In pursuit of securing a new $750m loan from the World Bank, the federal government may reintroduce previously suspended telecom tax and other fiscal measures. This is according to the Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank, reports The PUNCH. A copy of ...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated yesterday, Monday May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile [&hel...
Graduates of Itsekiri, Ijaw and Ilaje ethnic nationalities in Delta and Ondo states, have threatened to shut down operations of Chevron Nigeria Limited (CNL), in 21 days over alleged “gross marginalisation and oppression” of its host communities. Under the auspices of National Association of Itsekiri Graduates (NAIG), (KOMBOT) – Egbema and Gba...
Zenith Bank Plc has announced its unaudited results for the first quarter ended March 31, 2024, with an impressive triple-digit growth of 189% in Gross Earnings, from ₦270 billion reported in Q1 2023 to ₦781 billion in Q1 2024. This is despite the challenging operating environment and tightening monetary policy stance. The Frontier reports tha...
•PHOTO CAPTION (L-R): Chairman of Zenpay Limited, Dr. Ebenezer Onyeagwu and the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, His Excellency Wamkele Mene, during the signing of an agreement for the development and deployment of the SMARTAfCFTA Portal to facilitate trade within the African continent, at Zeni...
•Petrol scarcity It is no news for fuel scarcity to occur in Nigeria. Rather what is news is what triggered the scarcity. In some cases, it would be that the product was just out of stock due to certain reasons while at other times, it could be that those whose duty it is to take […]
•Dollar and Naira The naira depreciated yesterday to N1,395 per dollar in the parallel market from N1,365 per dollar on Thursday. However, the naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,400.4 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,400.4 per dollar from N1,402.67 per...
•NoOnes CEO, Ray Youssef The Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is probably like $500bn business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency i...
Scarcity of petrol continues to inflict pains on Nigerians across the country. Our reporters were at various petrol filling stations across the country to ask Nigerians how the crisis is affecting them. Virtually all of them cried out that the pains inflicted on Nigerians by the scarcity of petrol were becoming unbearable, reports Saturday Tri...
•Aviation Minister Fetus Keyamo Nigerian helicopter operators have threatened to shut down their operations in response to new charges imposed by the federal government through the Ministry of Aviation and Aerospace Development. There are also fears that the threat, if carried out, may lead to loss of 1.1 million barrels of oil daily by Nig...