Frustration Mounts As Discos Consider 40% Electricity Tariffs Hike   Speculations of plans to raise electricity tariffs up by 40 percent barely a few weeks after the removal of the petrol subsidy have triggered anger among customers. While it is mandatory for electricity distribution companies to regularly...

Stock Investors Lose N671bn As Equities Tumble   Stock investors recorded a significant loss of N671bn on Tuesday at the Nigerian equity market which had posted a strong start at the beginning of the second half of the year. The All-Share Index closed at 60,715.04 index points,...

Liquidity Crunch: Banks’ Deposit With CBN Increased To N579.27bn In June   Despite the liquidity crunch in the financial sector, deposit money banks and merchant banks’ deposit with the Central Bank of Nigeria (CBN) increased to N579.27 billion in June 2023, representing an increase of 25.4...

Bank of America Projects Nigeria's Inflation to Hit 30% The Bank of America says the Monetary Policy Committee of the Central Bank may need to increase interest rates by at least 700 basis points before the end of the year to curb inflation. In an interview...

Stock Market Opens Big in H2 as Investors Gain N533bn Stock investors consolidated the bullish sentiments recorded in the first half of the year as they raked in N533bn on the first trading day of the second half of the year. The All-Share Index went up...

FIRS to Collect VAT from Traders, Others The Nigerian Government through the Federal Inland Revenue Service, has announced the VAT Direct Initiative, a scheme aimed towards enabling the government to collect Value Added Taxes from the informal sector and reduce multiple taxations in the informal...