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Business - Page 506

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·Markets

Stock Market Hit N28.64 trillion Amid Rush For Conoil, Transcorp Shares

The stock market in Nigeria closed with N28.62 trillion market capitalisation on Tuesday, 9 May, against the N28.64 trillion reported on Monday, 8 May – it grew by 0.04 per cent or N14.09 billion. The All-Share Index inched higher from 52,579.52 ASI to 52,605.41

May 9, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

The exchange rate between the Naira and the Dollar settled at ₦462.78/$1 on Monday, 8 May, in the official market, which is backed by the Central Bank of Nigeria (CBN). At the end of trading, the United States currency increased in value

May 9, 2023

Business

Tony Elumelu Rejects Femi Otedola’s N250 billion To Buy Transcorp Plc

The Chairman of Geregu Power, Femi Otedola, has revealed that he offered to buy Transnational Corporation (Transcorp) Plc for N250 billion. Otedola, on Tuesday, said his offer was rejected despite planning to help unlock Transcorp’s full potential and create value for shareholders

May 9, 2023

Business

Femi Otedola Alleges Tony Elumelu Backstabbed Him, Took Over His UBA, Transcorp Investments

Femi Otedola has accused Tony Elumelu of double-crossing him in deals involving United Bank for Africa (UBA) and Transnational Corporation (Transcorp). He disclosed that Elumelu betrayed him on multiple occasions. Otedola explained that he financially assisted Elumelu to acquire UBA in 2005.

May 9, 2023

Business·Power

FG Gives Transcorp Power Post-privatisation Discharge Certificate

Transcorp Power Limited, Nigeria’s leading power generation company was on Monday presented with a post-privatisation discharge certificate by the Federal Government of Nigeria

May 9, 2023

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

Business

Union Bank Shareholders Receive N12.18bn Offer To Sell Stake To Titan Trust Bank

Titan Trust Bank Limited, the majority investor in commercial bank, Union Bank of Nigeria (UBN) Plc, has revealed its plan to acquire 100 per cent of the financial institution. Currently, Titan Trust Bank owns a 94.5 per cent controlling stake in Union

May 9, 2023

Wema Bank, BUA Cement, Others Cost Stock Market Investors N672bn

Business·Markets

Access Corp, FBN Holdings Top Trade, Stock Market Up N62.18 billion

The equity capitalisation of the Nigerian bourse increased by 0.21 per cent or N62.18 billion on Monday, 8 May, to close at N28.62 trillion, up from N28.56 trillion. The All-Share Index gained 114.21 basis points to rise from 52,465.31 ASI to 52,579.52 ASI. Investors

May 8, 2023

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business·Currency

Naira To Dollar Rate Closes At N462.23, Foreign Exchange Supply Up By $19.86 million

The Naira and Dollar exchange rate settled at ₦462.23 kobo/$1 at the close of business in the official market on Friday, 5 May 2023. This represents a 0.14 per cent increase in the value of the Naira and ₦0.65 kobo drop in

May 8, 2023

Business·Technology

NCC Empowers Over 2000 Nigerian Youths With Skills For Digital Entrepreneurship

The Nigerian Communications Commission (NCC) has through its programme tagged, Digital Job Creation for Youths (DJCY), empowered over 2,000 youths from the Six Geopolitical Zones of the country with ICT skills. This was revealed in a statement signed by the Executive Vice

May 8, 2023

Dangote Cement GMD Defends Company's Prices After Criticism

Business·Oil & Gas

Nigeria’s Fuel Landing Cost To Drop By N20.7bn After Dangote Refinery Launch – Buhari

President Muhammadu Buhari will commission Dangote Refinery on 22 May 2023 before the end of his administration and the removal of the fuel subsidy in June. This was disclosed by Bashir Ahmad, the Special Assistant on Digital Communications to President Buhari, in

May 8, 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 506

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

Stock Market Hit N28.64 trillion Amid Rush For Conoil, Transcorp Shares

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

Tony Elumelu Rejects Femi Otedola’s N250 billion To Buy Transcorp Plc

Femi Otedola Alleges Tony Elumelu Backstabbed Him, Took Over His UBA, Transcorp Investments

FG Gives Transcorp Power Post-privatisation Discharge Certificate

Union Bank Shareholders Receive N12.18bn Offer To Sell Stake To Titan Trust Bank

Access Corp, FBN Holdings Top Trade, Stock Market Up N62.18 billion

Naira To Dollar Rate Closes At N462.23, Foreign Exchange Supply Up By $19.86 million

NCC Empowers Over 2000 Nigerian Youths With Skills For Digital Entrepreneurship

Nigeria’s Fuel Landing Cost To Drop By N20.7bn After Dangote Refinery Launch – Buhari

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

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