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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…
With God’s help, we’ll reduce inflation from 34.6% to 15% in 2025 – Tinubu
President Bola Tinubu has again said that his administration is focused on reducing inflation from 34.6 percent to 15 per cent by 2025.
Addressing Nigerians in a New Year Day broadcast, the president said the…
Investors made N22tr from Nigerian stock market in 2024 despite firms’ exit
Amid rising insecurity and other macroeconomic challenges, the Nigerian equities market witnessed remarkable growth in 2024, returning N22 trillion gain to investors.
The Nigerian stock market, which started the…
Naira appreciates to N1,650/$ in parallel market
Yesterday, the Naira appreciated N1,650 per dollar in the parallel market, compared to N1,655 on Monday.
Similarly, the Naira appreciated to N1,535 per dollar in the official foreign exchange market.
Data…
NLC insists on withdrawal of Tax Reform Bills
The Nigeria Labour Congress, NLC, yesterday insisted on the withdrawal of the Tax Reform Bills forwarded by President Bola Tinubu to the National Assembly for passage to enable all key national stakeholders to be…
Illicit money will be taxed under new tax bill – Taiwo Oyedele
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that illicit funds in Nigeria such as laundered money or proceeds of crimes will also be taxed under the controversial tax…
X to launch payment system in 2025
Linda Yaccarino, the chief executive officer (CEO) of X, formerly Twitter, has announced that the social media platform will launch a payment system called X Money in 2025.
In a statement on X on Tuesday, Yaccarino…
FG borrowings pushes money supply to N108.96tn – CBN
The Central Bank of Nigeria (CBN) said that Nigeria’s Broad Money Supply (M2) increased by 51% year-over-year (YoY) to N108.96 trillion in November 2024 as a result of the Federal Government’s increased borrowings.
The…