Economy
-
Afreximbank gets Fitch’s ‘BBB’ rating affirmation, agency says outlook stable
By Bolaji Adebiyi in Accra, Ghana African Export-Import Bank’s Long-Term Issuer Default Rating’s ‘BBB’ rating with a stable outlook has been affirmed by the global rating agency, Fitch Ratings. Fitch also affirmed Afreximbank’s Short-Term Issuer Default Rating at ‘F2’ and the Long-Term ratings on the Bank’s Global Medium Term Note Programme and Debt Issuances at ‘BBB’. The rating affirmation is…
Read More » -
Multiple taxation: FIRS partners with market association on VAT remittances
The Federal Inland Revenue Service (FIRS) has entered into partnership with Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) from the markets, especially in the informal sector. The association, which has a membership of well over 40 million across the country’s 774 local governments, and 36 States plus the Federal Capital Territory is the…
Read More » -
Afreximbank introduces single window for digital services
…launches Africa Trade Gateway By Bolaji Adebiyi in Accra, Ghana As part of its efforts to deliver on its mandate of providing critical services to support and promote African trade and the implementation of the African Continental Free Trade Agreement, the African Export-Import Bank in collaboration with the AfCFTA has launched the Africa Trade Gateway. The ATG, which was rolled…
Read More » -
NEITI to conduct study on accurate daily petrol consumption in Nigeria
The Nigerian Extractives Industries Transparency Initiative (NEITI) says there is no credible data to ascertain the daily consumption of petrol in Nigeria. Orji Ogbonnaya Orji, its executive secretary, said the agency will conduct a study to ascertain the accurate fuel consumption in the country. The NEITI executive secretary spoke on Monday at the stakeholders validation workshop on the 2022 Annual…
Read More » -
Naira gains value against dollar at Investors and Exporters window, closes at N756
The naira appreciated against the dollar at the Investors and Exporters window on Tuesday. It exchanged at N756.61 representing 1.79 per cent appreciation when compared with N770.38 it was exchanged on Monday. The open indicative rate closed at N701.75 to the dollar on Tuesday. An exchange rate of N781 to the dollar was the highest rate recorded within the day’s…
Read More » -
Afreximbank, BCA honour Dangote, First Bank, others
By Bolaji Adebiyi in Accra, Ghana President of Dangote Group, Alhaji Aliko Dangote, and Nigeria’s pioneer bank, First Bank of Nigeria, were some of the business leaders honoured at the inaugural Pan-African Business and Development Awards held Monday night at the 30th Afreximbank Annual Meetings in Accra, Ghana. The awards were instituted by the Bank in association with the Business…
Read More » -
FG demands 10 years tax liabilities from ship owners
…gives three months grace to reconcile accounts The Federal Government has issued demand notices to ship owners, requiring them to remit tax liabilities accumulated over the past 10 years. This was disclosed by the Special Adviser to the President on Revenue, Zacchaeus Adedeji, while speaking with State House correspondents in Abuja on Monday. He said the government’s action is in…
Read More » -
Tinubu seeks better cooperation with US over energy transition
President Bola Tinubu has called for a stronger and better cooperation with the United States, as Nigeria and the rest of the world move in the quest for renewable and other sources of clean energy. He spoke during a meeting with United States Assistant Secretary of State, Bureau of Energy Resources, Ambassador Geoffrey Praytt, at the State House, Abuja on…
Read More » -
CBN suspends restriction on $10,000 deposit for domiciliary account holders
The Central Bank of Nigeria (CBN) has said that cash deposits into domiciliary accounts will not be restricted, as customers “shall have unfettered and unrestricted access to funds in their accounts.” This was contained in a statement issued by the apex bank after a meeting with the bankers’ committee on Sunday night. The meeting was meant to provide further guidance…
Read More » -
Afreximbank entices investors with AfrexInsure, to bridge Africa’s $120bn infrastructure financing gap
Bolaji Adebiyi in Accra, Ghana Investors, who worry about the security of their investments in Africa, now have a reason to smile as African Export-Import Bank, Afreximbank, this morning in Accra, Ghana unveiled its finance insurance arm, Insurance Management Company, AfrexInsure. Designed to de-risk large projects and the investment required to develop the infrastructure networks necessary for the development of…
Read More »
