Nigeria Remains Third-Largest Debtor to IDA With $17bn   Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association (IDA) with its exposure climbing to $17.1bn as of September 30, 2024. According to the World Bank’s latest financial statements for the...

Passenger Luggage: Delay Will Now Attract $170, N10,000 Fines – NCAA   The Nigeria Civil Aviation Authority (NCAA) has vowed to take tough measures against airlines that delay passengers’ luggage. The regulatory agency said it will impose fines of $170 and N10,000 on foreign and local airlines,...

Foreign Exchange Policy, Interest Rate Increase Foreign Portfolio Investment by 170%   The Central Bank of Nigeria (CBN) high interest rate regime and foreign exchange policy have whetted the appetite of Foreign Portfolio Investors, FPIs, as inflows amounting to N696.88 billion came into the stock market...

Customs Impounds 67,000 Litres of PMS Worth N84m   Amid the fuel hike in fuel price in Nigeria, Operation Whirlwind of the Nigeria Customs Service (NCS) has intercepted 67,000 litres of Premium Motor Spirit (PMS) otherwise known as petrol, valued at N84, 870,000,000 from smugglers. In a...

Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp...

Dangote named most tax complaint business organizations by FIRS It was a season of award at the weekend for the Dangote Group and its subsidiaries following their recognition as best Nigeria’s best compliant tax payer business organization and FMDQ Gold award winner for being the...