Nigeria and other countries in the Lake Chad region, namely Niger, Cameroon, and Chad are to benefit from the European Union’s (EU’s) €102.5 million humanitarian aid. The EU made the promise to provide the humanitarian aid during the 3rd High-Level Conference on the Lake Chad Region held on Monday and Tuesday in Niamey, Niger Republic […]
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) ended its first meeting this year on Tuesday by raising the Monetary Policy Rate (MPR), also known asthe benchmark interest rate, to 17.5% from 16.5%. The CBN governor, Mr. Godwin Emefiele, gave this hint while briefing the media on the key decisions taken at […]
The Naira depreciated in exchange for the US dollar at the black market on Tuesday, trading at an average of N753/$1 in the early hours trading session compared to N746/$1 it exchanged on Monday, representing a 1.07% depreciation by the local currency. Information provided by some black market traders indicated that the sharp slide in […]
Nigeria’s equities market closed negative on Tuesday, as bears took over the trading session from the bulls, thereby causing slide in the broad market’s performance. At the close of the trading session, the All-share Index (ASI) depreciated by 0.08% to close at 52,612.55 points while the market capitalization declined by N25 billion to close at […]
The governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday debunked ongoing rumour that the apex bank was withholding N89 trillion revenue accruals from Stamp Duty, saying the rumour is ill-founded and untrue. Emefiele made this clarification while briefing journalists at the end of the 289th meeting of the Monetary Policy Committee (MPC) […]
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 […]
Nigeria will next Tuesday in Abuja host a sub-regional conference that is expected to be attended by policy makers and stakeholders in the digital economy ecosystem in West Africa. The Digital Economy Regional Conference is convened to discuss the future of digital economy and intensify regional public-private partnerships for the region. The event is being […]
Nigeria’s equities market closed positive on Monday, as bulls took hold of the trading session, thereby boosting the broad market’s performance with JOHNHOLT topping the 18 gainers’ table. At the close of the trading session, the All-share Index (ASI) appreciated by 0.11% to close at 52,657.69 points just as the market capitalization grew by N18 […]
The Federal Inland Revenue Service (FIRS) reported on Monday that it collected over N10 trillion in tax revenue in fiscal year 2022, represented the highest tax collection ever recorded in its history. The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami, and released to […]
The Naira appreciated in exchange for the US dollar at the parallel market on Monday, trading at an average of N745/$1 in the morning hours of the day, compared to N746/$1 it exchanged during last Friday’s trading session, representing a 0.13% gain by the local currency. Some market traders confirmed that the gain recorded by […]