Collective Investment Funds Now N2.1trn – SEC The Director General of the Securities and Exchange Commission (SEC) Lamido Yuguda, has said the amount of Collective Investment Scheme funds held in custody has hit N2.1tn as of the end of October 2023 from N1.1tn at the...

FCT Tax Reforms Targets N300bn Annual Revenue   The Federal Capital Territory (FCT) is taking steps towards boosting its revenue streams. Currently, the FCT’s Internally Generated Revenue (IGR) is around N200 billion per year. With the implementation of these new initiatives, the FCT-IRS expects to increase IGR...

Naira Crashes to N1,000 Per Dollar in Official Market Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$. This is a 13.95 per cent decline...

'N1trn Lost Annually to Poor Maritime Infrastructure'   Nigerian shipowners have said that the country’s maritime sector is losing about N1tn annually due to poor infrastructure. The immediate past president of the Shipowners Association of Nigeria, Greg Ogbeifun, said this on Tuesday in Lagos at the national...

Old Banknote Remains Legal Tender - CBN Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of...

JUST IN: Tinubu Signs N2.17trn 2023 Supplementary Budget into Law   President Bola Ahmed Tinubu has signed his first national budget, the 2023 supplementary budget, into law. President Tinubu signed the N2.17trn Budget at the State House, Abuja on Wednesday afternoon. The Senate and the House of Representatives...