By Sodiq Adelakun Following the unification of the naira, Nigeria’s total public debt rose by fiat to N82 trillion. It was N73 trillion before the unification. Recall that the Central Bank of Nigeria (CBN) issued a statement titled Operational Changes…
By Sodiq Adelakun Nigeria’s annual inflation rate rose for the fifth straight month to 22.41 percent in May 2023 from 22.22 per cent in the previous month, according to the latest inflation report released on Thursday. This was according to…
Economists have continued to give kudos to the Central Bank of Nigeria (CBN) for allowing the Naira to float freely on the Investors and Exporters (I&E) window. Banks are now allowed to trade foreign exchange on the I & E…
The Board of Directors of Stanbic IBTC Holdings Plc has announced the appointment of Mr Yinka Sanni as a Non-Executive Director. This was contained in the company’s notice to the Nigerian Exchange Limited (NGX). According to the company, the appointment…
In a bid to move away from a fixed foreign exchange policy, Nigeria’s Central Bank has loosened control of rates in what appears to be a managed float. It was gathered that from one of Nigeria’s leading banks that the…
Naira appreciated against the dollar by 0.18 per cent at the Investors and Exporters (I&E), on Tuesday, the first trading day after a shakeup at the Central Bank of Nigeria (CBN). After trading on Tuesday, the Naira to dollar was…
FirstBank of Nigeria Ltd. on Wednesday signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to develop and promote MSMEs. Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, said at the signing…
By Ibiyemi Mathew According to statistics by the National Bureau of Statistics (NBS), the Federal Government in the first quarter of 2023, generated N709.59 billion as Value Added Tax (VAT). In its “Sectoral Distribution of Value Added Tax” report for…
By Sodiq Adelakun The International Monetary Fund (IMF) has outlined priority policy options for fostering financial inclusion in Africa’s biggest economy. They are further increase in financial access points, promote digital financial services, improve financial literacy, upgrade framework for fintech…
Access Pensions has said it will provide personalised financial planning to ensure its customers transition to a comfortable retirement. The Managing Director, Access Pensions, Dave Uduanu, said the financial future of its customers was a priority, and with its in-house…
