Category: Economy

NECA Faults FIRS’ Call For Advance Tax Payment
May 1, 2020 No Responses

NECA Faults FIRS’ Call For Advance Tax Payment

The Nigeria Employers’ Consultative Association (NECA) has faulted the Federal Inland Revenue Service (FIRS)’s request asking companies to pay their taxes in advance. Its Director-General, Mr Timothy Olawale, who expressed the concern in a statement on Friday in Lagos, said...
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Global e-Commerce Hits $25.6trillion
May 1, 2020 No Responses

Global e-Commerce Hits $25.6trillion

 E-commerce sales hit $25.6 trillion globally in 2018, up 8% from 2017, according to the latest available estimates released on Friday by the UN’s trade and development body, UNCTAD, at the start of its UNCTAD eWeek event. The online event will...
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UBA Delivers Impressive Returns on Investment, as Shareholders Applaud Bank’s Support in Fight against COVID-19
May 1, 2020 No Responses

UBA Delivers Impressive Returns on Investment, as Shareholders Applaud Bank’s Support in Fight against COVID-19

Leading African financial institution, United Bank for Africa Plc (UBA) held its Annual General Meeting virtually by proxy on Wednesday, April 29, 2020 – a first in UBA’s seventy-one year history. The meeting, which had in attendance shareholders, manageme...
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3,256 Benefits From CBN N50b COVID-19 Credit Facility
April 30, 2020 No Responses

3,256 Benefits From CBN N50b COVID-19 Credit Facility

No fewer than 3,256 individuals and small businesses have so far benefited from the Central Bank of Nigeria’s (CBN) N50 billion Targeted Credit Facility (TCF) to cushion effects of COVID-19. The Managing Director of Nigeria Incentive-Based Risk Sharing Syste...
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NSE Reiterates Commitment To Business Opportunities, Market Sustainability
April 30, 2020 No Responses

NSE Reiterates Commitment To Business Opportunities, Market Sustainability

The Nigerian Stock Exchange (NSE) has pledged to sustain market activities, leverage all available opportunities and maintain open lines of communication to all  stakeholders.  Chief Executive Officer of NSE, Oscar N. Onyema in an interview published...
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Zenith Bank Declares N166.8b Gross Earnings In Q1
April 30, 2020 No Responses

Zenith Bank Declares N166.8b Gross Earnings In Q1

Zenith Bank Plc has announced its unaudited results for the first quarter ended March 31 2020, with gross earnings rising by 6% from N158.1 billion in March 2019 to N166.8 billion. From the unaudited statement of account which was presented...
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Collection Of Processed Passports, Fresh Enrollments Resume May 4
April 30, 2020 No Responses

Collection Of Processed Passports, Fresh Enrollments Resume May 4

The Comptroller General, Nigeria Immigration Service (NIS), Mr Muhammad Babandede, has scheduled collection of processed passports and fresh enrollments for applicants invited through SMS. The Service Public Relations Officer (SPEO), Mr Sunday James, said this...
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Terminal Development Suspended As COVID-19 Persist
April 30, 2020 No Responses

Terminal Development Suspended As COVID-19 Persist

The Port of Seattle has delayed the development of the proposed  Terminal 46 cruise terminal as it needs to investigate the impact of the coronavirus pandemic on the market before proceeding. The cruise industry has been severely impacted by the...
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Ecobank Records Increase In Customers Adoption Of Digital Channels,Posts $90m PBT In Q1
April 30, 2020 No Responses

Ecobank Records Increase In Customers Adoption Of Digital Channels,Posts $90m PBT In Q1

For the first quarter ended March 31, 2020, Ecobank recorded significant increases in customer adoption rates on its digital/online channels.   According to the Bank, adoption rates are expected to accelerate as COVID-19 induced lockdowns change...
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ILO: Nearly Half Of Global Workforce At Risk Of Losing Livelihoods
April 29, 2020 No Responses

ILO: Nearly Half Of Global Workforce At Risk Of Losing Livelihoods

The continued sharp decline in working hours globally due to the COVID-19 outbreak  means that 1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed, t...
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Nigeria Disburses N43.416b To 24 States
April 29, 2020 No Responses

Nigeria Disburses N43.416b To 24 States

The Federal Government has disbursed N43.416 billion as performance-based grants to 24 eligible states on the basis of the results achieved in 2018. Mr. Hassan Dodo, the Director of Press and Public Relations in the Ministry of Finance, Budget and...
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CBN Resumes Dollar Sales For SMEs, School Fees
April 29, 2020 No Responses

CBN Resumes Dollar Sales For SMEs, School Fees

The Central Bank of Nigeria (CBN) has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay school fees and Small and Medium Enterprises (SMEs). The CBN Director,  Corporate Communications, Mr Isaac Okora...
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Union Bank Declares N42.6b Gross Earnings In Q1
April 29, 2020 No Responses

Union Bank Declares N42.6b Gross Earnings In Q1

Union Bank of Nigeria Plc on Wednesday announced gross earnings of N42.6 billion in its unaudited financial statements for the first quarter ended March 31, 2020. The gross earnings represented an increase of 18 per cent when compared with N36.1...
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UBA Shareholders Okay N34.19b Dividend For 2019
April 29, 2020 No Responses

UBA Shareholders Okay N34.19b Dividend For 2019

The United Bank for Africa (UBA) Plc shareholders, on Wednesday, commended the bank for declaring a dividend of N34.19 billion for the financial year ended Dec. 31, 2019. The shareholders gave their commendation at the bank’s 58th and first virtual...
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