On Friday, investors in the Nigerian stock market celebrated a gain of N148 billion, marking a positive end to the week. By the close of trading on Friday, market capitalization increased by N148 billion, or 0.22 percent, reaching N66.257 trillion, up from N66.109 trillion on Thursday. The All-Share Index (ASI) also rose by 234.52 points,…
The World Bank has indicated that Nigeria needs an annual investment of between $10 million and $15 million in its statistical system to surpass the capabilities of South Africa, Brazil, Mexico, and Colombia. The bank expressed concern that Nigeria’s statistical system currently lags behind that of South Africa and other comparable nations. During a courtesy…
A Federal High Court in Nigeria has directed Keystone Bank to take control of Bacita Sugar Company due to the company’s failure to settle an outstanding debt of N25.5 billion. In addition, the court has ordered the freezing of 21 accounts associated with KIA Africa. This decision follows a previous ruling from the Federal High…
A entrepreneurship organisation, Zellri Artistry Beaders is thrilled to offer a complimentary six-month vocational training program in bead embroidery, aimed at equipping individuals with essential skills for a successful career. This all-encompassing training will address every facet of bead embroidery, from basic techniques to advanced design execution, providing participants with the knowledge needed to thrive…
Flutterwave, Africa’s premier payments technology firm, is now facilitating digital tax collection for the Federal Inland Revenue Service (FIRS), positioning itself as one of the few fintech companies aiding the government in the modernization of tax payment systems. This partnership enables the FIRS to utilize Flutterwave’s efficient and secure payment infrastructure to collect taxes, levies,…
On Tuesday, the Nigerian Senate conducted the first reading of a bill aimed at amending the Nigerian Data Protection Act of 2023. This amendment intends to require major social media platforms—including Facebook, X (formerly Twitter), Instagram, WhatsApp, YouTube, TikTok, and independent bloggers—to establish physical offices within Nigeria. The proposed legislation is titled “A Bill for…
This week, the naira experienced its first increase against the dollar in the parallel foreign exchange market on Tuesday. Idris Yunusa, a Bureau de Change operator in Wuse Zone 4, Abuja, informed DAILY POST that the naira rose to N1,580 per dollar on Tuesday, up from N1,585 on Monday. This marks a gain of N5…
The Public Accounts Committee of Nigeria’s House of Representatives announced on Sunday that it has successfully recovered N28.7 billion from two oil companies that owe money to the country’s Federation account. Akin Rotimi, the spokesperson for the Green Chamber, shared this information in a statement on Sunday. This recovery is part of the larger $1.7…
On Friday, United Bank for Africa (UBA) Plc, known as Africa’s Global Bank, welcomed Chief Davidson C. S. Alaribe, FCA, the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), for a meeting focused on enhancing collaboration and innovation between the two organizations. This meeting marked a significant milestone in the partnership, as…
The House of Representatives in Nigeria has approved President Bola Ahmed Tinubu’s tax reform bills following months of heated debate. Sunday Dare, the presidential spokesperson and Special Adviser on Media and Public Communications, announced the approval in a statement via his official X account on Thursday. While he did not provide specific details, Dare confirmed…
