Inflation rate rose by 11.61 percent in October 2019, being 0.36 percentage points higher than the 11.24 percent recorded in September 2019. The Consumer Price Index (CPI), which measures inflation, released yesterday by the National Bureau of Statistics (NBS) showed that increases were recorded in all divisions that yielded the […]

The Chairman, Governing board, Nigerian Investment Promotion Commission (NIPC), Hon. Babangida Nguroje, has said that the synergy between the commission and the Federal Ministry of Special Duties and Inter-Governmental Affairs will see to the full optimization of the economic zones within the country and boost investments. He said this yesterday […]

As part of the capital raising for the 2019 Budget, the Debt Management Office (DMO) is offering five, 10 and 30 year bonds at 12.8 percent, 14.6 percent and 14.8 percent interest rates respectively. This was contained in a document published on the Debt Management Office (DMO) website on Wednesday. […]

A total of $40.1 billion projects and investments across Africa have caught the attention of institutional investors, President of the African Development Bank, Dr Akinwumi Adesina, has said. Dr Adesina, who disclosed this at the closing ceremony of the second Africa Investment Forum in Johannesburg, South that Africa on Wednesday, […]

The Nigeria Tax and Fiscal Bill seeking to increase the Value Added Tax from 5 per cent to 7.5 per cent yesterday passed second reading in the Senate. This was despite the objection by some senators who claimed that they did not know the details of the bill because its […]

Crude oil and refined products worth $41.9 billion were stolen from Nigeria in the last 10 years (2009 – 2018), the Nigeria Extractive Industries Transparency Initiative (NEITI) said in a report released yesterday in Abuja. In the report, which is a policy brief titled ‘Stemming the Increasing Cost of Oil […]

The House of Representatives has called for investigation into the N126.03 billion unclaimed dividends, withheld tax and their effects on the country’s economy. The call came after adoption of a motion brought on the floor of the house on Wednesday by Babangida Ibrahim (APC, Katsina). Presenting the motion, the lawmaker […]

The Registrar and Chief Executive Officer (CEO) of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), Sam Nwakohu, has said freight forwarders who refused to register with the council on or before December, 2019, will not get their licences renewed by the Nigeria Customs Service (NCS). Towards […]

The Executive Director Corporate Services, Nigerian Export-Import (NEXIM) Bank Bala Mohammed Bello has said the bank is promoting a diversified export base through the provision of finance, risk bearing and advisory services in line with government’s trade policy. Bello was speaking recently in London at the Annual Nigerian British Chamber […]

A Lagos state prosecutor, Mrs Y. A. Pitan, on Wednesday said that a former Super Eagles’ captain, Augustine ‘JayJay’ Okocha, who had been having a legal battle with the Lagos Internal Revenue Service (LIRS) since 2017 over income tax evasion, has settled out of court with the agency. Pitan told […]