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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
…..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), […]
President Bola Tinubu has signed the N2.2 trillion supplementary budget for 2023, which will be concurrently implemented with the 2024 budget until March this year. The Speaker of the House of Representatives, Hon. Tajudeen Abbas, who made this disclosure during a media chat at the Presidential Villa on Monday, said that already the President had […]