Following the Finance Bill currently passed by National Assembly, Nigerians are in for a shock as the amended sections 33, 49 & 58 of the Personal Income Tax Act. Thus, individuals are required to produce their Tax Identification Numbers (TIN) before they can operate existing or new bank accounts in Nigeria. What this means is … Read more
The Banker Magazine has once again selected leading African financial institution, United Bank for Africa (UBA) Plc as the “African Bank of the Year 2019”. This is the second time, UBA has clinched the prestigious award, having been named Best African Bank of 2017 by The Banker magazine. This year, UBA also won best bank … Read more
The Nigerian Stock Exchange (NSE) has granted the application filed by the board of International Breweries Plc for the listing of its proposed rights issue on the platform. The breweries giant is planning to raise fresh funds of up to N164.4 billion by selling shares to its existing shareholders at a unit price of N9 … Read more
Ebonyi State Governor, David Umahi has declared support to the Federal Government’s closure of the nation’s borders, commending President Muhammadu Buhari for his courage in taking the action. Gov. David Umahi made the declaration on Monday at Onueke, Headquarters of Ezza South Local Government Area (LGA) while declaring open the Central Bank of Nigeria (CBN) … Read more
The Nigerian Shippers Council (NSC) in partnership with the Federal Road Safety Corps (FRSC) has stressed the need for investments in truck transit parks (TTP) to curb accidents and gridlock. The agencies spoke at a sensitisation programme tagged ‘Truck transit parks: a panacea for crash-free haulage operations in Nigeria’. NSC’s Executive Secretary, Mr. Hassan Bello, … Read more
Lagos State Governor, Mr. Babajide Sanwo-Olu, has assured the business community that the State Government has concluded plans to improve infrastructure around industrial zones communities in the state. The Governor said all necessary amenities that can enhance the growth of businesses in the State will be put in place. Sanwo-Olu made this declaration on Monday … Read more
Union Bank has emerged the Best Company in Environmental Excellence award, and the SERAS Innovation Prize at the 2019 Sustainability, Enterprise and Responsibility Awards (SERAs). The Bank also emerged 2nd runner up in the Most Responsible Company award category at the formal ceremony which took place recently in Lagos. Following a rigorous vetting of its Corporate Social Responsibility (CSR) and sustainability … Read more
Zenith Bank has supported and sponsored various technology start-ups and innovative ideas at its recent Tech fair. Zenith Tech Fair, which held at the Land Mark Event Centre, Victoria Island Lagos, was themed ‘Future forward’, which showcased leading technology innovations across every aspect of life. Speaking at the event, Jim Ovia, Chairman, Zenith Bank Plc, … Read more
The International Monetary Fund (IMF) has urged Nigeria to revamp its fiscal consolidation and warned the country of its rising debt. The fund, however, commended Nigeria for the recent reforms aimed at reducing the infrastructure gap in the country. The Assistant Director, Fiscal Affairs Department, IMF, Catherine Pattillo, gave the warning and commendation on the … Read more
Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN) says there is no cause for alarm in the imaginary drop in Nigeria’s Foreign Reserves. Emefiele said this while fielding questions from newsmen after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The Reserves had dropped from about 40 billion dollars to … Read more
Taiwanese industrialists will soon set up factories in parts of Cross River State, the governor confirmed. Governor Ben Ayade made the confirmation in Calabar when he received the entrepreneurs who were in the state to concretise discussions and participate in the Taiwan – Africa Business Association conference. Ayade said some of them will invest in … Read more
Banks’ credit to governments shrunk by13.41 per cent in October to N9.05tn from N10.45tn reported in September, the Central Bank of Nigeria has disclosed. On the other hand, credit to private sector hit N25.8tn in October, according to apex bank. With N25.8tn, commercial bank lending to real sector, the year-till-Date performance revealed that credit to … Read more
The Monetary Policy Committee (MPC) has left the benchmark Monetary Policy Rate (MPR) and other monetary policy tools unchanged to spur economic growth in the fourth quarter of the year. According to reports, the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele who disclosed this decision on Tuesday during a press conference at … Read more
As part of its efforts to promote sustainable development, Unity Bank in collaboration with Avant-Garde Innovation & Technology Services (AGITS) has championed stakeholders’ forum to drive major advocacy initiatives for stronger climate action that will entrench values and ethos for achieving sustainable development goals. The roundtable discourse themed – “The Future of Sustainable Development in … Read more
Public and private sector players on Monday lamented the enormous negative impact of insecurity on businesses, ease of doing operations and business growth in the country, calling for urgent and effective measures to stem the tide. players on Monday lamented the enormous negative impact of insecurity on businesses, ease of doing operations and business growth … Read more
Investment inflow into the Nigerian economy has declined by $460 million in the third quarter of 2019, the National Bureau of Statistics (NBS) said on Monday. Ekohotblog learnt that investment inflow into the Nigerian economy during the period was $5.36 billion compared to $5.82 billion in the second quarter. The NBS disclosed these in its … Read more
The board of Forte Oil Plc has called for a special meeting to be held in Lagos next month to approve the renaming of the company to Ardova Plc. Ekohotblog Recalls that in June 2019, former majority shareholder of the energy firm, Mr Femi Otedola, sold his 75 percent equity stake in the company to … Read more
Shareholders of Niger Insurance Plc have authorised its board to restructure the company’s share capital and also raise addition capital of up to N15 billion. This approval was granted at the 49th Annual General Meeting (AGM) of the firm held on Thursday, November 21, 2019 in Lagos, where other resolutions were unanimously passed by investors. … Read more
American ride-hailing giant ‘Uber’, on Monday lost its license to operate in London following safety and security concerns cited by the state’s transport authority “Transport for London has concluded that it will not grant Uber London Limited (Uber) a new private hire operator’s licence in response to its latest application,” it said in a statement. … Read more
Pornhub is one of the most visited pornographic porn sites in the world, but this high traffic is no longer enough to convince major brands to advertise, fearing to be associated with contents of dubious legality. The group, physically based in Montreal, Canada and fiscally in Luxembourg, and whose goal is to trivialize porn, has … Read more