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Foreigners using Free Trade Zone to evade tax payment after visa expires

Foreigners using Free Trade Zone to evade tax payment after visa expires

Foreigners with business visas are reportedly taking advantage of the Free Trade Zones to evade tax payment for businesses and work done in Nigeria.
Obinwanne Okeke says he didn’t commit fraud on American soil

Obinwanne Okeke says he didn’t commit fraud on American soil

Obinwanne Okeke, who was arrested by the FBI, said American prosecutors do not have the jurisdiction to charge him to court because did not commit any fraud in the US.
Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years, Victims of ponzi scheme, Dantata Success and Profitable Company, to be settle

SEC to refund victims of ponzi scheme, Dantata Success and Profitable Company

SEC has started holding talks with individuals who took part in the illegal capital market activities of Dantata Success and Profitable Company for refund.
NDIC, Banking fraud

NDIC defends resolution procedures for failing banks, says it is holistic

The Assistant Director of Insurance and Surveillance at the Nigerian Deposit Insurance Corporation (NDIC) John Abiodun, has defended the corporation's bank failure resolution procedures.
Dangote finally addresses how he amassed his wealth without father’s money, Dangote concludes plan to secure 10,000 trucks from Indonesia ,Dangote and other Nigerians hold form as Forbes releases the richest African billionaires list , Dangote injects N63 billion to revive moribund ANAMMCO in Southeast

Dangote injects N63 billion to revive moribund ANAMMCO

Dangote Group has signed an agreement with Automaker, Transit Support Services Limited, for the supply of Shacman trucks.
energy, corp, recapitalization, New FIRS boss, Nigerians react following the end of Fowler’s reign as FIRS boss, Buhari seeks recapitalisation of African energy corporation to $1 billion tune, Outrage as President Buhari approves N37 billion for National Assembly renovation, Buhari to create new economic opportunities in agric, other neglected sectors , Economy: President Buhari signs Finance Bill into law, Agric: Buhari advances commitment to improve textile, food security, others, FG concludes plan to borrow N2 trillion from Pension Fund , Pres. Buhari’s plan to tax US tech companies might provoke US trade war, UPDATED: Nigerian economy grows by 2.27% in 2019, post highest quarterly growth since 2016 recession

UPDATED: Nigerian economy grows by 2.27% in 2019, post highest quarterly growth since 2016...

Nigeria’s Gross Domestic Product (GDP) grew by 2.55% in real terms, in the fourth quarter (Q4) of 2019, up from 2.38%.
Implementation of oil and gas policy saves $9 billion annually – NCDMB

Implementation of NOGICD Act saves Nigeria $9 billion annually – Agency

About $9 billion has been retained from the average $20 billion being spent in the oil and gas industry yearly due to the implementation of the NOGICD Act.
EU to impose Visa restrictions on Nigeria 

EU plans to impose visa restrictions on Nigeria 

The European Union is planning to place restrictions on Nigerian nationals wishing to get the visa to some European countries popularly known as Schengen Visa.
Facebook’s Libra scores win, gets a new partner

Facebook’s Libra gets new partner

The Facebook-backed cryptocurrency collective, Libra scored a win recently as a new member, Shopify joined the platform. 
Otedola again explores his philanthropic prowess, Nigerians are freaked out as Femi Otedola donates N5 billion to charity , Dangote’s multi billion-dollar refinery is 75% complete, Otedola says. 

Dangote’s multi billion-dollar refinery is 75% complete, Otedola says

Femi Otedola, recently visited the Aliko Dangote’s multi-billion-dollar refinery and fertilizer projects in the Lekki Free Trade Zone, has disclosed that the refinery is 75% complete. 
CBN treasury, domiciliary account

CORRECTION: Cash deposit into domiciliary accout can only be withdrawn over the counter

The Central Bank of Nigeria (CBN) has restricted the process of cash withdrawal of electronic transfer deposits made into domiciliary accounts
Canadian Study Permit: Nigeria ranks 8th highest receiver in 2019

Canadian Study Permit: Nigeria ranks 8th highest receiver in 2019

The newly-released Canadian Study approval list revealed that Nigeria ranks eighth in the ratings of countries with the highest number of study. permits approval in 2019
Financial Empowerment: UBA Launches ‘Click Credit’ to Ease Access to Cash for Customers

Financial Empowerment: UBA Launches ‘Click Credit’ to Ease Access to Cash for Customers

UBA Plc has launched ‘Click Credit’, a time loan designed to address the urgent needs of customers whose salary accounts are domiciled with the bank.
Is there trouble in paradise for the South African economy?

Is there trouble in paradise for the South African economy?

