Inflation May Worsen As FG’s Borrowing From CBN Hit N19trn   The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46tn as of December 2021 to N19.01tn as of April 2022. According to data from the CBN,...

NDIC Reiterates Commitment To Financial Stability   Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan, said the corporation would continue to monitor the banking sector to address challenges it might be facing. Hassan said this at a retreat for members of the Senate Committee on...

Rivers, 31 Others Attract Zero Foreign Investments In Q1, 2022 - NBS   Thirty-two states in Nigeria, including Rivers and Kaduna, did not attract any foreign investments in the first quarter of 2022. A report by the National Bureau of Statistics (NBS) shows that only Lagos, Oyo,...

FG Offers 9.2% Return For New Three-year Savings Bonds   The Federal Government has opened application list for the June tranches of its monthly retail bond issuance, otherwise known as Federal Government of Nigeria Savings Bond (FGNSB). The Debt Management Office (DMO), which oversees government’s debt issuance...

 Despite Unstable Power, Discos Generated N2.4trn   The Electricity Distribution Companies (Discos) raked in a total of N2.4 trillion as revenue between 2015 and 2020, the National Bureau of Statistics (NBS) has revealed. According to the NBS, revenue generated by the DisCos in 2015 stood at N278.89...

NEPZA, FIRS Sign Pact On Tax Administration In Free Trade Zones   The Nigeria Export Processing Zones Authority (NEPZA) has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) for effective administration of taxes in the free trade zones. Signing the MoU on...