The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a controversial 0.5% cybersecurity levy on electronic transactions. The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the levy by the […]
Read MoreExecutive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, on Wednesday disclosed that the service generated a total of N3.94 trillion in tax revenue in the first quarter of the year (Q1 2024). The performance however, fell short of its quarterly revenue target of N4.8 trillion. Adedeji gave the figures while receiving the leadership […]
Read MoreChief Executive Officer of the Ministry of Finance Incorporated (MOFI), Armstrong Takang, also said ₦101bn have been declared as dividends by some Accountant-General of the Federation, Oluwatoyin Madein, has said ₦318.5bn was recorded as the revenue inflow to the Federal Government between January and March 2024. Madein spoke on Wednesday when she appeared before an […]
Read MoreThe Federal Government has suspended the controversial cybersecurity levy on electronic banking transactions. Nigeria’s Minister of Information and National Orientation Mohammed Idris disclosed this while briefing State House Correspondents after the Federal Executive Council (FEC) meeting at the State House in Abuja on Tuesday. He said the policy is undergoing a review. “The position of […]
Read MoreAirtel Africa Plc, just like the MTN Group was badly hit by the currency devaluation of the Nigerian Government thereby resulting to losses of up to $4,979 million, which was a decline of 5.3%, and leaving the telecom operator with $550 million for debt payment in May 2024. The Group in its year ended 31 […]
Read MoreThe Director General of the National Information Technology Development Agency, (NITDA) Kashifu Inuwa has reiterated the need for collaboration that would bring about the best solutions from ideas, experiences, insights, and shared knowledge needed for the country’s development. Inuwa while playing host to the participants of the 2024 Senior Executive Course 46 who were on a strategic tour to understudy […]
Read MoreThe Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate is a jump […]
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The Aliko Dangote Foundation ADF, has launched a food intervention programme worth about N15 billion that has resulted into the distribution of over one million bags of 10kg bags across the 774 local government areas of the 36 states and FCT in Nigeria. Speaking at the official flag-off of the intervention programme, President of Dangote […]
Read MoreThe National Economic Council (NEC) has endorsed the implementation of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme in the 36 states of the federation and the Federal Capital Territory (FCT.) This was part of the resolutions reached at the 140th meeting of the Council held virtually on Thursday and chaired by […]
Read MoreThe Federation Account Allocation Committee (FAAC) has shared a total sum of N1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the March 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister for the […]
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