No plan to reduce duty on imported vehicles – Customs

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles. There are speculations that the service has reviewed the tariff on imported used…

CBN fines three banks N800m over crypto transactions

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. According to a…

NIN-SIM linkage: Angry subscribers besiege enrolment centres

Angry and frustrated subscribers affected by the partial Subscriber Identity Module (SIM) deactivation order of the Federal Government yesterday thronged the offices of the telecoms companies to find out why…

CBN warns of illegal firms promising outrageous returns

THE Central Bank of Nigeria has warned the public to avoid dealing with unlicensed or illegal financial operators who lure and defraud unsuspecting members of the public with promises of…

IMF Proffers Way out of Nigeria, Others’ Monetary Policy Challenges

The International Monetary Fund (IMF) has stated that Nigeria and other Sub-Saharan African countries were facing monetary policy challenges, urging them to cut down vulnerabilities, which it listed to include…

NGX Fixed Income Market Cap Hits N21.43trn amidst Uncertainty

Despite uncertainty in the global economy coupled with the weak macroeconomic challenges in Nigeria, the market capitalisation of the Nigerian Exchange Limited (NGX) Fixed Income rose to N21.43 trillion at…

CBN imposes heavy sanctions on banks over mutilated notes

The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has…

Diesel: Telcos lament high operational cost, seek FG’s intervention

Telecommunication providers under the aegis of the Association of Licensed Telecommunications Operators of Nigeria have said the rising cost of diesel has impacted negatively on their operational costs and that…

Stock Market Shrugs Off Insecurity Worries, Gained N3.02trn in Q1

The market capitalisation of the Nigerian Exchange Limited (NGX) gained N3.02 trillion in the first quarter (Q1) of 2022, notwithstanding the growing insecurity concerns in the country. The market performance…

Senate orders MultiChoice, others to halt tariff hike

The Senate has directed pay-tv service providers to halt the increase in their prices in tandem with the economic situation in Nigeria. Specifically, it kicked against the increase in tariffs…