Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso has stated that Nigeria’s national currency, the Naira remains undervalued, promising that in 2024 the apex bank will work towards real price discovery in the foreign exchange market. Cardoso made this remark while delivering the keynote address at the Nigeria Economic Summit Group’s (NESG’s) […]
Following the coming on stream of the Dangote Refinery a few weeks ago, the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Dangote Group have set up a joint committee to harmonise the operations of the refinery in line with the provisions of the Coastal and Inland Shipping Cabotage Act 2003. The initiative was […]
One the Economic and Financial Crimes Commission’s (EFCC)’s witnesses, Mr Hamma-Adama Bello, on Tuesday appeared before the Federal High Court (FHC), Abuja and gave insights into how the immediate-past Head of Service (HoS), Mrs. Winifred Oyo-Ita used her companies to launder government’s funds while in service. Bello, who is a Chief Superintendent of EFCC and […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, on Wednesday unveiled a new organizational structure for the revenue service, describing the initiative as a critical milestone in the management’s commitment to revolutionize tax administration in Nigeria. Adedeji announced the organizational restructuring of the Service at the ‘2024 Strategic Management Retreat […]
The latest publication by the National Bureau of Statistics (NBS) titled ‘Food Prices Selected Food Prices Watch (December 2023’ reflected that consumers paid more for major food items in December 2023. The report, which was published on Wednesday by the national statistical system coordinating agency, showed that the average price of 1kg Rice local sold […]
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, on Tuesday disclosed that the agency provided starter packs to 55 small and medium entrepreneurs in Akwa Ibom State in furtherance of its sustained efforts towards enhancing their businesses. Odii made this disclosure during a training session organized by […]
Leading insurance and reinsurance broker, Aon, has disclosed that global insured losses in 2023 surged to $118 billion, representing the fourth consecutive year that insurance losses have exceeded the 21st-century average, reflecting the increasing impact of natural disasters on the global economy. The insurance brokerage firm, which gave the figures in its recently published ‘2024 […]
The Nigerian Communications Commission (NCC) has made some clarifications on the recent challenges faced by subscribers in linking their SIMs with NINs, attributing some of the problems to submission of more than one NIN number by them The commission’s Director of Compliance, Mr. Efosa Idehen, explained that duplication of NINs by third-party agents involved in […]
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1,127.408 billion December 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. A communique issued by the FAAC at its January 2024 meeting, chaired by the Accountant-General of the Federation, Dr. Oluwatoyin Madein, indicated that the N1,127.408 billion total […]
The Independent Petroleum Marketers Association of Nigeria (lPMAN) has said that the over 600% increase in tariffs from the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) between 2020 and 2023 is partly responsible for the current rising cost of petroleum products in the country. The marketers’ group, in a statement issued on Tuesday and signed […]