The after-tax profit of Sterling Financial Holdings Company Limited, a financial institution in Nigeria, rose by 82.9 per cent in the first three months of 2024, according to its latest financial statement. The group reported an after-tax profit of N7.5 billion in Q1’2024 from N4.1 billion in the first quarter of […]

Kimberly Clark, the manufacturer of Huggies diapers, and other sanitary pads, is set to announce a shutdown of its Ikorodu production facility three years after investing $100 million in Nigeria. According to sources, the plant has been producing below capacity since late 2023 into 2024 due to the harsh economic […]

The Federal Government (FG) has signed into law the withholding tax bill proposed by the presidential fiscal policy and tax reforms committee which exempts manufacturers and small businesses from paying the tax. This was disclosed by Taiwo Oyedele, chairman of the Committee, who spoke with journalists Thursday in Lagos. “We […]

Nigeria may add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited and ExxonMobil took a step towards resolving the disagreement surrounding the sale of the latter’s asset to Seplat Energy. On Thursday, the NNPCL confirmed it had signed a settlement agreement with ExxonMobil companies […]

Hon. Justice Olufunke Anuwe of the Abuja Judicial Division of the National Industrial Court has declared the purported dismissal of Senior Inspector of Corrections, Ebute Christopher from the service of the Nigerian Correctional Service as published in the Controller General of Corrections Radio Message dated 28th day of March 2022 […]

Governor Sanwo-Olu who spoke at the ongoing Justice Reform Summit organised by Lagos State Judiciary with the theme: “Enhancing the Administration of Justice for Economic Growth, Investment Protection and Security in Lagos”, explained that it was a legal anomaly for the FG to join Lagos in the Supreme Court matter, […]

According to recent data from financial markets, the Nigerian Naira appreciated significantly yesterday in both the parallel market and the Nigerian Autonomous Foreign Exchange Market (NAFEM). In the parallel market, the Naira strengthened to ₦1,500 per US dollar, up from N1,525 on Monday. This improvement in value reflects a significant recovery, easing […]

Nigerian digital bank for small businesses, Brass, has been acquired by an investment group led by Paystack. PiggyVest, Ventures Platform, P1 Ventures, and angel investors, Olumide Soyombo and Oo Nwoye complete the group. This acquisition will see the company’s co-founders, Sola Akindolu and Emmanuel Okeke, exit the business. This acquisition […]

The Tripartite committee on minimum wage has postponed its meeting “sine die”, sources familiar with the matter told our correspondent in Abuja on Tuesday. According to Merriam-Webster dictionary, sine die means a situation, “without any future date being designated (as for resumption): indefinitely.” Legal choices, a law website also describes […]