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Foreign loans account for 59% capital importation – NBS

The National Bureau of Statistics’ most recent capital importation data for foreign loans accounted for no less than 59.1% of the $2.31 billion in capital imported into the country in 2023. According to The PUNCH, the study states that “foreign capital inflow increased to $1.09 billion in the last quarter of 2023 from $654.65 million […]

Wema Bank, NYSC collaborate on youth empowerment
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Wema Bank, NYSC collaborate on youth empowerment

The National Youth Service Corps and Wema Bank have teamed up to introduce the NYSC-ALAT Accelerator Program. According to The PUNCH, the relationship was unveiled at the signing ceremony for the Memorandum of Understanding in Abuja as the bank revealed in a statement. It stated that the partnership’s goal was to make it possible for […]

Tony Elumelu to give speech at ECOWAS forum
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Tony Elumelu to give speech at ECOWAS forum

It has been scheduled that the Chairman of United Bank for Africa, Tony Elumelu, will give the keynote lecture at the fourth ECOWAS Mining and Petroleum Forum in Cotonou, Benin Republic. According to The Punch, ECOWAS is offering a forum for participants in the ECOWAS mining and petroleum sectors, and is scheduled to take place […]

FIRS announces new TAXPR-MAX platform for CbCR
Business

FIRS announces new TAXPR-MAX platform for CbCR

The Federal Inland Revenue Service has declared that it will be switching over to the TAXPRO-MAX platform from the e-TPPLAT platform, which is used for filing transfer pricing returns and notifying countries about their reporting obligations. According to The Times, this was made known in a public statement that the executive chairman of the organization, Zaach […]

FG to launch second cohort of 3MTT program
Tech

FG to launch second cohort of 3MTT program

The Federal Government has scheduled February 29th, 2024 for the announcement of the 2nd cohort of the 3 Million Technical Talent program. The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, shared this update on Monday, highlighting that the selected fellows will commence their training in March. Expressing the government’s commitment to the […]

FG, cement producers agree N7000, N8000 cement price
Business

FG, cement producers agree N7000, N8000 cement price

The pricing range for a 50 kg bag of cement has been set by the Federal Government and cement producers including BUA, Dangote, and Larfarge at N7,000 to N8,000 in different parts of the nation. According to the Times, senator David Umahi announced this pricing change on Monday in Abuja after a lengthy meeting with […]

Lagos vows to uphold monthly rent agreement
News

Lagos lifts RTEAN ban, dissolves garage committee, others

The Lagos State Parks and Garages Administrators’ Committee, which was established to map the state’s parks and garages, has been disbanded by the Lagos State Government. According to The Times, Special Adviser to the Governor on Transportation, Sola Giwa, released a statement that included this disclosure on Monday, February 19, 2024. Giwa said “the state administration […]

EU probes TikTok over breach of privacy
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EU probes TikTok over breach of privacy

By Alex Omenye   The European Commission has officially initiated proceedings to assess whether TikTok violated the Digital Services Act in multiple areas, including the protection of minors. “The compliance with the DSA obligations related to the assessment and mitigation of systemic risks, in terms of actual or foreseeable negative effects stemming from the design […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
News

Nigeria’s inflation may hit 44%, IMF warns

By Melvin Onwubuke   The international Monetary Fund recent post-financing assessment report concerning Nigeria, paints a bleak picture of the country’s economic future. According to nairametrics, IMF expressed concerns that Nigeria’s inflation rate could rise to an unparalleled 44%, if the CBN fails to make significant steps in tightening it’s monetary policy. The report highlights […]

Lagos unveils plan to tax remote workers to generate N200bn
News

Lagos VIS to take action against Danfo, others

The Lagos State Vehicle Inspection Service has promised to concentrate its enforcement efforts on commercial yellow-branded buses in the state that are often referred to as “Danfo” and “Korope” buses and that are in violation of the Road Traffic Law 2021. According to The Times, On Monday, February 19, 2024, during an appearance on Channels Television’s […]

Nigeria's unemployment rate rises by 0.8% in Q3 2023
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Nigeria’s unemployment rate rises by 0.8% in Q3 2023

“In Q3 2023, the unemployment rate rose to 5.0%, a considerable increase. It was stated in a report on Monday that this represents an increase of 0.8% from Q2 2023. The NBS reported in its “Nigeria Labour Force Survey Q3 2023” report, which was released on Monday, that “the nation’s unemployment rate increased significantly from […]

Nigerian bankers move to curb japa
Banking

Nigerian bankers move to curb japa

To address the prevalent issue of migration, colloquially known as “japa,” in Nigeria, the regulatory body for banking in the country, the Chartered Institute of Bankers of Nigeria, has put forward the concept of a Human Capital Retention Fund. However, the implementation of this idea would require approval from lawmakers. The Nigerian newspaper, Punch, reported […]

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