South Africa, which is often touted as one of Africa’s most developed nations, seems to be going through a rough patch economically.
British Airways resumes flight operations to Nigeria after a two-day strike 

British Airways to compensate passengers over diverted flights

British Airways has stated that its passengers, who experienced diverted flights a few weeks ago, would be compensated. 
CBN issues directive to curb mass sacking by banks

CBN: Banks no longer allowed to sack more than 5 staff without approval

Central Bank of Nigeria (CBN) has given a stern warning to all banks that they must seek its consent if they must sack more than five staff.
Cashless Policy, This is when CBN will cut Monetary Policy Rate – Emefiele, Nigeria’s External Reserves depleted by $2.9 billion, hit 10 months low , CBN to fight piracy in Creative Industry , CBN projects macroeconomy confidence to rise by 118.3% in November, Emefiele addresses stable naira

CBN to “reduce” savings rate to 1% declare OMO bills as “Poison”

The Central Bank of Nigeria may have announced plans to reduce savings deposit rates to 1% while declaring OMO bills as Poison.
Buhari signs Siemen's deal, Nigeria-Siemens electricity deal, Power: FG signifies financial commitment to Siemens agreement, Nigeria denies plan to hand over electricity distribution to Siemens

Nigeria denies plan to hand over electricity distribution to Siemens

The Ministry of Power has denied the report that the Federal Government intends to hand over the nation’s electricity distribution to Siemens.
Hike in electricity tariff inevitable, as FG introduces a new policy, Power sector loses N19.15 billion to gas shortages, transmission infrastructure challenges, Second largest hydro power project in Africa to finally take off after settlement of legal dispute

Africa’s second largest hydro power project to take off after legal tussle

The Federal Government seems to have overcome a major stumbling block that has been stalling the progress of Mambila hydropower project.
Zenith Bank GMD and CEO Mr. Ebenezer Onyeagwu

Zenith Bank Plc pays final dividend of N2.50 to shareholders

Zenith Bank Plc announced yesterday that it would pay a final dividend of N2.50 for every 50 kobo shares.
Tomato sellers in NIgeria, Nigeria’s tomato shortfall: What’s the way forward?     

Nigeria’s tomato shortfall: What’s the way forward?     

Yesterday, NIHORT announced at its 2-day workshop that Nigeria’s tomato supply gap now stands at 700,000 metric tonnes.
Ropeways, AfDB reap gains at Africa Investment Summit, AfDB to support FERMA with $10 billion for roads, others 

AfDB to support FERMA with $10 billion for roads, others 

AfDB has offered $10 billion to Federal Roads Maintenance Agency (FERMA) for road and other infrastructure projects in the country. 
FCMB, NSE, Nigerian stocks, Nigerian stock exchange, Presco, Cadbury, UACN led top gainers' chart as ASI gains 0.51%, Guinness, UBA, Access, two others led top gainers on Monday , Access, Zenith and GT Bank traded N3.42 billion shares on Tuesday , Ikeja Hotel, Cadbury, Union Bank top gainers’ chart on Wednesday , Nigeria Breweries, Unilever, Unilever lead gainers chart on Friday , Stock Market dipped N197.35 billion Equity value on Monday , Bulls return to the NSE as market cap hits N13 trillion mark, FCMB, Cornerstone Insurance lead gainers as bourse gain N94.2 billion , Law Union, Lafarge, Unity Bank lead gainers on Tuesday, GTBank, Transcorp, Zenith lead active trades on Friday, NAHCO, Vitafoam lead gainers on Monday as Unilever dipped 9.9% , GTBank, Zenith, UBA, two others lead actively traded stocks on Wednesday, Investors lose N103.91 billion on Friday’s trading session

Investors lose N103.91 billion on Friday

Stock market investors parted with N103.91 billion as the equities market capitalization, which opened at N14.37 trillion, shed 0.72% to close at N14.27 trillion.
Zenith bank, Zenith Bank: Strong growth in Non-Interest Income offset weakness in Interest Income

Zenith Bank: Strong growth in Non-Interest Income offset weakness in Interest Income

Zenith Bank recently released its FY 2019 AUDITED report wherein Interest Income declined 6% y/y to N415.6 billion.
Baker Magunda, Guinness Nigeria Plc, Baileys, Why Guinness is a stock to pick - RenCap 

Guinness Nigeria boss reveals factors pulling company’s profit

Guinness laid issues like port congestion, tax reforms and decline in alcohol pricing have eaten deep into the company's profit, affecting the operations of the company.
NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport, Audit Query: Customs CG disagrees with AGF over N28bn unremitted funds

Audit Query: Customs CG, AGF disagree over N28billion unremitted fund

Col. Hameed Ali and Ahmed Idris appeared before the Senate Committee on Public Accounts to address the audit query from the Auditor General of the Federation, Anthony Ayine over the unremitted funds.  
Meyer Plc announces new appointment

Meyer Plc announces new appointment 

Meyer Plc, in a notice to the investing public, has announced the appointment of Mrs Jane Ijegbulem as its new Company secretary.
visa fees,FG begs US to lift visa ban on Nigeria

FG begs US to lift visa ban on Nigeria 

The Federal government has called on the United States to rethink the travel ban and remove Nigeria from its list of new visa restrictions. 
Here’s Nigeria’s action plan to improve ease of doing business in the country

Here’s Nigeria’s action plan to improve ease of doing business in the country

Nigeria has a new national action plan 5.0 that is aimed at accelerating the actualisation of the country’s ease of doing business target.
Zenith Bank reaffirms market dominance and leadership with Q3 2019 results, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, Zenith Bank reports 7.9% profit increase for full-year 2019

Zenith Bank reports 7.9% profit increase for full-year 2019

Zenith Bank Plc has released its audited full-year financial statement for the period ended December 2019.