The International Monetary Fund has reviewed upwards Nigeria’s economic growth forecast for 2024 from three per cent to 3.3 per cent. This revision was announced in the IMF’s World Economic Outlook for April, which was released during the ongoing 2024 …
Read More »
The Federal Government’s total debt stock may experience a significant increase from N87.3tn (as of December 2023) to N111.4tn, following fresh borrowings in the first quarter of 2024. According to an analysis by media source, the Federal Government borrowed over N7tn …
Read More »
The Economic and Financial Crimes Commission is probing 50 bank accounts as it recovered N30bn in the alleged scandals in the Ministry of Humanitarian Affairs and Poverty Alleviation. The EFCC Chairman, Ola Olukoyede, who disclosed this in an interview published …
Read More »
The Central Bank of Nigeria on Monday stepped up its fight to boost foreign exchange liquidity in the economy with a new circular mandating Deposit Money Banks to stop the use of foreign currencies as collateral for naira loans within …
Read More »
The Federal Government has announced plans to initiate the issuance of domestic bonds denominated in foreign currency in the second quarter of this year, precisely in the month of June. According to a Reuters report, the Minister of Finance and …
Read More »
Stock investors lost N252bn as the Nigerian Exchange sustained its bearish trading on Thursday. The market lost about N467bn between Tuesday, when it resumed after the Easter holidays and Thursday. The bearish trend on the local bourse followed the announcement …
Read More »
The naira, on Wednesday continued its gain against the United States dollars, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the Nigerian Autonomous Foreign Exchange Market, the naira gained N16 or …
Read More »
Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024. This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to …
Read More »
The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity. According to …
Read More »
FIRS Chairman, Adedeji The Chairman of the Federal Inland Revenue, Zacch Adedeji, has restated the agency’s commitment not to introduce additional taxes in the country. Adedeji stated this on Wednesday, when the Chief Executive Officer of Guinness Nigeria Plc, Adebayo …
Read More »
President Tinubu President Bola Tinubu on Monday approved the Renewed Hope Infrastructure Development Fund to bridge the country’s $25bn per annum infrastructure funding gap. The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, …
Read More »
The Federal Government has deducted over N415bn from state government allocations to service their external loans, according to findings by media source. This was according to data from the Federation Account Allocation Committee Disbursement reports published by the National Bureau of …
Read More »
The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in a circular made available to media and signed by the bank’s Director, Trade and Exchange Department, Dr …
Read More »
The naira rebounded against the United States dollar on Wednesday at the official and parallel markets, with the local currency recording a significant gain against the greenback at the black market. This came as the Central Bank of Nigeria announced …
Read More »
Alade The Senate confirmed Gbenga Alade as the Managing Director of the Assets Management Company of Nigeria on Tuesday. Announcing this in a statement, the Head of Corporate Communications Department of AMCON, Jude Nwauzor, disclosed that three other executive directors …
Read More »
Cardoso The Senate Ad-hoc Committee probing how the N30tn Ways and Means loans were obtained from the Central Bank of Nigeria and spent by the former President Muhammadu Buhari-led administration says it has uncovered some infractions in the in the …
Read More »
Trading Floor of NSE The Nigerian exchange declined by 0.40 per cent as investors reacted to the latest Consumer Price Index figures from the country’s statistics bureau. At the close of trade on Monday, the All-Share Index and the market …
Read More »
Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau of Statistics. A breakdown of the data showed that in the first and second quarters of 2023, total imports stood …
Read More »
The Senate has warned the executive against increasing the budget size through a supplementary budget, advising the government to use the excess savings that are expected to be made from the recent depreciation of the naira to fund deficit. This …
Read More »
The Federal Government is in talks with the World Bank to complete the processes of obtaining over $1bn loans to address the challenges facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing …
Read More »
MMS PLUS NG – Maritime, Aviation, Business, Oil and Gas News Online Newspaper with coverage in Maritime, Oil and Gas, Aviation, Power and Energy as well as Financial News
