“Our financial performance in Q3 was strong as we delivered double-digit revenue growth in both reported and constant currency. Revenue growth accelerated in Q3 to 14.2% as a result of improved performance in the Rest of Africa, supported by solid results in Nigeria and East Africa. This is now the eighth consecutive quarter that we…
DetailsTuesday, January 28, 2020 Discos to reflect 7.5% VAT on transactions Feb 1 There are indications that power distribution firms across the country plan to reflect the new Value Added Tax of 7.5 percent on all their transactions from February 1, as announced by the Federal Government….read more. Stockbrokers jittery about…
DetailsThe Monetary Policy Committee (MPC) held its 271st meeting on the 23rd and 24th of January, 2020. The Committee noted the current environment of sluggish global economic recovery and financial market vulnerabilities, and tepid domestic growth. Highlights of the Committee’s decision: The Committee by a decision of 9 members, voted to alter the Cash Reserve…
DetailsMonday, January 27, 2020 Four ways to access pension benefits –PenOp There are four types of benefit payments under the Contributory Pension Scheme, the Pension Fund Administrators Association, has said. According to the operators, the benefits are normal retirement, annuity, death benefits and temporary loss of job….read more. 7.5% VAT implementation begins February 1 The…
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Friday, January 24, 2020 Buhari directs trade minister to set up agro-allied industry in 36 states The President, Major-General Muhammadu Buhari (retd) has directed the Ministry of Industry, Trade and Investment to establish agro-allied industry in each state of the federation…..read more. Lagos airport recorded 96,621 aircraft movements in 2019 The Murtala…
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Signed into law by President Muhammadu Buhari on 13th January 2020, the Finance Act (“the Act”) is the first of its kind in over two decades. Among other objectives, the Act seeks to promote fiscal equity, introduce incentives to encourage capital market and infrastructure investments, support small businesses and boost Government revenues. The star of…
DetailsThe first FGN Bond Auction for the year held yesterday, 22nd January, 2020 recorded an over subscription of more than 300%. Subscriptions received through competitive (N624.5b) and Non-competitive bids (N1.83b) totaled N626.33 billion. Following the auction, only N411.822 billion was allotted leaving N214.508 billion stranded. We expect a large portion of this stranded funds to…
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The need to preserve your wealth: lessons from Dangote “As of March 2019, he had an estimated net worth of US$10.6 billion. Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest man in Africa, and peaked on the list as the 23rd-richest person in the world as at 2014” Wikipedia Within 5 years he dropped from 23rd to 100th, What…
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