OPEC prepares for an age of dwindling oil demand
The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC. The pandemic drove down daily crude consumption by as much…
6% stamp duty on tenancy, lease agreements not chargeable across board – FIRS clarifies
The Federal Inland Revenue Service, FIRS says the 6 per cent stamp duty on all tenancy and lease agreements is not chargeable across board but only on rent or lease…
AfCFTA if implemented could lift 30m people out of extreme poverty by 2035, boost Africa’s income by $450bn – World Bank Study
The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found. If…
Diaspora remittance inflows exceeds $25bn annually in 3 years
President Muhammadu Buhari says Nigerians in the diaspora have brought in over $25 billion annually as home remittances to the Nigerian economy through official and non-formal channels. A statement by…
COVID-19: Global trade hit by new import restrictions – WTO
Global trade has been hit by new and accumulated import restrictions just as economies need to rebuild in the COVID-19 crisis, the World Trade Organization (WTO) said in a mid-year…
WTO: No consensus candidate yet for Africa; Egypt claim a hoax
The African Union (AU) is yet to agree on a consensus candidate for the World Trade Organisation (WTO) Director-General position. In a statement on Tuesday in Bern, the AU said: …
Nigerian banks to limit debit card spending abroad to ease FX risk
Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as banks try to limit foreign currency settlement risk. The country…
MTN introduces e-SIM into Nigerian market
MTN Nigeria Plc on Wednesday unveiled the trial of e-SIM services on its network to improve customer experience and maintain the highest quality of service for its customers. The network…
Daukoru returns, now NLNG Chairman; Ikem-Obih, Abba make Board
President Muhammadu Buhari has approved the newly reconstituted board of Nigeria Liquefied Natural Gas(NLNG) and Bonny Gas Transport Limited ( BGT). The Minister of State for Petroleum Resources, Chief Timipre…
Nigeria’s total unclaimed dividends rose to over N158bn in 2019 due to unclaimed shares
The total unclaimed dividends figure in the Nigerian capital market stood at N158.44 billion as of December 2019, the News Agency of Nigeria (NAN) reports. Data obtained from the Securities…