Starting January 1, 2026, Nigerian banking institutions will begin collecting a ₦50 stamp duty on electronic transfers amounting to ₦10,000 or more. This action is in accordance with the recently enacted Tax Act’s provisions. Several commercial banks have already notified their clientele about this upcoming change, ensuring awareness prior to its enactment. This levy, previously…
The Centre for the Promotion of Private Enterprise has projected between 4.0 and 4.5 percent Gross Domestic Product growth rate for the Nigerian economy in 2026. The CPPE chief executive officer, Dr. Muda Yusuf, disclosed this on Sunday in an economic review of 2025 and outlook for 2026. The Centre predicted a cautious optimism for…
Billionaire businessman, Femi Otedola, has sold his majority stake in Geregu Power Plc for N1.088 trillion in a deal financed by a consortium of banks led by Zenith Bank Plc. The Nigerian Exchange, NGX, made this announcement on Monday. Otedola’s Amperion Power Distribution Company Ltd reportedly held nearly 80 percent of the power generating company….
In a recent announcement, Dangote Refinery has confirmed that its ex-depot petrol price remains steady at N699 per litre. The refinery communicated this update via its X account on Thursday, emphasizing the immediate availability of petrol for collection by petroleum marketers. This announcement follows a period where retail petrol prices in Abuja have seen a…
Aliko Dangote, the esteemed chairman of Dangote Industries Limited (DIL), has leveled serious allegations against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing them of recklessly issuing licences for the importation of petroleum products from Russia. During an engaging media session at his refinery on Sunday, Dangote addressed the vitality of the downstream…
Unless there are any last-minute alterations, MRS and other collaborators of the Dangote Petroleum Refinery are poised to commence the sale of petrol at the price of N739 per litre. This announcement follows a mere two days after the refinery considerably reduced its petrol gantry price from N828 to N699 per litre. During a press…
The Dangote Refinery has significantly slashed its ex-depot petrol price to secure a competitive edge over the Nigerian National Petroleum Company Limited and other fuel stations across Nigeria. Investigations by Petroleumpriceng revealed on Friday morning that Dangote Refinery’s ex-depot price plummeted to N699 per litre, a striking decrease from N828 per litre. This marks a…
The Corporate Affairs Commission, CAC, has revealed fresh obligatory conditions for all requests concerning Business Name Online Updates. In a bulletin entitled “Crucial Notice for Business Name Update,” shared on its official X account on Wednesday, CAC articulates: “With immediate effect, every Business Name Online Update request must encompass: -Date of Birth -Registered Office Email…
Arabinrin Aderonke Atoyebi, the Technical Assistant on Broadcast Media to the Executive Chairman of the Federal Inland Revenue Service, FIRS, has vehemently opposed the demand from the Arewa Consultative Youth Movement for Zacch Adedeji to resign pending an inquiry into what the group has characterized as concerns regarding his “lifestyle”. Atoyebi rebuked the group’s request,…
The Corporate Affairs Commission (CAC) has issued a caution that it may place prominent fintech entities, such as Opay and Moniepoint, under surveillance for allegedly facilitating the operations of unregistered Point of Sale (POS) agents nationwide. The commission stated that any fintech organization found to be aiding the activities of these unregistered POS representatives will…
