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Business - Page 403

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

NGX: Investors Gain N313bn As ASI Rebound By 0.70%

Business·Markets·News

Nigerian Equities Soar With N64bn In Capital Gains

Nigerian equities experienced an upswing in the market, largely attributed to the performance of large and mid-cap stocks. This surge resulted in a net capital gain of N64 billion.

October 12, 2023

Business·Oil & Gas

Nigeria’s Gas Industry In Crisis As Drilling Costs Skyrocket To $30m, Operators Warn

Nigeria’s pursuit of leveraging its natural gas reserves for industrialization and development has suffered a setback, as drilling cost for gas wells is climbing to $30 million. At a media parley and training session for energy reporters, the Nigerian Gas Association (NGA)

October 12, 2023

Billionaire Abdul Samad Rabiu's N3.92trn Windfall In 12 Months

Business·News

BUA Group Chairman’s Net Worth Soars To $7bn In 3 Months With Cement Boom

Nigeria’s business tycoon, Abdul Samad Rabiu, has witnessed a surge in his wealth, catapulting him to a net worth of $7 billion, a leap from $5.7 billion just three months ago. While this surge may be seen as an impressive financial feat,

October 12, 2023

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business

Naira Falls to N1045/$ Amid Federal Reserve’s Cautious Stance

As the Federal Reserve maintains a cautious stance amidst uncertainties, the naira faces a significant decline in the parallel market. The continuous mismatch between demand and supply has pushed the naira to N1045/$ against the dollar, marking a 40% loss since mid-June.

October 12, 2023

NGX Suspends Trading In Unity Bank, Guinea Insurance, 6 Other Companies’ Shares

Business

U.S. Investors Seek New Collaboration In Nigeria’s Capital Market

A high-profile delegation of United States institutional investors, led by Cameron Khowsroshahi, Senior Investment Advisor for Prosper Africa, expressed their interest in expanding their investments in Nigeria’s capital market. The delegation made the declaration during their visit to the Nigerian Exchange (NGX).

October 12, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency·News

Naira-Dollar Exchange Rate Hits N1,040 In Parallel Market As Scarcity Grows

The exchange rate between the Nigerian Naira and the US Dollar has taken a plunge, reaching N1,040 at the parallel market. This latest development stems from the battle between soaring demand and a constrained supply of foreign exchange in the country. Forex

October 11, 2023

Business·News·Oil & Gas

Oil Assets Divestments Will Boost Production, Employment – Wabote

The Nigerian oil and gas industry is poised for a boost in crude oil production, employment creation, and capital injection with the planned divestment of some assets by select international oil and gas companies and concomitant acquisition by operating indigenous companies, the

October 11, 2023

Business·News

MMA2 to Implement Tariff Adjustments In Car Park, VIP Lounge From November

Murtala Muhammed Airport Terminal Two (MMA2), operated by Bi-Courtney Aviation Services Limited (BASL), has announced that it will adjust car park and VIP lounge tariffs from November 1st 2023. In a statement released by BASL’s Head of Corporate Communications, Ajoke Yinka-Olawuyi, it

October 11, 2023

Business·Oil & Gas

Nigerian Regulator Upbeat As Seplat Speeds Up $1.3bn ExxonMobil Asset Purchase Deal

Seplat Energy Wednesday expressed optimism on finalizing talks that will allow it to conclude the deal to purchase ExxonMobil’s offshore shallow water assets. This is as the regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is “very optimistic” that the sale of

October 11, 2023

Presidential Committee Proposes Tax On Unofficial Forex Transactions

Business·News

Ease Of Doing Business: Nigerian Govt Plans Slashing 62 Taxes To 9

Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms has revealed plans by the Tinubu administration to reduce Nigeria’s current web of 62 taxes to a mere nine, in the pursuit of fostering a more business-friendly environment in the

October 11, 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 403

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

Nigerian Equities Soar With N64bn In Capital Gains

Nigeria’s Gas Industry In Crisis As Drilling Costs Skyrocket To $30m, Operators Warn

BUA Group Chairman’s Net Worth Soars To $7bn In 3 Months With Cement Boom

Naira Falls to N1045/$ Amid Federal Reserve’s Cautious Stance

U.S. Investors Seek New Collaboration In Nigeria’s Capital Market

Naira-Dollar Exchange Rate Hits N1,040 In Parallel Market As Scarcity Grows

Oil Assets Divestments Will Boost Production, Employment – Wabote

MMA2 to Implement Tariff Adjustments In Car Park, VIP Lounge From November

Nigerian Regulator Upbeat As Seplat Speeds Up $1.3bn ExxonMobil Asset Purchase Deal

Ease Of Doing Business: Nigerian Govt Plans Slashing 62 Taxes To 9

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

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

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Business - Page 403

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