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Business - Page 507

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

Fuel Stations To Increase Petrol Price To Over N700, Oil Marketers Give Reasons

Business·Oil & Gas

Dollar Scarcity, Six Other Factors To Increase Fuel Price To N1,700 Per Litre

The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN), Billy Gillis-Harry, has revealed that scarcity of Dollars in the official market and crude oil cost could push fuel price to N1,700 after the subsidy is removed in June.

May 8, 2023

Emefiele Settles For Plea Bargain In N6.9bn Procurement Fraud Case

Business

BUA Foods MD, Lafarge CEO Lament CBN’s Naira Redesign Policy Impact On Operation

The Managing Director of BUA Foods, Ayodele Abioye, and the Chief Executive Officer of Lafarge Africa, Khaled El Dokani, lament about the Naira redesign policy of the Central Bank of Nigeria (CBN). Abioye and El Dokani listed the CBN’s Naira redesign policy

May 8, 2023

Business·Oil & Gas

Edo Refinery Places Order For 200,000 Barrels Of Crude

Edo Refinery and Petrochemicals Company Limited (ERPC) says it has once again placed order for 200,000 barrels of crude from Oza Oil Field operated by Decklar Resources Inc and Millenium Oil and Gas Company. The Refinery was established with the injection of

May 7, 2023

Business·Politics

Behold Top 10 Richest Politicians In Africa 2023

Politics in African society, seems to be one of the most lucrative professions even though it is an avenue for offering public service.

May 6, 2023

Business·News·Technology

Virtual Dollar Cards In Nigeria: Challenges, Solutions For Fintech Startups

HIGHLIGHTS Chargeback fraud and insufficient funds are two major challenges that Nigerian fintech startups like Payday and Chipper Cash are facing in providing virtual dollar cards to their users. Card schemes like Mastercard require issuers to limit chargeback rates to 1%,

May 6, 2023

Africa·Business·News

SUDAN: Bhutan’s Quiet Bitcoin Mining Operation

HIGHLIGHTS – Bhutan’s government has confirmed that it has been running a bitcoin mining operation since 2019 to subsidize power and hardware costs. – The country is in negotiations with Bitdeer, a Nasdaq-listed mining company, to secure access to 100 megawatts of

May 6, 2023

Business·Markets

Stock Market Cap Closes With N28.56 trillion, Amid Losses In Transcorp, Others

Nigerian Exchange Limited (NGX), the capital market authority, reported that equity capitalisation rose to N28.56 trillion on Friday. According to the NGX, the market capitalisation of the Nigerian bourse recorded an increase of 0.33 per cent or N95.05 billion, to rise from N28.47

May 5, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Weakens As Tinubu Eyes New Exchange Rate For Traders, Investors

The Dollar shed some value to the Naira on Thursday, 4 May, resulting in the Nigerian currency rising by 0.02 per cent, while the cost of the greenback dropped by N0.12 kobo. Prime Business Africa learnt that the Naira to Dollar rate

May 5, 2023

Tinubu To Review CBN’s Naira Redesign Policy, Says Emefiele Harshly Applied Plan

Business

Tinubu Vows To Fulfil N200 Dollar Rate Promise, Fuel Subsidy Removal, Others

The President-elect, Bola Tinubu, has reiterated his commitment to fulfilling his campaign promises, some of which include achieving N200 dollar rate and subsidy removal. During his tour of Rivers State on Thursday, Tinubu stated that his administration, which is expected to commence

May 5, 2023

Business

IMF Says CBN’s eNaira Have Unknown Consequences

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the eNaira and other retail Central Bank Digital Currencies (CBDC) have unknown consequences. CBDC is a government-controlled digital currency that is split into two types; retail and wholesale

May 5, 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 507

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

Dollar Scarcity, Six Other Factors To Increase Fuel Price To N1,700 Per Litre

BUA Foods MD, Lafarge CEO Lament CBN’s Naira Redesign Policy Impact On Operation

Edo Refinery Places Order For 200,000 Barrels Of Crude

Behold Top 10 Richest Politicians In Africa 2023

Virtual Dollar Cards In Nigeria: Challenges, Solutions For Fintech Startups

SUDAN: Bhutan’s Quiet Bitcoin Mining Operation

Stock Market Cap Closes With N28.56 trillion, Amid Losses In Transcorp, Others

Dollar Weakens As Tinubu Eyes New Exchange Rate For Traders, Investors

Tinubu Vows To Fulfil N200 Dollar Rate Promise, Fuel Subsidy Removal, Others

IMF Says CBN’s eNaira Have Unknown Consequences

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