FX Exporters To Receive Bonuses - CBN Exporters who made their foreign exchange proceeds available will from next week get their bonus from the Central Bank of Nigeria (CBN). CBN in a circular had promised to pay N65 bonus for every $1 of repatriated non-oil export...

FG To Finance 2022 Budget Deficit With New Borrowing  President Muhammadu Buhari has written to the House of Representatives seeking an increase in the 2022 budget deficit to be financed through borrowing from the domestic market. According to our correspondent, Buhari said this in a letter...

NIPC: 33 Companies Get Tax Waiver On N543.9bn Investment The Nigeria Investment Promotion Commission has waved 33 companies tax income for a particular period. This is for operating in areas new to the Nigerian economy and investing N543.88billion. The waiver was contained in the first quarter...

Crypto Transactions: CBN Slams Fidelity, FCMB, Four Other Banks N1.31bn Fine The Central Bank of Nigeria (CBN) has penalized six banks for N1.314 billion for alleged non-compliance with cryptocurrency account regulations. The banks include Stanbic IBTC, First City Monument Bank (FCMB), Access Bank, Wema Bank,...

Despite Forex Shortage, Nigeria’s Imports Increase By N12.11trn   According to the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) data, Between 2016 and 2021 Nigeria’s import bill rose from N8.73trn to of N20.84trn. This implies that within the five-year period, imports...

Banks Borrowing From CBN Decline By 0.45% In Q1, 2022   Banks borrowing from the Central Bank of Nigeria (CBN) dropped marginally by 0.45 per cent to N1.35 trillion in the first quarter of 2022 compared to N1.36 trillion reported by the apex banking regulating body...