Chinedu Nwoke, a customer of the United Bank of Africa (UBA) has dragged the bank to the Federal High Court, Yenagoa over unauthorised debit on… Read More »Customer drags UBA to court over alleged fraudulent deductions
In a move to bolster Nigeria’s economic reforms and revenue generation, the Federal Government has inaugurated the newly appointed Fifty (50) Tax Appeal Commissioners. The… Read More »FG strengthens tax reforms, inaugurates tax appeal Commissioners
BY SAM OTUONYE Central bank of Nigeria (CBN) has retained its benchmark interest rate at 27.50%, opting for stability after the rebasing of the consumer price index… Read More »CBN retains 27.5% interest rate after CPI rebasing
The National Oil Spills Detection and Response Agency (NOSDRA) says it is in receipt of a report of an oil spill incident at Obololi,… Read More »NOSDRA confirms oil leak from Shell’s underwater pipeline at Obololi community Bayelsa
In line with the NCC’s approval, Airtel Nigeria, the country’s second-largest telecom operator, has revised its data pricing structure and implemented tariff adjustments. This followed… Read More »Airtel raises data, call rates to reflect tariff hike
The banking industry’s capital adequacy ratio stood at 13.70 per cent in the month of November, 2024, a declined by 0.27 percentage point compared to 13.97… Read More »Banks capital adequacy ratio declines to 13.70%
BY SAM OTUONYE Nigeria’s banking regulator has issued a sweeping directive mandating commercial banks to comply with stricter insider lending limits or risk regulatory… Read More »CBN orders banks to regularise insider loans within 180 days
The Federal Government’s (FGN) Securities’ Net Asset Value (NAV) under the Pension Fund Administrators (PFAs) rose to 18.5%, reaching N14.1 trillion by the end of… Read More »Pension fund investment in FGN securities hits N14.1trn
The Pension Transitional Arrangement Directorate has received two brand new CNG-powered buses from the Presidential CNG Initiative. Announcing the donation on its social media pages,… Read More »Palliative: PTAD receives CNG buses
BY SAM OTUONYE The Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, has announced that the National Assembly has transmitted the Investments… Read More »Investments, Securities bill set to receive President Tinubu’s assent
BY SAM OTUONYE Nigeria’s annual inflation rate has been adjusted to 24.48% for January 2025 following a rebasing of the Consumer Price Index (CPI), the… Read More »CPI rebasing: FG adjusts inflation rate down to 24.48%
BY SAM OTUONYE Organisation of Petroleum Export Countries (OPEC) has said it is considering delaying a planned output hike as a Ukrainian drone strike on… Read More »OPEC mulls postponing April output hike amid geopolitical tensions
BY SAM OTUONYE Nigeria’s consumer credit outstanding rose significantly by 26.29 per cent to N4.42tn in November 2024, up from the preceding month’s figure of… Read More »Inflation drives consumer credit outstanding to N4.42trn
Food index drops to 26.08% from 39.84% Core inflation is now 22.59% from 29.28% New CPI reflects current inflationary pressure, consumption pattern, says statistical… Read More »Nigeria: After Rebasing, NBS Puts Headline Inflation at 24.48% in January from 34.80% in December
BY SAM OTUONYE Ahead of the 2026 recapitalisation programme of Nigerian banks, foremost rating agency, Fitch Ratings, has said the ongoing capital raisings… Read More »Fitch rates Nigeria’s bank recapitalisation drive successful
…firm legal action to be taken against those spreading falsehood – NNPCL threatens … NNPCL trying to be clever by claiming that some of the fuel… Read More »NNPCL, Dangote in logjam over pricing, product quality, importation allegations
Delight Chinedum Anambra state government has expressed confidence that the ongoing market stall digitization project would not only address recurring shop ownership… Read More »Soludo’s Aide optimistic digitization of Anambra markets will tackle traders’ tax evasion
Fitch Ratings, a leading provider of credit ratings, commentary and research, has said that Nigerian third-tier banks are more likely to pursue mergers and acquisitions… Read More »Recapitalisation: Tier 3 banks likely to adopt M&A activity, licence downgrades – Fitch