World's richest 2,000 people hold more than poorest 4.6 billion combined - Oxfam
The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to...
VAT has been increased to 7.5 percent. Here are items exempted from the new rate
The presidency has listed certain items exempted from Value Added Tax (VAT) by the Finance Act 2019. The act recently became law after it was signed by President Muhammadu Buhari....
Border closure, CBN’s support for farmers have reduced foreign rice in Nigerian market by half - Report
The interventions of Nigerian Customs Service (NCS), through the partial border closure against smuggling, and Central Bank of Nigeria (CBN) via the Anchors Borrowers Programme (ABP) on the rice sub-sector...
Bill Gates on spending his $110 billion: ‘How many hamburgers can you eat?’
Catherine Clifford The good thing about having a lot of money is that you can buy your own plane. The challenging thing about having a lot of money is that...
How to know if you're intimidating employees (and how to stop it)
Take a step back from being the scary boss. You’re not one to intimidate employees. You lead by example, strive for a collaborative environment and value input from your staff....
Nigerians buying American assets, stocks - Report
Financial technology, (fintech) start-ups are helping a generation of young Nigerians to invest in American stocks and assets easier than ever before. These fintech platforms, according to a report by...
Capital flight: Foreign investors withdrew N482bn in 11 months –NSE
Foreign Portfolio Investors withdrew a total of N481.96bn from the stock market between January and November 2019. The latest data obtained from Nigerian Stock Exchange showed that the N481.96bn was...
US and China sign deal to ease trade war
The US and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy. Speaking in Washington, US President Donald...
10 mistakes that rich and successful people never make, according to these self-made millionaires
Learning from the mistakes of others can make a big difference in helping you to achieve greatness and wealth in life. That's why we asked 10 self-made millionaires and Advisors...
Nigerian Stock Exchange posts best performance globally
The nation’s equities market, last week, recorded the largest weekly returns in two-years to become the world’s best performing stock market for the week. Specifically, Nigerian Stock Exchange (NSE) All-Share...
Behind the hype, is Dangote’s refinery a game changer?
In December 2019, an ambitious refinery project in the remote Ibeju-Lekki suburb of Lagos, Nigeria, took delivery of the world’s largest single crude distillation column, to much fanfare. After years...
Angola has frozen personal assets of Africa’s richest woman. This is why
Chidinma I. Nwoye When an Angolan court froze the assets of Isabel dos Santos, Africa’s richest woman it was widely seen as the strongest signal the country’s president, Joao Lourenço’s...
Why you should think twice before saying 'Thank You' in a business email
Be specific about what you're thankful for. We thank people all the time. We thank them in person, on the phone, and in emails. It's a social custom. Good graces....
MTN withdraws ‘tax dispute’ suit against FG
MTN Nigeria Communications Plc on Friday said its case with the federal government over alleged revenue indebtedness of N242.24 billion and $1.28 billion had been withdrawn. MTN stated this in...
BUA Cement listing boosts NSE with N1.18trn, emerges third largest listed company
BUA Cement Plc achieved a feat on Nigerian Stock Exchange (NSE) with the listing 33.86 billion ordinary shares at N35 per share, emerging as the third largest company on the...
Dangote acquiring office in New York to diversify wealth
Aliko Dangote, Africa’s richest man, plans to take office space in New York to help diversify his investments and avoid the risk of currency fluctuations on his home continent. The...
Oil slips as focus shifts from Iran tensions to U.S. crude stocks
Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an...
Oil revenue may decline as IOCs move to divest from Nigeria
The nation’s oil and gas sector may not get a much-needed revamp this year as a number of international oil companies operating in the country look set to divest more...
Nigeria’s GDP growth remains sluggish at 2.1 percent in 2020 - World Bank
World Bank Group, yesterday, raised Nigeria’s growth expectations in 2020 to 2.1 per cent, describing it as an “edge up”, a development that confirms the country’s continued stay in sluggish...
Miyetti Allah bans night grazing nationwide
Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) yesterday banned night grazing nationwide as part of measures to curb the perennial clashes between herders and Farmers. National Secretary of MACBAN...
