Finance & Economy
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CBN Sets Savings Deposit Rate At Minimum 10% Of MPR
The Central Bank of Nigeria (CBN), directed on Monday, that with effect from September 1, 2020, interest rates on Naira…
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CBN authorises Payment Service Banks to sell forex
The Central Bank of Nigeria (CBN) has authorised Payment Service Banks (PSBs) to sell foreign currencies (forex) realised from inbound…
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In panic, forex speculators prepare to dump dollars
Forex speculators are apprehensive that a slew of circulars issued by the central bank during the week could lead to…
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FAAC Payout Well Short of States’ Needs
FAAC Payout Well Short of States’ Needs The gross monthly payout by the Federation Account Allocation Committee (FAAC) to the…
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CBN Resumes Sales of FX to BDC Operators
As part of efforts to enhance accessibility to foreign exchange particularly to travelers following the announcement of the limited resumption…
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Nigeria generates N1.29 trillion from taxes in Q2 2020, surpasses target
The Federal Inland Revenue Service (FIRS), generated a sum of N1.29 trillion tax revenue in Q2 2020, N19.15 billion in…
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CBN removes “third parties” from buying forex
The Central Bank of Nigeria has issued a circular removing buying agents/companies or any third parties from accessing its SMIS…
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Nigeria’s GDP Contracts by -6.10% YoY in Real Terms in Q2 2020 – NBS
Nigeria’s Gross Domestic Product (GDP) decreased by -6.10%(year-on-year) in real terms in the second quarter of 2020, ending the 3-year…
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FIRS: Total Collection Met 56% of Target in Q1 2020
From 2011 through to 2014 FIRS comfortably met its targets for collection. It has since fallen short because the administration…
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NNPC Signs Pact with Partners to Resolve OML 130 Dispute
In its bid to meet the target of revving up production to 3million barrels per day and unlock gas revenues…
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