![](http://ae01.alicdn.com/kf/S2a1dc6635aff43b5981d02fd5441a4c7j.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S8397010e008344e0b1ccf8d00744b6e36.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S76bba152701d4794a73829b188705251K.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S80ec1d70c1844a6283ef6738e44ef71bW.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S5e2d120b6deb48a3ac8219e6bdf965d0Y.jpg_80x80.jpg")
![](http://ae01.alicdn.com/kf/S7a3a1074fe6b40b69322a821c5971435F.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S4a83d378ed4749858a32004dfb21dc22N.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/S9747c644a8504b13af36e9e828821319K.jpg_140x140.jpg")
![](http://ae01.alicdn.com/kf/Sf95452129c6444a4a350dd43d889ea96H.jpg_140x140.jpg")
In a concerning economic development, Nigeria has hit a staggering milestone with its inflation rate skyrocketing to 31.7 per cent in February 2024, marking the highest level witnessed in 28 years. This…
Category: Business and Economy
Explore the intricate landscape of “Business and Economy” through our News category. Delve into the realms of commerce, finance, entrepreneurship, and market trends. From insightful analyses of global economic shifts to guidance for small business owners, this category offers a comprehensive resource hub for individuals interested in understanding the dynamics that drive our financial world.
FG Suspends Expatriate Employment Levy
In response to widespread criticism and concerns raised by private sector groups, the Federal Government of Nigeria has decided to suspend the implementation of the recently enacted Expatriate Employment Levy. The decision…
CBN Slashes Customs FX Duty Rate by 5.3% Amid Naira Stability
In a move reflecting the stability of the Nigerian naira against the dollar, the Central Bank of Nigeria (CBN) has implemented a 5.3% reduction in the exchange rate used for computing Customs…
CBN Revokes Licenses of 4,173 BDCs Amid Efforts to Stabilize Forex Market
In a bid to restore confidence in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken a significant step by revoking the licenses of 4,173 Bureaux De Change (BDC)…
ESUT, Ministry of Youths and Sports to partner on entrepreneurship development
The Enugu State University of Science and Technology, ESUT, and the state’s Ministry of Youths and Sports, on Thursday, reached an agreement to partner on youths entrepreneurial training in the state.
South-East nominee Declines Tinubu’s appointment to CBN Board
In an unexpected turn of events, Urum Kalu Eke, a nominee for membership of the Central Bank of Nigeria (CBN) Board of Directors, has declined the offer, citing conflicts with his current…
Geometric Integrated Power Project Commissioned in Aba: A Milestone in Abia State’s Development
Abia State Governor, Alex Otti, expressed immense pleasure and pride as he joined Vice President Senator Kashim Shettima and other dignitaries to commission the Geometric Integrated Power Project (GIPP). This significant achievement…
FEC Approves Orosanye Report for Governance Restructuring
The Federal Executive Council (FEC) has given its approval for the implementation of the Orosanye Report, aimed at reducing the cost of governance in Nigeria. The decision, announced by the Minister of…
Netherlands Investors Pledge €25 Million Grant for Crucial Bridge Construction in Nigeria
In a significant development, the Ministry of Works, representing the Federal Government, has successfully secured a €25 million grant to fund the construction of 28 vital bridges across Nigeria. This milestone was…
UK , Nigeria to Sign Trade , Investment Partnership
The United Kingdom and Nigeria are on the verge of signing a historic partnership agreement that will allow British legal practitioners to conduct business and provide services in Nigeria. The deal, named…
Nigeria’s FIRS to Enforce Tax Payment for Social Media Content Creators and Influencers
In a bid to bolster revenue collection and ensure tax compliance, Nigeria’s Federal Inland Revenue Service (FIRS) has set its sights on social media content creators and influencers, asserting that they constitute…
CBN Adjusts Exchange Rate Again to N1,413.62/$1 Amid Stakeholder Opposition
In a surprising turn of events, the Central Bank of Nigeria (CBN) has readjusted the exchange rate on the Customs platform from the previously increased N1,356.883/$1 to a new rate of N1,413.62/$1….
CBN Increases IMTO Licence Application Fee by 1,900%
The Central Bank of Nigeria (CBN) has implemented a staggering 1,900% increase in the application fee for international money transfer operators (IMTO), according to revised guidelines released on January 31, 2024. The…
CBN Implements 43% Increase in Import Duty
In a surprising move, the Central Bank of Nigeria (CBN) has approved a substantial 43% increase in the import duty rate, sending shockwaves through the business and trading communities. The exchange rate…
Central Bank of Nigeria Injects $500 Million to Address Forex Backlog
In a bid to tackle the persistent backlog of verified foreign exchange (forex) transactions, the Central Bank of Nigeria (CBN) has injected an additional $500 million into the market. This move follows…
Abia Governor Establishes Global Economic Advisory Council
Governor Alex Otti of Abia State proudly announced the establishment of the Abia Global Economic Advisory Council (AGEAC). Comprising eminent personalities from diverse fields, this council will serve as a valuable source…
Shell agrees to sell Nigerian onshore subsidiary, SPDC
Shell is set to sell its Nigerian onshore company, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to a group called Renaissance. This group includes four Nigerian companies and one international…
Dangote diesel, fuel to hit market this month — Aliko Dangote
In a significant stride for Nigeria’s energy sector, the Dangote Petroleum Refinery has initiated the production of diesel and aviation fuel. Alhaji Aliko Dangote, President of the Dangote Group, expressed gratitude to…
CBN Restricts Crypto Bank Account Operators From Withdrawing Cash
The Central Bank of Nigeria (CBN) has rolled out stringent measures affecting cash withdrawals from accounts primarily used for virtual and digital assets transactions, a move that has sent ripples across the…
Banks Begin Mass Recovery of COVID-19 Relief Loans, Customers Alarmed by Unexpected Deductions
A widespread loan recovery effort has been initiated by commercial banks targeting the loans disbursed to individuals and Micro, Small, and Medium Enterprises (MSMEs) in response to the economic repercussions of the…