Business News
Business and economic news from Nigeria and around the world.
FG to increase VAT rate to 7.2%
FEC has approved an increase in VAT rate from 5% to 7.2%. The Minister of Finance, Zainab Ahmed made this...
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First Bank MD’s thoughts on the Access/Diamond Merger
Managing Director/CEO of First Bank of Nigeria Adesola Adeduntan sees the merger plans between Access Bank and Diamond Bank Plc...
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VFD Group’s capital raise oversubscribed
VFD Group has raised the sum of N2.78 billion has from a rights issue and private placement exercise. The company disclosed...
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Seplat tops losers chart as bulls maintain hold
The Nigerian Stock Exchange ended today’s trading session in the green, as the All Share Index closed at 29,830.70 basis points, up...
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Foreign Airlines’ ticket sales rise by 21% in 2018
2018 was a swell year for foreign airline operators in Nigeria. as ticket sales rose by 21% to $1.7 billion...
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NEXIM, SMEDAN sign pact to boost exports
The Nigerian Export-Import Bank (NEXIM) has concluded a pact with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). NEXIM disclosed...
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Nigeria’s total debt rises by N10.31 trillion in latest DMO report
Debt Management Office (DMO) has pegged Nigeria’s total debt at N22.43 trillion as at September 2018, an increase of 85.06...
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Heritage Bank joins the bandwagon by targeting the “unbanked”
Heritage Bank Plc has expressed commitment to focus more on retail banking while availing low-income earners and rural dwellers the...
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World Bank expects Nigeria’s economy to grow by 2.2% in 2019
Nigeria’s economy will grow by 2.2 per cent, a new World Bank report on Global Economic Prospects has revealed, as...
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These companies have been shut down by FIRS for owing taxes
Nine companies in Lagos were earlier this week shut down by Nigeria's Federal Inland Revenue Service (FIRS) for owing taxes...
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