The Nigerian Ports Authority (NPA) has announced that INTELS Nigeria Limited waived $193 million interest on its debt to the company as part of the efforts aimed at resolving the stalemate on the pilotage contract with the Federal Government under the immediate past administration. The authority, in a statement titled “Setting the Record Straight in […]
The Federal Inland Revenue Service (FIRS) at the weekend stated that it had granted taxpayers full waiver on accumulated penalties and interests for outstanding tax liabilities, thereby giving succor to the affected enterprises amid recent policy-induced fiscal whirlwinds across the economy. The Chairman of the revenue agency, Dr. Zacch Adedeji, made the disclosure in a […]
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has assured Nigerians that the 2024 budget would be the “people’s budget” that will address the economic hardships faced by Nigerians. Abbas, who gave this assurance on Monday at the town hall meeting on the budget organised by the Green Chamber of the National Assembly, […]
Nigeria recorded a trade surplus of N1.89 trillion in the third quarter of 2023, which is higher than the N1.25 trillion in the preceding quarter, the National Bureau of Statistics (NBS) has reported. The statistics agency, in its latest ‘Foreign Trade in Goods Statistics Q3 2023’ report published on Monday, reported that in the quarter […]
Investment analysts at Bancorp Securities Limited, a leading investment and research consulting firm in Nigeria, have projected a positive outlook for Nigerian Exchange trading sessions this week as the Yuletide season approaches. In the firm’s ‘Weekly Stock Recommendation: December 4 – December 8. 2023’ report circulated to our correspondent on Monday, the experts predicted that […]
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has restated the Commission’s readiness to support law-abiding investors like Meta, (formerly Facebook), which are responding to current calls by the Nigerian government through investments targeted at boosting the current digital economy agenda. Maida, who made the […]
The Minister of Solid Minerals Development, Mr Dele Alake, on Tuesday urged foreign investors to take advantage of low cost of production in Nigeria’s mining sector and invest in it for huge returns. Alake, in a speech delivered at the Mines and Money Conference held in London, said the President Bola Tinubu-led administration was currently […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Central Bank of Nigeria (CBN) on Wednesday directed banks to continue to issue and accept old and new Naira banknotes nationwide. The apex bank, in a statement issued by the Acting Director, Corporate Communications, Mrs. Sidi Ali Hakama, clarified: “Following the order of the Supreme Court on Wednesday, November 29, granting the prayer of […]
The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had introduced the Single Customer View […]