Forex Crisis, Insecurity Slash Capital Inflows By 23%
Insecurity and lingering foreign exchange crisis have forced the capital importation into Nigeria to decline further by 23 per cent.
Capital Importation measures the aggregate of foreign investments into an economic entity within a given period. It is...
Fed Govt Generates N127.03bn Tax From Calls, SMS
The Federal Government made N127.03bn from Value Added Tax on calls, SMS, data, and other information and communication services in the first six month of the year.
This is 10.69 per cent of the total N1.19tn that was...
FG Suspends Telecoms Tariff Hike, Excise Duty
President Muhammadu Buhari has approved the suspension of the proposed excise duty on telecommunications indefinitely and constituted a committee to look into the matter.
The suspended scheme could have seen an added tax to the tariff for telecom network subscribers...
Osinbajo Says Debt-for-climate Initiative Will Reduce Nigeria’s Debt Burden
The Vice President of Nigeria, Prof. Yemi Osinbajo, has said the Federal Government will reap a huge debt relief from some creditors in dollars if Nigeria’s idea for a Debt-for-Climate swap deal is widely accepted.
A statement...
Fed Govt Pays Foreign Firm $496m For Contract Violation
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami has disclosed that the Federal Government has settled a long-standing $5.26bn contractual dispute with a foreign investor group in the steel sector for $496m.
A statement...
Commercial Banks Borrow N4.4trn From CBN In Three Months
Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested.
Banks regularly access the...
