The Nigeria Customs Service (NCS), Onne Area ll Command has reported that it generated N242 billion revenue in year 2022, up from the N188.7 billion it raked into Federation Accounts in the preceding year. The Customs Area Controller, Auwal Mohammed, who gave these figures in a statement issued at the weekend, linked the improved performance […]
The Naira on Monday sustained its exchange rate value against the US dollar at the parallel market, trading at an average of N735/$1 in the noon hours, the same value it had traded in the last three trading sessions. Some of the black market dealers linked the sustained rebound of the local currency to more […]
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that bank customers transferred a total of N19.4 trillion over mobile devices last year, representing a 142% surge year-on-year (Y-o-Y) when compared to the N8 trillion mobile transactions in the preceding year. The agency also disclosed that the volume of mobile inter-scheme transactions rose by 151% year-on-year […]
Bulls sustained their grip on Nigeria’s equities market trading session on Friday thereby boosting the market capitalization by N253 billion at the close of the day. The All-share Index (ASI) appreciated by 0.89% to close at 52,512.48 points while the market capitalization closed at N28.602 trillion and the Year-to-Date (Y-t-D) returns settled at 2.46%. Since […]
The Deputy President of the Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s organized private sector (OPS) advocacy groups, Mr. Gabriel Idahosa, has projected Nigeria’s agricultural sector could record 5%-6% growth in 2023 if the issues of insecurity and infrastructure are addressed by the government Idahosa, who made this forecast when he featured […]
The Bank of Industry (BOI) on Friday updated the public on the implementation and disbursement of grants under the Nigeria COVID-19 Action Recovery and Economic Stimulus Programme (NG-CARES). The bank stated that the clarification became imperative in view of the numerous public enquiries on the NG-CARES as they related to eligibility criteria and processing of […]
Nigeria’s Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced the roll out a proprietary software for the collection of data on the indices to be used for the Horizontal Revenue Allocation Formula in the country. The Chairman of the Commission, Mohammed Bello Shehu, disclosed this in Abuja while announcing the take-off of its maiden […]
Access Holdings Plc has notified its shareholders, Nigerian Exchange Limited (NGX), capital market stakeholders and the investing public that it will no longer continue in its plan to acquire the entire 83.4% shareholding held by Centum in Kenya’s Sidian Bank Ltd. A statement on the latest position of the Nigerian top lender signed by its […]
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that the nation’s electronic payment transactions (e-transactions) rose to N387 trillion in 2022, representing 42% increase over the N272 trillion recorded in 2021 as more Nigerians embrace cashless payments. The just released data on the NIBSS Instant Payment (NIP) transactions reflected that the e-payment surged month-on-month during […]
The Nigeria Customs Service (NCS), Apapa Command, has reported that it generates N1.02 trillion as revenue to the Federation Account in 2022 fiscal year, representing 16.07 percent improvement over the N870.38 million it generated in 2021. The Command’s Controller, Malanta Yusuf, who disclosed this in Lagos, attributed the improved performance of the Command to his […]