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Nigeria’s Inflation Rate Dips To 18.12% In April

The National Bureau of Statistics (NBS) has reported a slight decrease in Nigeria’s Consumer Price Index (CPI), which measures the general price level (inflation) in the economy, from 18.17 percent rate recorded year-on-year in March to 18.12 percent in April 2021. The NBS stated that the drop represented 0.05 per cent points lower than the […]

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Buhari Seeks N/Assembly’s Approval For New $6.8Bn Loan

President Muhammadu Buhari on Tuesday formally requested the Senate’s approval of a new $6,18 billion (about N2.3 trillion) foreign loan to part-fund the 2021 budget. The President’s request was conveyed in a letter read at the Red Chamber’s plenary by the President, Senator Ahmad Lawan. Buhari indicated that the new loan loan, if approved, would […]

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Vertiv Introduces New Micro Data Centre System

Vertiv (VRT), a global provider of critical digital infrastructure and continuity solutions, on Tuesday introduced the Vertiv™ VRC-S, a fully factory-assembled micro data center designed for fast, easy installation at the edge of the network and other small Information Technology (IT) sites. A news report by African Press Organisation (AGO) Group on the latest technology […]

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Nigeria’s Corporate Tax Collections Grew 32.84% In Q1,2021

Indications that the nation’s economy is gaining productive traction have emerged with the Company Income Tax (CIT) collections rising to N392.77billion in the first quarter this year, representing 32.84 percent year-on-year (YoY) increase over collections in the corresponding quarter of last year. The latest Company Income Tax By Sectors (Q1, 2021) just published by the […]

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We Handled N11.7Bn Claims’ Complaints By Depositors In 2020 – CIBN President

The Chartered Institute of Bankers of Nigeria (CIBN) reported that it handled 67 petitions lodged by depositors against banks with their claims amounting to N11.7 billion in the 2020 financial year. The professional body, which stated this in its 2020 Annual Report sourced by our correspondent at the weekend, indicated that out of the cases, […]

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Amaechi Inaugurates C’mttee On Alleged Unremitted N165Bn By NPA

The Minister of Transportation, Rotimi Amaechi, has set up an 11-man investigative panel to probe alleged misappropriation of over N165 billion by the suspended Hadiza Bala-Usman-led management of the Nigerian Ports Authority (NPA). Bala-Usman was suspended by President Muhammadu Buhari last Friday following allegations of non-remittance of N165 billion surplus revenue to the coffers of […]

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NDIC Chief Seeks Banking System Regulators’ Cooperation To Enhance Professionalism

Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry. Hassan, in a statement issued by the corporation’s Director, Communications and Public Affairs, Bashir […]

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Insecurity: Reps Urge FG To Suspend 2021 Population, Housing Census

The House of Representatives on Wednesday urged the Federal Government to immediately suspend the proposed 2021 population and housing census planned to be conducted by the National Population Commission (NPC), due to rising insecurity challenge in the country. The lawmakers’ advice was sequel to the adoption of a motion of urgent public importance on the […]

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NBS Seals MoU With NPA On Data Analytics, Capacity Building

The National Bureau of Statistics (NBS) on Tuesday signed Memorandum of Understanding (MoU) with the Nigerian Ports Authority (NPA) as part of its collaborative initiatives with stakeholders in the nation’s political economy to enhance the nation’s statistical system. In his remarks during the pact with the NPA, the Statistician General of the Federation, Dr. Yemi […]

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NAMB Lauds Reps’ Position On MFBs’ Recapitalization Deadline

The National Association of Microfinance Banks (NAMB) has described the House of Representatives’ stance urging the Central Bank of Nigeria (CBN) to suspend the April 2021 deadline set for the ongoing recapitalization drive for microfinance banks based on the lingering COVID-19 pandemic-triggered disruptions of the nation’s economy as a welcomed development. The lawmakers’ advice was […]