Category: Economy

SEC DG: Collective Investment Schemes Increased To N3tri In 2024
January 22, 2025 No Responses

SEC DG: Collective Investment Schemes Increased To N3tri In 2024

The Securities and Exchange Commission (SEC) on Wednesday disclosed that its Collective Investment Schemes increased to over N3 trillion in 2024.The Director General of the SEC, Dr. Emomotimi Agama who disclosed this during an interaction with reporters in Abuja, explained...
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GOC Commends Troops For Contributions To Increased Oil Production
January 22, 2025 No Responses

GOC Commends Troops For Contributions To Increased Oil Production

The General Officer Commanding (GOC) of 6 Division, Nigerian Army (NA), Major General Jamal Abdussalam, has praised the efforts of his troops for significantly boosting oil production in the Niger Delta Region (NDR) over the past year.VIn his farewell address....
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Stanbic IBTC Launches N148.7b Rights Issue On NGX Invest
January 22, 2025 No Responses

Stanbic IBTC Launches N148.7b Rights Issue On NGX Invest

The Nigerian Exchange’s (NGX) e-offering platform, NGX Invest, continues to attract capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue.   Presented at the Facts Behind the Rights Issue event, t...
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NCC Okays 50% Tariff Hike For Telcos
January 21, 2025 No Responses

NCC Okays 50% Tariff Hike For Telcos

The Nigerian Communications Commission (NCC) on Monday approved a 50% tariff increase for telecoms operators in the country. NCC Director, Public Affairs, Reuben Muoka in a statement explained that the price adjustment though lower than the “over 100% reques...
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Alleged ₦76b Fraud: Court Grants Bail To Former AMCON MD, Others
January 20, 2025 No Responses

Alleged ₦76b Fraud: Court Grants Bail To Former AMCON MD, Others

An Ikeja Special Offences Court on Monday granted bail of ₦20 million to Ahmed Kuru, former Managing Director of the Assets Management Corporation of Nigeria (AMCON), and four other defendants on trial for the alleged ₦76 billion and $31.5 million...
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FG, States, LGAs Share ₦1.424tri
January 18, 2025 No Responses

FG, States, LGAs Share ₦1.424tri

A total sum of N 1.424 trillion, being December 2024 Federation Account Revenue, has been shared to the Federal Government, States and Local Government Councils. The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting ...
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Tinubu Lauds Govs For Supporting Tax Reform Initiatives
January 17, 2025 No Responses

Tinubu Lauds Govs For Supporting Tax Reform Initiatives

President Bola Tinubu has expressed his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.President Tinubu lauds the governors for their...
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Kyari: NNPCL Remitted ₦10tri In 2024
January 16, 2025 No Responses

Kyari: NNPCL Remitted ₦10tri In 2024

For the year 2024, the Nigerian National Petroleum Company Limited (NNPCL) remitted ₦10 trillion to the federation account.  The Group Chief Executive Officer (GCEO), NNPCL, Malam Mele Kyari stated this on Wednesday during a presentation on NNPCL’s 20...
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Disconnect Zenith Bank, Fidelity, FCMB, Others, NCC Directs Telcos
January 15, 2025 No Responses

Disconnect Zenith Bank, Fidelity, FCMB, Others, NCC Directs Telcos

The Nigerian Communications Commission (NCC) has directed telecommunications companies (telcos) to disconnect the unstructured supplementary service data (USSD) codes assigned to nine banks due to unpaid debts.In a statement issued by Reuben Muoka, NCC Directo...
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CBN Sanctions Zenith Bank, Fidelity, Others For ATM Cash Scarcity
January 15, 2025 No Responses

CBN Sanctions Zenith Bank, Fidelity, Others For ATM Cash Scarcity

The Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. The affected banks include Zenith Bank, Fidelity Bank Plc, First Bank Pl...
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NDLEA Budgets ₦67.5b For 2025
January 15, 2025 No Responses

NDLEA Budgets ₦67.5b For 2025

For the year 2025, the National Drug Law Enforcement Agency (NDLEA) has budgeted N67.5billion.  Speaking on Tuesday, Chairman of the agency, Brigadier General Mohamed Marwa (Rtd) urged the National Assembly to support the agency in its fight against subst...
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FG Reiterates Commitment To Strong, Vibrant Capital Market
January 13, 2025 No Responses

FG Reiterates Commitment To Strong, Vibrant Capital Market

The Federal Government has reiterated its commitment to strengthening the capital market to promote wealth creation for Nigerians and support national development.The Minister of State for Finance, Dr. Doris Uzoka-Anite stated this during a meeting with member...
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CBN Stops Extension Of Export Proceeds Repatriation
January 10, 2025 No Responses

CBN Stops Extension Of Export Proceeds Repatriation

The Central Bank of Nigeria (CBN) has suspended approvals for the extension of export proceeds repatriation on behalf of exporters. This directive, which was issued through a circular dated January 8, 2025, take immediate effect. The suspension applies to both...
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Chinese Bank Approves $254.76m Loan For Kano-Kaduna Railway
January 9, 2025 No Responses

Chinese Bank Approves $254.76m Loan For Kano-Kaduna Railway

The China Development Bank (CDB) has granted a loan of 245 million euros ($254.76 million) for the construction of the Kano-Kaduna railway project in Nigeria. A statement by the bank on Tuesday said the move was to provide financial support...
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