The National Bureau of Statistics (NBS) has reported that on the aggregate, Nigeria’s Value Added Tax (VAT) collections for Q4 2022 increased to N697.38 billion, representing a growth rate of 11.51% on a quarter-on-quarter basis from N625.39 billion in Q3 2022. The statistics agency, in its just published report titled ‘Value Added Tax (VAT) Q4 […]
The Naira slightly appreciated by 0.27% in its exchange rate against the US dollar at the black market on Tuesday, trading at an average of N748/$1, from the N750/$1 it exchanged at during Monday’s trading session. Black market dealers in the FCT linked the local currency’s rebound partly to the Supreme Court judgment on the Naira […]
Investment and economic research experts at Bancorp Securities Limited, one of Nigeria’s investment research and consulting firms, have projected that trading in the nation’s equities market will be characterized by mixed sentiment this week amid profit-taking by investors. The analysts, in the firm’s ‘Weekly Stock Recommendations: Mar 06 – Mar 10 2023’ sourced by our […]
….Estimates N10Trn Yearly Savings From FX, Fuel Subsidy Removal The Centre for the Promotion of Private Enterprise (CPPE), one of the private sector advocacy groups in Nigeria, has highlighted some key economic development initiatives the incoming administration should prioritize in its reform agenda to strongly position the nation’s economy on the path of sustainable growth […]
Nigeria’s equities market closed positive on Monday amidst buy-interests and sell-off among investors in a bulls-dominated trading session, thereby boosting the broad market’s performance. As a result of the bullish trend in the bourse, the All-share Index (ASI) appreciated by 0.13% to close at 55,605.57 points while the market capitalization grew by N42 billion to […]
Wema Bank Plc, one of the old generation banks in the country, has advised Small and Medium Enterprises’ (MSMEs) owners and managers in the country on the need for them to upscale their skills and operational strategies, including those relating to financial management, to grow their businesses. The call was made during the Business Growth […]
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, on Monday disclosed that Nigeria’s digital economy had attracted about $4.4 billion investments over the past four years. Inuwa gave this hint at a media chat organized by the Ministry of Women Affairs with the theme ‘DigitALL: Innovation and Technology for Gender Equality’ […]
The Central Bank of Nigeria (CBN) has reported the recovery of over N500 billion under the Anchor Borrowers’ Programme (ABP) loans, representing 52.39% of the total disbursements, from farmers and other beneficiaries as of the end of February this year. The apex bank’s Acting Director, Corporate Communications Department, Dr. Abdulmumin Isa, who gave these figures […]
Flutterwave, one of the fast-growing digital payments startups in Africa, has denied reports of a hack on its platform which allegedly indicated that its customers lost about N2.9 billion to the incident. The company, it a statement on Sunday, maintained that its platform was not hacked as alleged by some news report but that it […]
The National Institute of Security Studies (NISS) has solicited the cooperation of the Nigerian Communications Commission (NCC) in the deployment of Information and Communications Technology (ICT) tools and solutions for improved national security. Speaking during a visit to the Executive Vice Chairman of the Commission, Prof. Umar Danbatta, in Abuja, the Institute’s Director, Research Estimates […]