Business Archives - Page 47 of 51

CBN Halts Forex Sales To Bureau De Change Operators

The Central Bank of Nigeria (CBN) has banned the sales of foreign exchange (forex) to the Bureau De Change (BDCs) operators throughout the country. Godwin Emefiele,...

Business4 years ago

WE USE INNOVATION TO ADD VALUE TO EXISTING MARKETS – ADEGUNWA, RITE FOODS LTD MD

Mr. Seleem Adegunwa, the Managing Director of Rite Foods Limited, makers of Nigeria’s favorite Bigi drinks, Rite sausages, and leading energy drink brand, Fearless, has affirmed...

Business4 years ago

Bedroom Makeover worth N1 Million up for Grabs as Mouka Launches New Campaign.

Mouka, Nigeria’s leading brand of mattresses and pillows has launched a new campaign to encourage consumers to buy the right Mouka mattress based on their unique...

National Assembly Consents CAC Reform Initiatives

Business4 years ago

National Assembly Applauds CAC Reform Initiatives

The National Assembly has lauded the reform initiatives of the Corporate Affairs Commission (CAC), which is geared towards enhancing the efforts of the federal government in...

FIRS, SystemSpecs Join Hands To Ease Tax Remittances

Business4 years ago

FIRS, SystemSpecs Join Hands To Ease Tax Remittances

SystemSpecs has collaborated with the Federal Inland Revenue Service (FIRS) to strengthen tax administration through its Remita Payment Gateway which powers payments on TaxPro-Max, a solution...

Naira Further Decline, Dollar Goes Giant at N535/$

Business4 years ago

Just In: Naira Exchanges For 503/$ At Parallel Market

According to the Bureau de Change operators, the naira exchanged to the dollar at 503 at the parallel market on Friday. Figures obtained from naijbdcs.com, the...

COVID-19 has wiped off 20 percent from the $25 billion annual diasporan remittance to Nigeria, said the Federal Government.

Business4 years ago

COVID-19 Wiped Off $5bn Diasporan Remittances – FG

COVID-19 has wiped off 20 percent from the $25 billion annual diasporan remittance to Nigeria, said the Federal Government. To hamper further wastage, the government noted...

The Lagos State chapter of the National Union of Road Transport Workers, generically called Agberos, generates on yearly basis an estimated sum of N123 billion, a report by the International Centre for Investigation Report has revealed. The revealed sum could service some states annual budget, including Yobe, Nasarawa and Yobe stateput together. It was gathered from the data which was released on Thursday morning that the huge sum of money was realized through levies on passenger vehicles, motorcycles and tricycle. A total of 75,000 buses, 50,000 tricycles and 37,000 motorcycles are recorded in the report. Other findings revealed that N3000, N600 and N1800 were levied on buses, motorcycles and tricycles respectively on daily basis. The accumulation of the levies showed N82.1bn for buses; N8.1bn for motorcycles and N32.9bn for tricycles yearly; making a total of N123.078bn annually. Weighing the balance, we took to street to speak with some of the agberos who confirmed the statement to be true. Shakiru who based at Ketu said “ We make more money than people who wear suit every day to office. In fact, we make some office people salary in days.” On operation, another agbero said “We get rooster. Some work in the morning, some in the afternoon and some in the evening, even till late hour. Although, it’s determined by our leaders.” However, some commuters and traders in Lagos have demonstrated concern over the operations of the agberos, as they operate without fear and at will. According to a commuter, “The agberos are the ones that decide how much a driver charges a passenger because of their own cut of the deal. We end up paying more for same journey, despite fuel is not cost or scarce.”

Business4 years ago

Just In: Lagos NURTW Makes N123bn Yearly – Report

The Lagos State chapter of the National Union of Road Transport Workers, generically called Agberos, generates on yearly basis an estimated sum of N123 billion, a...

Gas Flaring: Nigeria Loses N53.26bn In Two Months – NNPC

Business4 years ago

Gas Flaring: Nigeria Loses N53.26bn In Two Months – NNPC

In the first two months of this year, Nigeria has lost an estimated N53.26 billion as international and local oil companies flared a total of 33.04...

Business4 years ago

Binance Destroys $390m Worth of Tokens

Major cryptocurrency exchange, Binance has completed its 16th quarterly Binance Coin (BNB) burn, destroying over $390 million worth of BNB. On Sunday, Binance reported that it...