Category: Economy

LIRS, FIRS Seal Tax Audit Pact 
February 7, 2023 No Responses

LIRS, FIRS Seal Tax Audit Pact 

The Lagos State Internal Revenue Service (LIRS) and Federal Inland Revenue Service (FIRS) on Monday, February 6, 2023, signed a Memorandum of Understanding on the exchange of information and implementation of joint tax audit and investigation exercise.    A statement...
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DMO Presents N130b Sukuk Cheque To FMWH, FCTA  
February 7, 2023 No Responses

DMO Presents N130b Sukuk Cheque To FMWH, FCTA  

The Debt Management Office, on Monday, presented cheques of N130 billion being Proceeds of the 2022 Sovereign Sukuk offer to the implementing ministries.   The implementing ministries were the Federal Ministry of Works and Housing (FMWH) and the Federal Capit...
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Group Tasks CBN On PWDs Access To New Naira Notes  
February 3, 2023 No Responses

Group Tasks CBN On PWDs Access To New Naira Notes  

Heal Disability Initiative, a non-governmental organisation, has urged the Central Bank of Nigeria (CBN) to ensure that People with Disabilities (PWDs) have easy access to the redesigned Naira notes.   The organisation also called for inclusion of persons...
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Geregu Power Declares 50.5% Drop In Profit  
February 3, 2023 No Responses

Geregu Power Declares 50.5% Drop In Profit  

Geregu Power Plc has reported 50.5 per cent decline in profit as revenue dropped and earnings impaired negatively.     The company, listed on the NGX last year reported N10.17billion profit in 2022 as against N20.55billion in 2021, while profit ...
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INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 
January 31, 2023 No Responses

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria.   A statement sent to City Business News explained that Nigeria  is now the sixth market in Sub-Sahara Africa to join the INEOS Automotive brand, followi...
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Reps Minority Caucus Lauds CBN For Extending Deadline On Old Notes 
January 30, 2023 No Responses

Reps Minority Caucus Lauds CBN For Extending Deadline On Old Notes 

The House of Representatives Minority Caucus has commended the Central Bank of Nigeria (CBN) for extending the deadline for swapping of the old naira notes.A statement issued by Rep. Ndudi Elumelu (PDP-Delta), the House Minority Leader on Sunday described the....
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Maersk, MSC Terminate Alliance  
January 25, 2023 No Responses

Maersk, MSC Terminate Alliance  

Container shipping giants, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have agreed to terminate the 2M alliance, effective in January 2025.   2M is a container shipping line vessel sharing agr...
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NIMASA Photo News
January 25, 2023 No Responses

NIMASA Photo News

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Union Bank Save & Win Palli Promo Grand finale Holds Jan 27  
January 25, 2023 No Responses

Union Bank Save & Win Palli Promo Grand finale Holds Jan 27  

Following a six-month successful run, the second edition of Union Bank’s Save & Win Palli Promo is finally coming to an exciting conclusion.A statement sent to City Business News explained that the grand finale event, which is set to hold...
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CBN Raises Interest Rate To 17.5%
January 24, 2023 No Responses

CBN Raises Interest Rate To 17.5%

Against projections by some experts, the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) has increased the monetary policy rate by 100 basis points to 17.5 per cent. This is contained in a communiqué issued at the end...
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PTML Customs Command Generates N229.5b In 2022 
January 24, 2023 No Responses

PTML Customs Command Generates N229.5b In 2022 

Between January and December, 2022, the Nigeria Customs Service (NCS), Ports and Terminal Multiservice Ltd. (PTML) Command generated N229.5 billion.  The Customs Area Controller PTML Command, Suleiman Bomai said this at a media conference on Tuesday in La...
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Edo Refinery Begins Production
January 24, 2023 No Responses

Edo Refinery Begins Production

Edo State Government-backed Edo Modular Refinery has commenced production at its 6,000bpd plant in Ologbo, Ikpoba Okha Local Government Area.  A statement sent to City Business News on Tuesday explained that the facility with its feedstock can produce 50 ...
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Edo, Port of Antwerp, Seal Benin River Port Partnership  
January 24, 2023 No Responses

Edo, Port of Antwerp, Seal Benin River Port Partnership  

The Edo State Government has concluded plans with the Port of Antwerp from Belgium as part of measures to finalize the Benin River Ports project.   This was gathered from a meeting of the Benin River Port (BRP) Project Committee with...
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Emefiele: Stamp Duty Revenue Is N370b  Not N89trillion   
January 24, 2023 No Responses

Emefiele: Stamp Duty Revenue Is N370b  Not N89trillion   

The total revenue collected as stamp duty in six years between  2016 and 2022 is N370,686 billion, the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, disclosed on Tuesday.   A House of Representatives member, Alhaji Muhammed Kazaure, ...
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