The Nigerian Communications Commission (NCC) has reported that following the disruption last Thursday, March 14, which affected data and voice services due to cuts in undersea fibre optics along the coasts of Cote d’Ivoire and Senegal, telecom services have now been restored to approximately 90% of their peak utilization capacities. The telecom industry regulatory commission, […]
Revenue
Analysts Predict Positive Outlook In NGX, As Investors Eye Dividends
Investment experts at Bancorp Securities Limited, a leading investment research and consulting services firm in Nigeria, have projected that trading in the Nigerian Exchange (NGX) will be upbeat this week as investors are warming up for dividend yields and other investment expectations. The experts, in the firm’s ‘Weekly Stock Recommendation: Mar 18-Mar 22 2024’ report […]
NIMC, NCC Synergize Efforts To Enhance NIN-SIM Linkage
The National Identity Management Commission (NIMC) and the Nigerian Communications Commission (NCC) have announced a strategic collaboration aimed at enhancing processes for the linkage of the National Identification Number (NIN) and SIM by telecom consumers nationwide. In a joint statement by the Technical Adviser, Media, and Communications to the DG/CEO of the National Identity Management […]
Reps’ Stance On Cement Manufacturers Over Rising Prices Unfair – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has described the recent remarks on the floor of the House of Representatives on cement price which portrayed cement manufacturers in very bad light as not desirable and uncalled for in view of the prevailing economic whirlwinds in the economy. The Chief Executive Officer (CEO) of […]
Wage Policies: ILO, Experts Agree On Issue Of Living Wages
The International Labour Organization (ILO) has reported that its agreement on the issue of the living wage during a Meeting of Experts on Wage Policies in February was on Wednesday endorsed by its Governing body At the February meeting, the experts agreed that decent wages are central to economic and social development and to advance […]
Nigeria’s CIT Accruals Decline By –35.40% In Q4 2023
Indications that Nigerian businesses are under-performing amid current fiscal and monetary whirlwinds triggered by the President Bola Tinubu’s administration emerged on Friday with the aggregate, Company Income Tax (CIT) for Q4 2023 dipping to an all-time-low of N1.13 trillion. The CIT collections indicated a growth rate of –35.40% on a quarter-on-quarter basis when compared with […]
Nigeria’s VAT Collections Surge By 26.61% Q4 2023
The National Bureau of Statistics (NBS) reported on Friday that on the aggregate, Value Added Tax (VAT) collections in Nigeria increased to N1.20 trillion in the fourth quarter of 2023 (Q4 2023), showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion raked in from the revenue source in Q3 2023. In […]
Nigeria’s Inflation Rate Rises To 31.70% In February
….Highest Rate In Over 30 Years Despite sustained policy measures by the Central Bank of Nigeria (CBN) to moderate the nation’s inflation rate, the general price level in the economy continues its upward trend, rising to 31.70% in February this year from the 29.90% recorded in the preceding month. The National Bureau of Statistics (NBS), […]
ALTON Appeals To Telecom Stakeholders On Damaged Submarine Cables
The Association of Licensed Telecommunications Companies of Nigeria (ALTON), has issued an advisory to industry stakeholders concerning the damage to multiple submarine fibre optic cables along the West Africa Coast, which have affected adversely data access and internet services in the sub-region. The association, in a statement signed by its Chairman, Engr. Gbenga Adebayo and […]
CBN Orders Banks, Authorized Dealers To Comply With Revised Guidelines
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs), licensed Non-interest banks, and other authorized dealers utilizing its discount window to strictly adhere to new (revised) circulars and guidelines. The apex bank hinged its latest directive, which was conveyed to the affected operators in a circular signed by its Director Financial Market […]