Business & Economy - Page 33

Nineteen Nigerian banks have fulfilled the Central Bank of Nigeria’s (CBN) recapitalization requirements as of January 6, 2026, six weeks before the March 31 deadline, according to data from The Cable Index. Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, and

A guide to online customer acquisition for Nigerian small and medium businesses In today’s digital world, Nigerian small and medium-sized enterprises (SMEs), no longer need a physical shop to attract customers. With over 100 million internet users in Nigeria, the online space

Most businesses don’t fail because their product is bad. They fail because nobody sees them. In Nigeria today, competition is fierce. From fashion brands on Instagram to logistics startups, restaurants, tech services, and SMEs, everyone is fighting for attention online. Yet, many

 Says shortfalls need urgent reconsideration to attain stated objectives of tax reform Seeks action on controlled foreign companies, taxation of non-resident persons, imposition of tax, deductions allowed, others Calls for exclusion of withholding tax on insurance premiums paid to non-residents Global advisory

The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 69 pips to 7.0128 against the dollar on Friday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed

The Federal Government, through the Nigerian Ports Authority (NPA), has continued to strengthen Nigeria’s economic landscape by enhancing trade facilitation, developing port infrastructure, and improving operational efficiencies. A new $60 million investment in green port initiatives, championed by President Bola Tinubu’s administration,

Nigeria has signalled its readiness to strengthen economic ties with Spain, highlighting the European country’s role as a key partner and a gateway between Africa and Europe. Speaking during a meeting with the leadership of CEOE, Spain’s leading business confederation, Minister of

Dangote Petroleum Refinery has expanded the distribution of its Premium Motor Spirit (PMS), popularly known as petrol, by commencing direct sales to independent oil marketers with the capacity to purchase a minimum of 250,000 litres. The development marks a shift from the

The Chartered Institute of Taxation of Nigeria (CITN) has dismissed reports that bank balances are taxed under Nigeria’s new tax regime, saying only certain electronic transfers attract a ₦50 stamp duty. CITN Chairman Ben Enamudu, who spoke in an interview with Arise

Nigeria’s poverty rate is projected to rise sharply to 62 per cent by 2026, with about 141 million people expected to be living below the poverty line, according to Price water house Coopers (PwC). The projection is contained in PwC’s Nigeria Economic