the public and private sectors into weeks of intensive working sessions to brainstorm on practical steps to overcoming any identified challenges in the implementation of the country’s Economic Recovery …

Read More »