The Central Bank of Nigeria (CBN) has reviewed upwards, the operations of the Nigeria Inter-Bank Settlement System (NIBSS) and other electronic payment operations. The monetary policy measure was contained in a circular issued by the apex bank’s Payments System Management Department, Mr. Musa Jimoh, and hoisted on the bank’s website. The Director stated that the […]
The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some states and local governments in the country. The Service’s latest move is contained in a Public Notice, signed by its Executive Chairman, Muhammad Nami, in which it stated that most […]
Nigeria’s electricity generation fell to one-month low on Tuesday by 5.87% to 79,872.94MWh compared to 84,849.41MWh generated on Monday. According to information provided by the Transmission Company of Nigeria (TCN) on the electricity generation situation in the country for the day in review, the energy supplied also fell to 78,835.73MWh on Tuesday. A further analysis […]
The Nigerian Export Promotion Council (NEPC) has advised exporters in the country, particularly those in Imo State, to take advantage of its export incentive schemes to grow their businesses. The council’s Executive Director, Dr. Ezra Yakusak, gave the advice on Wednesday in his address during the sensitisation forum on export incentives organized by the council […]
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that three million bank account owners in the country enrolled for the Biometric Verification Number (BVN) from January to May 29 this year, raising the number of enrolments to 54.7 million so far. According to the data released by NIBSS, as of December 26, 2021, the total […]
Nigeria’s equities market traded value dipped on Tuesday as market capitalisation stood at N422 billion to close at N28.567 trillion from N28.989 trillion value recorded at the end of the preceding day’s trading. The All-Share Index (ASI) also dipped by 1.45 per cent to 52,990.28 points from 53,772.14 points recorded on Monday. Even then, the […]
The Nigerian Communications Commission (NCC) has hosted the second edition of the Nigerian Telecoms Leadership Summit in line with its tradition and commitment to engaging with stakeholders in the telecom ecosystem with a view to pursuing proactive regulatory interventions targeted at ensuring a conducive operating environment and improved investment climate in the Nigerian telecoms sector. […]
The Nigeria Customs Service (NCS) has projected to generate $176 billion over the next 20 years through the implementation of ongoing e-Customs project. The Service’s Comptroller-General, Col. Hameed Ali (rtd) made this forecast on Monday during the signing of e-Customs Concession Agreement between the NCS, Africa Finance Corporation (AFC) and China’s Huawei Technologies Limited in […]
The Director General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has said that efficient functioning of capital markets in the West African Region requires a regular assessment of policies and programmes to fit current realities, and address the region’s peculiar challenges. The Director General made this remark during the West African […]
The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s national statistical system, has reported that the Information and Communications Technology (ICT) sector contributed 16.20% to the nation’s Gross Domestic Product (GDP) in the first quarter of 2022. The ICT sector covers activities in four sub-sectors, namely Telecommunications and Information Services; Publishing; Motion Picture, […]