ASSETS & FINANCIALS

The fate of Meta’s African team hangs in the balance as the firm announced the layoff of 11,000 workers on Wednesday. This represents 13 per cent of its 87,000 global employee base and is coming after Twitter laid off 3,700 …

  As part of efforts to bridge the nation’s housing gap, the Federal Government has encouraged the use of cooperatives to provide housing solutions for low and medium-income earners. The Special Adviser to the President on Economic Matters, Dr Adeyemi …

  The Federal Government’s expenditure in the first six months of 2022 exceeded revenue by N6.23tn, latest figures obtained from the Central Bank of Nigeria has revealed. According to the second quarter economic report on fiscal sector development compiled from …

The Japan External Trade Organisation (JETRO) has expressed optimism about Nigeria’s investment climate amid the harsh operating conditions for businesses in the country. The Trade Commissioner and Managing Director, JETRO Lagos, Taninami Takuma, explained that Nigeria is a big market …

The total assets under the contributory pension scheme lost nearly N2bn in one month. This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 30 September 2022.’ According …

  The Minister of Agriculture, Muhammad Abubakar, on Thursday, said the Federal Government was working towards bringing down prices of food commodities. He said Nigeria was going into intensive dry-season farming, beginning from December, to ensure continuous production of food. …

  The Federal Government plans to introduce more sin taxes and cut down on tax incentives in 2023 through the proposed 2022 Finance Bill, media has learnt. This was according to a copy of the public presentation of the 2023 …

MTN and Airtel made N1.92tn from calls and data between January and September, 2022. This is according to data from the financial results of MTN Nigeria Communications Plc and Airtel Africa’s Nigeria subsidiary. This is an 18.27 per cent increase …

  The Central Bank of Nigeria is targeting a stronger digital economy to support the growth of the financial systems. This is even as the digital currency, eNaira, records 190.1 per cent growth in transactions relative to its level when …

• Experts warn Buhari, propose revenue drive • FG’s recurrent rise 217% to N8tn The Federal Government exceeded its borrowing by N1.15tn for the period between January and August 2022, media has learnt. A copy of the public presentation of …

The shrinking value of the Nigerian naira and currencies of most developing economies are driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World …

  Former President Olusegun Obasanjo, Ogun Governor, Dapo Abiodun, Governors and other dignitaries are expected at the inauguration of Platform for African Women in Smart Climate Agriculture (PAWISCA), in Abeokuta, Ogun State on November 1-2. The Nigeria representative of the …

The South African Retail Company, Game Store has begun stock clearance sale targeted at closure of all its branches nationwide on December 25th 2022. The Game Store which is managed by the Giant Massmart Holdings Limited revealed this on October …

National Union of Banks, Insurance and Financial Institutions’ Employees, NUBIFIE, has rejected last week’s sale of Polaris Bank Nigeria Limited, without the knowledge of stakeholders, including organised labour. NUBIFIE said it was worried that, among others, a bank the government …

  Elon Musk took control of Twitter and fired its top executives late Thursday in a deal that puts one of the leading platforms for global discourse in the hands of the world’s richest man. Following the takeover, Musk tweeted …

Access Bank, GTB and Fidelity Bank recorded 26,877 fraud cases in the first six months of the year, according to analyses of their financial reports for the first half of 2022. This was a 56.45 per cent decrease from the …

  The Federal Government says it has earmarked about $7 billion within the last seven years in its efforts to pull 100 million Nigerians out of poverty through its National Social Investment Programme in the country. The Minister of Humanitarian …

The Federal Government has ordered telecommunication companies to reverse their recent 10 per cent hike in calls and data prices. This decision means that telcos like MTN Nigeria and Airtel, who had initially increased the prices of their data bundles …

  …meets 64% revenue target of N6.65tn Amid Nigeria’s tight fiscal space, the Federal Government has recorded a deficit of N5.33tn between January and August 2022, which is N430.82bn above the prorate level. The government spent N9.56tn from January to …

Nigeria’s local currency unit is set to weaken further next year as its current exchange rate to the dollar is well above fair value, according to Bank of America. According to a report by Bloomberg, economist Tatonga Rusike said in …