Tuesday, November 30

Tag: Nigerian Business

Shoprite Sells Nigerian Business To Property Company
Business

Shoprite Sells Nigerian Business To Property Company

A Nigerian property company will be taking over Shoprite’s local business in Nigeria, Reuters reported on Wednesday, citing multiple sources. Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details about the deal have been disclosed. The company in August 2020 announced that it will be exiting the Nigerian market after over 15 years. Shoprite said that its business in Nigeria operated under Retail Supermarkets Nigeria Limited “may be classified as a discontinued operation.” The company said it has been approached by potential investors willing to...
MTN Is Not A Nigerian Business, Lists Share Holders – Femi Fani-kayode
Politics

MTN Is Not A Nigerian Business, Lists Share Holders – Femi Fani-kayode

Former minister of aviation, Femi Fani-Kayode, FFK, has released a list to prove that MTN is not a Nigerian business. Femi Fani-Kayode released the list on Twitter in the heat of retaliatory Xenophobic attacks on MTN installations in Nigeria. He tweeted: For those who say MTN is a Nigerian business KNOW THIS: MTN International holds approximately 70% of the shares. The largest shareholders of MTN Nigeria and their stakes: 1. MTN International (Mauritius) Limited Stake: 76.08%. Worth: N1.68 trillion. (1/2) 2. Stanbic IBTC Assent Management Limited. Stake: 9.64% Worth: N213.7 billion 3. Victor Odili Stake: 3.96% Worth: N87.87 billion 4. Mobile Telephone network Stake: 2.75% Worth: N60.95 billion 5. Government Employees Pension Fund Stake: 1....
The Average Nigerian Business Pays 48 Taxes – Tony Elumelu
Uncategorized

The Average Nigerian Business Pays 48 Taxes – Tony Elumelu

Tony Elumelu, Chairman and founder of Heirs Holdings has revealed that the average Nigerian business pays 48 taxes. The UBA Chairman who decried the plight of the average Nigerian entrepreneur, saying that an average business was a local government authority providing his own electricity, water and waste disposal method, called for a far-reaching tax reforms and an urgent need to pass the executive tax bill. Tony Elumelu who revealed that the average Nigerian business pays 48 taxes while delivering a keynote address at the 21st annual tax conference of the Chartered Institute of Taxation of Nigeria on Thursday, added that the government should make life easier for Small and Medium Enterprises by creating favourable tax policies that will support them. He called on the government to ...

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