Naira Plunges at NAFEM, Parallel Market
The Naira value weakened by 1.9% or N28.73 against the United States Dollar on Thursday, February 22 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) despite unconventional approaches to ease the free fall of the currency. It closed at...
Chainalysis: Cryptocurrency Money Laundering Drops By 29%
A Chainalysis report states that money laundered through cryptocurrency exchanges declined by 29 per cent in 2023.
The report, obtained on Thursday, revealed that those illicit funds dropped by approximately $9.3bn, declining from $31.5bn in 2022 to $22.2bn in...
CBN’s N22.7tr Overdraft to Govt will be Audited – Wale Edun
The N22.7 trillion Ways and Means debt incurred by the Federal Government will be audited, Minister of Finance Wale Edun said yesterday.
The Coordinating Minister for the Economy explains that the measure, which has since...
EU To Invest €37m In Nigeria’s Power Sector
The European Union (EU) is set to invest €37 million in the power sector in Nigeria, in addition to the about €200 million grants it has invested in the sector since 2008.
This disclosure was made by the...
Senate to FIRS: Suspend N17trn Tax Waivers
The Senate through its Committee on Finance on Monday frowned at the N17tn loss incurred by the country on tax waivers within the last five years.
It consequently urged the Federal Inland Revenue Service (FIRS) to suspend the tax...
N47bn Debt: CBN, Aso Villa, DHQ Face Disconnection
No fewer than 86 ministries, agencies and departments of government are owing the Abuja Electricity Distribution Company to the tune of N47bn.
According to a public notice by the management of the AEDC, the Presidential Villa owes the...
