ASSETS & FINANCIALS

The National Economic Council on Thursday affirmed that the $3bn emergency loan-for-crude oil the Federal Government secured in August would be deployed to stabilise the naira, whose value has continued to fluctuate in the Investors & Exporters’ window and worsened …

Cardoso, CBN’s Governor The new Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said he will prioritise clearing the apex bank’s backlog of unsettled foreign exchange obligations in the near term. He said this on Tuesday during the …

The Cement Producers Association of Nigeria has warned that the ongoing plan of the federal government to introduce concrete roads will raise the price of cement to N9, 000 per bag from the current price of N5, 000. It also …

The South Korean government has indicated interest in Nigeria’s lithium deposits, according to a statement on Thursday. The statement signed by the Deputy Director (Information) of Nigeria’s Ministry of Solid Minerals Development, Alaba Balogun, disclosed that the Nigerian government had …

The daily volume of trade on the Nigerian Exchange Limited increased by 98 per cent to 1.12 billion units on Thursday as investors lost N35bn at the close of the trading session. The volume of traded equities reported on Wednesday …

The naira continued its downward trend after exchanging to the dollar at 980/$ at the parallel market on Wednesday. A week earlier, the naira exchanged to the dollar at 950/$. Bureau de Change operators who spoke to The PUNCH attributed …

Nigeria is currently servicing about $14.12bn worth of World Bank loans, according to report by media. The figure covered the amount disbursed on about 108 approved loans based on data obtained by our correspondent from the website of the World Bank. …

The naira fell further to the dollar on Wednesday after closing at 950/$ at the parallel market. Bureau de Change operators who spoke to media, said the naira which had earlier closed at 930/$ at the close of operations on …

President Bola Tinubu The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said Nigeria has over 60 different forms of taxes and levies. Many of the taxes, he added, made life unbearable for …

The number of delisted loan apps rose from nine to 37, according to the Federal Competition and Consumer Protection Commission’s new report. The number of fully approved loan apps also grew to 164 from 154 as of its last updates …

The manufacturing sector has sustained its lead position in contribution to Nigeria’s tax revenue in the first half of 2023 (H1’23) with a remittance of N606.7 billion. The tax remitted by the sector represented 17.4 percent of the total Federal …

Yakubu Yuguda The Securities and Exchange Commission (SEC) depending on a World Bank report, has stated that based on the current level of public spending on infrastructure which is regarded as one of the lowest globally, it would take approximately …

Nigerian foreign exchange earnings grew in the first six months of 2023 as the foreign trade surplus rose to N2.22tn. This was as the country sought new avenues to increase its foreign exchange earnings. According to new data from the …

Activities of private businesses dipped midway through the third quarter of the year as rising prices weakened demand, according to the Stanbic IBTC Purchasing Managers Index report for August. According to the report, input costs and output charges increased to …

The Nigeria Extractive Industries Transparency Initiative, on Monday, announced that Nigeria’s earnings from the solid minerals sector between 2007 and 2021, a period of 15 years, was N814.6bn. NEITI made this public in its latest 2021 industry report of the …

Foreign firms repatriated $5.86bn from the Nigerian economy between October 2022 and March 2023, the Central Bank of Nigeria has disclosed. About $5.13bn was repatriated as dividends by foreign investors. In its ‘Economic Report, First Quarter 2023,’ the apex bank …

The three tiers of government, federal, states and Local Government Areas, shared a total of N4.37tn from the Federation Account as statutory revenue allocations between January and June 2023, the Nigeria Extractive Industries Transparency Initiative said on Thursday. It disclosed …

Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu The Federal Government is going to establish a Presidential Humanitarian and Poverty Alleviation Trust Fund, the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, announced on Thursday in …

At least 110 top bank executives and junior staff members have been sacked for fraud-related cases in the past two years, findings by media have shown. These were contained in the ‘Reports of Fraud and Forgeries in Nigerian Banks’’ released …

The Debt Management Office sold treasury bills valued at N406.10bn across its auctions in July 2023. This represented a 0.39 per cent (N1.59bn) month-on-month increase in the value of T-bills sold across its auctions in June which stood at 404.51bn. …