The Federal Government on Thursday approved N1.535 trillion under the Phase 2 of the Nigerian National Petroleum Company Limited (NNPCL) Tax Credit Scheme for funding of critical infrastructure projects in the country. This disclosure was contained in the Federal Executive Council’s (FEC’s) brief at the end of its meeting at the Presidential Villa Abuja The […]
Due to the cash crunch associated with the implementations of the Central Bank of Nigeria’s (CBN’s) Naira redesign policy in the first quarter of this year, mobile transactions have continued to gain traction as total transfers through mobile platform surged rose to N4.1 trillion in March this year. The mobile transactions in the month represented […]
The Federal Government on Tuesday indicated its plan to increase excise tax on tobacco products from 30% ad-valorem to 50% as part of sustained measures to discourage tobacco smoking in the country. The Head of the Tobacco Control Unit, Noncommunicable Disease Division of the Federal Ministry of Health, Dr. Mangai Malau, made this disclosure at […]
The Securities and Exchange Commission (SEC) Nigeria has issued a fund/portfolio manager’s licence to Kudy Financials Limited, a subsidiary of Kudy Financials SARL, to offer investment products and services in the nation’s capital market. In its approval letter to the firm, the capital market regulator stated that the approval became effective from 11th April, 2023 and […]
AMS-IX, one of the largest global Internet Exchange operators, and MDXi, an Equinix company, have announced the launch of a new Internet Exchange in Lagos A news report from African Press Organisation (APO) circulated on behalf of MDXi, the new Internet Exchange, AMS-IX Lagos, is situated in the carrier-neutral data center of MDXi, an Equinix company. […]
…..Cautions On Hawkish Monetary Policy Regime KPMG Nigeria, a leading professional services firm, has charged the Federal Government to adopt some proactive measures, including the cutting of production and distribution costs, in order to moderate the nation’s surging inflation rate over the past months. The professional services firm, gave the charge in its just published […]
….Tasks MfBs On Improved Performance Imperatives The National Association of Microfinance Banks (NAMB) has renewed its call on the Central Bank of Nigeria (CBN) for the involvement of Microfinance Banks (MfBs) in the formulation and implementation of key policies and other measures targeted at enhancing the nation’s financial system stability and sustainable growth. The […]
The Nigeria Employers’ Consultative Association (NECA) has warned the Federal Government to reject calls by the International Monetary Fund (IMF) for introduction of more taxes in the country in view of the negative implications for the economy and socioeconomic wellbeing of Nigerians and other residents. The association’s Director-General, Mr. Adewale Oyerinde, in a statement on […]
The African Development Bank, (AfDB) has expressed concern that Africa may lose as much as 12% of its current Gross Domestic Product (GDP) value by year 2100 if the current trends in climate finance flows into Africa remained sustained. The development finance institution, in a statement issued on Friday as its governors gathered in Egypt […]
The National Bureau of Statistics (NBS) reported on Saturday that Nigeria’s inflation rate rose to 22.04% in March this year, from the 21.91% recorded in February, representing a 0.13% points rise month-on-month. In its just published’ ‘Consumer Price Index (CPI)’ report, the Bureau indicated that on a year-on-year basis, the March 2023 headline inflation rate […]