Reps Give Banks 14 Days To Remit N10bn Customs Duties To FG     The House of Representatives Committee on Customs has given two weeks ultimatum to five commercial banks to reconcile accounts and remit all outstanding customs duties to the federal government. The Chairman of the Committee,...

Eight-month Fuel Imports Gulp $690m Amid Forex Scarcity As Nigeria’s refineries continue to sit idle, fuel imports remain a major user of foreign exchange as $690.19m (about N285.95bn, using N414.3/$, I&E rate as of Tuesday) was utilised in eight months amid the lingering forex scarcity...

CBN’s Strategies To Save Naira Failing - LCCI   The Lagos Chamber of Commerce and Industry has said that the Central Bank of Nigeria’s effort to save the naira is only redirecting forex transactions to third parties, increasing pressure on the exchange rate. President of LCCI, Mrs...

W/Bank Says 1.7bn Adults Lack Access To Financial Services           World Bank report says 1.7 billion adults worldwide are unbanked. About half of unbanked people include women poor households in rural areas or out of the workforce. Being able to access to a transaction account is a...

Nigeria Spent N445bn On Debt Servicing In Q2, Debts Hit N35trn           Nigeria spent N445.4bn on debt servicing payments in the second quarter of this year, the latest data obtained from the Debt Management Office have shown. From April to June 2021, Nigeria spent N322.7bn on domestic...

Forex Scarcity: BDCs Fear N300bn Loss, Job Cuts           More than two months after the Central Bank of Nigeria stopped the sale of forex to its licensed Bureau de Change operators, workers in the sector are being laid off over scarcity of forex, findings have revealed. Operators...