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Business - Page 502

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

Naira Opens Week With Gain Across FX Markets

Business·Currency

Gap Between Black Market, Official Window Dollar Rates Now N275.33

The gap between the foreign exchange rates for the Naira and the Dollar in the black market and the official window stood at N275.33 kobo on Tuesday, 16 May. Prime Business Africa gathered that the Dollar exchanged at N740/$1 in the black market,

May 17, 2023

Polaris Bank Media Seminar: Expert Calls For More Training On Investigative Journalism

Business

You Are Legally Dead – Polaris Bank Allegedly Tells Customer, Prevents Him From Accessing Account

A customer of Polaris Bank has accused the commercial bank of declaring him dead, despite being alive, in an attempt to gain access to his deposits held in the firm. In a series of tweets by the customer simply identified as Avogroovy

May 17, 2023

Nigerian Govt Grants 13 New Power Licences, Boosting Off-Grid, Embedded Generation

Business

NERC Goes After Kaduna Disco, Threatens To Shutdown Firm Over N93.41 billion Debt

The Nigerian Electricity Regulatory Commission (NERC) has issued a notice to Kaduna Electricity Distribution Company (KAEDCO), threatening to cancel the firm’s licence. NERC said it has given the Kaduna Disco 60 days to settle its N93.41 billion debt to Nigerian Bulk Electricity

May 17, 2023

Agro-Economy·Business

Sterling Bank, AATIF Raise $15m To Fund Renewable Energy-powered Agro-enterprises

Sterling Bank, in conjunction with the Africa Agriculture and Trade Investment Fund (AATIF), is set to promote environment-friendly agriculture businesses by lending the sum of $15 million to sustainable and renewable energy-powered agric enterprises. A statement from AATIF said the $15 million

May 16, 2023

Business·Markets

Transcorp, Nigerian Breweries, Others Lift Stock Market Cap By N102.38 billion

Nigeria’s equity market valuation grew by 0.36 per cent on Tuesday to end the stock exchange session at N28.54 trillion. This is N102.38 billion above Monday’s N28.44 trillion. The increase was reflected in the All-Share Index, which gained 188.04 basis points, rising

May 16, 2023

Governor of Nigerias Central Bank Godwin Emefiele

Business

Emefiele Trying To Evade Probe With Study Leave – Zamfara Gov. Warns Buhari

The Governor of Zamfara State, Bello Matawalle, has warned that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele is trying to evade accountability by requesting study leave to travel abroad. Matawalle said Emefiele is trying to avoid being probed

May 16, 2023

AMA News·Business

Burundi: Receiving a Cow Can Transform Someone’s Life

Mrs. Christine feeding her cows. Photo: Richard Giramahoro/PRDAIGL Gitega, BURUNDI, 16 May 2023-/African Media Agency(AMA)/—The Great Lakes Regional Integrated Agriculture Development Project (PRDAIGL) has transformed the life of 56-year-old Christine Nyabenda, a widow from Bujumbura, Burundi. Previously living in deplorable conditions, Christine received

May 16, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

Nigeria’s Official Foreign Exchange Rate Depreciates, Traders Transact $55.10 million

The value of the Naira decreased slightly by 0.36 per cent on Monday, 15 May, with the cost of a Dollar inching higher by N1.67 kobo. This is according to the FMDQ Exchange which disclosed that the rate to exchange the Naira

May 16, 2023

Business

Court Makes New Ruling On Titan Trust’s Acquisition Offer To Union Bank’s Minority Investors

Justice A. Aluko of the Federal High Court, sitting at Lagos, has ordered shareholders of Union Bank of Nigeria (UBN) to meet over the proposed takeover offer made by Titan Trust Bank Limited. In a statement dated 16 May 2023, Union Bank

May 16, 2023

Buhari's 8years in Office: No Better Way To Squander Goodwill

Business

How Buhari Failed Small Business Owners In 8 years: Victims Of His Policies Speak Out

“Time Buhari o da,” those are the words of Mrs. Anioluwapo Olaoye, a fish seller in Alagbole, Ogun State, which translates in english as: “Buhari’s time is not good.” Olaoye is one of many small business owners who spoke to Prime Business

May 16, 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 502

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

Gap Between Black Market, Official Window Dollar Rates Now N275.33

You Are Legally Dead – Polaris Bank Allegedly Tells Customer, Prevents Him From Accessing Account

NERC Goes After Kaduna Disco, Threatens To Shutdown Firm Over N93.41 billion Debt

Sterling Bank, AATIF Raise $15m To Fund Renewable Energy-powered Agro-enterprises

Transcorp, Nigerian Breweries, Others Lift Stock Market Cap By N102.38 billion

Emefiele Trying To Evade Probe With Study Leave – Zamfara Gov. Warns Buhari

Burundi: Receiving a Cow Can Transform Someone’s Life

Nigeria’s Official Foreign Exchange Rate Depreciates, Traders Transact $55.10 million

Court Makes New Ruling On Titan Trust’s Acquisition Offer To Union Bank’s Minority Investors

How Buhari Failed Small Business Owners In 8 years: Victims Of His Policies Speak Out

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

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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

South African Court Blocks $3 Billion Electricity Tariff Deal Over Lack of Public Input

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Business - Page 502

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