FINANCING

Shell PLC said weekend that it expects to take a $2 billion hit for the fourth-quarter from additional taxes in the European Union and the U.K. government’s energy windfall tax, and that its integrated gas trading and optimization results significantly rose on quarter. Recently announced additional taxes in the European Union, and the deferred tax hit from the increased U.K. ...

The Central Bank of Nigeria has said 25 firms were invited to participate in the sale process of Polaris Bank Limited via the execution of a non-disclosure agreement. The Director of Corporate Communications, CBN, Osita Nwanisobi, said this in a statement titled, ‘Sale of Polaris Bank: CBN sets record straight’. He said the attention of CBN had been drawn to ...

The Central Bank of Nigeria has said the use of cash payment will naturally reduce 2025 as the new naira notes circulate in the economy. The apex bank made this known in its Payments Vision 2025 document. It said by 2025, the country aspired to have a cashless and efficient electronic payment system infrastructure that would facilitate financial services in ...

……..as Corporate Tax is Raised to 35 Percent Highest Globally…….. Director,Centre for The Promotion of Private Enterprise, CPPE,Dr. Muda Yussuf, has urged President Muhammadu Buhari to withhold assent on the 2022 Finance Bill until the National Assembly properly engages stakeholders in line with legislative protocols. His appeal was sequel to the hurried passage of the 2022 Finance Bill by the ...

President Muhammadu Buhari says the Ajaokuta Steel Complex will generate 1.6billion dollars annually and provide 500,000 estimated jobs for Nigerian youths. Malam Garba Shehu, the Presidential spokesperson in a statement, said that Buhari said this at the Palace of the Ohinoyi of Ebiraland, which he also inaugurated as part of his one-day state visit in Okene, Kogi on Thursday.Shehu said ...

The Senate on Wednesday, passed the N21.8 trillion 2023 budget. This followed the adoption of the report of the Senate Committee on Appropriation at plenary.Presenting the report, the Chairman of the Committee, Sen. Jibrin Barau said that the commitee did a thorough job by examining inputs from its sub-committees before reaching the final figure.“We hereby recommend that the Senate do ...

For Nigerian companies to maximize the opportunities that the African Continental Free Trade Area (AfCFTA) offers, both Federal Government and the organized private sector have important roles to play in terms of breaking barriers, but tariff are some of the major bottlenecks Chief Operating Officer of MicCom Cables and Wires, Bukola Adubi, has said. Adubi stated this while speaking on ...

Apparently bowing to pressure following backlash that greeted the recent cash withdrawal policy announced by the Central Bank of Nigeria (CBN), the apex bank on Thursday reversed the decision. The CBN in a letter to banks in Nigeria increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500, 000 and N5m, respectively. ...

The Central Bank of Nigeria has started the circulation of the newly redesigned naira notes through the Deposit Money Banks who are now releasing the bills to their customers via over-the-counter payments. This came about three weeks after the President, Major General Muhammadu Buhari (retd), unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa. ...

….Files Stay Of Execution Of Appeal Court’s Judgment The Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited and 11PLC have approached the Supreme Court seeking to quash the recent judgement of the Appeal Court nullifying the sale of Lagos Continental Hotel to 11PLC. 11PLC, in a statement to SlyeNews stated that the parties appealed to the Supreme Court vide ...