Business

  • September 12, 2022

Nigerian government grants cashew processors five years income tax relief

The Minister of Industry, Trade and Investment, Adebayo Adeniyi, has stated that companies involved in cashew processing will enjoy income-tax-free for three years which can be extended to five years. Adebayo, who was represented by the Permanent…
  • September 7, 2022

SEC reduces workforce by 30%, declares ₦2.5 billion surplus in H1 2022

The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has said the commission reduced its workforce by almost 30 per cent disclosing that at the end of the first half of…

Extra: Naira trades for N670 to one dollar

The naira fell further in the parallel market to trade for N670 against the U.S. dollar on exchange platform Aboki Forex, according to checks by Peoples Gazette. While the naira fell in value on the black market,…

Naira drops to ₦658/$ at parallel market

Nigerian naira, on Friday, fell at the parallel market to ₦658 per dollar amid higher dollar demand. The figure represents a depreciation of ₦38 or 6.13 percent from the ₦620 it traded last week. Bureaux…

Tesla investors confident on  recovery and fantasy, Elon reacts

NEW YORK, July 20 (Reuters Breakingviews) – It walks like a duck, talks like a duck – but is valued like a sentient robo-duck with lasers for eyes. Tesla’s (TSLA.O)second-quarter earnings bear the scars of manufacturing issues…

Again, CBN increases interest rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 14%. The chair of the Committee and Governor of CBN, Godwin Emefiele, disclosed this during…

TaKe-over: Elon Musk terminates Twitter deal

Elon Musk is formally ending his $44 billion bid to buy Twitter. In a fresh SEC filing on Friday July 8, Twitter shared a letter it received from Elon Musk’s legal team indicating displeasure with…

Dollar hits N610 to naira at parallel market

The Nigerian currency now exchanges at N610 to the dollar at the parallel market, for the first time in history. Although the naira’s official rate eventually stabilised at 419.02 at the Investors and Exporters window,…

Nigerians to pay more as GSM operators plan 40% tariff hike

Telecommunication companies are proposing a 40 per cent increase in the cost of calls, SMS, and data to the Nigerian Communications Commission as a result of the rising cost of running a business in the…