The Federal Government has said Nigeria cannot service its debts with the current revenue generation capacity.
The government insisted that debt to Gross Domestic Products ratio is still within the threshold but admitted that the debt to revenue ratio is high.
Minister of Finance, Budget and National Planning, Zainab Ahmed, made...
Shareholders of one of Africa’s largest manufacturing companies, BUA Cement Plc, have approved dividends of N88.047billion for its financial year ended December 31, 2021 at N2:60k per ordinary share of 50k each.
This approval was given during the company’s 6th Annual General Meeting held in Abuja, and comes on the...
The Federal Government has ordered Turkish Airlines to suspend its operations in Nigeria due to repeated cases of poor passenger treatment by the airline.
It gave the directive through the Nigeria Civil Aviation Authority (NCAA), directing the airline to suspend its operations until it was ready to operate with the...
The Nigeria Deposit Insurance Corporation (NDIC) has warned financial technology (Fintech) operators against disclosing their customers’ financial details without appropriate permission.
Dr Kabir Katata, Deputy Director, Research Department of NDIC, gave the advice in Yola on Wednesday at the 2019 NDIC Workshop for Business Editors and Finance Correspondents Association of...
Lagos, Nigeria - In a strategic move to fortify its financial position amidst evolving market dynamics, Ecobank Transnational Incorporated (ETI) has inked a significant deal with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC). Ayo Adepoju, ETI's group chief financial officer, disclosed this groundbreaking development in a...
The Central Bank of Nigeria (CBN) in a significant move has revoked the licenses of 4,173 Bureaux De Change (BDC) Operators due to their failure to adhere to regulatory provisions. This action comes as the apex bank intensifies efforts to enforce compliance with guidelines aimed at combating financial crimes...
The World Bank on Friday approved debt relief for the poor and vulnerable member-countries of its International Development Agency (IDA) as the coronavirus pandemic continues to take a devastating toll on the global economy.
The World Bank Group President, David Malpass, announced the debt relief during the Spring 2020 Plenary...
The Nigerian government has been advised by the International Monetary Fund to eliminate what it has described as hidden subsidies on fuel and electricity.
In a recent report from the IMF, Nigeria was informed that subsidies are expected to consume three percent of the country's Gross Domestic Product in 2024,...
The Federal Inland Revenue Service (FIRS) has escalated its legal battle against Binance, a prominent cryptocurrency exchange platform, by filing criminal charges related to tax evasion. This move, announced in a statement on Monday, underscores the government's commitment to fiscal responsibility and economic integrity amid growing scrutiny of digital...
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors.
This was disclosed in a statement signed by the Director, Claims Resolution Department of the Corporation,...
