Hafsat Ibrahim

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CBN Scraps Affidavit Rule for Dormant Accounts

The Central Bank of Nigeria (CBN) has revised its guidelines on dormant bank accounts, removing the mandatory requirement for customers to present affidavits when reactivating such accounts.

Importers Decry Arbitrary Charges at Nigerian Ports

Importers and freight stakeholders have raised alarm over arbitrary charges at Nigerian seaports, warning that the practice is driving up costs and undermining competitiveness in the maritime sector.

FAAC shares N1.894trn to FG, states, LGAs in February

A total of N1.894 trillion, representing the February 2026 Federation Account revenue, has been shared among the Federal Government, state governments and local government councils

Saudi POS Transactions Rise to $4.3bn in One Week as Retail, Education Spending Surge

Saudi Arabia recorded point-of-sale (POS) transactions worth $4.3 billion in the week ending March 7, reflecting strong consumer spending across key sectors despite regional geopolitical tensions.

Tinubu Sets Up Presidential Petroleum Reform Task Force

President Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design the next phase of structural reforms in Nigeria’s petroleum sector.

FAAC Receives 100% Profit Oil as Tinubu’s Executive Order Takes Effect

The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).
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