Economy
CBN Strengthens Diaspora Ties to Boost Nigeria’s Economic Growth
In a strategic move to harness the economic potential of Nigeria’s diaspora, the Central Bank of Nigeria (CBN) has led a combined team of the Nigeria Inter-Bank Settlement System (NIBSS), major Nigerian banking institutions, and International Money Transfer Operators (IMTOs), to engage with the Nigerian Diaspora community in Houston, Texas,…
Read More »IMF retains global growth at 3.2%, as inflation recedes
The International Monetary Fund (IMF), says global growth is projected to remain unchanged at 3.2 per cent in 2024 and 2025, as Inflation recedes. This is according to the IMF’s latest World Economic Outlook (WEO) Update Report for October 2024: “Policy Pivot, Rising Threats,” released on Tuesday during the IMF/…
Read More »FG, states, LGs share N1.298trn for September
Federal Accounts Allocation Committee (FAAC), has shared N1.298 trillion among the Federal Government, states, and the Local Government Councils (LGCs) for September. A communique issued at the end of FAAC meeting for October held on Thursday in Abuja said N1.298 trillion total distributable revenue comprised distributable statutory revenue of N124.716…
Read More »Access Bank Reaffirms Commitment to Nigeria’s War Against Illicit
Access Bank PLC has reinforced its dedication to the fight against illicit drug trafficking and money laundering, committing to a closer partnership with the National Drug Law Enforcement Agency (NDLEA). The bank made this commitment at the formal decoration of its Group Chief Executive Officer/Managing Director, Roosevelt Ogbonna, and Group…
Read More »Nigeria’s inflation up by 0.55% to 32.70% in September
Nigeria’s headline inflation rate increased to 32.70 per cent in September 2024, according to the National Bureau of Statistics (NBS). The Statistician-General of the Federation, Adeyemi Adeniran in a statement issued on the Consumer Price Index (CPI) and Inflation Report for September 2024 in Abuja on Tuesday showed that the…
Read More »CBN Reaffirms Commitment to Financial System Stability, Safety of Depositors’ Funds
The Central Bank of Nigeria (CBN) reiterates its strong commitment to safeguarding the stability and security of the Nigerian financial system. The apex bank in a statement on Tuesday by its Acting Director, Corporate Communications, Hakama Sidi Ali, said CBN recognises the crucial role that confidence plays in banking operations…
Read More »FAAC: FG, States, LGs Share N1.2trn August, 2024 Revenue
By Abiodun Folarin, Abuja A total sum of N 1.203 trillion August 2024 Federation Accounts Revenue has been shared to the Federal Government, States and Local Government Councils in the country. The revenue distribution was announced at the September 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja.…
Read More »Nigeria: FG says no increase in taxes as revenue more than double at N9.1trn in Q1
The Federal Government of Nigeria’s revenue for the first quarter of 2024 increased to N9.1 trillion which is more than double in the same period in 2023, according to Mr Wale Edun, the Minister for Finance and Coordinating Minister of the Economy. Edun represented by Dr Armstrong Takang, the Managing…
Read More »Blue Economy: Nigeria set to host deep seabed workshop
As part of efforts to harness the Blue Economy sector for sustainable growth and development in Nigeria, the Federal Ministry of Marine and Blue Economy is set to host a global workshop on Deep Seabed activities. This initiative is in collaboration with the Nigerian Maritime Administration and Safety Agency (NIMASA).…
Read More »Petrol price hike: Tinubu betrayed us – NLC
The Nigeria Labour Congress(NLC) has called for the immediate reversal of the new price increase in pump price of petrol across the country. The Congress made the demand in a statement issued on Tuesday in Abuja by its President, Mr Joe Ajaero and made available to newsmen. The Nigerian Petroleum Corporation Ltd.…
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