The Board of Directors of the United Bank for Africa Plc, Africa’s Global Bank, has announced the appointment of Mrs. Abiola Bawuah, as Chief Executive Officer (CEO) of UBA Africa. Bawuah will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent, outside Nigeria. UBA operates in 19 African countries beyond Nigeria, in ...

The Fiscal Policy Partner and Africa Tax Lead at PwC, Mr. Taiwo Oyedele, has said that encouraging Nigerians to use e-payment channels for transactions may not necessarily address the current scarcity of naira notes in circulation until the government makes e-payment easier and safer for the people. According to him, many countries that have embraced electronic payments and minimal use ...

The Federal Government has been challenged to provide a window of special funding for airline operators in the country. The Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo, made the call in Abuja on Thursday while speaking at a retreat organised by the company to mark its two-year operation in the Nigerian aviation industry. Okonkwo explained that the call for ...

United Kingdom has launched the Developing Countries Trading Scheme (DCTS) in Nigeria which will see exports of goods from Nigeria attracting no duty. DCTS offers one of the most generous sets of trading preferences in the world and demonstrates the UK’s commitment to building long term, mutually beneficial relationships with countries like Nigeria. The DCTS launch took place yesterday at ...

Africa richest man, Aliko Dangote has said that Dangote Refinance located at Lekki Lagos was not part of the projects President Mohammadu Buhari commissioned in his visit to Lagos. The prominent entrepreneur made this known in a press release by his media department. Here is the press statement: Our attention has been drawn to some misleading reports regarding the commissioning ...

The Governor of the Central Bank of Nigeria, Godwin Emefiele has explained why it has continued to extend overdraft credits to the federal government via a policy termed “Ways and Means”. The Governor noted  the reason why the apex bank continues to support the government through ways and means is part of its responsibility as the lender of last resort ...

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has made some clarifications on stamp duty revenue. According to him, the total revenue collected as stamp duty in six years between 2016 and 2022 is N370.686 billion. It will be recalled that a  House of Representatives member, representing Kazaure, Roni, Gwiwa, Yankwashi of Jigawa State, Muhammed Kazaure, had raised the alarm ...

The Monetary Policy Committee of the Central Bank of Nigeria, CBN, has  decided to increase the benchmark interest rate by 100 basis points to 17.5 per cent. This was disclosed by the CBN Governor, Godwin Emefiele, dwhile reading the communiqué at the end of the two-day MPC meeting, the first of the year. The development means this is the fifth ...

The Federal Competition and Consumer Protection Commission (FCCPC) has approved the operations of 94 companies as digital money lenders in Nigeria. However, only 49 of the digital lenders were given full approval, while the remaining 45 got conditional approval. The Commission disclosed this in an update on its ongoing registration of digital money lenders in the country, an exercise targeted ...

The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue last year, the highest in its history. The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami, and released to the public yesterday, after his briefing with President Muhammadu Buhari. “The FIRS, in ...