Following its indictment by the Nigerian government on alleged manipulation of the country’s foreign exchange market and subsequent order given to it to discontinue its services in the country, Binance, a leading cryptocurrency trading platform, has advised Nigerians trading on its exchange to withdraw all their NGN assets. Specifically, Binance disclosed that it would no […]
The Naira depreciated against the US dollar at the parallel foreign exchange (FX) market in the noon hours of Tuesday when it traded at N1,630/$1, representing a 1.84% depreciation from the N1,600 rate it closed at on Monday. Also, market assessment conducted by our correspondent in the Federal Capital Territory (FCT) reflected that the local […]
The International Monetary Fund (IMF) has warned that price caps on fuel and electricity tariffs below the cost recovery could result to a fiscal cost amounting to 3% of Nigeria’s Gross Domestic Product (GDP) in 2024. The warning was given by the staff of the Fund in their report on completion of their mission to […]
The Economic and Financial Crimes Commission (EFCC), has disclosed that approximately 70% of financial crimes in Nigeria are connected to banks. The chairman of the anti-graft agency, Ola Olukoyede, gave this hint during his address at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria held […]
The Federal Government of Nigeria has organised six zonal public hearings across the country for the review of the National Minimum Wage. The hearings are scheduled to hold in the North-East (Yola), North-West (Kano), North-Central (Abuja), South-South (Uyo), South-East (Enugu), and South-West (Lagos). The South-West Zonal Public Hearing, which will be chaired by the Minister […]
….Pledges Sustained Joy For Insured In Life Assurance African Alliance Insurance has expressed its commitment to exceeding expectations of its stakeholders, particularly in this period of hard times. The company, a leading player in the risk-underwriting business with over six decades of expertise in the life assurance sector, is presently charting a course to making […]
As anxieties continue to mount over the planned implementation of the Stephen Oronsaye report by the Federal Government, the Association of Senior Civil Servants of Nigeria (ASCSN), has warned that job losses associated with the implementation of the report could further escalate industrial action by the organized labour in the country.. The National President of […]
The Nigerian Communications Commission (NCC) on Monday clarified why previously connected SIM cards to subscribers’ National Identification Numbers (NINs) were blocked by mobile network operators (MNOs). The commission’s Director, Public Affairs Department, Reuben Muoka, who made this clarification when he featured on Channels Television’s Morning Brief Programme, explained that subscribers whose NINs were not properly […]
The Lagos State Internal Revenue Service (LIRS), on Monday issued a formal notification to all individual taxpayers, including self-employed individuals and employees under the PAYE Scheme to file their annual tax returns on or before 31st March this year in compliance with the stipulations outlined in the Personal Income Tax Amendment Act (PITA) Cap P8 […]
Amid the prevailing foreign exchange FX and other micro and macroeconomic whirlwinds in Nigeria’s landscape, investment experts at Bancorp Securities Limited, a leading investment research and consulting services provider, have predicted trading sessions in the Nigerian Exchange (NGX) would be dominated by bears. The analysts, who made the forecast in the firm’s ‘Weekly Stock Recommendation […]