Deloitte Nigeria has reiterated its commitment to making an impact that matters for its people, clients, and society. The firm will be offering free expert consultations to over 400 SMEs through a Business Clinic on Tuesday, May 30, 2023. The Business Clinic is part of Deloitte’s efforts to live out its mantra of a purpose …
Across Nigeria, anticipation is building around the launch of the new Dangote oil refinery, set to begin operation in a few days. With an estimated cost of $18 billion, the refinery is expected to reduce oil import dependence by up to 36 percent. By processing 650,000 barrels of crude oil daily into refined petroleum products, …
CBN bows to the Supreme Court’s order After six long weeks of naira swap tussle, the Central Bank of Nigeria (CBN) finally bows to the Supreme Court’s order to extend the deadline for the use of old naira notes to December 31, 2023. Nigerian residents can now do business with the old banknotes of N1,000, …
eNaira, Nigeria’s Central Bank Digital Currency (CBDC) and the first to be issued in the world, is failing to live up to expectations in terms of boosting remittance and improving the informal economy. This is despite huge investments from the Central Bank of Nigeria in pushing awareness of digital currency in the public space. A …
Meta, the parent company of Facebook, WhatsApp, and Instagram has been issued a $1.3 billion fine and asked to suspend the transfer of user data from the European Union (EU) to the United States, by Ireland’s Data Protection Commission (DPC). The DPC regulates Meta across the EU and the fine is a record for a …
Instagram Meta-owned Instagram is planning to launch a text-based app similar to Twitter that allows users to create posts with text, and attach links, photos, and videos. It is a stand-alone app that is likely to go live in June according to Lia Haberman, professor of social and influencer marketing at UCLA and author of …
The continued decline in Nigeria’s external reserves despite high oil prices is adding fuel to investors’ fears as it threatens to exacerbate the scarcity of foreign exchange in Africa’s biggest economy. When the incoming government of Bola Tinubu takes over next Monday, one of the most critical tasks it will face is the management of …
Nigeria’s external reserves have been on a downward trajectory in recent months, driven by low inflows from crude oil sales and foreign capital. The reserves, which gives the Central Bank of Nigeria (CBN) the firepower to defend the naira, declined by 12.70 percent to $35.19 billion as of May 19, 2023 compared to $40.31 billion …
The work ahead for Nigeria’s President-elect Bola Tinubu requires him to set up a team almost as flawless as the treble-chasing English premier league team, Manchester City. He will also need to be just as ruthless as manager Pep Guardiola or even more, after all governing Nigeria is a more difficult task than winning the …
Launched on June 29, 2017 by President Muhammadu Buhari’s government during a well-attended event at the State House Conference Centre of the Presidential Villa in Abuja, the Voluntary Assets and Income Declaration Scheme (VAIDS) – a tax amnesty programme – sought to boost the country’s very low tax base and shore up revenues. VAIDS is …