Senate assures SEC, NGX on capital market-driven reforms
The Chairman, Senate Committee on Capital Market and Institutions, Osita Izunaso has assured the commitment of the Senate in driving legislative reforms that would propel the Nigerian capital market to new heights. He made this promise when he led delegation’s…
NGX Raises learning with Latest StockTown Comic Book on Financial Literacy
Nigerian Exchange Limited (NGX) is pleased to announce the release of the latest edition of the NGX StockTown, a unique comic book designed to promote financial literacy among the younger generation of Nigerians. NGX StockTown is the realization of a…
EFCC recovers N30bn from Sadiya Umar-Farouk’s looted funds
The Economic and Financial Crimes Commission (EFCC) has said it recovered over N30bn from the N37,170, 855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under the former minister, Sadiya Umar-Farouk. Sources in the anti-graft agency, who spoke with our…
CBN Again, Hikes Import Duty By 42.5%
Twice in two straight months, the Central Bank of Nigeria (CBN) has raised customs duty from N951.941 per dollar to N1,356.883/$. This development requires that the importers raise more funds to clear their cargoes at the seaports, airports and landborders….
CBN hikes Int’l Money Transfer Application Fee for Banks, Fintechs
The Central Bank of Nigeria (CBN) has barred banks and financial technology companies (fintechs) from international money transfer services with hike in application fee. The apex bank announced the new development in the revised guidelines for the operations of IMTOs,…
How To Grow Your Business, Make More Money with PalmPay
Considering current e-Commerce realities, the right financial tool can gravitate from the more technical accounting software and payroll management tool to the less complicated but secure digital payment platform and Point of Sales (POS) machine. Big on secure digital payments,…
Stanbic IBTC Holdings posts impressive earnings growth
Stanbic IBTC Holdings (STANBIC) has released its FY 23 unaudited results, showcasing Pre-tax profit growth of 72.4% y/y, and Net profits climbing by 76.4% y/y to N137.58bn, marking the highest increase over the past five years. In Q4 23 alone,…
FBN Holdings Plc reports remarkable 128.3% y/y surge in EPS
FBN Holdings Plc (FBNH) released its unaudited results for 2023FY on Thursday, revealing a remarkable 128.3% y/y surge in EPS (2023FY: NGN8.56 vs 2022FY: NGN3.75). The substantial increase in the Holdco’s earnings is attributable to a significant 10.8x growth in…
Lagos Extends Deadline For Annual Tax Returns To February 7
In view of the recent downtime experienced on the e-tax portal, the Lagos State Internal Revenue Service (LIRS) has extended the filing of employers’ annual tax returns by 1 (one) week starting from February 1 to February 7, 2024. Mr….
See list of CBN Departs. Heading to Lagos from Friday
From Business Hilights findings, listed hereunder are departments the Central Bank of Nigeria relocating to Lagos from Friday, Feb. 2nd, 2024. Banking supervision Other financial institutions supervision Consumer protection department Payment system management department Financial policy regulations department.
