Business
As part of efforts to accelerate action on climate adaptation, the President of African Development Bank, Femi Adeshina, on Tuesday, said the finance institution has committed to providing $25bn to climate finance by 2050. He stated this on the second day of the African Climate Summit, being held at The Kenyatta International Convention Centre, […]
The National Identity Management Commission has only been able to meet 47.6 per cent of the Federal Government’s monthly target of 2.5 million registrations in the first eight months of the year. This is as the number of Nigerians with National Identification Numbers increased to 102.39 million in August despite a slowdown in the number […]
At least eight banks and 18 other listed companies have been fined N125m for failing to file their 2022 audited financial statements and quarterly reports for the first half of 2023 as required by Nigerian Exchange. The affected banks were Unity Bank, FBN Holdings, Access Holdings, Fidelity Bank, Jaiz Bank, Wema Bank, Guaranty Trust Holdings […]
The Manufacturers Association of Nigeria has lamented that the Federal Government is placing its N77tn debt burden on the manufacturers in the country. The association also said its members have been hit with high multiple taxes. In its first quarter Manufacturers CEO Confidence Index on Monday, the Q1 report titled, ‘Special Focus: MAN at the […]
The Central Bank of Nigeria has introduced a foreign exchange price verification system designed for importers to have access to forex. The apex bank in a statement from its Trade and Exchange Department on Thursday night, said a price verification report from the portal is now mandatory for all Form M requests while it […]
Oil marketers, on Tuesday, advised President Bola Tinubu to gradually relax the removal of subsidy on Premium Motor Spirit, popularly called petrol, following the inability of importers to access the United States dollars and the impact which this was having on businesses. This came as Tinubu ruled out fuel price hike and reversal of fuel […]
The Nigerian National Petroleum Company Limited has eventually spoken up as regards the widespread concern of a possible hike in the pump price of Premium Motor Spirit, popularly called petrol. In a post by the company, posted around 11:48pm on Monday on its official X (formerly Twitter) handle, the national oil firm and major […]
Oil marketers have revealed that petrol will rise to N680/litre and N720/litre in the coming weeks if dollar continues to trade at N910 to N950 at the parallel market. According to the marketers, they have also suspended plans to import PMS due to the scarcity of foreign exchange to import the commodity. The […]
The Central Bank of Nigeria has released the Consolidated Financial Statements for the last seven years, making it the first time since 2015 that the apex bank will be making its book available for public scrutiny. The Consolidated Financial Statements, which were released by the CBN, are for 2016, 2017, 2018, 2019, 2020, 2021 and […]
The World Bank has halted approval for new public finance projects in Uganda over the country’s adoption earlier this year of a widely criticised bill criminalising same-sex conduct. “Uganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values,” the development lender said in a statement Tuesday, adding that “no new public financing,” would be […]
