W/Bank Upgrades Nigeria’s Economic Growth Forecast To 1.8%
The World Bank yesterday upgraded its economic growth forecast for Nigeria in 2021 to 1.8 per cent, citing higher oil prices, structural oil sector reforms, and market-based flexible exchange rate management.
This represents a 0.7 percentage point increase...
PenCom Stop Charges On Artisans’ Savings Below N5m
The National Pension Commission has ordered Pension Fund Administrators to stop charging any fee on micro pension funds under their management that are below N5m.
It disclosed this on Monday in a circular signed by the Head, Surveillance...
CITN Harps On Taxation As Policy Instrument For Economic Stability
Notwithstanding recent efforts by the Federal Government to reposition taxation for revenue increase, the Chartered Institute of Taxation of Nigeria (CITN) has said that taxation remains one fiscal policy instrument needed for stability, especially in...
Banks Begin N6.98 USSD Charge, Customers Kick
Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions.
However, experts have said that excessive charges by banks could pose a threat to financial inclusion.
According to them, it will increase cash...
N5trn Debt: AMCON Plans To Change Recovery Strategy
The Asset Management Corporation of Nigeria has said that its Asset Management Partners scheme has resolved to change its recovery strategy.
It said in a statement on Sunday titled ‘AMCON AMPs may change recovery strategy’ that it planned...
Remittance To Low, Middle-income Countries Now $540bn
Remittance flows to low- and middle-income countries reached $540 billion last year, just 1.6 per cent below the 2019 total of $548 billion, according to the latest Migration and Development Brief by World Bank has shown.
The bank said...
