The country recorded a foreign exchange inflow of $55.5bn in seven months, data obtained from the Central Bank of Nigeria have shown. The rise in forex inflow was attributed to increased non-oil receipts and proceeds from Eurobonds, among other factors. According to the CBN’s economic reports, the country earned $18.3bn in the second quarter of 2021, $30.2bn in the third ... Read More »

Sterling Bank Plc, Nigeria’s leading commercial bank, has said it will organize an award in early February, known as the Sterling Heart Fellowship Award, for tech founders whose businesses employ innovative solutions to tackle challenges in the HEART sectors and have been selected to partake in the Founder Institute Lagos Virtual Spring Program. The HEART sectors include health, education, agriculture, ... Read More »

Some policemen attached to the Anti-Kidnapping Squad of the Oyo State Police Command have been arrested for allegedly extorting N43,800 from an undergraduate of the Olabisi Onabanjo University, Ago Iwoye, Ogun State, Ayodele Olamilekan. Our correspondent gathered that Olamilekan left his school on Wednesday, and was being conveyed to Ibadan, the Oyo State capital, in a commercial bus, when the ... Read More »

As a socially responsible organisation, Stanbic IBTC Holdings PLC is big on positively impacting lives within its host communities in Nigeria through its Corporate Social Investment (CSI) initiatives. Stanbic IBTC’s CSI is hinged on three core pillars: education, health, and economic empowerment, and aims to meaningfully contribute to enhancing the wellbeing of Nigerian communities, especially at the grassroots. One of ... Read More »

As the new year begins, Lagos State Internal Revenue Service (LIRS) wishes its esteemed taxpayers a prosperous 2022. The agency also reminds businesses and employers of labour of their statutory obligation to file annual income tax returns pursuant to section 81 (2) of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended). The Act stipulates January 31st ... Read More »

A coordinated covert operation of officers of the Nigeria Police and the INTERPOL has led to the arrest of a cybercrime syndicate. The ten-days operation which ran from 13th – 22nd December, 2021 was simultaneously carried out in the Federal Capital Territory, Abuja; Lagos in Lagos state; and Asaba in Delta State. The NPF Cybercrime Unit and INTERPOL National Central ... Read More »

As the Federal Government commenced full implementation of the Petroleum Industry Act (PIA) in earnest, the new legislation has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company Limited (NNPC) earn more revenue for the country.   Chief Executive Officer (CEO) of the company, Mallam Mele Kyari disclosed this while addressing staff of the organisation in ... Read More »

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, has introduced a Smart Loan digital solution to enable customers who have an account with their Asset Management arm access a loan to enable them meet their medium-term financial obligations. According to the bank, the devaluation of the naira due to the global economic downturn has reduced disposable income as ... Read More »

Aura by Transcorp Hotels, the online platform for booking accommodation, food and experiences has said a couple stand a chance of winning a free night staycation to celebrate Valentine’s Day when any of them spend up to N100,000 on the platform. The Company, a subsidiary of NGX-listed Transcorp Hotels Plc., stated this at an event on Thursday where it hosted ... Read More »

Nigeria’s leading digital bank, Wema Bank Plc, has reassured its stakeholders that it continues to operate with best-in-class governance processes. The bank also faulted the premise on which a non-governmental organisation, Transparency Nigeria Group, asked the Central Bank of Nigeria (CBN) to remove its Managing Director/CEO, describing the call as baseless. The bank reassured its customers and stakeholders that it ... Read More »