Business

The Nigeria Civil Aviation Authority (NCAA) has advised pilots and airline operators to exercise caution over hazardous weather in dry season. This warning was contained in a press release by the Nigerian Meteorological Agency (NiMET) on weather alerting the public on the possibility of deterioration in visibility as a result of observed dust haze propagated into the country from the …

The Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service, LIRS, Mr Tokunbo Akande has clarified the misunderstanding about stamp duty as he maintained that it is a revenue stamp and not a postage stamp. Akande made this known while featuring as a guest on The Tax Talk programme on Channels Television recently. He said contrary …

The Central Bank of Nigeria (CBN) has announced a number of operational modifications for the Bureau De Change (BDC) segment in an effort to increase the effectiveness of the Nigerian Foreign Exchange Market. The apex bank in a statement, which was released on August 17, 2023, details steps to improve and streamline the operations of BDCs. The spread on purchases …

Zenith Bank, Access Holdings, GTCO, UBA and eight other banks listed on the floor of the Nigerian Exchange raked in a whopping N72.723 billion from account maintenance charges in the first half of 2023. According to data extracted from the half-year financial statements of these banks, the amount represented a 7.44 per cent increase compared to the N67.690 billion recorded …

For this week’s stocks to watch, MTN Nigeria Airtel and Ellah Lakes should be on your list, as the Nigerian exchange return for another week of trading activities. Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken …

The Lagos State Internal Revenue Service (LIRS) has closed down Excellent Hotel in Ogba, Lagos and 33 other companies operating in the state for failing to remit Personal Income Taxes of their employees and for non-remittance of Consumption Taxes by operators in the hospitality sector to the Lagos State Government. Some of these companies include NTS Nigeria Ltd., Med-In Hospital …

The value of investments in the Nigerian capital market rose by 0.24 percent at close of trading on Friday. This represented a N85.7 billion growth in the market capitalization from N35.79 trillion to N35.88 trillion at the close of business today. The All-Share Index rose by 157.09 basis points to close at 65,558.91, up from 65,401.82 posted by the bourse …

The Nigeria Bureau of Statistics (NBS) on Friday revealed that the country’s Gross Domestic Product (GDP) slowed to 2.51 per cent in the second quarter of 2023. This growth rate is lower than the 3.54 per cent recorded in the second quarter of 2022 More to come… Join the conversation Opinions Support Ripples Nigeria, hold up solutions journalism Balanced, fearless …

Access Holdings has reported that its group gross earnings for the first half of 2023 rose by 58.89 per cent to N940.31 billion, compared to the N591.80 billion turnover generated in the same period in 2022. This was disclosed in Access Holdings’ consolidated and separate interim financial statements for the period ended June 30, 2023, obtained on Sunday. READ ALSO: …

The Central Bank of Nigeria (CBN) has rubbished a report by JP Morgan on the status of Nigeria’s foreign reserves which sparked concerns over forex liquidity in the country. Ripples Nigeria reported on Wednesday that JP Morgan reported Nigeria’s foreign reserves stood at $3.7 billion as of December 2022 and not $35.08 billion as disclosed by the CBN. Following the …