The Central Bank of Nigeria has incurred an estimated N1.55 trillion in interest payments for the 12 successful Treasury Bills (T-Bills) auctions conducted in the first six months of 2024. The interest costs in 2024 were approximately 654.7 percent higher…
…Seeks diversification of revenue base to reduce dependence on federal allocation …RMAFC commends Lagos, seeks to replicate economic success in other states By Sodiq Adelakun Lagos State has achieved a significant milestone in Internally Generated Revenue (IGR), increasing it by…
By Esther Agbo The Bank Directors Association of Nigeria (BDAN) has raised significant concerns about the proposed 70 percent windfall tax on profits from foreign exchange transactions, calling for a more measured approach in light of current economic conditions. In…
The newly elected President of the National Association of Microfinance Banks (NAMB), Alhaji Abubakar Ahmad has called on President Bola Tinubu to approve fiscal and other incentives for Microfinance Banks (MFBs). Ahmad made the call while delivering his post-election speech…
The Debt Management Office (DMO) has offered two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to a statement by the DMO on Monday in Abuja, the first offer is a two-year FGN savings…
The Central Bank of Nigeria (CBN) on Friday settled a total of $815.36 million out of $1.19 billion foreign exchange (FX) demand by end users funded by 26 banks at N1,495 The CBN disclosed this in a statement containing…
The Central Bank of Nigeria (CBN) has issued a clarification on the requirements for divestments and repatriation of foreign investments related to the Certificate of Capital Importation (CCI). In a circular signed by the Acting Director of the Trade &…
The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank. It also noted that 17.64 per cent of the insured deposits…
Naira gains as dollar crashes to 1,595 on black market The naira gained further on Thursday as the dollar crashed to N1, 595 on the parallel market, popularly called black market. This represents 0.94 percent (N15) gain over N1,610 quoted…
By Esther Agbo The Nigerian Autonomous Foreign Exchange Fixing (NAFEX) market witnessed a significant surge in trading activity during the first six months of 2024, with foreign exchange (FX) turnover soaring by 35.79 percent to $52.78 billion. However, despite the…
