Nigeria's Cashless Transactions Hit N611tn - Report The Nigeria Inter-Bank Settlement System has revealed that cashless transactions in the country rose to N611.06tn in 2023. It said this in its report on Wednesday that the payments grew by 54.55 per cent year-on-year from N395.38tn in 2022. NIBSS...

N100bn Gas Project: Senate Orders Edun to Give Implication Details in Seven Days  Senate Committee on Gas has given the Finance Minister, Wale Edun, a-seven-day ultimatum to provide details of the award and disbursement of over N100bn to companies engaged in the handling of the...

EFCC 7,000-man Task Force Clamps Down on Dollar Racketeers The Economic and Financial Crimes Commission has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers. In a move to reduce the pressure on the naira, the spokesperson for...

FBN Holdings Reports N350bn FX Loss in 2023 FBN Holdings, one of the biggest banks in Nigeria, has reported a foreign exchange loss of N350.3 billion last year compared to a gain of N22.4 billion in 2022, according to its latest unaudited financial statements. Foreign exchange...

50% Tax on Telecom Operators Deter Foreign Investment – NCC The Nigerian Communications Commission (NCC) has appealed to states and local government councils across the country to cut taxes imposed on telecom companies, asserting that excessive taxation will be counterproductive to the growth of the...

Minister Discloses Plan to Improve Country’s Gas Sector as Debt Hits $1.3bn The Federal Government is now implementing measures to significantly reduce the cost of Liquefied Petroleum Gas, popularly called cooking gas, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced on Tuesday. Ekpo...