The Director-Information Technology Department, Central Bank of Nigeria, Mrs Rakiyat Mohammed, has said that the banking regulator will launch a digital currency before the end of 2021. Muhammed disclosed this during a press briefing on the Bankers’ Committee meeting on …
Read More »
The House of Representatives has asked the Central Bank of Nigeria to urgently put in place a policy to check further devaluation of the naira to the United States dollar and other international legal tenders. The House decried that while …
Read More »
Nigerians transacted over N20tn instant payment transactions in May according to the Nigeria Inter-Bank Settlement System. Transaction in May was 0.15 per cent higher than for April. Instant payment transactions in May also showed a spending recovery from the month …
Read More »
The Federal Government through its National Social Investment Management System has shortlisted 550,000 applicants for the final selection for Batch C of the N-Power programme. It also said that the Central Bank of Nigeria would support Batches A and B …
Read More »
Telecommunication companies have lost 19.20 million subscribers since the Federal Government began the linking of National Identity Number with SIM cards, according to new industry statistics released by the Nigerian Communications Commission on Tuesday. The subscriber base fell from 207,907,709 …
Read More »
Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has said that the country is blessed with huge potentials exportable items in non-oil sector that can boost the …
Read More »
The National Pension Commission has ordered Pension Fund Administrators to stop charging any fee on micro pension funds under their management that are below N5m. It disclosed this on Monday in a circular signed by the Head, Surveillance Department, PenCom, …
Read More »
The Chartered Institute of Taxation of Nigeria says it has continued to make efforts to create relevance for its members in the country and internationally. The immediate President, Dame Olajumoke Simplice, said this while delivering her last message as the …
Read More »
The Nigerian stock market reversed some of its recent losses last week as the market capitalisation rose above the N20tn mark. The Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 1.23 per cent to close the week at …
Read More »
The Asset Management Corporation of Nigeria has said that its Asset Management Partners scheme has resolved to change its recovery strategy. It said in a statement on Sunday titled ‘AMCON AMPs may change recovery strategy’ that it planned to make …
Read More »
Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash …
Read More »
Capital market experts have rated the country’s democratic regime as one that has failed to create a competitive edge for the domestic investment market. Assessing Nigeria’s unbroken democracy since 1999, the stakeholders argued that the era delivered less than expected …
Read More »
The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating in recent weeks. …
Read More »
The Asset Management Corporation of Nigeria is currently pursuing bad debts of about 3,000 debtors in various courts in the country. It disclosed this on Sunday in a statement titled ‘Recovery for N5tn debt burden, AMP scheme pivotal – AMCON …
Read More »
The naira exchanged to the dollar at N490/$ at the parallel market on Thursday. According to naijabdcs.com, the official exchange rate website of the Central Bank of Nigeria for the Bureau de Change operators, the country’s currency was bought and …
Read More »
The total assets under the Contributory Pension Scheme rose to N12.4tn as of the end of April, according to the latest data obtained from the National Pension Commission on Wednesday. PenCom, in its unaudited report on the pension funds industry …
Read More »
The Central Bank of Nigeria officially devalued the naira to 410.25/$ after the country’s currency defied all interventions to retain its value. However, experts have said that the last resort employed by the CBN to adopt the NAFEX Investor & …
Read More »
The combined loan portfolio of 12 commercial banks in Nigeria rose by N690bn in the first three months of this year, data collated from their unaudited financial statements show. The loans and advances to their customers grew to N17.75tn as …
Read More »
• ‘Growing foreign reserves to $40b may douse FX tension, inflation’ • Nigeria borrowing to fund salaries, trips • About 83 per cent revenue goes into debt service • Onyekpere calls for cancellation of revenue collection percentage to FIRS, Customs Stakeholders …
Read More »
Economic and financial experts have raised concerns as the Nigerian economy grew slower in the first quarter of this year, compared to the same period of 2020. The National Bureau of Statistics said on Sunday that the Gross Domestic Product …
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
