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Business - Page 396

NIN, CAC Numbers Now Serve as Nigeria’s Unified Tax ID Under New Law

Nigeria has rolled out a unified Tax Identification framework that links tax records directly to existing national identity systems, with the National Identification Number (NIN) now serving as the Tax ID for individuals and Corporate Affairs Commission (CAC) registration numbers forming the

December 23, 2025

Business·News

Nigerian Govt Approves $3.45bn ‘Empowerment Loans’ For Power, Others

The Nigerian government during the Federal Executive Council (FEC) meeting on Monday granted approval for a series of ’empowerment loans’ totaling $3.45 billion. These funds are earmarked for projects spanning the power sector, renewable energy, states’ resource mobilization programs, initiatives focused on

October 24, 2023

Business·Currency

Kenyan Shilling Hits Low At 150 To US Dollar Amid Economic Challenges

The Kenyan shilling, battling multiple economic headwinds, reached an unprecedented low of 150 shillings to the US dollar on Monday, exacerbating the financial woes of Kenyan citizens grappling with soaring inflation and new taxes. The shilling has been on a sustained decline

October 24, 2023

Business·News

Naira Speculators To Burn Their Fingers As Nigerian Govt Evolves New FX Stability Measure

The Nigerian government has announced plans to automate transactions in the entire foreign exchange market in order to close wide arbitrage and punish naira speculators. This is towards ensuring that all dealings in the foreign exchange (forex) market – from the official

October 24, 2023

Nigerian Youth Running Away From Insurance Industry - Tony Elumelu

Business·News

Nigerian Youths Running Away From Insurance Industry – Tony Elumelu

The Chairman of Heirs Holdings, Tony Elumelu has pointed out that the insurance sector of Nigeria’s economy needs a younger and more agile workforce, regretting that young Nigerians are unfortunately not interested in the industry. Prime Business Africa reports that he stated

October 23, 2023

Business·News

EU Seeks Closer LNG Ties With Nigeria To Fill Russia-Ukraine Supply Gap

The European Union (EU) is eyeing stronger diplomatic relations with Nigeria as a reliable liquefied natural gas (LNG) partner to address the gas supply gap caused by the Russia-Ukraine War. During a visit to the Nigeria Liquefied Natural Gas (NLNG) plant, EU’s

October 23, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·News

Naira Woes Continue, Hits N1200/$1 In Black Market Over Scramble For Dollar

The naira's value against the dollar took a hit at the start of the week, with exchange rates opening at N1,200/$1 on peer-to-peer (P2P) platforms

October 23, 2023

Business

Ben Bruce Speaks On Falling Value Of Naira Against Dollar

Former Senator representing Bayelsa West, Ben Murray-Bruce has asserted that the value of the country’s troubled currency, Naira, won’t appreciate just by increased crude oil sales. The senator, known for his advocacy for locally-made goods and services, expressed concerns in a statement

October 23, 2023

Mike Adenuga Loses $300million As Net-worth Further Declines To $3.3bn

Business·News

Mike Adenuga Loses $300m As Net-worth Further Declines To $3.3bn

Three months after boasting of an estimated net worth of $3.6bn, Chairman of Conoil and the founder of Globacom, Mike Adenuga, has lost $300 million in his net-worth, now valued at $3.3bn, Nairametrics reports. The recent decline can be attributed to the

October 23, 2023

Business

Inflation Surges To 27.54% In October, Naira Depreciates, Stock Market Fluctuates Amid Economic Uncertainty

Nigeria’s inflation rate is projected to surge by 83 basis points year-on-year to reach 27.54% in October, marking a 1.9% increase when compared to the previous month’s figure of 26.72%. Analysts from Cordros Capital Research shed light on the factors contributing to

October 23, 2023

World Bank To Invest $750 million In Nigeria’s Rural Electrification Project

Business·Power

REA To Empower 250,000 Households With Electric Innovations

Empowering a quarter of a million households with a brighter future, the Rural Electrification Agency (REA) is spearheading initiatives in electric mobility, mini-grids, and home systems to empower up to 250,000 households. Malam Mutari Ibrahim, the Director of Promotion and Outreach at

October 22, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 396

NIN, CAC Numbers Now Serve as Nigeria’s Unified Tax ID Under New Law

Nigerian Govt Approves $3.45bn ‘Empowerment Loans’ For Power, Others

Kenyan Shilling Hits Low At 150 To US Dollar Amid Economic Challenges

Naira Speculators To Burn Their Fingers As Nigerian Govt Evolves New FX Stability Measure

Nigerian Youths Running Away From Insurance Industry – Tony Elumelu

EU Seeks Closer LNG Ties With Nigeria To Fill Russia-Ukraine Supply Gap

Naira Woes Continue, Hits N1200/$1 In Black Market Over Scramble For Dollar

Ben Bruce Speaks On Falling Value Of Naira Against Dollar

Mike Adenuga Loses $300m As Net-worth Further Declines To $3.3bn

Inflation Surges To 27.54% In October, Naira Depreciates, Stock Market Fluctuates Amid Economic Uncertainty

REA To Empower 250,000 Households With Electric Innovations

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US Surveillance Flights Over Nigeria: A Sign of Heightened Security Cooperation

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Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

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US Surveillance Flights Over Nigeria: A Sign of Heightened Security Cooperation

NIN, CAC Numbers Now Serve as Nigeria’s Unified Tax ID Under New Law

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ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

Dollar Trades Flat In Black Market, Appreciates In Official Window

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

US Surveillance Flights Over Nigeria: A Sign of Heightened Security Cooperation

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