The Central Bank of Nigeria (CBN) has ordered International Money Transfer Operators (IMTOs) to begin payment of remittances to beneficiaries in both Naira and foreign exchange (FX). Similarly, the apex bank also directed that the Investors and Exporters’ (I&E) window FX rate should be used in determining the exchange rate for Naira pay-outs. The CBN, […]
President Bola Tinubu has written a letter to the Senate seeking approval to obtain a loan of $800 million from the World Bank to finance the Federal Government’s National Safety Net Programme. The president’s letter titled “Request for Approval of Additional Financing of the National Social Safety Net Programme Scale-up by the National Assembly” was […]
Investment analysts at Bancorp Securities Limited, a leading investment research and consulting services firm, have predicted that trading sentiments in the Nigerian Exchange (NGX) this week will be mixed as fiscal and macroeconomic policy measures of the new administration will affect investor sentiment. The experts, in the firm’s ‘Weekly Stock Recommendations Jul 10 – Jul […]
The Chairman of Heirs Holdings, Mr. Tony Elumelu, has urged investors in climate finance for energy in Africa to commit investments to a mix of on and off-grid solutions in order to achieve affordable, reliable, and accessible green energy in Africa. The renowned banker and leading hospitality and tourism investor made this remark at a […]
The Director-General of the West African Monetary Institute, Dr. Olorunsola Olowofeso has said that one of the aims of the West African Capital Markets Integration (WACMI) Phase II Project is to deepen West African markets as well as achieve robust and integrated capital markets. Olowofeso disclosed this during a 2-day Capacity Building/Sensitization Programme on West […]
The Federal Inland Revenue Service (FIRS) on Tuesday stated that companies that were unable to file their Companies Income Tax (CIT) returns for the 2023 year of assessment (Y-o-A) that fell due on the 30th of June 2023 have been given up to 31st August, 2023 to submit their returns. The Service, in a Public […]
The Lagos Chamber of Commerce and Industry (LCCI) has advised President Bola Tinubu to use his leadership of the Economic Community of West African States (ECOWAS) to facilitate the implementation of the proposed common currency – ‘eco’ – for the sub-region. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, in a statement released on Tuesday said the […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported the interception of a vessel conveying 800,000 litres of suspected stolen crude oil from the shores of the country The company’s Group General Manager, Corporate Communications Department, Mr. Garba Deen Muhammad, who gave this hint in a statement on Monday, indicated that the vessel and its […]
….As Lagos State attracts 62.23% of investment The total value of imported capital into Nigeria in the first quarter of this year (Q1 2023) increased to $1.13 billion from $1.06 billion recorded in the last quarter of 2022 according to the National Bureau of Statistics (NBS). The statistics agency, in its ‘Nigeria Capital Importation Q1 2023’ […]
In furtherance of its capacity development training programmes for Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) has organised a one-day training for over 1,000 small businesses across six states in the North-East and North-West zones of the country. The MSMEs were spread across Gombe, Maiduguri, Adamawa, Katsina, Sokoto […]