Debt servicing impedes Nigeria’s socioeconomic development – IMF
The International Monetary Fund has reported that Nigeria allocates a significant portion of its revenue to debt servicing, which limits available funds…
News
NUPRC screens qualified oil block bidders for 2024 licensing
The Nigerian Upstream Petroleum Regulatory Commission has begun the technical screening of financially qualified bidders for the 2024 licensing bid rounds. At…
System migration won’t affect banking services – FirstBank
FirstBank has confirmed that its upcoming transition to a new cloud-based procurement and financial platform, set for Saturday, October 26, will not…
Binance executive Tigran Gambaryan leaves Nigeria after eight months detention
The Binance executive, Tigran Gambaryan, has reportedly departed Nigeria after several months of lawful detention. This was disclosed in a statement on…
US expresses gratitude to Nigeria for Binance executive’s release
The United States government has thanked Nigeria for the release of Tigran Gambaryan, a Binance executive, following a court order from the…
Reps calls for gradual withdrawal of old naira notes
The House of Representatives has urged the Central Bank of Nigeria to begin a gradual withdrawal of old naira notes while introducing…
First Bank announces service disruption over migration to new platform
First Bank, one of Nigeria’s tier-1 lenders, has announced its transition to a new cloud-based procurement and financial platform aimed at improving…
C-of-O: FG threatens land revocation for non-payment of debts
The federal government has issued a 60-day notice to all federal Certificates-of-Occupancy title owners in Nigeria, demanding the payment of outstanding debts…
Nigeria’s public debt soars to N134.3tn in Q2 2024
Nigeria’s public debt stock has surged to N134.3 trillion ($91.3 billion) as of the end of the second quarter of 2024, marking…
Boeing workers reject new 35% labour contract, continue strike
Boeing machinists have voted against a proposed labour deal that included a 35% wage increase over four years, their union announced Wednesday.…
Nigeria officially joins BRICS
Nigeria has officially joined BRICS as a partner country, along with 12 other nations, further solidifying its economic ties with the intergovernmental…
IMF urges enhanced tax efficiency in Nigeria, others
The IMF on Wednesday urged Nigeria and other African nations to enhance their tax systems to be more efficient, equitable, and progressive.…