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NSIA Restates Commitment To Accountability, Inclusiveness In Operations

  …As Comprehensive Income Surges By 1,122% In FY 2023 The Nigeria Sovereign Investment Authority (NSIA) on Thursday restated its continued commitment to strong corporate governance, accountability, transparency and inclusion of critical stakeholders in its continued strive to improve the nation’s infrastructure for improved performance of the economy and value-addition to socioeconomic well-being of the […]

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NSIA Reports 119% Growth In Net Assets For FY 2023

The Nigeria Sovereign Investment Authority (NSIA) on Thursday announced its audited results for the 2023 financial year, which reflected a huge surge in its net assets’ value to N2.22 trillion from the N1.02 trillion it recorded in 2022 financial year, representing 119% increase year-on-year. The financial performance, which reflected improvements in its performance across all […]

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MultiChoice Subsidiaries To Pay $37.3Mn Tax To FG

MultiChoice Group (MCGJ.J), Africa’s largest pay TV conglomerate, disclosed on Thursday that its subsidiary entities in Nigeria had settled a tax dispute with Nigerian tax authorities, thereby agreeing to pay about $37.3 million to the Federal Inland Revenue Service (FIRS). In 2022, the Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts due to its […]

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Nigerian TB Rates Rise Amid CBN’s Hawkish Monetary Policy Stance

Latest report from the Central Bank of Nigeria (CBN) on the results of the Treasury Bills auction offered on January 29 this year indicated that the 364-day treasury bill stop rate rose to 19% per annum, indicating a clear signal that the apex bank is moving towards a hawkish monetary policy. Similarly, the 182-day and […]

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Nigerians Squander $98.7Bn On Overseas’ Education, Healthcare, PTAs In 10 Yrs – Cardoso

Nigerians spent about $98.7 billion in foreign exchange (FX) for education, healthcare and Personal Travel Allowances (PTAs) between years 2010 and 2020 even in the face of dwindling FX earnings by the country during the period. The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, who made this disclosure in his speech […]

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Airtel Africa Mulls $100Mn Worth Of Share Buy Back

Airtel Africa, one of the leading telecommunication services providers in Africa, has announced plans to buy back $100 million worth of its share from the Nigerian investment market from March this year The company, listed on the Nigerian Exchange (NGX), gave this hint on Thursday as it announced its 9-month financial report for the period […]

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CBN Injects $500Mn Into FX Market For Outstanding Commitments

The Central Bank of Nigeria (CBN) announced the release of another $500 million into the foreign exchange (FX) market as part of its monetary measures to boost liquidity in the market and by so doing, stimulate growth in the economy. The latest injection of another tranche of $500 million into the FX market came just […]

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LIRS To Sanction Firms Over Tax Return Filing Default

The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers of labour in the state to submit their annual tax returns on or before the stipulated deadline of January 31, 2024, in accordance with applicable tax legislation. The Executive Chairman of the Service, Mr. Ayodele Subair, who conveyed this reminder in […]

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NNPCL Reports N2.548Trn Profit In 2022, Highest In 46 Yrs

The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit of N2.548 trillion in 2022, which is the highest return on its investment since commenced operations in 1977. The profit as reflected in the company’s ‘2022 Financial Performance Report’ posted online represented a 277.8% increase over the N674.1 billion profit recorded in the 2021 […]

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CBN Dissolves Boards Of Union Bank, Keystone Bank, Polaris Bank

  …..Announces New CEOs For Lenders The apex bank’s Acting Director, Corporate Communications, Mrs. Sidi Ali Hakama, in a statement on Wednesday indicated that the dissolution of the deposit money banks’ boards and management became necessary due to the non-compliance of the affected banks and their respective boards with the provisions of Section 12(c), (f), […]