Trading on the floor of the Nigerian Exchange (NGX) was bullish on Friday with investors gaining N193 billion at the end of the week’s trading sessions as bulls sustained their grip on the local bourse during the day’s trading As expected, the market’s All Share Index (ASI) also increased by 0.69% to close at 51,222.34 […]
Despite public complaints against the deadline set by the Central Bank of Nigeria (CBN) on full withdrawal of old N200, N500 and N1,000 notes from circulation, the apex bank on Friday launched a countdown to the January 31 deadline when the old notes will cease to be legal tender. The apex bank while unveiling the […]
The Managing Director of Nonicoms Telecommunications Limited, Alhaji Umar Abdullahi, has charged telecom service providers in the continent to leverage the benefits of the African Continental Free Trade Agreement (AfCFTA) to grow the sector in the region. The industry top player was quoted in an interview with the News Agency of Nigeria (NAN) on Friday […]
The Debt Management Office (DMO), on Thursday reacted to growing concerns about Nigeria’s surging debt stock, saying there is no need for alarm as the debt remains manageable based on the existing debt management strategy. The DMO Director-General, Ms. Patience Oniha, in a statement in which she specifically reacted to media reports that the incoming […]
In furtherance of its efforts to ensure that the provisions of the Money Laundering Act are fully complied with in the nation’s public finance system, Nigerian Financial and Intelligence Unit (NFIU) on Thursday announced a total ban on cash withdrawal from Public Accounts and payment of Estacode and travel allowances in cash and criminalized it. […]
The Federal Government has assured the public of its readiness to act on the recommendations that may be submitted by the panel currently investigating the the N89 trillion Stamp Duty proceeds allegedly stolen from the Central Bank of Nigeria (CBN) accounts. A House of Representatives member, Hon. Muhammed Kazaure, had on December 14, 2022 raised […]
The Enugu Electricity Distribution Company (EEDC) on Thursday hinted of its plans to flag off the 2023 mobile mapping process for mass metering in Anambra on January 10 as part of its efforts to supply prepaid meters to un-metered customers in the state. The DisCo’s Head of Corporate Communications Department, Mr Emeka Ezeh, stated the […]
Latest data from DollarGeek, Nasdaq and Ycharts have reflected the growing dominance of Ehtereum network in the crypto market in 2022 as Ethereum recorded more than fourfold transactions over Bitcoin, the most popular cypto platform. Specifically, data from Nasdaq and Ycharts shared on Reddit on January 2 showed that there were 338% more Ether transactions […]
Apparently smarting on the shortfall of USD following the closure of most businesses in the country during the yuletide and New Year festivities, the Naira sustained its gain against the USD in the parallel market on Thursday morning and exchanged at N730/$1. The local currency’s exchange rate on Thursday represented an improvement of 0.82% from N736/$1 […]
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 […]