CBN Raises Banks’ CRR To 27.5%
The Monetary Policy Committee of the Central Bank of Nigeria on Friday altered the Cash Reserves Ratio from 22.5 per cent to 27.5 per cent. The Cash Reserve Ratio is…
Nigeria’s Total Debt Increases To N26.2tr – DMO
Nigeria’s total debt stock comprising the debts of the Federal Government, 36 states and the Federal Capital Territory (FCT) as at September 2019 now stands at N26.215 trillion Director General…
Nigeria, Ghana, 4 Others Reject ‘Eco’ Currency
The six member countries of the West African Monetary Zone (WAMZ) comprising Nigeria, Ghana, Gambia, Guinea, Liberia and Sierra Leone, have rejected the adoption of ‘Eco’ as the name of…
7.5% VAT Rate Takes Off -AGF
The implementation of the newly introduced 7.5 per cent hike in Value Added Tax (VAT) and related tax adjustments in the 2010 Finance Act has commenced, says Accountant-General of the…
Kaduna Seals-Off Banks Over N292m Tax Debt
The Kaduna State Internal Revenue Service (KADIRS) has sealed off three branches each of the First City Monument Bank (FCMB) and Keystone Bank in Kaduna. Our correspondent gathered that the…
CBN Defends Naira With $16.56b In 12 Months
THE Central Bank of Nigeria (CBN) spent nearly $16.56 billion to defend the naira in the last one year, The Nation has learnt. Analysis of the regulator’s half year report…
Dangote To Diversify Investments Over Naira Risks
Africa’s richest man, Aliko Dangote, on Thursday disclosed plans to diversify his investments to the New York, United States. The billionaire will take office space in New York to help…
Nigeria, Others Pushed Global Debt To $188tn – IMF
Total global debt rose by $3tn to $188tn at the end of 2018 as Nigeria, China and other countries increased their borrowings, the International Monetary Fund said on Tuesday. Nigeria’s…
Senate Advocates Nuclear Energy, As Nigeria Seeks Russia’s Expertise
The Nigeria Senate advocated the need for the inclusion of nuclear power into the country’s energy mix. The development was sequel to federal government’s plan to diversify the nation’s energy…
Buhari Calls For Recapitalization Of African Energy Investment Corporation
By our business correspondent President Muhammadu Buhari, yesterday warned African Petroleum Producers Organization (APPO) that investment funds for the oil industry are fast drying up and emphasized the need for…
