Category: Business

There were sighs of relief on Tuesday over the return of the old N500 and N1000 notes to markets in the Federal Capital Territory, Abuja, and some other parts of the country. The development was sequel to the directive issued on Monday by the Central Bank of Nigeria, asking Deposit Money Banks to receive and dispense the […]

Residents of Ilorin, Kwara State capital on Tuesday reacted variously to the Monday directive of the Central Bank of Nigeria (CBN) asking commercial banks to receive and dispense the old N200, 500 and N1,000 notes. While the majority of the residents described the directive as a good development, others said it will only impact positively […]

The federal government’s revenue from Value Added Tax, VAT, and Company Income Tax, CIT, increased by 33 per cent annually from N3.68 trillion in 2021 to N4.92 trillion in 2022. National Bureau of Statistic’s fourth quarter 2022 (Q4’22) CIT and VAT reports disclosed this on Wednesday. The report said CIT collections rose to N2.42 trillion […]

Naira exchanged at N461.33 to a dollar at the Investors and Exporters window on Monday. The rate represented an increase of 0.09 percent, compared to the N461.75 for which it exchanged to the dollar before the close of business last Friday. The open indicative rate on Monday closed at N461.50 to the dollar. An exchange […]

Days after the Supreme Court nullified the Central Bank of Nigeria’s Naira redesign policy, the apex bank has remained silent. However, checks by DAILY POST show that some commercial banks have started paying their customers old N500 and N1000 naira notes. DAILY POST went around major banks in the Nation’s capital and learnt that Guarantee Trust Bank […]

On Friday, Naira fell marginally against the US dollar at the Investors’ and Exporters’ window. The development further extended Naira losses to two successive days at the FX market amid weeks of a currency crisis. According to data published on the FMDQ website, an official platform for trading forex, the domestic currency closed at ₦461.75 […]

Inaccurate measurement in the Nigerian oil and gas industry is responsible for about 40 percent of crude oil losses attributed to oil theft in the Niger Delta region, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC has said. The Federal Government had last year estimated that about 200,000 barrels of oil was lost daily in Nigeria […]

Ahead of the general elections around the corner, the Lagos State Governor Babajide Sanwo-Olu, who is also the standard bearer of the All Progressive Congress, APC, for Lagos state, has   reiterated commitment of his administration to sustain strategic investment in infrastructure to bolster productivity, energise business growth and protect private investments. Speaking at an interactive meeting […]

The Association of Professional Food Service Providers of Nigeria, APFSPN, has said that the reason why so many businesses are going into extinction is zero strategy for succession planning. Speaking at the 2023 Annual Conference and Induction of new members into the association, Chairperson, APFSPN, Mrs. Monioluwa Osho, said that succession planning is a strategy […]