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Mass layoff: Disengaged staff members sue CBN, demand N30bn compensation
Former staff members of the Central Bank of Nigeria (CBN) who were dismissed in a mass layoff last year, have sued the apex bank. In a court document seen by TheCable on Monday, the workers alleged that the CBN violated…
FG Can Retain VAT As It Is – Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said it is possible for the current Value Added Tax structure to be kept as it is given the controversies it had…
No Plan To Devalue Naira Again In 2025 – CBN
The Central Bank of Nigeria (CBN) will apply part of the $2.2 billion Eurobond proceeds to exit its numerous swaps as it allayed the market’s fear of further Naira devaluation in 2025. “No, we are not devaluing”, a…
Yuletide: Fintech payment platforms hold sway as bank customers lament poor services
The festive season has highlighted a significant shift in Nigeria’s financial landscape, with fintech platforms rising as…
How ‘Detty December’ defied Nigeria’s economic crisis
Entertainment Editor, ROTIMI IGE, in this report, analyses the cost of ‘Detty December’, now an annual festival in…
Loan app sparks outrage by posting 87 debtors’ photos online
A loan app, Delinquent Loans, has sparked controversy after sharing photos of 87 debtors online in a bold attempt to recover unpaid loans. The incident came to light through a series of TikTok videos posted by the…
Huge Unsold Stock: ‘Poultry farmers are lamenting massive losses as people shunned chicken during…
In this interview, the Director General, DG, Poultry Association of Nigeria, PAN, Dr Onallo Akpa, narrates the losses incurred by poultry farmers during Christmas and New Year celebrations as many Nigerians snubbed…
Corporate tax, VAT boosted federation account to N6.86tn – CBN
Receipts into the federation account grew by 7.48 per cent to N6.86 trillion in the third quarter of 2024, the latest Economic Report by the Central Bank of Nigeria has revealed. According to the report, the…
Valuation of GTCO, Nine Other Banks Rises to N7.87tn in 2024 Amid Banking Recapitalisation Drive
The market value of Guaranty Trust Holding Company Plc (GTCO) and nine other banks rose to N7.87 trillion in 2024 as…
Northern Elders calls for suspension of tax reform bills
The Northern Elders’ Forum (NEF), on Saturday, raised concerns over the Federal Government’s proposed Tax Reform Bills, urging immediate suspension of their implementation. The forum criticised the government for…
2024: Nigerian box office records 60% growth, rakes in N11.5bn
The Cinema Exhibitors Association of Nigeria (CEAN), says the Nigerian film industry has experienced a significant surge with the Box Office recording an impressive 60 per cent increase in 2024. Mr Ope Ajayi, CEAN’s…
Alake of Egbaland resigns as Oando chairman, Ademola Akinrele takes over
Oando Plc has appointed Ademola Akinrele as its board chairman after Adedotun Gbadebo, the Alake of Egbaland, resigned from the position. In a statement on Friday, Ayotola Jagun, the company’s secretary, said…
Fuel price may crash to N500 per litre-Marketers
Strong indications emerged at the weekend that prices of Premium Motor Spirit (PMS), popularly called petrol, may crash further in 2025. Industry experts, who spoke to Saturday Sun, noted that petrol, which…
Court freezes 21 bank accounts over money laundering, orders owners’ arrest
A judge in Abuja has ordered banks to freeze 21 bank accounts because of suspected money laundering. The judge also ordered the police to arrest the people who own these accounts. This happened on Friday after the…
Phone financing schemes gain traction on economic crunch
When Tolu Abolaji’s phone got damaged and needed replacement, a friend wanted her to take a loan from her bank. After buying the phone, she…
Nigeria’s three-month inflows into economy hit $22.8bn
Nigeria’s economy experienced a 3.01 percent increase in foreign exchange inflows, rising to $22.89 billion in Q3 2024 from…
Telecoms operators propose 100% tariff hike amid backlashes
TELECOMMUNICATIONS operators said they made a proposal of 100 per cent tariff hike to the regulator, the Nigerian Communications Commission (NCC) in their plea for hike in tariffs on services offered including voice,…
Ardova, Heyden Join Dangote Refinery to Ensure Affordable PMS for Nigerians
Propelled by the economic relief provided by President Bola Ahmed Tinubu's crude-for-naira swap initiative, two prominent players in Nigeria's…
27% Inflation Target Realistic, Tinubu’s 15% Aspirational — Rewane
The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has described President Bola Tinubu’s 15% inflation target for 2025 as “aspirational” and “bullish”. The economist stated this…
What to expect in 2025 as banks brace up for CBN’s recapitalisation
BY the end of the year, all commercial, merchant, and non-interest banks would have just…
Investors flock to govt debt as rates crowd out firms
Nigerian companies faced funding squeeze in 2024 as investors flocked to high-yielding government debt instruments. According to data from FMDQ, the total number of company issuances in 2024 decreased to…
Farmers smile to the bank as onion price jumps 108%
…Demand from Ghana, Ivory Coast rising …Festivities drive local purchases …Low-yield seedlings stunt output growth It is a happy time for onion farmers who have seen the price of their product jump by…
New Withholding Tax regime takes off
The Federal Government has kicked-off the implementation of the 2024 Withholding Tax Regulations. The new regulations, approved in July last year and put into the gazette in October, took effect yesterday.…
2025: Subscribers reject fresh telecoms tariff hike in Nigeria
Telecommunications subscribers have vehemently rejected a proposed 40 per cent telecom service tariff hike in Nigeria expected to kick off in 2025. The National Exco of the National Association of Telecoms…