FINANCING

The Central Bank of Nigeria has said the use of cash payment will naturally reduce 2025 as the new naira notes circulate in the economy. The apex bank made this known in its Payments Vision 2025 document. It said by 2025, the country aspired to have a cashless and efficient electronic payment system infrastructure that would facilitate financial services in ...

……..as Corporate Tax is Raised to 35 Percent Highest Globally…….. Director,Centre for The Promotion of Private Enterprise, CPPE,Dr. Muda Yussuf, has urged President Muhammadu Buhari to withhold assent on the 2022 Finance Bill until the National Assembly properly engages stakeholders in line with legislative protocols. His appeal was sequel to the hurried passage of the 2022 Finance Bill by the ...

President Muhammadu Buhari says the Ajaokuta Steel Complex will generate 1.6billion dollars annually and provide 500,000 estimated jobs for Nigerian youths. Malam Garba Shehu, the Presidential spokesperson in a statement, said that Buhari said this at the Palace of the Ohinoyi of Ebiraland, which he also inaugurated as part of his one-day state visit in Okene, Kogi on Thursday.Shehu said ...

The Senate on Wednesday, passed the N21.8 trillion 2023 budget. This followed the adoption of the report of the Senate Committee on Appropriation at plenary.Presenting the report, the Chairman of the Committee, Sen. Jibrin Barau said that the commitee did a thorough job by examining inputs from its sub-committees before reaching the final figure.“We hereby recommend that the Senate do ...

For Nigerian companies to maximize the opportunities that the African Continental Free Trade Area (AfCFTA) offers, both Federal Government and the organized private sector have important roles to play in terms of breaking barriers, but tariff are some of the major bottlenecks Chief Operating Officer of MicCom Cables and Wires, Bukola Adubi, has said. Adubi stated this while speaking on ...

Apparently bowing to pressure following backlash that greeted the recent cash withdrawal policy announced by the Central Bank of Nigeria (CBN), the apex bank on Thursday reversed the decision. The CBN in a letter to banks in Nigeria increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500, 000 and N5m, respectively. ...

The Central Bank of Nigeria has started the circulation of the newly redesigned naira notes through the Deposit Money Banks who are now releasing the bills to their customers via over-the-counter payments. This came about three weeks after the President, Major General Muhammadu Buhari (retd), unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa. ...

….Files Stay Of Execution Of Appeal Court’s Judgment The Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited and 11PLC have approached the Supreme Court seeking to quash the recent judgement of the Appeal Court nullifying the sale of Lagos Continental Hotel to 11PLC. 11PLC, in a statement to SlyeNews stated that the parties appealed to the Supreme Court vide ...

Nigeria’s public debt rose to N44.06trillion in the third quarter of 2022 as it continues with repayment burden. According to a press statement published on the website of the Debt Management Office on Friday, the total public debt stock rose from N42.84trillion recorded in the second quarter to N44.06trillion in Q3, 2022. This showed that there was a 2.85 per ...

This was contained in the Executive Summary of first half of the year (H1), 2022 Economic Review, made available to the press on Friday , which was signed by the Director General of Man, Mr. Segun Ajayi-Kadiri. According to the H1 executive summary, there is an uptick of N17.33 billion or 10.2 per cent when compared with N169.75 billion recorded ...