The Nigerian Communications Commission (NCC) has reported that following the disruption last Thursday, March 14, which affected data and voice services due to cuts in undersea fibre optics along the coasts of Cote d’Ivoire and Senegal, telecom services have now been restored to approximately 90% of their peak utilization capacities. The telecom industry regulatory commission, […]
Banking
BVN Registration Rises To 61.16Mn On March 15 – NIBSS
Nigeria Inter-Bank Settlement System (NIBSS) reported at the weekend that total registration for the Bank Verification Number (BVN) by bank customers in the country had increased to 61.16 million The NIBSS, in a report hoisted on its website indicated that as of last Friday, the BVN registrants totaled 61,166,384. In its earlier report published this […]
Analysts Predict Positive Outlook In NGX, As Investors Eye Dividends
Investment experts at Bancorp Securities Limited, a leading investment research and consulting services firm in Nigeria, have projected that trading in the Nigerian Exchange (NGX) will be upbeat this week as investors are warming up for dividend yields and other investment expectations. The experts, in the firm’s ‘Weekly Stock Recommendation: Mar 18-Mar 22 2024’ report […]
NIMC, NCC Synergize Efforts To Enhance NIN-SIM Linkage
The National Identity Management Commission (NIMC) and the Nigerian Communications Commission (NCC) have announced a strategic collaboration aimed at enhancing processes for the linkage of the National Identification Number (NIN) and SIM by telecom consumers nationwide. In a joint statement by the Technical Adviser, Media, and Communications to the DG/CEO of the National Identity Management […]
Nigeria’s CIT Accruals Decline By –35.40% In Q4 2023
Indications that Nigerian businesses are under-performing amid current fiscal and monetary whirlwinds triggered by the President Bola Tinubu’s administration emerged on Friday with the aggregate, Company Income Tax (CIT) for Q4 2023 dipping to an all-time-low of N1.13 trillion. The CIT collections indicated a growth rate of –35.40% on a quarter-on-quarter basis when compared with […]
Nigeria’s VAT Collections Surge By 26.61% Q4 2023
The National Bureau of Statistics (NBS) reported on Friday that on the aggregate, Value Added Tax (VAT) collections in Nigeria increased to N1.20 trillion in the fourth quarter of 2023 (Q4 2023), showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion raked in from the revenue source in Q3 2023. In […]
Nigeria’s Inflation Rate Rises To 31.70% In February
….Highest Rate In Over 30 Years Despite sustained policy measures by the Central Bank of Nigeria (CBN) to moderate the nation’s inflation rate, the general price level in the economy continues its upward trend, rising to 31.70% in February this year from the 29.90% recorded in the preceding month. The National Bureau of Statistics (NBS), […]
ALTON Appeals To Telecom Stakeholders On Damaged Submarine Cables
The Association of Licensed Telecommunications Companies of Nigeria (ALTON), has issued an advisory to industry stakeholders concerning the damage to multiple submarine fibre optic cables along the West Africa Coast, which have affected adversely data access and internet services in the sub-region. The association, in a statement signed by its Chairman, Engr. Gbenga Adebayo and […]
CBN Orders Banks, Authorized Dealers To Comply With Revised Guidelines
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs), licensed Non-interest banks, and other authorized dealers utilizing its discount window to strictly adhere to new (revised) circulars and guidelines. The apex bank hinged its latest directive, which was conveyed to the affected operators in a circular signed by its Director Financial Market […]
Minister Inaugurates Committee For Conversion Of NRC’s Locomotives To LNG-CNG
The Minister of Transportation, Sen. Sa’idu Ahmed Alkali, has called for immediate technical evaluation of the proposal to transit Nigeria Railway Corporation’s (NRC’s) locomotives from diesel to LNG – CNG as part of the current drive by the government towards ensuring sustainable and cheaper energy sources for the operations of the rail system The Director […]