Economy

News and analysis on the Nigerian economy

Grant, interstate, NURTW and Universal Insurance, NURTW insurance partnership, Commercial buses in Nigeria

Socio Economic

FG may lift ban on interstate movement on June 21

by Abiola Odutola

June 4, 2020

Interstate movement may resume on June 21.

Despite COVID-19, Lagos state raised ₦163.2 billion in revenue in Q1 2020, N14.9 billion higher than Q1 2019

Budget

Despite COVID-19, Lagos State Government says Q1 budget performance rose to N163.2 billion

by Ruth Okwumbu-Imafidon

June 4, 2020

This performance, according to the Lagos State Commissioner for Economic Planning and Budget, Mr. Sam Egube, “is higher than the...

Funds Management

Nigeria’s Fund Industry Remain Resilient Amid COVID-19 Concerns

by Uche Ndimele

June 2, 2020

COVID 19 has done some devastating damage to the economy, One industry in Nigeria that has remained resilient in spite...

Opinions

How COVID-19 and low yield affect Nigeria’s pension funds

by Uche Ndimele

June 2, 2020

Covid-19 and low yield are conniving to rub pension fund managers of a chest-beating performance, and the pension fund investors...

PTF, Nationwide curfew reduced to 10pm, Interstate travel ban continues, COVID-19: We may recommend lockdown to ensure Nigeria’s safety –PTF

Socio Economic

FG reduces curfew to 10pm, relaxes restriction on religious gatherings

by Ruth Okwumbu-Imafidon

June 1, 2020

The Presidential Task Force on COVID-19 directed that from Tuesday, June 2, the nationwide curfew will be reduced to 10pm...

COVID-19: NCDC equips testing centres in Ibadan, Abakaliki as figures continue to rise, CBN discloses conditions to assess N100b facility, identifies problems in processing facility

Socio Economic

CBN disburses N10.5 billion out of N100 billion credit to healthcare industry

by Abiola Odutola

May 31, 2020

The bank has approved and disbursed N10.15billion for some projects for the establishment of advanced diagnostic and health centres and...

CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

Socio Economic

CBN disburses N50 billion loans through MFBs’ IT platform

by Abiola Odutola

May 31, 2020

It aims to enhance financial access, inclusion and sustainability of the microfinance institutions on value chain financing and ensure the...

Inflation rate, LDR: Growing the real sector by fiat?, Rapid increase in food prices temporary – Emefiele, CBN and other industry stakeholders establish N1 billion Bankers’ Charitable Endowment Fund , How the CBN’s OMO restriction is affecting the market , Nigerian economy to grow by 2.38% in Q4 - CBN, New CBN report shows Nigerians will reduce consumption of luxury items, Banks violating CBN’s directive on N50 charge on accounts, send contradictory messages, What is on Godwin Emefiele’s mind?, These CBN policies are contradictory and stifling on banks, What you need to know as Banks rebrand CBN intervention funds to woo borrowers, CBN extends timeframe for submission of audited financial statements by other financial institutions, CBN to launch Tertiary Institutions’ Entrepreneurship Scheme, CBN tackles cybersecurity threats as it issues guidelines for OFIs, Emefiele says CBN is leading Nigeria’s economic diversification as country now exports rice

Politics

CBN extends timeframe for submission of banks’ audited financial statements

by Chike Olisah

May 30, 2020

"Therefore, the deadline for submission has been extended by three months. For the avoidance of doubt, all Other Financial Institutions...

Covid-19 Regarded As Threat To National Security With 2020 Fiscal Deficit Higher Than FRA Standards

Politics

COVID-19 now a national security threat, as 2020 fiscal deficit exceeds FRA Standards

by Lawretta Egba

May 29, 2020

Reports from the Addendum to the 2020-2022 MTEF/FSP reveal that the revised fiscal deficit is estimated at N4.58 trillion from N1.85 trillion

FIRS generates N490 billion tax revenue in July, collects 89% from non-oil sector,7.5% VAT: Implementation to begin Feb 1 – FG, FIRS redeploys 50 directors in massive shakeup ,FIRS moves to stop tax evasion with newly launched intelligence system , FIRS boss, Nami discloses why FIRS failed to meet revenue target under Fowler, FIRS to scale up tax compliance with new policies , FIRS tighten noose on deduction of stamp duty, CIT, others , Nigerians will now pay N50 stamp duty on electronic receipts – FIRS, Tax debt payments extended to August 31- FIRS

Business News

Nigerians will now pay N50 stamp duty on electronic receipts – FIRS

by Ruth Okwumbu-Imafidon

May 29, 2020

“Any electronic receipt for, or electronic transfer of, money deposited with any bank or with any banker in any type...

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Lagos state attracts $2.73 billion capital inflows in 3 months – Sanwo-Olu

Malawi cuts benchmark interest rate to 24% as inflation pressures ease

Nigeria’s shea nut export ban extension raises FX concerns

Credit to private sector declines to N75.24trn in January 2026

Economy

News and analysis on the Nigerian economy

FG may lift ban on interstate movement on June 21

Despite COVID-19, Lagos State Government says Q1 budget performance rose to N163.2 billion

Nigeria’s Fund Industry Remain Resilient Amid COVID-19 Concerns

How COVID-19 and low yield affect Nigeria’s pension funds

FG reduces curfew to 10pm, relaxes restriction on religious gatherings

CBN disburses N10.5 billion out of N100 billion credit to healthcare industry

CBN disburses N50 billion loans through MFBs’ IT platform

CBN extends timeframe for submission of banks’ audited financial statements

COVID-19 now a national security threat, as 2020 fiscal deficit exceeds FRA Standards

Nigerians will now pay N50 stamp duty on electronic receipts – FIRS

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