The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Thursday announced that he met with the Managing Directors of 15 deposit money banks (DMBs) as part of the apex bank’s efforts to ease the current cash crunch in the country. According to him, the meeting was held following President Muhammadu Buhari’s directive in his national […]
The Supreme Court on Wednesday ordered the Central Bank of Nigeria (CBN) to suspend its current old banknotes’ withdrawal drive aimed at completely withdrawing old Naira notes from circulation effective from this Friday, February 10, nationwide. The apex bank’s ruling was sequel to a suit filed by governors Nasir El-Rufai (Kaduna), Yahaya Bello (Kogi) and […]
The Senate on Tuesday reiterated the need for the Central Bank of Nigeria (CBN) to extend the January 31st deadline for old banknotes’ withdrawal to July 31st, 2023. The upper Legislative chamber of the National Assembly adopted this resolution during the day’s plenary session presided over by Senate President, Senator Ahmad Lawan. It stressed that […]
The Centre for the Promotion of Private Enterprise (CPPE) has flawed the provisions of the Finance Bill 2022 now undergoing review in terms of the proposed hike in tax rates in almost all sectors of the economy and advised the fiscal authorities to have a re-think on the provisions. The Centre strongly canvassed for the […]
The Chairman House of Representatives Committee on Capital Markets and Institutions Hon. Babangida Ibrahim, has said that the provisions of the Investments and Securities Bill recently passed by the lower chamber of the National Assembly will inspire confidence of both local and foreign investors as they can be assured that the regulators have been sufficiently […]
The Federal Government has said that the 774 local governments will benefit from the 35% Electronic Money Transfer Levy provided for in the Finance Bill 2022, debunking insinuations that the revenue will be shared by only the federal and state governments. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made this clarification […]
The Federal Government on Wednesday vowed to end the fiscal regime by the end of June this year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who gave this hint during her public presentation on the breakdown of the 2023 Federal Government budget in Abuja, said that the government had made provisions […]
President Muhammadu Buhari in the early hours of Tuesday signed the Federal Government of Nigeria’s N21.8 trillion 2023 budget into law following last week’s passage of the Appropriation Bill 2023 by the National Assembly. A statement by the Ministry of Finance, Budget and National Planning which was also confirmed by a media aide in the […]
The Chairman of the House of Representatives’ Committee on Capital Markets and Institutions, Hon. Babangida Ibrahim, has described the Investments and Securities Bill as having the potential of transforming the capital market, attracting foreign investors and boosting their confidence in the nation’s investment space, amongst other benefits. The lawmaker made this remark during an interview […]
The Senate on Thursday flawed the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC’s) revocation of the Atala Marginal oil field (OML 46) licence in February 2020 and directed the commission to re-allocate the oil field to the original owners as earlier directed by the Presidency. The resolution of the Red Chamber was sequel to the recommendations […]