The International Monetary Fund (IMF) on Monday reported that Nigeria’s foreign liabilities stood at $187.36 billion while the country’s foreign assets amounted to $102.15 billion as of December 2020,. Foreign assets are the investment securities owned by a national government, companies, or citizens in foreign countries while foreign liabilities are assets owned by foreign governments, […]
President Muhammadu Buhari on Monday signed the Petroleum Industry Bill (PIB) 2021. With the President’s assent, the nation’s hydrocarbon resources industry now has an updated legal, governance, regulatory and fiscal framework to guide its operations. A statement issued by Special Adviser to the President on Media, Mr. Femi Adesina, indicated that President Buhari assented to […]
The Securities and Exchange Commission (SEC) at the weekend disclosed that the total value of unclaimed dividends in the Nigerian capital market increased by 7.3 percent from N158.44 billion at the end of 2019 to N170 billion by December 2020. The commission’s Director General, Mr. Lamido Yuguda, made the disclosure at the second post-capital market […]
The Economic Community of West African States (ECOWAS) has set January 2025 deadline for the adoption of cleaner fuels and vehicles for its member-countries in furtherance of its efforts to reduce air pollution across the region. The ECOWAS Director of Energy, Bayaornibe Dabire, gave this hint during the African Refiners and Distributors Association (ARDA) 2021 […]
The Federal Inland Revenue Service (FIRS) has filed an appeal against a recent judgment of the Federal High Court in Port Harcourt, Rivers State, which granted the state the right to collect the Value Added Tax (VAT) and Personal Income Tax (PIT). The federal revenue agency had indicated its intention to file an appeal on […]
Analysts at Russell Group’s ALPS Marine platform have projected that the partial closure of China’s port of Ningbo may threaten $172 billion worth of global trade and the export of $39.2 billion worth of Integrated Circuit Boards (ICBs). According to the Freightos Baltic global container freight index, already the cost of shipping from China and […]
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta has charged the Nigerian youths, who participated in the nationwide digital literacy training conducted by the Commission, to put the skills acquired as well as the Information and Communication Technology (ICT) tools received during the exercise to appropriate and legitimate use. […]
The Nigerian Communications Commission (NCC) and the Nigeria Economic Summit Group (NESG) are considering areas of strengthening their collaboration to enhance the impact of the telecommunications sector on Nigeria’s socio-economic development. This was one of the key issues that featured in the deliberations between the leadership of the commission and the NESG during the courtesy […]
The Securities and Exchange Commission (SEC) has expressed its readiness to collaborate with the Risk Management Association of Nigeria (RIMAN) in its quest to make more products available in the capital market as well as deepen the market The Director General of the SEC, Mr. Lamido Yuguda, gave this hint in a goodwill message on […]
European Union (EU) antitrust regulators have extended the deadline for a decision on Facebook’s acquisition of U.S. customer service startup, Kustomer, by a week to Dec. 15, 2021. A European Commission filing on Monday, indicated that the EU executive, which acts as the competition enforcer for the 27-country bloc, opened a full-scale investigation into the […]