Business

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The price of crude oil climbed above the $100 mark on Sunday hitting $101.16/barrel after trading around $98/barrel since Tuesday, as oil marketers in Nigeria maintained an increased pump price for Premium Motor Spirit, popularly called petrol, higher than the approved rate. Industry figures seen on Sunday showed that Brent, the international benchmark for crude, […]

The Nigerian Customs Services has deactivated Five Star Logistics Limited terminal from its portal at the Tin Can Island port over N97.3 million debt. This was disclosed by the Association of Nigerian Licensed Customs Agents (ANLCA) on Friday and confirmed by the Customs Service in an interview with the News Agency of Nigeria. The Customs […]

The Major Oil Marketers Association of Nigeria (MOMAN) yesterday said the regulated N165 pump price for Premium Motor Spirit (PMS), also known as petrol, is no longer realistic. Its Chairman, Olumide Adeosun, said it would be difficult to enforce any kind of price control mechanism on marketers who had to slightly adjust their prices based […]

The Federal Government will collaborate with Amazon Prime Video to build capacity and upskill Nigerians on local content in the movie production industry.  Lai Mohammed, Minister of Information and Culture, announced this on Wednesday, during a stakeholders’ meeting with the officials of Amazon Prime Video. Amazon Prime Video is an American subscription video-on-demand over-the-top streaming and rental […]

Twitter said Monday in a letter that billionaire Elon Musk’s bid to terminate his proposed $44 billion acquisition of the social media company is “invalid and wrongful.” Elon Musk’s lawyer Mike Ringler in a letter to the SEC on Friday cited many reasons for his decision to quit, noting that “Twitter has not complied with its contractual […]

Neimeth International Pharmaceuticals Plc has held a completion board meeting to float a rights issue of N3.67 billion through the Nigerian capital market. At the meeting held yesterday in Lagos, it was made known that the rights issue, which will commence on August 3, 2022 will be used to raise the sum of N3.67 billion […]

Flutterwave Kenya has denied involvement in any financial improprieties in the guise of providing merchant service as contained in recent reports. This was disclosed by the company in a statement titled, “Communication regarding media reports on Flutterwave Kenya.” According to the statement which is dated the 7th of June, the company said it earns its […]

Just like famous Innoson Motors, another vehicle manufacturing company has started vehicle making in Enugu. The Enugu State government has expressed delight at the commitment of Ingrace Group in promoting indigenously manufactured vehicles in Nigeria. Speaking when a delegation from Ingrace Motors Nigeria Limited, led by its Chief Executive Officer (CEO), Chief Chinedu Onu, displayed […]

The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Limited and the FMDQ Securities Exchange. Proceeds from the Sovereign Sukuk, which was heavily oversubscribed, were meant for the execution of infrastructural projects across the country. According to the DMO, the listing is done to maximise market liquidity for […]

The Federal Inland Revenue Service (FIRS) has bowed to pressure from companies and agreed to extend the deadline for the filing of Company Income Tax (CIT) returns to August 31, 2022. The extension of this deadline is contained in a statement by the FIRS and signed by the tax authority’s Executive Chairman, Muhammad Nami. Nami […]


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