MultiChoice Resolves Tax Dispute with FIRS, Agrees to $37.3 Million Settlement MultiChoice Group (MCGJ.J), the leading pay TV conglomerate in Africa, announced on Thursday the resolution of a tax dispute with Nigerian tax authorities, resulting in a settlement payment of…
Operating Airlines in Nigeria: IATA Highlights High Costs and Trapped Funds. The International Air Transport Association (IATA) has brought attention to the considerable challenges faced by airlines operating in Nigerian airports, citing them as among the most expensive in…
Nigerian Treasury Bills Rate Surges to 19% Annually in CBN’s Bid for Exchange Rate Stability. In a significant move indicative of a shift towards a more stringent monetary policy, the stop rates for Nigerian Treasury Bills (TBs) have soared…
Mobile Money Operators Processed Record N46.6 Trillion Transactions in 2023, Reports NIBSS. In a recent report by the Nigeria Inter-Bank Settlement Systems (NIBSS), licensed mobile money operators, including prominent names like OPay and Palmpay, facilitated transactions totaling N46.6 trillion…
Nigerian Government Aims for 214% Surge in Oil Sector PPT Revenue in 2024. The Nigerian Federal Government has set an ambitious goal for 2024, eyeing a remarkable 214% increase in Petroleum Profit Tax (PPT) collections from the oil sector.…
Federal High Court Orders Swift Fixing of Prices for Goods and Petroleum Products. A landmark ruling by the Federal High Court in Ikoyi, Lagos has directed the federal government to promptly establish price regulations for goods and petroleum products…
Mitsubishi’s Stock Surges on $3.4 Billion Buyback Endorsed by Warren Buffett. Mitsubishi witnessed an unprecedented surge in its shares on Wednesday, reaching an all-time high, after revealing a substantial buyback plan of $3.4 billion, supported by Warren Buffett. In…
EFCC Initiates Measures to Combat Currency Mutilation and Dollarization, Protecting Economic Stability. The Economic and Financial Crimes Commission (EFCC) has taken decisive action to clamp down on currency mutilation and the dollarization trend in Nigeria’s economy. Announced via the…
Benin Republic raises $750 million in first-ever dollar bonds as demand hit $5 billion. In a historic move, the Benin Republic has successfully raised $750 million through its inaugural dollar-denominated bond issuance, marking a significant achievement in the country’s…
Nigeria’s Growing Interest in USDT Reflects High Demand for Dollars. Nigeria’s increasing fascination with cryptocurrency assets is strongly linked to its high demand for US dollars, a trend underscored by the surging interest in stablecoins, as indicated by Google…