The Nigerian Employers’ Consultative Association (NECA) has commended the recent measures adopted by President Bola Tinubu-led administration to create enabling business environment in Nigeria through strategic tax reforms. The association’s Director-General, Mr. Adewale-Smatt Oyerinde, gave the commendation in a statement issued on Thursday following the signing of four executive orders by the President. The Director-General stated: “In this context, […]
Deposit Money Banks (DMBs) in Nigeria have started adjusting the daily maximum cash withdrawal limit of individual customers on automated teller machines (ATMs) to N200,000, following several weeks of complaints by depositors over difficulties in doing business transactions based on the limit. The Central Bank of Nigeria (CBN) had, had as part of its Naira […]
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has described the recent interventions by the Federal Government on some recent tax changes as part of its efforts to mitigate tax burdens on businesses nationwide. The President of the organized private sector (OPS) group, Barrister Dele Kelvin Oye, in a statement issued […]
Verdant Capital, an investment manager and investment bank specializing in the private capital markets and operating on a Pan-African basis, has announced its plans to invest its Verdant Capital Hybrid Fund $9 million in the lending subsidiaries in Zambia, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo. The Hybrid Fund […]
The Centre for Promotion of Private Enterprise (CPPE), has charged the Central Bank of Nigeria (CBN) to adopt proactive measures to moderate the current volatility in the official foreign exchange (FX) market following its June 14 FX unification policy was adopted. Since the policy announcement, high intra-day volatility has characterized the trading sessions at the […]
As part of its programmes for the World MSMEs Day 2023, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has partnered Casava Insurance, a risk underwriting company with special focus on agribusiness, to facilitate voluntary registration and certification of MSMEs under SMEDAN and provide valuable support services for registered MSMEs in the country. […]
….says govt could safe N11trn from fuel subsidy removal by 2025 The World Bank Group has said that Nigeria can leverage the new reforms of the President Bola Tinubu-led administration to address her current macroeconomic imbalances. The Washington-based development finance institution made this remark during the launch of the June 2023 edition of the Nigeria […]
The National Bureau of Statistics (NBS) reported on Monday that the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) declined by 6.07% on a month-on-month basis from N4,642.27 recorded in April 2023 to N4,360.69 in May 2023. The Bureau, in its ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch (May […]
The Development Bank of Nigeria (DBN) has disclosed that it provided N631 billion as financing support to Primary Financial Institutions (PFIs) in the country over the past five years ended December 2022. The Managing Director of the development finance institution, Dr. Tony Okpanachi, who made this disclosure in Lagos while presenting the progress and achievements […]
For the second consecutive day, Nigeria’s currency, the Naira, depreciated in exchange rate against the US dollar on Tuesday, to trade at an average of N780/$1 in the black market, representing a 2.77% decline when compared to the N759/$1 it traded in the unofficial market on Monday. Some FX dealers in the Federal Capital Territory […]