The National Economic Council (NEC) yesterday deliberated on the state of the nation’s economy. It resolved to improve the situation, especially by supporting the growth of Micro, Small, and Medium…
Category: BUSINESS
Tax revenue, Nigeria’s current highest source of income — AGF
The Federal Government has said that tax revenue is currently the nation’s highest source of income. The Accountant General of the Federation (AGF), Oluwatoyin Madein, disclosed this at the 26th…
CBN kickstarts strategy to double remittances
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting Approval-in-Principle (AIP) to 14 new International Money Transfer Operators (IMTOs). This…
Marginal 0.49% rise in inflation rate raises hope
Nigeria’s inflation rate recorded its slowest increase in April. It is the lowest margin of hike in the last one year, and indication that headline inflation is receding. The rate…
Bamboo launches Nigerian stocks to deepen retail capital markets
Bamboo Global Inc, an online brokerage firm, yesterday launched on its platform Nigerian stocks including blue chip corporations like Guaranty Trust Holding Company PLC, MTN, and Dangote Cement. In a…
PoS operators to drag CAC to court
Point of Sale operators under the aegis of the National President of the Association of Mobile Money and Bank Agents in Nigeria says it has concluded plans to head to…
NGX lists N4.1b AVA Infrastructure Fund
Nigerian Exchange (NGX) at the weekend listed N4.075 billion AVA Infrastructure Series 1 Fund on its trading platform. Regulatory filing showed that AVA Infrastructure Series 1 Fund’s 4,075 units were…
Stop electricity subsidy, IMF tells FG
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies. In a report published recently by the IMF, the organisation told…
EFCC stops dollar transactions, asks embassies to charge in naira
The Economic and Financial Crimes Commission has read the Riot Act to foreign missions based in Nigeria, banning them from transacting in foreign currencies, and mandating the use of Naira…
CNG buses to slash transport costs, curb inflation soon – Edun
The federal government has said that the introduction of Compressed Natural Gas (CNG) buses under the Presidential CNG Initiative (PCNGi) will lead to a substantial reduction in transportation costs, ultimately…