THE Central Bank of Nigeria (CBN) has introduced new regulations requiring banks, fintech companies, and other payment service providers to disclose their ultimate beneficial owners, localise payment transaction data, and …
Category:
Economy
NIGERIA solid minerals sector has recorded a major revenue boost, generating over ₦70 billion in 2025 following extensive reforms and policy initiatives aimed at repositioning the industry and attracting global …
- Economy
FG bans cash payments in MDAs, orders mandatory PoS deployment
by Tobi Bensonby Tobi Benson 3 minutes readTHE Federal Government has officially prohibited the use of physical cash for all revenue payments across its Ministries, Departments and Agencies, directing MDAs to deploy Point of Sale terminals and …
- Economy
CBN updates documentation guidelines for PAPSS transactions
by Tobi Bensonby Tobi Benson 1 minutes readIN a move aimed at promoting smoother intra-African trade and enhancing financial inclusion, the CBN has announced major changes to the documentation needed for the Pan-African Payment and Settlement System …
- Economy
CBN policies averted 42.81% inflation in 2024 – Cardoso
by Tobi Bensonby Tobi Benson 3 minutes readTHE governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has stated that inflation could have surged to 42.81% by December 2024 if not for the bank’s policy interventions. Speaking …
- Economy
PETROAN calls on FG to privatise refineries, seeks ₦100b grant from Tinubu
by Tobi Bensonby Tobi Benson 2 minutes readTHE Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to privatise state-owned refineries and has requested a ₦100 billion grant from President Bola Tinubu …
- EconomyBusiness & Economy
FG’s international debt servicing gulps $3.5b in nine months — CBN
by Tobi Bensonby Tobi Benson 5 minutes readTHE Federal Government in the first nine months of 2024, allocated $3.58 billion to servicing the country’s foreign debt. According to a report on international payment statistics from the Central …
- Economy
FG plans single-digit taxes to reduce citizens burden – Oyedele
by Edidiong Nseabasi 3 minutes readTHE Federal Government is considering implementing a single-digit tax regime to alleviate the burden of multiple taxes on Nigerians. The Chairman of the Presidential Committee on Fiscal and Tax Reforms, …
- Economy
How money printing, oil prices crash harmed economy – Cardoso
by Tobi Bensonby Tobi Benson 3 minutes readTHE Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has once again held the monetary policies of his predecessor, Godwin Emefiele, responsible for the country’s current economic challenges. …
- EconomyBusiness & Economy
Debt to petrol suppliers responsible for queues – NNPCL
by Tobi Bensonby Tobi Benson 2 minutes readTHE Nigerian National Petroleum Company Limited (NNPCL) has acknowledged its “significant debt to petrol suppliers,” stating that this financial burden threatens the sustainability of fuel supply in the country. Reports …
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