Three years in, eNaira Struggles as Transactions Crawl to N29bn Nigerians have continued to ignore the eNaira, which has now been used for only N29.3 billion worth of transactions since its October 2021 launch. Unveiled by former president Muhammadu Buhari as a tool to promote financial...

IMF Advices CBN Against Waivers for Deposit Banks The International Monetary Fund (IMF) has strongly urged the Central Bank of Nigeria (CBN) to unwind the regulatory forbearance granted to Deposit Money Banks during the COVID-19 pandemic. It also cautioned against the Federal Government over the proposed...

Ondo Internal Revenue Rises to N40bn The Ondo State Government has disclosed that its Internally Generated Revenue has increased by 300 per cent to N40bn from N10bn. The Chairman of the Ondo State Internal Revenue Service, Mr Tolu Adegbie, stated this at the induction/training programme for...

Ogun Customs Confiscates N380.37m Contraband The Nigeria Customs Service, Ogun 1 Area Command has confiscated 103 contraband with a duty paid value of N380.37m in 23 days. The Area Controller of Ogun 1 Command, Comptroller James Ojo, disclosed this during his maiden briefing in Abeokuta on...

FG to Telecoms: Tariff Hike Not a Viable Option The Federal Government has faulted the proposal by telecommunications companies to raise their tariffs, emphasising that increasing data, voice and text message prices isn’t the “sole or optimal solution” to the sector’s challenges. It also urged the...

Defer Cybersecurity Levy, NESG Urges CBN The Nigerian Economic Summit Group (NESG) has called on the Central Bank of Nigeria (CBN) to defer the newly announced 0.5% cybersecurity levy on all electronic transactions value as specified in the Cybercrime Act. NESG said this has become necessary...