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Certificates of incorporation of companies registered under Part A of the Companies and Allied Matters Act will now be issued with Tax Identification Numbers. According to the Corporate Affairs Commission, the registration certificates of business and non-business entities captured in the Act will henceforth be issued with TIN. The management of...
Some stolen artifacts from Nigeria, yesterday go for auction in Paris, despite opposition by Nigeria. The National Commission for Museums and Monuments (NCMM), a parastatal under the Ministry of Information and Culture, as well as some art scholars in the diaspora, had raised the alarm over the auction house’s (Christie’s...
The Federal Airports Authority of Nigeria (FAAN) has announced an upward review of the Passenger Service Charge (PSC) payable by air travellers on local and international flights by 100 per cent. According to FAAN, the new regime of N2,000 from N1,000 and $100 from the initial $50 per passenger would...
Following the health and economic emergencies caused by the COVID-19 pandemic, Nigeria President, Muhammadu Buhari established the Economic Sustainability Committee (ESC) on March 30, 2020, to develop the COVID-19 Stimulus Plan, otherwise know as Nigeria Economic Sustainability Plan 2020, for Nigerians. The total sum for the plan is put at...
Compared with N889 million posted in the corresponding period of 2019, Mutual Benefit Assurance Group Plc has recorded a profit after tax of N932 million for the first quarter ended March 31, 2020. This shows an increase of 4.8 per cent. The underwriting company ended the three months with gross...
Microsoft announces on Friday that it will close all of its retail stores and move its retail operations online, keeping just four locations and transforming them into “experience centers.” The move means the more than 80 Microsoft stores closed due to the coronavirus pandemic will not reopen as the tech...
Customers who saved diligently with Union Bank of Nigeria Plc UnionKorrect accounts have been rewarded with more than N40 million. That brings the amount it has splashed on 2,080 customers since the account was launched in 2015 to N380 million. Addressing the gathering during the latest draw that took place...
The Statistics Department of the Central Bank of Nigeria (CBN) disclosed this in its ‘June 2020 business expectations survey’ which was conducted for businesses nationwide indicated that business operators in different sectors showed a lack of trust in the economy. According to the report, respondent firms expressed pessimism on the...
The Central Bank of Nigeria (CBN) has said that 17 banks submitted requests to restructure over 32,000 loans for individuals and businesses impacted by Coronavirus pandemic, representing 32.94 per cent of the total industry loan portfolio. This was disclosed by a deputy governor, Financial Systems Stability, CBN, Aishah Ahmad,...
Nigeria banks have applied to the Central Bank of Nigeria (CBN) for permission to restructure 33% of their loans due to the fallout from the coronavirus pandemic and a slump in oil prices, the regulator said. A total of 17 banks submitted requests to restructure more than 32,000 loans for individuals and...