For the umpteen time and the second time in four weeks, the Central Bank of Nigeria(CBN) has raised the Customs duty exchange rate to N951.941 per dollar. The rate was jerked up a month ago from N770.88 per dollar to N783.174 per dollar.The latest duty exchange rate has since been …
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The Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) have agreed to reinvigorate their existing collaboration in realising their respective mandates for the sake of the nation’s economy. This indication was given during a visit to the FIRS Executive Chairman, Mr. Zacch Adedeji, by the CAC Registrar …
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Nigeria’s Naira strengthened by 9.64 percent despite a decline in dollar liquidity at the official market on Monday. At the close of trading on Monday, the dollar was quoted at N837.77, stronger than N927.19 quoted on Friday at the Autonomous Foreign Exchange Market (NAFEM), data from the FMDQ indicated. …
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The Federal Government says it will soon commence disbursement of funds under its Presidential Palliative Programme, targeted at alleviating the impact of the fuel subsidy removal. A statement on Sunday by the Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, said the programmes consisted of the Presidential Conditional Grant …
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President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1,2023. In a statement issued by Ajuri Ngelali Special Adviser to the President on Media and Publicity, the President exercised his power in compliance …
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The Board of Directors of the African Development Bank Group has approved an $80 million loan to finance the Ekiti Knowledge Zone project in Nigeria. The Zone seeks to promote digital innovation and entrepreneurship, generate 26,000 jobs, and contribute some $14 million annually in net economic benefits. The Ekiti Knowledge …
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If all goes to plan, Aliko Dangote, Nigeria’s most successful businessman and the richest person in Africa, is about to bring online a $20bn oil refinery outside Lagos that could transform the continent’s biggest economy. Nigerian billionaire Aliko Dangote faces accusations of unfair practices and a struggle to secure crude …
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The Corporate Affairs Commission (CAC) is making arrangements to partner with the small and mediumEnterprises DevelopmentAgency of Nigeria (SMEDAN) to create 10,000 jobs, amongst others. This was revealed during a meeting between the Registrar-General of the CAC, Hussaini Ishaq Magaji, SAN, and the Director General, SMEDAN, Mr. Charles Odii. The …
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The naira fell, on Thursday, to N956/$ on the official Investor and Exporter forex window as dollar supply declined by 46.77 per cent. This is a 13.78 per cent decline from the N840.53/$ the naira closed trading on Wednesday according to data from the FMDQ Securities Exchange. Also, the turnover …
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The PH Oil and Gas FTZ Command of the Nigeria Customs Service announced a revenue collection exceeding 22 billion naira over the past 10 months. Customs Area Controller, Comptroller Abubakar Umar, shared this achievement on 21 November 2023 at the Nigeria Customs Service PH Oil and Gas FTZ Command, Marble …
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