FG eyes 5% tax on telecommunications, other services
The Federal Government of Nigeria has proposed a five per cent excise duty on telecommunications services, gaming, and betting activities as part…
CBN
Banks refund N7.05bn, $714,569 to customers, says CBN
The Central Bank of Nigeria has announced that banks operating in the country have refunded approximately N7.05 billion and $714,569.03 to customers…
Lagos, Abuja airports incur over N1bn monthly electricity bills
The Minister of Aviation, Festus Keyamo has stated that the Lagos and Abuja airports each incur over N1 billion in monthly energy…
CBN initiates global partnerships for improved banking system
The Central Bank of Nigeria has signed Memoranda of Understanding with countries that host subsidiaries of Nigerian banks. This initiative aims to…
Nigeria’s debt servicing hits N6.04tn in H1 2024 – CBN
Nigeria’s debt servicing expenses surged to N6.04 trillion in the first half of 2024, a 68.8% increase from N3.58 trillion in the…
CBN defends interest rate hike as measure to combat inflation
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has strongly defended the bank’s decision to raise the Monetary Policy…
CBN sells $543.5m in FX to authorized banks over 11 days
The Central Bank of Nigeria sold a total of $543.5 million at rates of N1,540 and N1,580 to authorized dealer banks between…
CBN extends suspension of cash deposit processing fees to 2025
The Central Bank of Nigeria has announced an extension of the suspension on cash deposit processing fees, now lasting until March 31,…
CBN okays forex sales to BDCs at N1,590/$
The Central Bank of Nigeria has announced it will sell $20,000 in foreign exchange to eligible Bureau De Change operators nationwide. This…
New IMTO licences push Nigeria’s remittance inflows to $585m – CBN
The Central Bank of Nigeria announced that its recent move to license additional International Money Transfer Operators has significantly boosted remittance inflows…
Nigeria’s external reserves surge to $39.07bn – Cardoso
Nigeria’s external reserves have continued to grow, reaching $39.07 billion as of September 19, 2024. This increase reflects positive trends in foreign…