Category: Economy

Economy Drive: FIRS makes FAAC Fat

By: Salisu Na’inna Dambatta Many Nigerians hold the notion and presume wrongfully that every money invested in various development projects by the three tiers of...

CBN gives 10 days grace, Extends Deadline Of Old Naira Notes exchange

The Central Bank of Nigeria has extended the deadline for the exchange of old naira notes. Godwin Emefiele, governor of the bank, said President Muhammadu… The Central...

48 Hours To Naira Note Deadline, CBN Insists On Jan 31 Date

THE Central Bank of Nigeria has again said that the January 31 deadline for the validity of the old 200, 500 and 1,000 naira notes remains unchanged. This is as calls...

Nami’s Magic Wand: Restructuring Revenue Collection in Nigeria

By: Abdullahi Haruna Revenue generation is very critical to the survival of a country or otherwise all over the world. It is non-debatable that most poor countries of...

New naira notes: Court urged to restrain CBN, Emefiele on deadline

The Federal High Court in Abuja has been urged to among others, restrain the Central Bank of Nigeria (CBN) and its Governor Godwin Emefiele from implementing its January...

JUST IN: January 31 Deadline For Old Naira Notes Remains, CBN Gov Insists

The Central Bank of Nigeria (CBN) says its January 31, 2023 deadline for the validity of the old N200, N500 and N1,000 notes remains. The CBN Governor, Godwin Emefiele...

Forex allocations: DSS summons Emefiele, CBN Board members, 27 bank CEOs

. But CBN Gov may shun invitation . Met bank MDs in Abuja last Saturday to “strategise” on DSS’ summon Department of State Services over the weekend summoned the...

Buhari arrives in Lagos, to inaugurate Lekki Deep Seaport, others

President Muhammadu Buhari has arrived in Lagos on a two-day visit for a “Lagos Festival of Projects” commissioning. The presidential aircraft touched down at 3:33...

FIRS Breaks Its 2021 Record, Collects N10.1 Trillion In 2022

The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded in...

New notes: CBN creates more awareness to Adamawa traders

From Umar Dankano, Yola The Management of the Central Bank of Nigeria, CBN has urged Nigerians to report any commercial bank that does not dispense the new redesigned...

Oil Discovery in North: Group Commends NNPC Boss,Kyari for Breaking Jinx of Over Five Decades

Group under umbrella of Energy Consumers Rights Association (ECORA) has commended the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPCL) ,Eng....

NNPC discovers oil in Nasarawa

The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in...

Amid scarcity, Nigeria To Give Burundi Fuel

President Muhammadu Buhari said Nigeria will consider a request by the Burundian government to provide energy, especially in the form of fuel. The President gave the...

Abaza: APC candidate praises Emiefele for introducing policies in CBN that’s transforming Nigeria’s economy

Adamawa State candidate for the All Progressives Congress, APC, aspiring to represent the Federal Constituency of Girei, Yola South, and Yola North as its house of...

Sen Wamakko blasts Emefiele, says withdrawal limit over Naira redesign is thoughtless

Senator Aliyu Magatakarda Wamakko (APC-Sokoto) has joined Nigerians in criticizing the Governor of the Central Bank of Nigeria(CBN), Godwin Emefiele over the redesign of...

5m Nigerians pushed into poverty by Inflation as wage value down 35%

Concerns as analysts envisage gloomier days, says inflation may worsen According to the World Bank, Nigeria’s condition is getting worse, with worse economic...

We Establish NAPGCO to Protect Petroleum Industry Act , NNPCL -Group

As part of effort to strengthen petroleum and gas consumption in Nigeria, consumers have birthed an umbrella body to operate under the aegis of National Association of...

New naira notes go into circulation today; Banks reconfigure ATMs

The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter...

Petrol: NAPGCO Commends NNPCL Boss for Slashing Price To Tackle Brewing Scarcity

Group under aegis of National Association of Petroleum products and Gas Consumers, (NAPGCO) has commended the Group Managing Director of Nigerian National Petroleum...

