Foreign Investors Decline Holdings in Nigerian Stocks by 58% Foreign portfolio investors (FPI) scaled down their investments in Nigerian’s stock market to N53.71 billion in the first quarter of 2023, Q1’23, following concerns around rising socio-political risks, increased naira volatility among others. This represents a 58.3...

Budget Office Warns FG of Imminent Crisis as Debt Rises The Budget Office of the Federation has said Nigeria now has a “limited borrowing space” due to its poor debt-to-revenue ratio, stressing that “trouble” looms for the country if it exceeds its limits. The Director-General of...

Banks Demand Tax Clearance Certificate On FX Transactions   The federal and state governments have mandated commercial banks as well as Ministries, Departments and Agencies of Government (MDAs) to henceforth, implement the demand for a valid Tax Clearance Certificate (TCC) as a prerequisite for carrying out...

IMF To Nigeria: Expect Significant Reduction In Foreign Loans   The International Monetary Fund (IMF) has warned Nigeria to expect a significant reduction in foreign loans as the global economy continues to experience new shocks and contractions. The IMF Deputy Divisional Chief, Wenjie Chen, stated this during...

DMO Says Repayment Of N22.7trn Loan To Begin 2026   The repayments of principal to service the loans from the Central Bank of Nigeria (CBN) through the Ways and Means Advances will begin in four years. This was according to a disclosure by the Debt Management Office...

Top Ten Banks Pay N260.3bn As Income Tax   Ten top commercial banks listed on the Nigerian Exchange Limited have paid N260.3 billion as Company income tax (CIT) in 2022, representing a 28 percent increase over the N203.06 billion they paid in 2021. This was disclosed by...