Economy
-
Forge closer collaboration to tackle economic challenges in West Africa, Buhari urges bank executives
President Muhammadu Buhari Tuesday called on executives of banking institutions in West Africa to forge a closer collaboration to tackle economic challenges confronting the sub-region. Receiving a delegation from the West African Bankers Association (WABA), led by its President, Thierno Seydou Nourou Sy, the President noted that the sub-region must find a common understanding and ground to address low access…
Read More » -
SEC intensifies efforts on identity management in capital market
The Securities and Exchange Commission (SEC), has stated that the Identity Management System being developed by the capital market would tackle the lingering identity management issues while allowing room for scalability as technology evolves. This was stated by the Director General of the SEC, Mr. Lamido Yuguda when he received members of the Committee on Identity Management for the Capital…
Read More » -
BREAKING: CBN raises interest rate to 13%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised interest rate to 13per cent, leaving all other parameters unchanged. The apex bank’s committee since February 2021 maintained interest rate at 11.5per cent. This is the first time the apex bank will be taking a hawkish policy stance since its July meeting in 2016. Other…
Read More » -
FCMB suspends naira debit, credit cards for international transactions
Following scarcity in the foreign exchange market, First City Monument Bank (FCMB), a member of FCMB Group Plc, said it suspended Naira debit and credit card for international transactions. The bank in a statement to its customers encouraged application for foreign currency card (USD or GBP Domiciliary account required) that comes with higher access to $5,000 monthly. The Bank said:,…
Read More » -
Non-oil sector grows by 6.08% in Q1 2022, Says NBS
Nigeria’s non-oil sector grew by 6.08 per cent (year-on-year) in real terms in the first quarter of 2022, an increase of 5.28 points from the preceding quarter which recorded a growth rate of 3.58per cent, compared to the rate recorded same quarter of 2021 and 1.34 per cent points higher than the fourth quarter of 2021. According to the Nigerian…
Read More » -
Nigeria’s GDP grows by 3.11% in 2022 Q1
Nigeria had a 3.11% growth in the Gross Domestic Product in the first quarter of 2022. This was disclosed in the new data released by the National Bureau of Statistics. According to the report, the growth was for the sixth consecutive quarter. “Nigeria’s Gross Domestic Product (GDP) grew by 3.11% (year-on-year) in real terms in the first quarter of 2022,…
Read More » -
Nigeria didn’t endorse OECD minimum corporate tax agreement in country’s best interest – FIRS
Nigeria’s cautious approach to the endorsement of the Organization for Economic Cooperation and Development (OECD)/ G20 Inclusive Framework two-pillar solution to the taxation of the digital economy is in the best interest of the country, and to ensure that Nigeria does not lose out on potential revenue from the digital economy. This was explained in a statement issued to the…
Read More » -
SPOTLIGHT: Alpha Beta, future of Africa’s revenue collection, generation
Right from inception, Alpha Betta has continued to set the pace in innovations across the country and even outside. The company with revenue maximasation strategy, Alpha Beta is the pioneer developer, proprietor and provider of the technology-based Electronic Banking and Internal Controlled Revenue Enhancing System that helps clients to flawlessly monitor and enhance revenue collections, promote accountability, transparency and good…
Read More » -
UPDATE: After plane crash in Cameroon, Chevron kicks out Caverton Helicopters
In what appears to be additional trouble for the already bad situation, Chevron has fired Caverton Helicopters from its offshore aviation logistics contract at a time the Nigerian company is battling hard to be reinstated to its Shell contract. Shell Petroleum Development Company suspended Caverton from its offshore aviation logistics contract late 2021 for safety concerns following mass resignation of…
Read More » -
Set automatic antivirus updates to avoid vulnerabilities, NCC advises
The Nigerian Communications Commission (NCC) has advised telecom consumers and other Information and Communications Technology (ICT) end users on the need to always enable automatic update features for AVAST and AVG antiviruses to prevent potential cyber vulnerabilities. This was contained in a new advisory released by the Computer Security Incident Response Team (CSIRT), the cybersecurity centre for the telecom sector…
Read More »
