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Daily Business News Brief | Friday, June 3rd, 2022.


Bank customers to produce indemnity for online transfers above N1m – CBN – Thisday

The Central Bank of Nigeria has ordered banks and Payment Service Providers to accept indemnity from customers for highly secured online funds transfers.  It stated this in a circular signed by the Director, Payments System Management Department, Musa Jimoh, with the reference number: PSM/DIR/PUB/CIR/01/006, titled ‘Circular on the review of operations of the NIBSS Instant Payments System and other electronic payment options with similar features’, which was released on Thursday………………read more

Nigeria must increase productivity to improve naira value – Thisday

Nigeria must increase its productivity and change consumption patterns to shore up the value of naira.

This was among the consensus reached by experts at a one-day roundtable on national issues organised by Development Specs Academy in Abuja.  Speakers at the occasion included the convener, Dr Okey Ikechukwu, a former spokesperson for the Nigerian Army, Brigadier Sani Usman (retd.); Rev.Fr. George Ehusani, Prof Jim Unah, Dr. Amaechi Anakwue, Prof. Christopher Ogbogbo, Dr. Amara Albert, Dr. Hyeladi Haruna, Dr Amaechi Anakwue, among others……………read more

CITN partners govts, others on tax compliance – Punch

The Chartered Institute of Taxation of Nigeria has said it is engaging partnership with the government and other professional bodies to boost tax compliance and development in the country. The president, CITN, Mr Adesina Adedayo, said this during the institute’s 30th annual general meeting in Lagos, which was widely attended physically and virtually by its members…………..read more

Fuel queues return to Abuja, motorists flay NNPC, FG – Punch

Fuel queues returned to the Federal Capital Territory on Thursday as motorists spent hours at filling stations waiting to buy the Premium Motor Spirit, PMS.  This is the third time that Abuja, Nigeria’s political headquarters, will be experiencing gasoline scarcity in 2022…………..read more

GSK Nigeria Shareholders Approve 45kobo Dividend, Applaud Management  – Daily Independent

The shareholders of GlaxoSmithKline Consumer Nigeria Plc have approved a 45kobo dividend payout to shareholders, an increase of 11.11 per cent from the 40 kobo dividend declared in 2020 financial year …………….read more

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