The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified the government's position on TINs on bank accounts.
Economy
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Dollar drops in value as naira soars in official and parallel markets, reserves hit $44.67bn
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Abia government begins payment of 20-year pension arrears: over N60 billion set to reach retirees
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Christmas countdown: Demand for physical cash hits new highs across Nigeria
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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NBS data shows amount Nigerians spend on healthy diet in a day
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Netflix shares sink as quarterly profit misses mark
Netflix shares sank on Tuesday after the streaming television powerhouse reported quarterly profit that fell short of market expectations. Netflix shares were down more than five percent to slightly more than $1,173 in after-market trades that followed release of the earnings figures.
OpenAI unveils search browser in challenge to Google
ChatGPT-maker OpenAI on Tuesday announced an "Atlas" search browser, leveraging its artificial intelligence prowess in a direct challenge to Google Chrome. Google shares were down slightly more than one percent in trading that followed OpenAI announcing Atlas. gc/bjt
Adidas hikes profit forecast as contains US tariff impact
German sportswear giant Adidas on Tuesday raised its 2025 earnings forecast after posting record third-quarter sales and saying it had limited the impact from US tariffs. He praised the company's teams for achieving record revenue in the third quarter.
Dodging Trump's tariffs, Brazil's Embraer lands record orders
Brazilian aircraft manufacturer Embraer on Tuesday reported a record order backlog in the third quarter of $31.3 billion after dodging the worst of US tariffs. The world's third-largest aircraft manufacturer hailed an "unprecedented high" in orders led by the commercial aviation sector with a backlog of 490 aircraft.
GM shares soar on better tariff outlook and EV backpedal
General Motors shares soared Tuesday after reporting strong results as it adjusts strategy over US President Donald Trump's tariffs and slashing of economic support for electric vehicles. On Tuesday, she thanked "the President and his team" for adjusting tariff policies, including a shift on Friday that lets the company offset some of the costs of tariffs on imported parts through 2030.
Ozempic-maker Novo Nordisk to shake up board
Denmark's Novo Nordisk said Tuesday it would replace more than half of its board, including the chair, as the Ozempic and Wegovy maker restructures in the face of rising competition for its anti-obesity treatments.
Hermes taps British designer to lead its menswear line
French luxury company Hermes on Tuesday announced that a British designer, Grace Wales Bonner, is taking over its men's pret-a-porter collection from a predecessor who held the position for nearly four decades. Wales Bonner takes over from French designer Veronique Nichanian, 71, who led the label's menswear line for the past 37 years.
Maradona's heirs sign deal with Swedish company to market brand
The five heirs to Argentinian football legend Diego Maradona, who died in 2020, have signed a deal with Swedish-Iranian businessman Ash Pournouri and his company Electa Global to market products under the Maradona name, the Swedish company said Tuesday.
US tariffs take big bite out of Swiss exports
Stiff US tariffs on Switzerland badly hurt the Alpine country's exports in the third quarter, official figures showed Tuesday, with Swiss watchmakers suffering badly. First-quarter exports soared as orders for Swiss pharmaceuticals jumped in the US, where American importers were rushing to get ahead of Trump's tariffs.
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