The Centre for the Promotion of Private Enterprise (CPPE), a leading economic think-tank in Nigeria, estimated the protracted acute cash scarcity has cost the country over N20 trillion even as the negative impacts on households and ordinary Nigerians cannot be quantified in monetary terms. The Centre’s Chief Executive Officer, Dr. Muda Yusuf, in a statement […]
The African Development Bank (AfDB) has launched an AUD 50 million 15-year Kangaroo Green Bond due March 2038 as part of its sustained initiatives towards the implementation of its Green Bond Framework aimed at supporting Africa countries’ transition to green growth. The new issuance, which is the bank’s sophomore green bond in the Australian dollar […]
The Naira stabilized its exchange rate against the US dollar at the black market on Thursday, trading at an average of N750/$1, the same rate it traded the previous day. Some FX traders at the FCT Wuse Zone 3 axis in the FCT attributed the local currency’s stability to renewed hope about improved business activities after […]
Nigeria’s equities market closed positive on Wednesday amidst buy-interests and sell-off among investors in a bulls-dominated trading session, thereby boosting the broad market’s performance. At the end of the trading session, the All-share Index (ASI) appreciated by 0.35% to close at 55,801.14 points while the market capitalization grew by N107 billion to close at N30.397 […]
The Central Bank of Nigeria (CBN) has announced the issuance of new operational guidelines for Open Banking in the country as part of its regulatory initiatives to enhance the nation’s financial system. The new guidelines will enable the sharing of customer-permissioned data sharing between banks and third parties such as fintechs and other financial service […]
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged global leaders and development experts to consider adopting a new way of measuring wealth of nations in view of the lapses in the current Gross Domestic Product (GDP) approach. Adesina, made this call when the United States’ nominee for World Bank Group […]
The National Bureau of Statistics (NBS) on Wednesday reported that on the aggregate, Nigeria’s Company Income Tax (CIT) collections for Q4 2022 totalled N753.88 billion, representing N56.31 billion decline from the N810.19 billion collections in the preceding quarter. The NBS, in its just published ‘Company Income Tax Q4 2022’ report disclosed that out of the […]
Yellow Card has launched additional five coins to its app to provide a wider-range of cryptocurrencies for its growing customers in Africa. The latest launch by the firm with a presence in 16 African countries allows customers to view and trade over seven digital assets including Bitcoin (BTC), Tether (USDT), Ethereum (ETH), USD Coin (USDC), […]
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 […]