Business

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, on Monday, paid a visit to the proposed new government revenue generating agency headquarters in Abuja as part of his commitment to delivering quality service to taxpayers. The visit aligns with the ECFIRS’s broader mandate to enhance operational efficiency and foster a more taxpayer-centric service environment.

The Federal Competition and Consumer Protection Commission (FCCPC) on Monday said it has summoned the management of Air Peace Limited over a deluge of consumer complaints from across the country relating to the non-refund of ticket fares, even in instances where the airline had cancelled its flight operations. FCCPC on X said these actions by  Air Peace potentially contravene Sections 130(1)(a) and (b), and 130(2)(b)…

A report by SBM Intelligence stated that foreign direct investment (FDI) and portfolio inflows into the economies of Nigeria and other West African nations may sharply fall as a result of the Israel-Iran conflict. The firm in its insight report titled, “The Escalating Iran-Israel Conflict and its Implications for West Africa”, stated that “An escalation in direct military engagement between…

 In a strategic move to position Nigeria’s capital market as a catalyst for cross-border investments, Nigerian Exchange Group Plc (NGX Group) and the Securities and Exchange Commission (SEC) have reaffirmed their commitment to fostering cross-border capital market partnerships. Their current engagements in China reflect a broader drive to strengthen Nigeria’s connectivity to global financial markets and attract new investment flows.…

By Adejayan Gbenga The Independent Petroleum Marketers Association of Nigeria (IPMAN), South-West Zone, has directed its members to boycott the Lekki-Epe corridor from Monday to avoid embarrassment. The chairman of the zone, Chief Oyewole Akanni, issued the directive in a statement made available to newsmen in Ibadan on Sunday. According to him, the national office had earlier instructed members not…

…deploys 4,000 CNG tankers By Kunle Sanni The Dangote Petroleum Refinery has announced plans to begin nationwide distribution of Premium Motor Spirit (PMS) and diesel from August 15, targeting fuel marketers, petrol dealers, manufacturers, telecom firms, aviation operators, and other major consumers. In a statement released via its official X account on Sunday, the company said it would provide free…

The Central Bank of Nigeria (CBN) has issued a directive instructing Zenith Bank Plc and six other banks operating under regulatory forbearance to suspend dividend payments, defer bonuses for executives, and halt investments in foreign subsidiaries or offshore ventures. The remaining six banks are: Access Bank, FBN Holdings, FCMB, Fidelity Bank, Guaranty Trust Holding Company Plc (GTCO), and United Bank…

The Comptroller-General of Customs (CGC), Adewale Adeniyi, has commended Ogun II Area Command’s impressive revenue performance and pledged support to address its operational challenges. He made this known during a working visit to the Command Headquarters in Abeokuta, Ogun State, recently. During the visit, the CGC was received by the Customs Area Controller (CAC), Comptroller Bisi Alade, alongside other senior…

The Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Ojulari, hosted a delegation from the Independent Petroleum Producers Group (IPPG) on the need to strengthen collaboration with International oil Companies (IoC). The delegation that met with the NNPCL boss in Abuja was led by the Chairman, Abdulrazaq Isa of Waltersmith Petroman Oil Limited. The corporation, in a tweet, said…

Nigeria’s foreign reserves dropped to $38.02 billion as of June 11, 2025, according to the latest data from the Central Bank of Nigeria (CBN). At $38.02 billion, the foreign exchange buffer has depreciated by $427 million so far in June, when it opened at $38.45 billion. As the foreign reserves continue to depreciate, the Naira at the foreign exchange market…