Promoters and operators of entities engaged in a prohibited scheme is liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. Thr Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly signed Investments…
BUA Foods has approved the payment of a final dividend of N13 per share to its shareholders, subject to withholding tax and shareholder approval. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday. The statement reads “A final dividend of N13.00 per ordinary shares of 50 kobo each, subject…
Bi-Courtney Aviation Services Ltd., operator of the Murtala Muhammed Airport Terminal Two (MMA2), has expressed the hope that the new tax policy and stable forex market in Nigeria will facilitate trade and improve the businesses. The Head of Aeronautical and Cargo Services at Bi-Courtney, Mr Remi Jibodu, expressed the hope in an interview with the…
Some Chinese, Indian, Tunisian, Ghanaian companies and over 200 indigenous companies would be participating at the forthcoming 36th Enugu International Trade Fair, says Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA). The Director-General of ECCIMA, Mr Uche Mba, told the News Agency of Nigeria (NAN) in Enugu on Tuesday that about 100 indigenous national…
The Federal Government has urged International Oil Companies (IOCs) in Nigeria to increase investments in the oil and gas sector, highlighting the country’s investment-friendly fiscal policies and incentivised investment opportunities. Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made the call at the Cross Industry Group (CIG) Meeting held in Florence, Italy, organised…
Six banks in the country have posted N3.41 trillion as Profit After Tax (PAT) for the year 2024 ended as against the N2.1 trillion recorded in 2023 financial year. This is in spite of diverse transaction and service complaints, dissatisfaction among customers and the challenging economic situation of the country. The figure represents a 62.38…
Energy expert, Dr Ayodele Oni, says the removal of fuel subsidies in Nigeria has had a significant impact on the country’s economy. Oni, a partner at Bloomfield Law Firm, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to him, experts have noted both positive and…
Fidelity Bank Plc has reported a pre-tax profit of N385.2 billion for 2024, representing a 210 per cent growth compared to the N124.3 billion recorded in 2023. The bank, in a statement released on Monday, declared a total dividend of N2.10 per share following its strong financial performance in 2024. Gross earnings increased by 87.7…
The Job Creation and Micro, Small and Medium Enterprises (MSMEs) Secretariat (Office of the Vice-President) says over 60, 000 small business enterprenuers across the country so far, applied for the 2025 MSMEs award. Mr Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, said this in a statement on Monday in Abuja….
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday announced that Electricity Distribution Companies (DisCos) collected N509.84 billion in the fourth quarter of 2024 out of the N658.40 billion billed to customers. This was disclosed in NERC’s 2024 Fourth Quarter Report, published on its website in Abuja. According to the report, this translates to a collection…
