Aggregate foreign exchange inflow into the economy amounted to $9.84bn in November 2019, showing an increase of 7.5 per cent above the level at the end of the preceding month. The Central Bank of Nigeria disclosed in its 2019 November economic report on foreign exchange flows that it however, showed […]

Commercial banks are preparing ahead of a possible announcement of a new recapitalisation plan by the Central Bank of Nigeria (CBN) this year, Thisday reports. THISDAY gathered that most banks have gone far beyond the N25 billion minimum capital requirement and are strategising to raise Tier 2 capital. As part […]

A recent consumer survey by the Central Bank of Nigeria showed that members of the public expected a fall in the cost of borrowing this year. The statistics department of the CBN stated this in its ‘Consumer Expectations Survey’ report for the fourth quarter of 2019. Highlights of the Q4 […]

The Corporate Affairs Commission has said the Companies and Allied Matters Act Amendment Bill, which is awaiting the assent of the President, Major General Muhammadu Buhari (retd.) will strengthen its supervisory and regulatory powers. The acting Registrar-General, CAC, Hajiya Saratu Shafii, said this on Wednesday in Abuja during an interaction […]

A head of the implementation of the African Continental Free Trade Area (AfCFTA) Agreement in July, the ports are undergoing infrastructure reforms. This is to allow free movement of business travellers and investments, while creating a continental Customs Union to streamline trade and attract long-term investments. The Managing Director, Nigerian […]

THE Federal Government, yesterday, said that henceforth, the payment of Practitioners Operation Fee, POF, will now be required to take delivery of cargoes from the ports. Disclosing this stakeholder’s meeting in Lagos, Registrar of the Council for the Regulation of Freight Forwarding in Nigeria, CRFFN, Mr. Sam Nwakohu said that […]

The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax. Currently, all companies are expected to pay the Federal Government 30 per cent of their profit as Companies Income Tax. However, the Minister of Finance, […]

The Central Bank of Nigeria, CBN, has released the Nigerian Payment Systems Risk and Information Security Management Framework to guide the management of risks associated with payment systems in the country. The CBN released the guidelines on its website on Monday and said one of the objectives of the framework […]

The Federal Inland Revenue Service (FIRS) will from Wednesday begin a nationwide tax enforcement to bring tax defaulters to account. A statement from by Wahab Gbadamosi Head, Communications and Servicom Department said the FIRS has “served a Seven-day notice to tax defaulters, with a warning that it will soon begin […]

The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala-Usman has said the agency will not be intimidated by anyone as regards its withdrawal of support to the Secure Anchorage Area (SAA). Bala-Usman, who disclosed this in a chat with newsmen during the commemoration of the World Anti-Corruption Day […]