Business
Business

Buhari Signs Amended Companies & Allied Matters Bill into Law

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By Chris Udochukwu Abuja (Precise Post) – President Muhammadu Buhari has Signed the much-anticipated Amended Companies & Allied Matters Bill After 30 Years “President’s action on this historic legislation, therefore, repealed and replaced the extant Companies and Allied Matters Act, 1990, with corporate legal innovations.” Disclosing this via his verified twitter handle, Ajuli Ngelari tweeted that this is geared toward enhancing ease of doing business …

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Business

See How Much Zuckerberg Of Facebook Now worth

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Abuja (Precise Post) – Mark Zuckerberg personal wealth has hit $100 billion (£76 billion), 16 years after he co-founded Facebook from his university dorm room. He joins Amazon’s Jeff Bezos and Microsoft’s Bill Gates in the “Centibillionaire Club”. The latest boost to Zuckerberg’s wealth came after Facebook launched a new short-form video feature on Wednesday, SkyNews reports. Instagram Reels is a rival to Chinese app TikTok and …

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Business

Petroleum:Nigerians Spent N2.37tn In 13 Months – NNPC

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Okechukwu Nnodim Abuja (Precise Post) – Nigerians spent N2.37tn on petrol imported into the country by the Nigerian National Petroleum Corporation in 13 months, data released by the corporation have shown. The corporation said on Wednesday that its total revenue generated from the sales of white products for the period May 2019 to May 2020 stood at N2.39tn. It disclosed that petrol contributed about 98.84 …

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Business

COVID-19:Toyota Expects 64% Fall In Annual Net Profit

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Tokyo (Precise Post)- Toyota Motor forecasts its net profit for the current financial year will drop 64.1 per cent from the previous year to 730 billion yen ($6.9 billion) due to the fallout from the COVID-19 pandemic, it said on Thursday. Japan’s largest carmaker maintained its operating profit outlook at 500 billion yen and sales are estimated at 24 trillion yen for the year ending March …

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Business

COVID-19: Pilots, Engineers Threaten Strike Over Mass Sack

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Abuja(Precise Post) – The National Association of Aircraft Pilots and Engineers has issued a two-week ultimatum to airlines, who have sacked or plan to sack their pilots and engineers under the guise of COVID-19, to reverse the decision. It’s President, Mr Abednego Galadinma, at a news conference on Wednesday in Lagos, said pilots and aircraft maintenance engineers had resolved to withdraw their services to all …

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Business

COVID-19: Bristow Sacks 100 Pilots, Others

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Joseph Olaoluwa Abuja (Precise Post) -The management of Bristow Helicopter has sacked over 100 pilots and engineers – both National and Expatriates due to the impact of COVID-19 in the sector. This is coming on the second day of the industrial strike action embarked upon by its workers under the aegis of the National Association of Aircraft Pilots and Engineers who were demanding equitable salary …

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Business

Sad! Air Peace sacks 70 pilots, cuts salaries by 40%

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 Abuja (Precise Post) – The sacking of the pilots is a “painful but rightful decision” according to Stanley Olise, the spokesperson of the airline. Part of the statement read, “The airline cannot afford to toe the path of being unable to continue to fulfil its financial obligations to its staff, external vendors, aviation agencies, maintenance organisations, insurance companies, banks and other creditors, hence the decision …

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Business

We’re Not Leaving Nigeria – Shoprite Reacts To Exit Rumour

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Abuja (Precise Post) – Following media reports about its purported exit, Shoprite has issued a statement. ShopRite Nigeria has reacted to the story making the rounds that it intends to close shop in Nigeria. Recall that Punch had today stated that the company had concluded plans to exit the country. However, Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard said they are …

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Business

Shocking! Shoprite Moves to Wind Up Business in Nigeria

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… Shehu Sani says it Will Help Local Supermarkets to Grow By Chris Udochukwu Abuja (Precise Post) – Fifteen years after operations in Nigeria, Shoprite, one of Africa’s biggest grocery retailer, has indicated plan to wind up its business in the country. The company disclosed this in a statement titled: “Operational and Voluntary Trading Update (52 Weeks Ended June 28, 2020), made available to newsmen …

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Business

COVID-19: Charter Airlines Ignores Flight Ban, Fly Rich Nigerians Abroad

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Okechukwu Nnodim and Olaleye Aluko Abuja (Precise Post) –Amid COVID-19 pandemic, some charter airlines have begun offering services to members of the public even when the ban on international flights by the Federal Government has not been lifted. It was also learnt that some commercial flights that were contracted by foreign missions to evacuate stranded citizens from Nigeria were also being used to convey passengers at an …

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Business

Abuja-Kaduna Train Service Resumes July 29 Amid Covid-19 Pandemic – FG

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By Lucy Ogalue Kaduna(Precise Post) -Minister of Transportation, Rotimi Amaechi, said the Abuja -Kaduna rail service would resume on July 29 inspite of the on-going Coronavirus (COVID-19) pandemic. Amaechi disclosed this while test running the new coaches recently deployed on the route on Saturday. The News Agency of Nigeria(NAN) reports that the train services were shot down to curtail the spread of COVID-19 in the …

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Business

Unbelievable! This 13-Year-Old Boy Made N6 Million In Just 3 Days After Doing This

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Abuja(Precise Post)- A 13-year-old genius Christon Jones, also known as The Truth, successfully made N6 million aside his business in stock market trading. Christon ‘The Truth’ Jones, an investor and stock market prodigy, has been able to make the dollar equivalent of N6 million from just teaching adults how to trade in the stock market. According to a report sighted on Blackbusiness.com, the 13-year-old actually …

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Business

Shocking! AMCON MD In Trouble Over Keystone Bank Acquisition By Father In-law

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….Why Bank Customers Are Making Panic Withdrawals… Abuja – In view of the alleged acquisition of Keystone bank and Etisalat by Alhaji Isa Funtua and the CEO of AMCON, Ahmed Kuru, President Mhammadu Buhari has ordered probe into the alleged fraud. Recall that the alarm by the opposition party, the People’s Democratic party, PDP, gave rise to controversy. A highly placed source at the headquarters …

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Business

FIRS Releases Guide to Stamp Duty Rates, Others

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By Our Reporter Abuja (Precise Post) – The Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty. The clarification was contained in a statement signed by the Director Communications and Liaison Department of the FIRS, Mr Abdullahi Ahmad, made available to newsmen in Abuja on Tuesday. Ahmed said that the clarification was …

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Business / News

Just In:Lagos Doctors Suspend 3 Days Warning Strike

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Abuja(Precise Post)- Striking medical doctors in Lagos have called off its three days warning strike. The doctors had on Monday embarked on a warning strike over wage disparity between the federal government doctors and state, non-payment of hazard allowance, disengagement of doctors at the isolation centres and two months salary arrears. The Chairman, Medical Guild, Dr Oluwajimin Sodipo, who spoke to Vanguard said the decision …

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