CBN Suspends Sales of FOREX  to Bureau De Change Operators
CBN Governor, Godwin Emefiele   The sales of forex to the Bureau De Change(BDC) operators in the country has been suspended with immediate effect, by the Central Bank of Nigeria(CBN). The CBN Governor, Godwin Emefiele, disclosed this after the Monetary Policy Committee two-day meeting in Abuja on Tuesday. On... Read more
FG Rules out Hike In Power Tariff, Despite Approval of PIP, CAPEX for Discos
Despite the approval of a new Extraordinary Tariff Review applications, Performance Improvement Plan (PIP) and Capital Expenditure (CAPEX) for electricity Distribution Companies (DisCos)in Nigeria , the Federal Government has ruled out a siginificant tariff hike in electricity. The effective date of the PIP and CAPEX is 1st July 2021,... Read more
World Book Day: NCC Canvasses Attitudinal Change to End Copyright Abuses
Mr Asein, DG NCC   The Nigerian Copyright Commission (NCC) has called on all players in the book value chain , from authors to the final retail booksellers to abide by the copyright law , while it solicited for attitudinal change among the consuming publics to win the war... Read more
Minister Says Govt Did Not Print N60b to Support March Allocation to States
    Finance & Budget Minister, Zainab Ahmed   The Federal Government has said it did not print N60billion to support March allocation to States as alleged recently by the Edo State Governor, Godwin Obaseki The Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed this on Wednesday... Read more
’Nigeria loses $18b Annually to Tax Evasion, others ‘’
Nigeria loses about $18b annually to tax evasion, money laundering and other related offenses especially outside the country, according to the Civil Society Legislative Advocacy Center( CISLAC), CISLAC Executive Director, Auwal Ibrahim Musa Rafsanjani stated this at a media workshop for investigative journalists on “Effective Reporting of the Asset... Read more
Nigeria’s External Reserves Lose $178m in March- CBN
Nigeria’s foreign reserves lost $178m in March , according to statistics from the Central Bank of Nigeria . The reserves which stood at $34.99bn as of the end of March 1, dropped to $34.82bn as of the end of March 31.It dropped by $1.1bn in February after falling from... Read more
Court Throws  Out  AMCON’s Ex-parte Order
 Ovie Edomi Ahmed Kuru, AMCON CEO   An Abuja Federal High Court has vacated an ex-parte order against Peace Global Satellite Communication network and its Managing Director, Oreye Udo Livingstone which was earlier obtained in March this year. The earlier interim ex-parte order which granted Benson Ibezim, the 3rd... Read more
CBN Predicts Economic Recession ,Reduces Monetary Policy Rate
The Monetary Policy Rate (MPR) has been reduced by the Central Bank of Nigeria (CBN) , from 12.5 per cent to 11.5 per cent as part of measures  to sustain its  economic recovery efforts and to arrest rising inflation. This is ,even as the Apex Bank has  projected that... Read more
FG Gets N272.905 bn  from  ₦682.060bn  FAAC  Revenue
The ₦682.060 billion August 2020 federation account revenue has been shared  by the  Federation Accounts Allocation Committee (FAAC)  to the Federal, States and Local Government Councils and agencies even as  N272.905 billion accrued to the Federal Government from the amount. A communiqué by the Federation Account Allocation Committee (FAAC)... Read more
FG Set to Again Revise Oil Benchmark Price to $20  over COVID-19
… as It Says Economy Will Contract by 3.4 % Due  to  the adverse implications of the COVID-19  pandemic on the economy, Nigeria’s Budget plan is to be  cut by the Federal Government  , the second time running ,to assume a lower petroleum price of $20 per barrel ,even... Read more