BUSINESS

Dangote to start exporting fertiliser to U.S., Brazil

        Nigerian billionaire Aliko Dangote’s new fertiliser plant near Lagos will export its first shipment in late June or early July, to Louisiana, while the majority of exports from the plant are expected to go to Brazil, Dangote said on Tuesday. The new plant at the Lekki …

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  Fidelity Bank Plc has said it plans to enrich 15 Nigerians with N39m at the final draw of the Get Alert in Millions Campaign Season 4 savings promo in July. It said this in a statement titled ‘Fidelity GAIM season 4 final draw to hold on July’ on Thursday. …

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Banks commence N6.98 USSD charge, customers kick

Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash transactions because many bank customers would avoid using the USSD …

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FIRS launches new tax returns platform

The Federal Inland Revenue Service has announced the introduction of a new Tax Administration Solution, TaxPro-Max, which will be the sole channel for filing tax returns from June 7th. According to the Chairman of the FIRS, Mr Muhammad Nami, who disclosed this in a public notice, the launch of the …

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Forex: ABCON bans street hawking, moves to cut rate

The Association of Bureau De Change Operators has said it will commence what it called ‘Operation No Street Trading’ to stop the hawking of foreign exchange by BDC operators. The President, ABCON, Alhaji Aminu Gwadabe, said this was part of the resolutions made unanimously by BDC directors at the meeting …

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Binance to empower blockchain engineers in Nigeria, others

Binance announced on Thursday its first Binance Smart Chain Hackathon for Africa, tagged ‘Decentralised Africa’, with a prize pool of over $30,000 on Tuesday. It said the 20-day hackathon would empower blockchain engineers to rapidly build blockchain solutions on the Binance Smart Chain in order to solve real problems identified …

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NNPC plans to acquire stakes in six private refineries

The Nigerian National Petroleum Corporation on Monday said it is currently considering equity participation in some private refineries across the country. It said this was in line with a Federal Government’s policy directive which stipulated the mandatory participation of the corporation in any privately-owned refinery that exceeded 50,000 barrels per …

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Rising debt service cost weighing on FG’s revenue – PwC

The increasing cost of servicing debt continues to weigh on the Federal Government’s revenue profile, a PwC report has said. This report was titled ‘Nigeria Economic Alert: Assessing the 2021 FGN Budget.’ According to the report, the Federal Government keeps spending a huge amount of its revenue to service debt, …

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‘Why Nigerians have not felt impact of GDP growth’

Financial experts have said most Nigerians have not felt the impact of the Gross Domestic Product growth recorded in the first quarter of this year because of the contraction of some key sectors and the high inflation rate in the country. They urged the Federal Government to focus on developing …

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