Business

Telecommunication firms are considering a repayment plan proposed by Deposit Money Banks to end the N120bn debt on the Unstructured Supplementary Service Data service, A source said the Central Bank of Nigeria was intervening in the dispute, and planned a meeting with both parties. According to a source in the Association of Licensed Telecommunications Operators of Nigeria, the umbrella body …

Leading Nigerian carrier, Air Peace, has said its operations into the Togolese capital will ease the hitherto difficulties passengers go through while connecting flights within the West Africa sub-region. Speaking during the launch of the flight into Lome, the airline Safety Manager, Capt. Godfrey Ogbogu disclosed that the latest route increased Air Peace regional routes to eight in less than …

The Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, on Tuesday disclosed that the administration of President Bola Tinubu was working to reduce taxes from the current 62 to a maximum of nine, to create a more business-friendly environment in the country. Oyedele, disclosed this at the 2023 annual conference of Institute of Chartered Accountants of …

Crude oil output in Nigeria and Iraq amongst others tempered the cut adopted by Saudi Arabia and Russia in August, a Platts survey conducted by S&P Global Commodity Insights has revealed. The report which covered August production activities said crude oil output from OPEC+ averaged 40.52 million barrels per day last month, on the back of Iran, Iraq and Nigeria. …

  As the summer break winds down, leading financial institution, Fidelity Bank Plc, has emphasised its devotion to help schools prepare adequately for the next session and deliver quality education. Through its bespoke product known as the Fidelity Edu Loan, administrators of registered private primary, secondary and tertiary institutions in Nigeria can access loans of up to N180million. In a …

A Platts survey by S&P Global Commodity Insights has shown that crude oil production by the Organization of Petroleum Exporting Countries (OPEC) and its allies have hit a two-year low due to cuts by the Kingdom of Saudi Arabia The survey also showed that the disruptions in Kazakhstan and Nigeria also outweighs the gains in Iran and Iraq, contributing to …

The Chief Executive Officer of Sterling Bank, Abubakar Suleiman, has acquired 50 million units of the shares of Sterling Financial Holdings Company Plc in a deal worth N168m. This was disclosed in a corporate notice on directors dealing which was filed with the Nigerian Exchange Limited on Friday. Suleiman, a non-executive director of the HoldCo, had bought the shares on …

The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has flayed the past administrations of the Central Bank of Nigeria (CBN) for straying from its core mandates and dabbling into fiscal policies under the guise of developing financial activities. This is even as the apex bank’s czar disclosed that under the past administrations, there was also a lack …

Africa’s Global Bank, United Bank for Africa (UBA) Plc has assured customers of a memorable summer treat with the recent launch of exclusive benefits and discounts tied to its cards during this period.   Tagged, the #FunSummer campaign, customers are set to enjoy a wide range of privileges and savings between now and  the end of August 2023, and this …

The naira exchanged for N736.62 to a dollar at the Investors and Exporters window on Thursday. The local currency appreciated by 4.53 percent compared to the N771.59 it exchanged for the dollar on Wednesday. The open indicative rate closed at N774.74 to the dollar today. READ ALSO: Naira drops value, exchanges for N771/$ at I&E window  A spot exchange rate of …