PM News Nigeria


N100m Tax Debt: FIRS seals two firms in Abuja

FILE PHOTO: FIRS officials at NICON Luxury Hotel Abuja

The Federal Inland Revenue Service, Thursday, sealed the offices of two Abuja-based firms over tax liabilities totalling N100.8 million. The affected companies are Eurobond Construction Company Limited, which owes N70.9m for 2014 and 2015; and Design and Build Limited, indebted to the tune of N29.95m for 2014 and 2015. The enforcement exercise is part of […]

CBN directs banks to sell forex to BDCs

Godwin Emefiele, CBN governor

The Central Bank of Nigeria (CBN) has directed agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators (BDCs). The directive is in a circular with reference number, “TED/FEM/ FPC/GEN/01/004, dated July 22, 2016 and posted on its Website’’. The circular by […]

Police recover N60m stolen by bullion van driver

The bundles of Naira recovered by the Rivers State Police Command

Okafor Ofiebor/Port Harcourt Rivers State Police Command says it has recovered the N60m stolen from a bullion van last Friday. It also vowed to smash the syndicate behind the theft. The driver of the bullion van working for Bullion Van Company allegedly made away with the money with other members of his syndicate. The deputy […]

Naira weakens against dollar

Nigeria's currency, the naira

The Naira on Monday weakened slightly against the dollar at the parallel market. The Nigerian currency shed 1 point to trade at N353 by midday, from N352 it traded on Friday. However, the Naira hedged against the Pound Sterling and the Euro as it traded for N460 and N383, from N465 and N385 it traded […]

Nigeria, South Africa trade volume hit N1.3 trillion

President Jacob Zuma of South Africa and President Muhammadu Buhari of Nigeria oversee two of Africa's biggest economies

The volume of trade between Nigeria and South Africa rose to N1.3 trillion about (R.62 billion) in 2015, the South African High Commissioner to Nigeria, Mr Louis Mnguni, announced late on Tuesday. Mnguni made the disclosure at a ceremony to mark the South African Freedom Day in Lagos, saying that trade between Nigeria and South […]

SEC bans BGL Managing Director, deputy from capital market activities

The Securities and Exchange Commission (SEC) on Thursday banned Mr Albert Okumagba, BGL Managing Director and his deputy, Mr Chibundu Edozie, from participating in capital market activities for 20 years. This is contained in a circular posted on the commission’s web site. The circular is entitled “SEC Administrative Proceedings Committee (APC) gives its decision on […]

Oil drifts lower on stronger dollar

Oil dipped Tuesday as a stronger US dollar and progress in controlling wildfires in Canada’s crude-producing Alberta province dampened prices. At around 1100 GMT, US benchmark West Texas Intermediate for July delivery was down 20 cents at $47.88. Brent North Sea oil, the European benchmark, for July delivery slid 29 cents at $48.06. “Crude prices […]



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