The apex bank, Central Bank of Nigeria CBN, has said that it would continue to monitor FinTech companies in Nigeria, as an important sector in its operations. Mr Mustapha Haruna, Director, Banking Supervision Department, CBN, has stated this at the end of the 31st Finance Correspondents and Business Editors seminar on Thursday, in Enugu. The that the two-day seminar, organised ...

Dangote Cement Plc has emerged as the highest corporate income taxpayer and the biggest employer of labour in Nigeria for the year 2020. The indigenous cement manufacturer came first among the top 100 elite companies listed on the Nigeria Exchange (NGX) posting into the coffer of the federal government a princely sum of N97.24billion in the year, while MTN Communication ...

President Muhammadu Buhari has urged operators in the petroleum industry to take advantage of the new Petroleum Industry Act (PIA) to promote their investments in the oil and gas sector. The president said this at an audience with a team from ExxonMobil Corporation led by Liam Mallon, its President on Upstream Oil and Gas, at State House Abuja, on Wednesday. ...

US multi-billionaire and Facebook CEO, Mark Zuckerberg has said that he is not worried about the wealth he lost as a result of the Facebook outage which occurred on Monday. The outage, which lasted 6 hours, also affected sister companies WhatsApp and Instagram, which shut out users of all three apps worldwide. Reports revealed that Zuckerberg’s wealth fell by about ...

The Central Bank of Nigeria CBN says that Fintech firms owned by Nigerians have attracted $500 million investments in five years. CBN Governor Godwin Emefiele disclosed this on Wednesday He attributed the development to the confidence the investing community has in Nigeria’s robust payment system. He added that after missing the launch date of October 1, Nigeria’s digital currency the ...

The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns over businesses’ inability to access foreign exchange for the importation of raw materials for production, noting that operators are still experiencing liquidity challenges. The president, LCCI, Toki Mabogunje, at a press briefing on the state of the economy, explained that many investors are still lamenting the difficulty of accessing ...

News reaching us now says that President Muhammadu Buhari will on Thursday this week lay the 2022 appropriation budget before the National Assembly. The intimation was made by theDeputy Senate President, Ovie Omo-Agege  during the plenary on Tuesday. Omo-Agege presided over the plenary in the absence of the President of the Senate, Dr. Ahmad Ibrahim Lawan It was learnt that ...

Organisers of Big Brother Naija, BBNaija season 6 has revealed how much it cost to host the show. CEO of DSTV in Nigeria said it cost N4.3 billion to make the show happen this year. He said this at the season 6 winner’s prize presentation. “We employed 12,000 persons for this show, it cost us N4,3billiom to air this show ...

The apex, the Central Bank of Nigeria (CBN) has planned to increase wheat production by addressing existing difficulties in the value chain and, as a result, bolstering the country’s foreign reserves. Speaking, Mr Philip Yila Yusuf, Director of the CBN’s Development Finance Department, revealed this at a wheat conference and stakeholder engagement in Abuja over the weekend, themed: “Improving and ...

Indications have emerged  that the Attorney General of the Federation (AGF), Abubakar Malami, and the governments of Adamawa, Plateau and Kaduna states will join the Federal Inland Revenue Service (FIRS) in its appeal against the judgment of the Federal High Court in Port Harcourt that empowered Rivers to collect the disputed Value Added Tax VAT. The high court had in ...