BUSINESS18 Videos

LCCI LAMENTS NEGATIVE IMPACT OF NAIRA REDESIGN ON BUSINESS

The Lagos Chamber of Commerce & Industry(LCCI) has lamented the negative impact of the naira redesign on businesses. Speaking, the director-general of LCCI, Dr Chinyere Almona said: “with the launch of the redesigned naira notes last December, expectations were high for the smooth transition to the use of the new notes for business transactions across […]

PENGASSAN URGES FG TO REVOKE LICENSES OF PETROLEUM MARKETERS SELLING ABOVE PUMP PRICE

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has urged the Federal Government (FG) to revoke licences of oil marketers selling above approved pump price of Premium Motor Spirit (PMS). PENGASSAN said the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should immediately mobilise its staff in various locations nationwide to monitor […]

SMEDAN PROMOTES ENTREPRENEURSHIP DEVELOPMENT

The Small and Medium Enterprises Development Agency of Nigeria has renewed its commitment to support entrepreneurship in boosting the national economy. This was disclosed by the Director-General of the agency, Mr Olawale Fasanya, at the closing ceremony of training for 80 Women on Self Employment Programme in Lokoja on Friday. The Deputy Director of Planning, […]

GEREGU POWER ANNOUNCES N20 BILLION DIVIDEND 3 MONTHS AFTER LISTING AS SHARES SOAR

Geregu Power, owned by billionaire businessman, Femi Otedola released its audited accounts for the year ended December 2022, indicating revenues of N47.6 billion. The power company became the first firm to publish its audited financials for the year ending December 2022 with PricewaterhouseCoopers as its independent auditor. The company’s investors reacted favourably to the results […]

CADBURY NIGERIA RECORDS N55BN REVENUE IN 2022

Cadbury Nigeria Plc has recorded a turnover of N55.21 billion for the year ended December 31, 2022. The company’s audited results released on the Nigerian Exchange (NGX) Limited showed that revenue grew by 30.3 percent from N42.37 billion recorded in the same period in 2021 to N55.21 billion in 2022. Cost of sales up by […]

CBN HAS RETRIEVED N1.9TN, TWO MONTHS AFTER NAIRA REDESIGN

Central Bank of Nigeria (CBN) has said that in two months following its naira notes redesign and cash swap policy, it has since recovered N1.9 trillion worth of currency previously held outside of the banking system. This was disclosed by the CBN governor Godwin Emefiele on Sunday, 29th January 2023, as part of his update […]

ECOWAS APPROVES FRESH POLICIES FOR REGIONAL ELECTRICITY MARKET

The Economic Community of West African States Regional Electricity Regulatory Authority has approved critical policies for the development of the sub-regions power market. It also announced its commitment to protect the interests of investors and participants in the regional power market, stressing that the body would ensure that there were conducive investments in the industry. […]

MAFAB ROLLS OUT 5G SERVICES IN LAGOS, FIVE OTHER STATES

MAFAB Communications Limited, on tuesday, unveiled its new logo and rolled out the Fifth Generation (5G) Technology network services in six states.. Mafab won the bid for the 5G Spectrum of 3.5GHz licence in December 2021 and paid over $273.6 million to the Federal Government through the Nigerian Communications Commission (NCC). The roll out of […]

LIRS REAFFIRMS DEADLINE FOR FILING ANNUAL TAX RETURNS

The Lagos State Internal Revenue Service has reaffirm January 31, 2023, as the deadline for filing the annual tax returns by employers of labour. In a statement signed by the Head, Corporate Communications of LIRS, Monsurat Amasa, the LIRS Executive Chairman said all businesses and employers of labour residents within Lagos State must file their […]

FG, STATES, LOCAL COUNCIL SHARES N990.189BN FOR DEC 2022

The Federation Account Allocation Committee (FAAC) says it shared N990.189 billion among the three tiers of government in December 2022. The figure represents an increase of N88.136 billion compared to the N902.053 billion shared in November. FAAC disclosed this in a communique issued at the end of its latest meeting recently in Abuja. The N990.189 […]

ACCESS BANK ROLES OUT STRUCTURE TO BE AMONG TOP FIVE BANKS IN AFRICA BY 2027

Access Holdings Plc has announced its new five-years strategy in a move to become top five financial services institution on African continent by 2027 in terms of revenues, asset and on a balanced scorecard. The Group Managing Director, Access Holdings Plc, Herbert Wigwe yesterday said the banking subsidiary of the financial institution has mapped out […]

QUEUES AT FILLING STATION MAY CONTINUE THAN EXPECTED – IPMAN

Fuel hike in the country may persist for a longer period as agreement between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Nigeria National Petroleum Company Limited is placed on hold. In a statement credited to The Nation newspaper recently, IPMAN’s National Operations Controller, Mike Osatuyi, said his members still buy Premium Motor Spirit […]