billion
Guinness Nigeria Plc has recorded a nine-month pre-tax loss of N2.46 billion. The company raked in a revenue of N89.87 billion for nine months ending March 2017 as against N69.62 billion recorded a year ago. It posted a loss of N2.46 billion loss in nine months as against a profit of N1.20 billion a year ago.  
tax
A major crackdown on tax evaders is on the way, Finance Minister Kemi Adeosun said yesterday. They will be named and shamed – in a desperate move to improve the tax to Gross Domestic Product (GDP) ratio and expose evaders. The minister, who spoke at the end of the 2017 IMF/World Bank Spring Meetings in Washington, said Nigeria has the worst...
CBN
CBN had earlier announced new charges on deposit and withdrawals above a threshold of N500,000. The apex bank had directed banks to charge 5% and 10% for deposits and withdrawals above N40m in the corporate category. The bank had fixed 1.5% and 2% for deposits ranging from N500,000 and N1 million in the individual category. But in the circular signed by...
CAC
The Registrar-General, Corporate Affairs Commission (CAC), Mr Mahmud Bello, says the commission has started operating 24 hours company registration process to make startup of business easier in Nigeria. Bello said this at the CAC Customers’ Forum in Kano, organised in collaboration with the Presidential Enabling Business Environment Council (PEBEC). The registrar-general made this known in a statement on Tuesday in Abuja He...
fraudster
A suspected fraudster, John Eze, has been arrested by the Zone 2 Police Command, Onikan, Lagos State, for allegedly defrauding a Bureau De Change operator, Ismaila Ali, in Ikoyi area. It was learnt that 34-year-old Eze had approached Ali sometime in January 2017, to exchange the sum of $7,000 for the naira equivalent.Ali was said to have paid Eze N3,451,000,...
The naira on Tuesday gained further grounds against the US dollar as it closed at N457 at the black market, after the Central Bank of Nigeria (CBN) sold a total of $195 million in forwards. BusinessDay prices checks show that naira traded at N457 per dollar at the Lagos international airport and Apapa respectively. At the Festac area of Lagos, the foreign...
kemi at 50
The Minister of Finance, Mrs. Kemi Adeosun, has urged the Central Bank of Nigeria(CBN) to extend Bank Verification Number(BVN) requirement to account holders in Microfinance Banks. She said this would facilitate the detection of bank accounts which might have been opened and operated in such banks by ghost workers and other syndicates.
Soludo
At the Vanguard Economi Discourse, the Former Central Bank of Nigeria, Professor Charles Chukwuma Soludo has said that, the All Progressive Congress Party, APC, manifesto in 2015 promised a conscious plan for post-oil economy in Nigeria and that there is no projection for exchange rate overhaul in the APC economic plan. He said, however, that even in 2023, it...
Bitcoin
      The price of  bitcoin could hit $3,000 by the end of the year after recently, and hitting a fresh record high, an analyst told CNBC on Tuesday. A rise on this scale would represent a near 150% increase from bitcoin's current price of $1,204 at the time of publication, and a more than 130 percent increase from the fresh...
Etisalat Nigeria
     Despite the intervention of the Nigerian Communication Commission, NCC, to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks, it appears the effort may not have yielded a truce, as the banks are set to take over the telecoms firm today (Wednesday), PREMIUM TIMES learnt. The consortium of some foreign and Nigerian banks, including Guaranty Trust...

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