FAAC allocation drops by N240bn to N750bn for January
The Federation Account Allocation Committee (FAAC) has shared the of sum of N750.174 billion to the three tiers of government,…
IMF questions Nigeria’s high tax expenditure, VAT collection efficiency
The International Monetary Fund (IMF) has raised concerns about Nigeria’s huge tax expenditure, estimated at four per cent of the…
CBN leaves portal open as Nigerians continue depositing old notes in banks
Nigerians in possession of the old N500 and N1,000 notes trooped out to their banks on Monday to deposit the…
Nigeria’s currency redesign is a bad case study –PwC
The current trend of economic hardship occasioned by the scarcity of the redesigned naira notes could further worsen as hopes…
Nigeria’s external reserves fall by $427m in one month – CBN
The country’s external reserves fell by $427.14m in one month, figures obtained from the Central Bank of Nigeria (CBN) revealed…
Naira Crisis Worsens As Currency Circulation Tumbles to N1.54tn
Amid the worsening naira crisis, the total amount of currency-in-circulation in the Nigerian economy has tumbled from N3.3tn to N1.54tn,…
Emefiele meets with banks’ heads, orders immediate circulation of N200 notes
Following President Buhari’s directive, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has assured that N200 old…
MAN warns of fresh job losses over economic crisis
Manufacturers’ employment rate will dip below benchmark points to 48.8 points in the first quarter of 2023, a new report…
CBN opens portal for old naira notes deposits
The Central Bank of Nigeria has opened a portal for the collection of old naira notes from people who still…
New naira scarcity may worsen consumer spending – Fitch
Fitch Ratings, a global rating agency, has said that the demonetisation drive by the Central Bank of Nigeria will likely…