Frequent FX Rate Adjustment, 48.5% Customs Duty Increasing Production Cost The recent 48.5 percent hike in customs duty by the Central Bank of Nigeria (CBN), through the upward adjustment of the exchange rate for calculating import duties, is expected to push up production costs for...

Credit-based Economy will Boost Industrial Development – NICA Better access to credit will lead to increased entrepreneurship and boost economic development, the National Institute of Credit Administration of Nigeria (NICA) has said. Speaking with newsmen at the weekend, the Registrar/Chief Executive Officer, NICA, Prof. Chris Onalo,...

Nigeria's Move to Restoring Macroeconomic Stability Appropriate – IMF The International Monetary Fund has said stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The report came amid rising inflation, exchange crisis, weak economic growth and business shutdowns. The global...

In Nine Months DisCos Overbill 7. 1 million Unmetered Customers Power distribution companies overbilled about 7.1 million unmetered electricity consumers between January and September 2023, an analysis of the latest monthly number of overbilled customers showed. In the various Regulatory Interventions for Non-Compliance with the Order...

Access Holdings to Announce Herbert Wigwe's Successor Soon Access Holdings has following the confirmation of passing away of its Chief Executive Officer, Herbert Wigwe, announced intention to name his successor soon. According to a statement signed by Sunday Ekwochi, Group's secretary on Sunday, the move is...

Wigwe: Tinubu Mourns as Access Bank Confirms Death of CEO, Wife, Son in Helicopter Crash Access Bank has confirmed the passing of its Chief Executive Officer, Dr Herbert Wigwe, along with his wife and son, in a helicopter crash in the U.S. The bank said in...