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BudgIT urges FG not to dismiss US transparency report

Opinion

Naira holds steady at ₦1,350/$ in official FX market

Finance

Federal, states, LGs share ₦3.007trn July FAAC

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NAICOM revokes universal insurance licence over capital shortfall

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CBN warns public against fake contracts, grants, intervention fund scams
featured News

FG releases list of licensed Deposit Money Banks

The Central Bank of Nigeria has unveiled a comprehensive roster of licensed Deposit Money Banks currently operating within the country, shedding light on the banking landscape in Nigeria. The list, which was publicly disclosed on the CBN’s official website on Tuesday, provides valuable insights into the various players in the Nigerian banking sector. Among the […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
Maritime

FG to launch Funtua Inland Dry Port Thursday

The Federal Government has formally concluded its plans for the inauguration of Funtua Inland Dry Port in Katsina State. This was disclosed in a statement by the Assistant Director, Public Relations Unit of the Nigerian Shippers Council, Rebecca Adamu on Tuesday, according to The Punch. Adamu stated that the launch has been slated for Thursday. […]

32m Nigerians to face severe hunger - Report
News

32m Nigerians to face severe hunger – Report

The International Rescue Committee and its partners have released a report indicating that approximately 16% of Nigerians will experience severe food insecurity or hunger between June and August 2024. Compared to the previous year, this figure reflects a worsening situation, not only in Nigeria but also across West and Central Africa. The report highlights that […]

News

EFCC arrest BDC operators as naira slides to 1,416/$

The Economic and Financial Crimes Commission operatives on Tuesday reportedly arrested some Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday amid the rapid depreciation of the naira. In addition, traders said some BDC operators resisted arrest in the course of the undercover operation, according to The Punch. The operatives had […]

News

CBN suspends cash deposits charges till September 30

Banks have been instructed by the Central Bank of Nigeria to stop charging for cash deposits until September 30th, 2024. This was disclosed in a circular signed by its Director of Banking Supervision, Adetona Adedeji, according to The Punch. Several bank customers raised concerns after the banks started collecting processing fees for cash deposits on […]

Meta launches AI voice translation on Facebook, Instagram
News

Meta expands paid verification service for businesses

Meta, the parent company of Facebook and Instagram, is broadening its paid verification service for businesses, introducing three new tiers to the program that offer additional benefits to companies willing to invest in a monthly subscription. This expansion comes after Meta initially introduced the service, known as Meta Verified, to businesses last autumn, following the […]

Meta plans fourth AI overhaul in six months
News

Meta tests cross-posting from Instagram to Threads

The parent company of Instagram, Meta, is trying a novel method to enhance engagement on Threads, its messaging app. This experiment involves allowing users to cross-post photos from Instagram directly to Threads, a feature aimed at fostering greater connectivity between the two platforms. Confirmation of the trial came from Meta after a few Threads users […]

Apple launches new Magic Keyboard
News

Apple launches new Magic Keyboard

Apple during its iPad-focused event unveiled an updated version of its Magic Keyboard, the keyboard accessory for iPad, promising a sleeker and more versatile design. Described as “completely redesigned,” the new Magic Keyboard boasts a thinner and lighter profile compared to its predecessor. It now incorporates a function row for convenient access to controls such […]

News

States, LGs to share 90% VAT revenue – Presidential panel

The Presidential Committee on Fiscal Policy and Tax Reforms has suggested that the share of VAT revenue for states and local governments should be reviewed to 90 per cent, and that of the Federal Government cut down to 10 per cent. In addition, the Committee also recommended that the current rate of 7.5 per cent […]

News

Shell remitted over $1bn in tax to FG in 2023

Shell Nigeria says it exclusively paid a total of $1.09bn in corporate taxes and royalties to the Nigerian government in 2023, through the operations of the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited. This was revealed in a recent publication of Shell’s briefing notes for […]

Microsoft plans for collaboration with AI agents
News

Job losses loom as Microsoft exits Nigeria

There are reported indications that the West African operation of Microsoft African Development Centre, situated in Lagos, Nigeria, maybe on the brink of closure. Industry insiders disclosed this development to The Guardian on Tuesday, although Microsoft has not issued an official statement regarding the matter. According to sources familiar with the situation, Microsoft’s management reportedly […]

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