Vitafoam proposes 70k dividend; holds AGM

Vitafoam proposes 70k dividend; holds AGM   Vitafoam Plc has announced plans to hold virtual Annual General Meeting. The virtual meeting and 59th in the series, is scheduled on March 4. The board has also proposed a dividend of 70 kobo per share as against 42 kobo paid in the preceding year. This translates to a dividend yield of eight per cent at the company’s current share price on the Nigerian Stock Exchange, according to a statement issued by the company on Wednesday. The notice of the meeting signed by…

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Post-MPC Meeting: Investors shed caution mode, as NGSE index climbs higher

MPC

By Investdata Analysts Equity prices closed higher on the Nigerian Stock Exchange (NSE) at midweek as buying pressure increased as if to confirm that investors were waiting to see whether the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) would pull a surprise at its first meeting of the year which ended on Tuesday. The exchange thereby extended the bull transition for a third successive session on a high traded volume and positive sentiment for Telecoms, Insurance, Banking, Industrial and consumer goods stocks, which pushed the composite…

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Nigerians pay N427.71bn VAT to govt in Q4 2020

Value Added Tax

Nigerians pay N427.71bn VAT to govt in Q4 2020   The Aggregate Value Added Tax (VAT) paid by Nigerians to the government in the fourth quarter of 2020 (Q4 2020) stood at N454.69 billion, N29.98 billion higher than N424.71 billion recorded in the previous quarter, Q3 2020. This is disclosed by the National Bureau of Statistics (NBS) in its “Sectoral Distribution of Value Added Tax (Q4 2020)” obtained from its website on Wednesday. The bureau said the figure represented 7.06 per cent increase Quarter-on-Quarter and 47.39 per cent increase Year-on-Year…

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Investors gain N181bn as equities sustain uptrend

Equities

Investors gain N181bn as equities sustain uptrend Wednesday was another day for investors in the Nigerian equities market to smile all the way to the bank following another wave of profit recorded at the end of the midweek trading session. As bullish sentiments persisted in the domestic equities market, market capitalisation gained N181 billion to close at N21.934 trillion. Similarly, the All-Share Index that measures share price movement in the market advanced by 0.83 per cent to 41,930.73 basis points following investors’ interests in bellwethers. The positive record of the…

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Feats in telecoms sector earn Danbatta Man of the Year Award

Feats in telecoms sector earn Danbatta Man of the Year Award   Achievements in the Nigerian telecoms sectors have yet brought home another recognition to Umar Danbatta, the executive vice chairman and chief executive (EVC/CEO) of the Nigerian Communications Commission (NCC). The EVC has just received the prestigious “Man of the Year 2020” award from the Publishers of MoneyReport Magazine. The award was presented to the EVC at the Commission’s Headquarters in Abuja, on Tuesday by the Board Chairman, MoneyReport and former Director-General of the Nigerian Stock Exchange (NSE), Ndi Okereke-Onyiuke.…

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NBS: Nigeria rakes in N295.72bn company income tax in Q4 2020

Company Income Tax

NBS: Nigeria rakes in N295.72bn company income tax in Q4 2020   Nigeria recorded a total sum of N295.72 billion as Company Income Tax (CIT) in the last quarter of 2020, the National Bureau of Statistics (NBS) has revealed. In is observed in the just released Sectoral distribution of Company Income Tax (CIT) data for Q4 2020 by the NBS that, the sum fell by 28.91 per cent from N416.01 billion generated in Q3 2020 and 18.31 per cent lower  year-on-year compared with N362.01 billion generated in Q4 2019. According…

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How to address data privacy concerns in the workplace and …

Data Privacy

How to address data privacy concerns in the workplace and …   By Andrew Bourne  As businesses look to overcome the challenges of 2020, they’ll have a number of goals in mind. For some, it will be about survival while others will work towards rebuilding and reversing any losses they might have made in 2020. Whatever state a business finds itself in this year, it cannot afford to ignore data privacy as a key priority especially, now that global and local news networks are covering online privacy quite extensively. In…

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Air Peace begins flights to Ilorin, Ibadan, others in February

Air peace

Air Peace begins flights to Ilorin, Ibadan, others in February   One of Nigeria’s leading airlines, Air Peace, has said it would open more domestic routes and resume suspended ones as part of its route expansion drive. The new routes to be launched in February 2021 are: Enugu-Kano-Enugu, Enugu-Asaba-Enugu, PHC-Kano-PHC, PHC-Kaduna-PHC, Ilorin-Lagos-Ilorin, Ilorin-Abuja-Ilorin and Ibadan-Abuja-Ibadan. The suspended routes to be resumed are Kano-Owerri-Kano, Kano-Asaba-Kano, Lagos-Yola-Lagos and Abuja-Yola-Abuja. Oluwatoyin Olajide, the airline’s chief operating officer, who revealed this, stated that the airline will be receiving all its aircraft on overseas maintenance…

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NSE authorises LASACO Assurance to restructure shares

LASACO Assurance

NSE authorises LASACO Assurance to restructure shares   LASACO Assurance Plc has said the Nigerian Stock Exchange (NSE) has authorised the company to reconstruct its issued and fully paid-up share capital of 7,334,343,421 ordinary shares of 50 kobo each in the ratio of one new ordinary share for every four ordinary shares previously held by the shareholders. It said this in a statement by its Company Secretary, Gertrude Olutekunbi, on Tuesday titled “Notice of share reconstruction’. The company said this followed the approval of its shareholders at its 39th annual…

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You can’t fly Lufthansa flights with fabric face masks on again!

Lufthansa Flights

You can’t board Lufthansa flights with fabric face masks on again!   Lufthansa has specified the type of face masks that passengers on its flights are allowed to wear while flying with the airline from February 1. In a press statement titled ‘Adjustment of the facemask obligation as of February 1’, the company asked customers to use only FFP2, KN95 and N95 standard face masks or surgical masks. In the travel advisory issued on Monday on its website, it said masks made with fabric would no longer be permitted. Part…

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