Banking. Revenue. TechnoBiz
The Nigerian National Petroleum Company (NNPC) Limited has reported that total payments on fuel subsidy in the 10-month period from January through October this year totalled N1.03 trillion. This is even as it stated that it would deduct N199 billion being October 2021 under-recovery from its November 2021 remittance to the Federation Account. The oil […]
Despite the sustained recovery of Nigeria’s economy over the past few quarters, the nation still recorded a huge deficit in its merchandize trade in the third quarter of this year, posting a negative trade balance of N3,023.50 billion during the quarter. During the review period, the country’s total merchandize trade value totaled N13,284.09 billion, with […]
The Nigerian Communications Commission (NCC), has rebutted a media report suggesting that it shifted the bid submission deadline for 5G spectrum after only MTN submitted its bid for the spectrum bidding process. The commission’s Director, Public Affairs, Dr. Ikechukwu Adinde, in a statement debunking BusinessDay newspaper report of Thursday, December 2, 2021 with the headline […]
The US Securities and Exchange Commission (SEC) has adopted amendments to finalize rules implementing the submission and disclosure requirements in the Holding Foreign Companies Accountable Act (HFCAA). A statement by the commission indicated that the rules apply to registrants the SEC identifies as having filed an annual report with an audit report issued by a […]
Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda, has identified technological innovations as one of the factors that could enhance the efficiency and transparency of capital markets globally and enable financial intermediation, thereby making it easier for investors and market professionals to identify opportunities and conduct their businesses in a timely and […]
The Federal Inland Revenue Service (FIRS) has explained why Nigeria did not sign the Organisation for Economic Cooperation and Development (OECD) G20 Inclusive Framework two-pillar solution to tax challenges of the digitalized economy. The OECD G20 Inclusive Framework two-pillar solution proposes a framework of rules aimed at tackling base erosion and profit shifting, and providing for […]
The Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Mr. Muda Yusuf, has given his support to the planned removal of fuel subsidy by the Federal Government from February 2022, saying the move is necessary for the nation’s economy to grow. The Minister of Finance, Budget and National Planning, Zainab Ahmed, had […]
A new report by the Organization for Economic Cooperation and Development (OECD) has placed Turkey ahead of the United Kingdom as the second-fastest growing economy in the third quarter of 2021. In the report published on Tuesday, Chile topped the OECD-countries’ growth chart, with the economy recording the highest gross domestic product (GDP) growth rate […]
German consumer price inflation rose further in November to hit another record high, thereby increasing pressure on the European Central Bank (ECB) to react. Preliminary data on the country’s inflation released on Monday by the Federal Statistics Office showed that Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, […]
Moody’s Analytics has launched Risk Integrity Investment Insight, an asset-liability management (ALM) solution for risk underwriting companies. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers build liability-aware investment portfolios and better evaluate their investment strategies across a range of business metrics. Commenting on the new risk management solution, […]