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Networking is beyond handshakes and exchange of cards – Herbert Wigwe

Herbert Wigwe, the Group Managing Director of Sub-Saharan Africa’s biggest bank, Access Bank Plc, recently took to his Twitter page to talk about what a good business networking entails. He told his nearly twenty four thousand followers on the micro-blogging site that networking is beyond handshakes and exchange of cards. Instead, it also involves showing deep interest in […]

NNPC commences rehabilitation of Port Harcourt’s refinery to boost local supply

The Nigerian National Petroleum Corporation(NNPC) has commenced the rehabilitation of the first phase of the 210,000 barrels per day capacity Port Harcourt Refinery complex. The rehabilitation is aimed at to ensure local sufficiency in refined petroleum products. The Group Managing Director of the NNPC, Maikanti Baru, flagged-off the exercise at the complex which comprises the 60,000 barrels per day old Refinery built […]

GTBank goes beyond banking, launches digital playground for children

Guaranty Trust Bank Plc has built the first digital playground for children in Nigeria. The tier-1 lender, which is famous for designing innovative and personalised products that are tailored to customers’ needs, is putting children first. The GTBank Play Centre is equipped with a wide array of interactive games that will give kids a fun and immersive digital […]

FG to auction N100bn bonds on March 27

The Federal Government will auction by subscription N100 billion worth of bonds on March 27, the Debt Management Office (DMO) says. The DMO said in a circular on its website on Tuesday in Abuja, that the five-year re-opening bonds of N40 billion to mature in April 2023 was offered at 12.75 per cent. It said […]

FIRS debunks 50% VAT increase

The Federal Inland Revenue Service (FIRS) on Wednesday refuted report of planned increment of Value Added Tax (VAT) by 50 per cent to meet up payment of the newly proposed minimum wage. Nigeria at present has a 5 percent VAT regime on goods and services. The Head, Communication and Servicom Department, Mr Wahab Gbadamosi, made […]

FIRS to increase VAT after Senate confirmed minimum wage increase

The Federal Inland Revenue Service (FIRS) has announced it will increase the Value Added Tax (VAT) by between 35 and 50 per cent in 2019. This move comes a day after Nigerian legislature approved the N30,000 minimum wage. The Chairman of the Revenue service made the disclosure when he and other top officials in the Federal Ministry of […]

NNPC mulls extension of gas pipeline to Algeria, Morocco

There are plans by the Nigerian National Petroleum Corporation, NNPC, to extend the ongoing Ajaokuta-Kaduna-Kano gas pipeline system across the Sahara to Algeria in North Africa. The corporation’s Group Managing Director,  Mr Maikanti Baru, said the extension of the Ajaokuta-Kaduna-Kano gas pipeline system is in accordance with the regulating body’s African integration drive. Baru made the statement while receiving […]

Senate passes N30,000 minimum wage

The Senate has passed the National Minimum Wage Bill, approving N30,000 minimum monthly wage for Federal and State workers. The proposed new National Minimum Wage was presented to the National Council of State on Jan. 22 after which it was sent to the National Assembly. The Federal Executive Council meeting also deliberated and approved the […]

AMCON outsourced 6,000 accounts to AMPs worth N740b

Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru, hinted that AMCON may disengage Asset Management Partners (AMPs) that cannot cope with the speed and enormous challenges of debt recovery expected by the corporation. He also promised that the corporation may assign more accounts to AMPs that have shown aggression and zeal […]

Top 10 high-yield money market funds that beat inflation in Nigeria

It is not uncommon, but a risk management strategy for investors (who worry that stocks are either too expensive or not performing well), to buy some downside protection with yield. On the alternative, sometimes, the fear of poor stock market performance forces conservative and risk-averse investors to sit on their cash rather than risk the […]

Nigerian fintech, TeamApt, to expand to the Americas later this year

Budding Nigerian financial technology firm, TeamApt, has disclosed ongoing plans to expand its oepration into Latin America countries by the third quarter of the year. The company’s Founder and Chief Executive Officer, Mr Tosin Eniolorunda, made the disclosure recently during an interview. According to Mr Eniolorunda, the company intends to push growth in other areas and […]

NNPC yet to receive notice of OML 11 takeover from Presidency

Days after the Presidency reportedly ordered the Nigerian National Petroleum Corporation(NNPC) to take over the operatorship of the entire OML 11 from Shell Petroleum Development Company (SPDC), the petroleum regulating body said such notice hasn’t reached the Corporation. SPDC is a local arm of Anglo-Dutch oil major, Shell. NNPC reacts to takeover notice: According to a report by Daily Trust on Thursday, NNPC had […]

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