ASSETS & FINANCIALS

The World Bank Group has said that the estimated per capita income growth of 0.7 per cent for Nigeria and the rest of Sub-Saharan Africa in 2022 is insufficient to meet the challenging goals of poverty reduction and shared prosperity …

Six days after the new naira notes went into circulation, some traders are still finding hard to accept it as legal tender, the News Agency of Nigeria reports. The newly-redesigned N1,000, N500 and N200 bills became legal tender on December …

  The Governor of the Central Bank of Nigeria, Godwin Emefiele, has finally bowed to pressure to revise the bank’s cash withdrawal limits policy. In a circular on Wednesday by the CBN’s Director of Banking Supervision, Haruna Mustafa, the CBN …

  Nigeria’s domestic debt rose to N22.57tn as the Federal Government on Wednesday proposed  a last-minute supplementary budget for the 2022 fiscal year. The President, Major General Muhammadu Buhari (retd.), is seeking the approval of the National Assembly for N819.54bn …

  The President, Major General Muhammadu Buhari (retd.), has transmitted the Finance Bill 2022 to the National Assembly as the federal parliament is billed to pass the 2022 Appropriation Bill by Thursday. Speaker of the House of Representatives, Femi Gbajabiamila, …

The World Bank has warned the newly redesigned naira which went into circulation last week may have negative effect on economic activity especially poor Nigerians due to its timing and short transition period. The Washington-based bank revealed this in a …

The price of durum wheat has risen by 50 per cent since the start of 2022 and its importation has fallen by 16.09 per cent. This is because of the global scarcity of wheat caused by the Russian-Ukraine and the …

Three bank stocks – Sterling Bank Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc (GTCO) – drove activities in the financial services sector of the Nigerian Exchange Limited (NGX) last week. The financial sector maintained its dominance in …

  The Association of Mobile Money and Bank Agents in Nigeria has expressed optimism that the Central Bank of Nigeria will reverse its cash withdrawal limits policy before the new year. The AMMBAN National President, Victor Olojo, disclosed to media …

The federal government of Nigeria has stated that Nigeria’s mining sector received over $1 billion in Foreign Direct Investments (FDI) in recent times. This appears to be a confirmation of positive results from the Federal Government’s efforts to develop the …

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has lamented the impact of foreign exchange shortage on achieving national development goals. Emefiele spoke on Friday at the ongoing Bankers’ Committee Retreat in Lagos. He said there was need …

  The Minister of Finance, Budget, and National Planning, Zainab Ahmed, said the Federal Government was owed approximately N5.2 trillion in debts. Ahmed, who stated this during a two-day sensitisation workshop on Project Lighthouse organised for ICT and account staff …

The World Bank has said that Nigeria is in a worsening situation, with economic performance becoming weaker as inflation persists. The Washington-based bank said this in its newly released Nigeria Development Update, which was launched in Abuja on Thursday alongside …

  The Federal Government, on Wednesday, approved a new whistleblower draft bill. It also lamented that the existing whistle-blowing policy launched on December 21, 2016, was losing momentum. The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, disclosed …

  Following controversies trailing a claim of a missing N89.09tn allegedly siphoned from stamp duty charges, the Presidency on Tuesday said such claims were false. It also said the entire banking sector deposits in Nigerian did not amount to half of …

  The Senate on Tuesday postponed the hearing of the report on the Cash withdrawal policy by the committee on Banking and Financial Institutions. The Red chamber had last week commissioned the committee to grill the two newly re-appointed deputy …

  Foreign exchange rate and insecurity have been described as major threats and impediments to Nigeria-Canada trade valued at $2.7bn annually. The Canadian Deputy High Commissioner to Nigeria, Teshome Nkrumah, made this revelation in Lagos on Thursday during a business …

  Gains recorded by many blue-chip stocks, especially Nestle and 11 stocks lifted the all-share index of the Nigerian Exchange Limited (NGX) further by 0.1 per cent. Specifically, at the close of transactions yesterday, the All-Share Index (ASI), which measures …

The All Farmers Association of Nigeria, on Wednesday, said most beneficiaries of the billions of naira released by the Central Bank of Nigeria under its Anchor Borrowers’ Programme were not Nigerian farmers. Although the CBN kicked against this claim, AFAN …

The Central Bank of Nigeria has warned banks, switching companies, and other relevant parties in the Nigerian payment system against discrimination between payment cards issued by Nigerian banks. It said this in a circular to all banks, switching companies, and …