Oil, stocks, gold zigzag as Iran strikes push Mideast to brink
Financial markets were roiled on Wednesday after Iran fired missiles at U.S. forces in Iraq, sending Asian stocks and U.S. Treasury yields sliding and sharply lifting oil prices as investors...
Nigeria’s foreign reserves drop to two-year low
Nigeria’s foreign exchange reserves have hit two-year low at $39.84 billion, an Economic Report by Financial Derivatives Company Limited, has shown. The report also said that quarterly oil revenue could...
Companies with less than N25m turnover will no longer pay tax - FG
The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax. Currently, all companies are expected...
Why heroic efforts are damaging your company’s growth
Dependence on Talent over Systems can Stall Your Growth One of the things we celebrate, particularly in entrepreneurial organizations, is the last-minute effort a person or a team puts in...
Oil surges again after Trump threatens Iraq sanctions, Iran retaliation
Oil prices shot more than 2% higher on Monday, with Brent rising above $70 a barrel, after U.S. President Donald Trump issued a threat to impose sanctions on Iraq amid...
5 lifestyle changes to make if you want to get rich in 2020
If your're looking to build more wealth in 2020, money won't simply appear — you're probably going to have to make some changes to reach your goals. Here are five...
FG reviews electricity tariffs for power distribution companies, freezes hike till April
Nigerian Electricity Regulatory Commission (NERC) has published a reviewed power tariff for December 2019 with no hike for customers of the 11 Distribution Companies (DisCos) until April 2020. NERC, in...
Oil, safe havens surge after U.S. strikes kill Iran commander
Oil prices surged as much as $3 a barrel as gold, the yen and safe-haven bonds all rallied on Friday after the U.S. killing of Iran’s top military commander in...
Boko Haram, herdsmen undermining food production in Nigeria - World Bank
Boko Haram insurgency and herdsmen attacks in parts of the country undermined the growth of Nigeria’s agricultural sector, according to a report released by the World Bank. Federal Government’s Economic...
FG orders Discos to stop collecting cash from electricity consumers
Federal Government has ordered power distribution companies to migrate to cashless settlement platforms with respect to collection of electricity bills from residential, industrial and commercial customers. It stated that the...
Want to motivate your employees in the new year? Foster a sense of community with these 5 tips
If you want your employees to do their best work, use these tips to enhance social connectivity at the office. With what can be years of work ahead of you,...
Nigeria’s stock market ends 2019 in red
With today being the last day of trading this year, it is almost certain that transactions on Nigerian Stock Exchange (NSE) will close in the red zone. The outgoing year...
FG-owned refineries process no drop of crude oil in 3 months, incur loses for 13 months
Refineries under the management of Nigerian National Petroleum Corporation stayed dormant for three consecutive months as they processed no drop of crude oil, latest report on the operations of the...
FIRS eases process to obtain Tax Clearance Certificate
Federal Inland Revenue Service (FIRS) yesterday announced a new Tax Clearance Certificate (TCC) regime. In a public notice signed by its Chairman, Mr Muhammad Nami, the service granted eligible taxpayers...
The rich get richer still: $1.2 trillion added to their wealth in 2019
The leveraging of a giant social-media presence, a catchy tune about a family of sharks and a burgeoning collection of junkyards are just a few of the curious ways that...
The scientific case for hiring a narcissist
Craig Wallace When it comes to hiring, most managers want applicants who are not only smart, conscientiousness and collaborative, but also humble, honest and considerate. If you are nodding your...
‘Mr Cement’, Joseph Makoju retires as Dangote Cement GMD
Group Managing Director/CEO , Dangote Cement Plc, Mr Joseph Makoju, will retire as GMD/CEO effective January 31, 2020, a position he has held since 2018; according to a report from...
Oil hits three-month highs
Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end...
Railway Corporation finalises e-ticketing for train rides
Nigerian Railway Corporation (NRC) says the corporation would soon introduce e-ticketing for train services across the country. Mr Fidet Okhiria, NRC Managing Director, announced on Thursday in Abuja that the...
FG warns merchants against charging consumers N50 stamp duty on PoS transactions
Federal Competition and Consumer Protection Commission on Tuesday stopped the additional N50 charge currently imposed on transactions conducted through Point of Sales Terminal. FCCPC issued the directive in a statement...