FAAC: FG, States, LGs Share N1.1trn for August The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.1 trillion as Federation Account Revenue to the Federal Government, States and Local Government Councils for August, 2023. A communique issued by the FAAC at its...

Nigerians to Utilize Different Tariff for Calls, Data in States - Telcos Telecommunication firms have announced that Nigerians may soon be paying different prices in different states for calls, data, SMS, and other telecommunication services. According to the telcos, this measure is to mitigate against multiple...

CBN Will Spend $3bn Loan to Stabilise Economy – NEC The National Economic Council on Thursday affirmed that the $3bn emergency loan-for-crude oil the Federal Government secured in August would be deployed to stabilise the naira, whose value has continued to fluctuate in the Investors...

NEITI Knocks NNPCL Over Failed 2.8tn Tax Payment The Nigerian National Petroleum Company Limited did not pay approximately N2.8 trillion in taxes to the Federal Government in 2022, according to the Nigerian Extractive Industries Transparency Initiative. In its newly released ‘2021 Oil and Gas Industry Report’,...

Credit to Private Sector, Govt Rise by 42.68% to N87.27trn   The Central Bank of Nigeria (CBN) has disclosed that banks’ credit to the economy rose by 42.68 per cent Year-on-Year (YoY) to N87.27 trillion in August 2023 from N61.17 trillion reported in the corresponding period...

Forex Inflow Hits $10.7bn In Two Months - CBN Nigeria recorded $10.7bn aggregate foreign exchange inflow into the economy in April and May, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN disclosed this in its May economic report on foreign exchange...