ASSETS & FINANCIALS

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 …

  The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, has condemned the recent downgrades of Nigeria by credit rating agencies. She noted that these downgrades were based on factors beyond the country’s control and could affect the …

The Central Bank of Nigeria has imposed fresh cash withdrawal limits on individuals and organisations, which will become effective on January 9, 2023. According to a memo issued by the CBN to banks on Tuesday, individuals will only be able …

Nigeria’s total merchandise trade fell by N1.24tn, from N12.84tn in the second quarter of 2022 to N11.59tn in the third quarter of 2022. This is according to the ‘Foreign Trade in Goods Statistics (Q3 2022)’ report released by the National …

  The Director-General, Debt Management Office, Ms Patience Oniha, has called on the need for Nigeria to operate efficient tax administration in tackling revenue challenges. Oniha said this in Lagos while addressing journalists at the 2022 Capital Market Correspondents Association …

The assets under the Contributory Pension Scheme returned to a growth path to gain N164bn in October after incurring a loss of almost N2bn in September. This was contained in the National Pension Commission’s latest monthly report titled, ‘Unaudited report …

Nigeria ranks number 8 on the African Industrialization Index that was released by the African Development Bank (AfDB) Group in November 2022. In the index, the top 10 countries are ranked as follows; South Africa, Morocco, Egypt, Tunisia, Mauritius, Eswatini, …

Nigerians living in Lagos are now eligible for International Driver’s Permit license beginning in December 2022. This was disclosed in a statement by the Director of Vehicle Inspection Service (VIS) in Lagos, Mr Akin-George Fashola, on Thursday in Lagos. He …

The Securities and Exchange Commission (SEC) has expressed its readiness to pursue appropriate policy measures that will spur activities and accelerate development in the capital market. At the 2022 PEARL Awards Nite, held in Lagos, at the weekend, the Director-General …

  The Central Bank of Nigeria (CBN) yesterday, said it has paid out about N81 billion in rebates to hard-working Nigerian exporters as part of measures to ensure development of the export value chain in the country, The bank also …

  The new 16.5 per cent interest rate is stifling the growth of micro-, small- and medium-sized enterprises in Nigeria. The MSMEs owners said the sector was hard hit by the recent increase in interest rate by the Central Bank …

The contributions of telecommunications to the nation’s real Gross Domestic Product increased by 10.52 per cent year-on-year to hit N7.28tn in the first nine months of 2022. In the corresponding period of 2021, the sector contributed N6.58tn to real GDP. …

The Federal Government has borrowed N6.31tn from the Central Bank of Nigeria through Ways and Means Advances in 10 months. This has pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 to N23.77tn in October 2022. …