Consumers, Companies’ Taxes Increase by 96% to N2.3trn   Government revenue got a boost as taxes from companies and consumers rose by 96.11 per cent to N2.31trn in the second quarter of 2023, signifying a huge jump between the first quarter and second quarter of the...

Naira Trades N738/$1 at I&E Window, Sells 918/1$ at Parallel Market Naira gained 4.79 percent of its value against the dollar at the Investors and Exporters (I&E) forex window on Wednesday. At the end of trading on Wednesday, the dollar was quoted at N738.18/$1 as against...

110 Top Executives, Others Sacked over N82bn Fraud - Report  The Financial Institutions Training Centre report has revealed that at least 110 top bank executives and junior staff members have been sacked for fraud-related cases in the past two years. These were contained in the ‘Reports...

Insurance Firms, Banks Others Contribute N1.72trn To Economy   Banks, insurance companies and other financial institutions contributed N1.72 trillion to the nation’s real Gross Domestic Product (GDP) in the first half of the year, H1’23. This represents 27 percent year-on-year YoY growth from the N1.35 trillion contributed...

In Six Months, Product Taxes Rise To N1.36trn – NBS   Taxes on products in the country rose to N1.36tn in the first six months of 2023 despite worsening hardship across the board. This is a 113.29 per cent increase from the N636.19bn it was in the...

Currency Swap: CBN Repays 5.10 billion yuan Ahead of Nigeria-China Renewal Deal The Central Bank of Nigeria (CBN) says it has repaid 5.10 billion Chinese yuan (CNY) out of the 6 billion utilized from the Nigeria-China currency swap agreement, expected to be renewed next year. The...