The Central Bank of Nigeria (CBN) announced the release of another $500 million into the foreign exchange (FX) market as part of its monetary measures to boost liquidity in the market and by so doing, stimulate growth in the economy. The latest injection of another tranche of $500 million into the FX market came just […]
Barely three months after the issuance of approval in principle by the National Insurance Commission (NAICOM), the management of Crown Takaful Insurance Limited on Monday, December 18, received the operating licence from the industry regulator authorizing the company to commence business for the benefits of Nigerians nationwide. As a modern concept of ethical insurance, Crown […]
Worried by the recent alleged abuses in the disbursement of poverty alleviation funds by the Ministry of Humanitarian Affairs, some leading banking and development experts have called on the Federal Government to begin to use of Microfinance Banks (MFBs) in the disbursement of such funds in order to achieve the objectives of the poverty alleviation […]
Nigeria’s fastest growing non-interest banking services provider, TAJBank Limited and Nigerian Postal Service (NIPOST) have formalized a new public-private partnership (PPP) initiative with a view to working together for mutual and the nation’s socioeconomic benefits. The partnership between the non-interest lender and the postal services agency was formalized at the NIPOST Head Office in Abuja, […]
The Group Managing Director and Chief Executive Officer, Nigerian Exchange Group Plc (NGX), Temi Popoola, has highlighted various plans by the exchange group to enhance its technology infrastructure, attract listings, enhance retail investor’s participation and attract foreign capital inflows into the economy. Popoola spoke on these transformational initiatives on Thursday, while addressing global leaders of […]
The Federal Government of Nigeria and the Kingdom of Morocco have reopened their discussions to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco gas pipeline project. The parley took place on the sidelines of a meeting between the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, and the […]
The Securities and Exchange Commission has adopted new rules and amendments to enhance disclosures and provide additional investor protection in initial public offerings (IPOs) by special purpose acquisition companies (SPACs) and in subsequent business combination transactions between SPACs and target companies (de-SPAC transactions). The SPAC IPOs and de-SPAC transactions can be used as a means […]
The Minister of Finance and Coordinating Minister of the Economy, Dr. Olawale Edun, on Wednesday charged the management of the Federal Inland Revenue Service (FIRS) to deploy the needed technology and solutions with a view to achieving 18% tax-to-GDP ratio target set for the country. The minister, who gave the charge the FIRS Management Retreat […]
….Forecasts 38.8% Poverty Level In 2024 Leading professional services firm, PwC Nigeria, has released its latest Nigeria Economic Outlook, highlighting the seven key trends that will shape the nation’s economic trajectory in 2024. PwC Nigeria’s report titled ‘Nigeria Economic Outlook 2004’ projected a marginal decline in inflation and 3.1% rise in GDP, and notes that […]
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, on Wednesday hinted that the Committee had proposed the use of Unstructured Supplementary Service Data (USSD) and other digital channels for the payment of taxes and levies across the three tiers of government in the country. Oyedele, who disclosed this […]