CBN Retains MPR at 27.5
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its meeting on July 21 and 22, 2025 to decided to maintain the current monetary policy stance…
Category: Banking & Finance
IMF Commends FIRS Role in Nigeria’s Tax Administration, Reforms
The International Monetary Fund (IMF) has commended the Federal Inland Revenue Service (FIRS) for the significant progress it has made in tax administration and Reforms in Nigeria. A Senior Economist…
NESG: 2025 Tax Reform Acts to Birth Transparent Tax System if Implemented Well
The Nigerian Economic Summit Group (NESG) has declared that the 2025 Tax Reform Acts, would deliver “a more equitable, efficient, and transparent tax system provided its implementation is timely, inclusive,…
FG Pegs Public Interest Entities Annual Dues at ₦25 million
The federal government has directed the Financial Reporting Council of Nigeria (FRC) to peg the annual dues payable by private sector’s Public Interest Entities (PIEs) at ₦25 million. The federal…
FITC: ESG is Central Lever of Economic Competitiveness, Institutional Resilience, National Transformation
The Managing Director/CEO, Financial Institution Training Centre (FITC) Dr. Chizor Malize, has said that Environmental, Social and Governance (ESG) is central to economic competitiveness, institutional resilience, and national transformation. Malize…
Reps give Customs seven-day ultimatum to halt illegal levies
Isaac Samuel The House of Representatives Committee on Customs and Excise has issued a seven-day ultimatum to the Nigeria Customs Service (NCS) to stop the collection of the one per…
Reps uncover N9.4trn debt in oil sector, recover N86.5bn
Isaac Samuel The House of Representatives Public Accounts Committee (PAC) has uncovered over N9.4 trillion in unpaid financial obligations owed to the Federation Account by several oil and gas companies…
CBN Affirms Strength of Banking Sector, Issues Routine Transitional Guidelines for Select Institutions
As part of its ongoing efforts to strengthen the banking system, the Central Bank of Nigeria (CBN) introduced time-bound measures for a small number of banks still completing their transition…
Fayemi Alleges Delay over Implementation of 2025 National Budget
Fayemi Alleges Delay over Implementation of 2025 National Budget Former Ekiti State Governor, Dr. Kayode Fayemi, has alleged that the administration of President Bola Tinubu has not released funds to…
BudgIT Reveals National Assembly’s Crazy Insertions in 2025 Budget
The BudgIT has itemized some of the crazy Insertions in the 2025 federal government’s budget, which revealed that the National Assembly 1,477 streetlights for N393.29 billion. It said that with…
United Capital Rolls Out N1bn Children Investment Fund
The United Capital Asset Management Limited (UCAM) will roll out its N1 billion Children Investment Fund (CIF) today at a minimum of N5 million per subscriber through Initial Public Offer…
Tinubu seeks NASS approval for fresh $21.5bn, €2.2bn loans
Isaac Samuel President Bola Ahmed Tinubu on Tuesday asked the National Assembly to approve $21.5 billion and €2.2 billion in fresh external loans to finance key infrastructure projects across Nigeria…
Investors Lost N7.893bn as Market Capitalisation Declined by N68.945 trillion
The NGX equity market capitalization dropped by N7.893 billion on Monday, May 19. The market opened at N68.953 trillion but closed at N68.945 trillion. Also, the NGX All-Share Index (NGX-ASI)…
2025 Budget: BudgIT Alleges N6.93trn Inserted Via 11,122 Projects by National Assembly
The BudgIT has alleged that 11,122 projects valued at N6.93 trillion were inserted by the National Assembly into the 2025 federal government’s budget. The BudgIT’s breakdown of the alleged insertions…
Reps caution CBN on unintended consequences of high interest rates
Isaac Samuel The House of Representatives Committee on National Planning and Economic Development has cautioned the Central Bank of Nigeria (CBN) against the unintended consequences of maintaining high interest rates…
2024: Nigerian Leasing Industry Hits N5.16trn Transactions, Records 23.2%
The Equipment Leasing Association of Nigerian (ELAN) has announced that the Nigerian leasing industry recorded N5.16 trillion transactions in 2024, which represented a growth of 23.2 per cent against N4.19…
Reps summon CBN governor, finance minister over non-payment of contractors
Isaac samuel The House of Representatives has summoned the Minister of Finance and Coordinating Minister of the Economy, Wale Edun and Governor of the Central Bank of Nigeria (CBN), Yemi…
CSCS Launches USSD code Service
Central Securities Clearing System PLC (CSCS), has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, which would go live on May 8, 2025. The USSD…
FRC: IAS-29 Not Applicable for Year 2025 Financial Statements
The Executive Secretary/ CEO of Financial Reporting Council of Nigeria (FRC), Dr. Rabiu Olowo, has announced that companies in Nigeria should not apply IAS 29 in preparing their Year 2025…
How Access Bank spent the N351 billion raised from its rights issue
David Olujinmi Access Holdings spent the bulk of the N351 billion capital raised during its 2024 rights issue on acquiring Standard Chartered subsidiaries across Africa, the bank has revealed. Roosevelt…
Panic As Hackers Steal ₦9.3 Billion Customer Funds From Union Bank
Union Bank of Nigeria Plc is scrambling to recover a staggering N9.3 billion stolen from customers’ accounts in a sophisticated fraud linked to a major system breach. The incident, which…
Uphold principles of transparency, equity in your duties- VP Shettima urges RMAFC members
Comfort Isaac Vice President Kashim Shettima has asked staff members of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) to uphold the principles of transparency, equity and service excellence in…
Access Holdings shareholders meet May 15 to consider a ‘’resilient performance’’
By ETIM ETIM Shareholders of Access Holdings will meet in Lagos on May 15 to consider the group’s financial results for FY 2024 and review its expansion strategy for the…
Access Holdings Records 88% Growth in Gross Earnings to N4.878 Trillion
Access Holdings PLC, a leading African financial services group, has announced its audited financial results for the full year ended December 31, 2024. The Group delivered 88% year-on-year growth in…
SEC bans operation of non-registered Digital Security, FX Exchanges
Securities and Exchange Commission (SEC) has declared that it is illegal under the Investment and Securities Act (ISA 2025) for anyone to operate digital asset exchanges or online foreign exchange…
To Save the Naira
Nigerian Naira again: “The Central Bank of Nigeria (CBN) on Friday injected $197.71 million into the foreign exchange (FX) market in a bid to restore calm as the naira crashed…
Access Bank’s N400 billion Commercial Paper
…Banks may resort to Commercial Paper to offset high interest expense By ETIM ETIM The decision of Access Bank to issue a N400 billion Commercial Paper (CP) to raise short-term…
CBN Governor: Banks recapitalization going well
With only one year left for banks to meet the deadline for the new share capital benchmarks, the Central Bank Governor, Yemi Cardoso has expressed satisfaction at the progress being…