Banks Deposit With CBN Hits N822.34bn In July   Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, the apex banks’ Financial Data posted on its website has revealed. The N822.34 billion represents 42 per cent Month-on-Month (MoM) increase...

Saudi Arabia Commits $20m for Rwanda’s Mega Electricity Project   The Kingdom of Saudi Arabia is providing a soft loan of $20 million to fund an ongoing electricity project in Rwanda, that would help boost the latter's socio-economic development, the Press Agency yesterday reported. Economic Confidential gathered...

Manufacturing Output Declines By N720bn - MAN The Manufacturers Association of Nigeria (MAN) has said due to a harsh economic environment, the value of manufacturing production decreased from N7.39tn in 2021 to N6.67tn in 2022, indicating a decline of N720bn. The Chairman, MAN, Apapa branch, Frank...

Senate Appoints Committee Chairmen on Power, Foreign Debts, Appropriation, 71 Others The Senate has unveiled the chairmen of its 74 full-standing committees. The committee chairmen that were announced on Monday include; Abaribe Eyinnaya, Power; Solomon Adeola, Appropriation; and Aliyu Wammako, Local and Foreign Debts. Others are Constitutional...

Tinubu Inaugurates Presidential Committee on Tax Reforms President Bola Tinubu has inaugurated the presidential committee on fiscal policy and tax reforms to eliminate multiple taxation and increase revenue. The inauguration ceremony was held at the State House in Abuja on Tuesday. The Special Adviser to the President...

Borno Fish Traders, Union Protest over N3bn Revenue The youth faction of the Baga Road Market Fish Sellers and Fish Farmers Association, in Maiduguri, Borno State has called on the leaders of the main association, Borno State Fish Producers and Marketers Association, to account for...