CBN warns against abuse of naira notes

The Central Bank of Nigeria warned in Abuja on Tuesday that those abusing the naira notes were liable to go to jail. It warned that the law banning the “spraying’’...

Newly redesigned Naira now in banks, ready for issuance – Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance. According to...

‘We have 1.9bn litres in stock’ — NNPC assures Nigerians of petrol supply after DSS ultimatum

The Nigerian National Petroleum Corporation Limited, (NNPC) Limited, says it has 1.9 billion litres of petrol in stock as it assured Nigerians of steady supply to quell...

N20b Loan:Your time is up! Don’t enslave us before you go- Tarabans Chides Gov Darius

There have been bitter complaints by the people of Taraba State over the desire of the state governments to acquire another loan of twenty billion naira...

Take your old notes to the bank now, Emefiele warns Nigerians

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has asked Nigerians to take the current naira notes to the banks as quickly as possible. He said this while...

States and LGs’ Funds: Fintiri Knocks Buhari, says FG worst culprit of illegal deductions

Governor Ahmadu Fintiri has challenged the President, Major General Muhammadu Buhari (rtd.), to call out state governors, involved in the diversion of local government...

Nigeria has potential to become leading oil reserve in Africa – Reps

Members of the House of Representatives have tasked the Federal Government on the need to speed-up the Geo-Physical Survey/Seismic Data Acquisition. The House said it...

Labour decries unending petrol scarcity, demands immediate solution

The Federal Government has been urged by Organized Labour to find a quick fix for the fuel scarcity before things spiral out of control. It condemned the country’s...

We are not introducing N5000 note – CBN

The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated bank note as being speculated by some sections of the society. Ahmed Umar, the...

Fintiri has liquidated N15bn loan collected, state has the cleanest account – Finance Com

Adamawa State Commissioner of finance, Dr. Ishaya Dabari has disclosed that the Ahmadu Umaru Fintiri’s government only took N15 billion loan facility since...

Nigeria’s economic growth slows to 2.25% as oil production slumps

Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in the third quarter of 2022, the National Bureau of Statistics (NBS) has disclosed. The NBS in a...

With Naira Redesign, Dollar May Crash To N200 – EFCC Chairman

Abdulrasheed Bawa, the Chairman of the Economic and Financial Crimes Commission (EFCC) has stated that the redesigning of the Naira might make dollar crash to N200. Bawa...

See New Rate As Naira Gains Further In The Black Market

Dollar crashed massively on Saturday as Naira continued to gain in the black market. Gatekeepers News reports that the US dollar fell further on Saturday, November 12,...

Recruitment, apply for African Development Bank Group (AfDB)

TG News reports that the African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution,...

FEC approves N14.88bn for FIRS office construction

The Federal Executive Council has authorised a contract for the Federal Inland Revenue Service’s new office building and parking lot, valued at about N14.88 billion....

Nigeria’s public debt stock hits N42.84trn – NBS

Nigeria’s public debt stock increased from N35.46 trillion (86.57 billion dollars) in the second quarter of 2021 to N42.84 trillion (103.31 billion dollars) in the...

Dangote promises to deepen economic activities, sponsors 2022 Lagos Int’l Trade Fair

Pan African conglomerate, Dangote Industries Ltd has said it would continue to partner stakeholders to deepen commerce, industry and economic activities in the country...

We’ll help you solve economic problems if you win, Olu Falae tells Tinubu

A former Secretary to the Government of the Federation, Chief Olu Falae, has promised to help the APC presidential candidate, Bola Tinubu, to fix the economic problems...

Citizens should be fair to government by paying taxes-Nami, FIRS Boss

The moral right of citizens to demand accountability from government on what their taxes have been used for, is dependent on when citizens have themselves heeded to...

Fidelity Bank Acquires Union Bank

Fidelity Bank Plc has entered into a binding agreement to acquire a 100 per cent equity stake in Union Bank UK Plc. The bank said this in a corporate filing on the...

Dwindling Revenue: Nigeria facing existential threat, World Bank warns

The World Bank on Wednesday warned that Nigeria might be facing an existential threat, saying that if the country failed to optimise its tax system and pay attention to...

Call for advert