Business

The Central Bank of Nigeria (CBN) has approved a new code of corporate governance which specified that the tenure of a bank’s managing director or chief executive officer (CEO) can only last for a maximum of 12 years. The CBN made the disclosure in a circular dated July 13, 2023,...

The Central Bank of Nigeria (CBN) has announced the inclusion of the naira, the country’s legal tender, as a payout option for diaspora remittances. The apex bank also directed that the investors and exporters (I&E) window foreign exchange rate should be used in determining the rate for such naira payout....

Max Air, one of the leading airlines in Nigeria, has been put on hold as a result of a suspension by the Nigeria Civil Aviation Authority (NCAA). In a letter NCAA/DG/AIR/11/16/363, NCAA directed the suspension of Parts A3 and D43 with regards to the operation of Max Air’s Boeing 737...

Not all land borders shut by the Federal Government across Nigeria in 2018 have been reopened, the acting Comptroller General of the Nigeria Customs Service, Wale Adeniyi, has said. He said only six strategic land borders were reopened in 2021. Adeniyi stated this on Tuesday after a private meeting with...

Governor Muhammadu Umaru Bago intends to propel the development of the state to improve the livelihood of the residents. To do this it is imperative to block leakages and identify creative ways to improve the Internally Generated Revenue (IGR) of the state. This developmental process would be difficult without the...

Digital transformation (DX) remains an essential part of the business landscape in South Africa as companies across all industries digitalise and automate business processes while leveraging data to create value, improve decision-making and enhance strategic planning. A recent IDC survey found that 58% of CIOs in South African organisations with...

President Bola Tinubu has assured the manufacturing and service sectors that more reforms will be unfolded to enable efficiency and attract investments into the country. The President explained that the ongoing economic ‘‘revolution’’ will be deliberately steered to capture and favor teeming youths in the country. “We have a responsibility...

Months after the Maritime Workers Union of Nigeria requested that terminal charges be reviewed upwards, Ports & Terminal Multipurpose Limited has announced a 36 per cent increase in tariff on imported vehicles with effect from July 1. In a public notice sighted by our correspondent on Tuesday, signed by the...

The Senate has strongly condemned the hurried concessioning of the Aminu Kano International Airport and Nnamdi Azikiwe International Airport by the Federal Government six days to the expiration of ex-President Muhammadu Buhari’s administration. The Senate also called on its Committee on Aviation, when constituted, to probe all airport concessions embarked...

President Bola Tinubu has signed four Executive Orders one of which is the suspension of the five per cent Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products. President Tinubu also signed The Customs, Excise Tariff (Variation) Amendment Order, 2023, shifting the commencement...