Financial

FG To Jail Defaulting Bank Executives Over Windfall Tax   The Federal Government has proposed the imprisonment of principal officers of banks who refuse to comply...

World Bank, AfDB Move To Invest $7.5bn In Nigeria’s Power Sector   The Minister of Power, Adebayo Adelabu, has said that the World Bank and the...

Crude Oil Revenue Increases by N91bn in June – FG The marginal rise in crude oil production in June 2024 increased Nigeria’s earnings from crude...

EXCLUSIVE: Supreme Court Ruling; Many Governors in Alleged Last-minute Devouring of LGA Funds The last may not have been heard of the Supreme Court ruling...

The National Assembly has been presented with a request from President Bola Ahmed Tinubu to approve a staggering N6.2 trillion increase to the 2024 budget. 

The British International Investment (BII), the UK’s development finance institution and impact investor, has just committed $50 million to Access Bank. 

Inflation Increases to 34.19% Amid Soaring Food Prices Nigeria’s inflation rate increased to 34.19 percent in June 2024 from 33.95 percent in May. The data is...

Nigeria Records 87m Bribery Cases in 2023 - NBS According to the latest report from the National Bureau of Statistics (NBS), Nigeria has witnessed a...

Report Says New Withholding Tax Regime Excludes Insurance Premiums, Lotteries, Others   The Federal Government has listed insurance premiums, winnings from lotteries and reality shows among...

2024 Budget: FG Allocated N732bn For Empowerment, Higher Than Health Projects Allocation   Tracka, BudgIT’s service delivery promotion platform, which allows citizens to collaborate, track, and...

FG Suspends Tax on Maize, Rice, Other Essential Food Commodities The federal government has announced that certain essential food commodities imported via land and sea...

GenCos, DisCos, Others Exempted from Withholding Tax The federal government has categorised all electricity companies, including the Generation and Distribution Companies (GenCos and DisCos), as...

Nigeria’s Money Supply Nears N100trn in May Nigeria’s money supply (M3) has surged to nearly N100 trillion, hitting a new peak of N99.24 trillion in...

External Reserves Soars to $34 billion Nigeria’s external reserve hit a new milestone in June, rising to $34.07 billion, the highest level since March 2024. This...

It is highly likely that the Federal Government could face a potential loss of N2.97tn and $36.33m if revenue-generating agencies in the country do not reconcile unremitted earnings collected. 

Nigeria Exports N58.65b Electricity in Q1 2024 In the First Quarter 2024 Q1, Nigeria exported N58.65 billion electrical energy to African countries. The National Bureau of...

Nigeria Recorded N1.43tr VAT in Q1 The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N1.43 trillion in Q1...

Although the federal government has issued a state of emergency on food production, Nigeria’s food importation bill has surged to a five-year high in the first quarter of 2024.

EFCC Opens Case Against Sirika, Others Over Alleged N2.8bn Fraud The Economic and Financial Crimes Commission (EFCC) on Monday in a Federal Capital Territory (FCT),...

FG Reportedly Considers Suspending Import Levies on Food to Curb Inflation The federal government is considering suspending import duties on staple food, drugs, and other...