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Senate Seeks Zero Duty, VAT Exemption On Aircraft, Spare Parts

The Senate on Tuesday urged the Federal Government to fully implement the Executive Order on zero customs duty and zero Value Added Tax (VAT) on importation of commercial aircraft and aircraft spare parts. This is even as it advised the Central Bank of Nigeria (CBN) to make foreign exchange easily accessible for investors in the […]

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World Bank Forecasts 40-Year Low Per Capital Income For Nigeria

The World Bank on Monday predicted that Nigeria’s per capital income could ebb to its lowest value in 40 years as the volatility of the oil market globally continues to take huge toll on government’s earnings and overall performance of the nation’s economy. World Bank Country Director for Nigeria, Mr. Shubham Chaudhuri, made the latest […]

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Despite Recession, FG Rates Nigeria’s Economy High

The Federal Government has rated the Nigerian economic performance high despite contracting by -3.62% (year-on-year) in the third quarter of 2020, the worst recession recorded in over 30 years. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave this rating on Monday in Abuja at the 26 edition of the Nigerian Economy […]

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FirstBank Promotes Financial Inclusion Among Children With KidsFirst, MeFirst Accounts

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its variant account products – KidsFirst and MeFirst – created to encourage the right savings culture among children of 17 years age and below. The offerings have relevant enhancements including appropriate parental guidance and financial discipline for children as they […]

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AfreximBank, Others launch US$1.5Bn Facility To Support African Economies

The African Export-Import Bank (Afreximbank) has partnered with the Islamic Trade Finance Corporation (ITFC), and the Arab Bank For Economic Development in Africa (BADEA), to launch a US$1.5-billion Collaborative COVID-19 Pandemic Response Facility (“COPREFA”) to support African economies with rapid financial assistance to reduce the impact of COVID-19. The facility will be accessed by eligible […]

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Fidelity Bank Reports N21.3Bn Profit In 9 Months

Fidelity Bank Plc, one of Nigeria’s leading financial services providers, has reported a N21.3 billion profit before tax (PBT) in the nine month period ended September this year, thereby sustaining its impressive financial performance over the past years. Analysis of the lender’s results released on the Nigerian Stock Exchange (NSE) showed improvements in key performance […]

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FG To Commence Port Harcourt-Bonny-Maiduguri Rail Project

The Minister of Transportation, Rotimi Amaechi , on Thursday assured that the federal government would commence work on Port Harcourt-Bonny-Maiduguri railway project on completion of the Lagos-Ibadan standard gauge. The Minister, who gave this hint in Ibadan, Oyo State, during an inspection tour on the Lagos-Ibadan railway project to ascertain the level of work done […]

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Nigeria, Others Require $1.2Trn For Citizens’ Social Protection – ILO

The International Labour Organisation (ILO) on Thursday said that to guarantee at least basic income security and access to essential health care for all in 2020 alone, developing countries should invest approximately US$1.2 trillion, representing on average 3.8 per cent of their GDP. The global labour organization in its latest Policy brief, noted that since […]