Frequent FX Rate Adjustment, 48.5% Customs Duty Increasing Production Cost The recent 48.5 percent hike in customs duty by the Central Bank of Nigeria (CBN), through the upward adjustment of the exchange rate for calculating import duties, is expected to push up production costs for...

In July, Lending, Savings Rates Hit 22.14% – Report   The gap between the maximum lending rate and savings deposit rate in the banking sector widened by 22.14 per cent in July. Banks savings deposit rate rose slightly to 5.24 per cent in July from 5.18 per...

MPC: Experts Predict Rise In Inflation, Unchanged Rates   Financial and economic experts have said the Monetary Policy Committee of the Central Bank of Nigeria will likely leave the Monetary Policy Rate, also known as the benchmark interest rate, unchanged at the end of its two-day...

Amid End Of 5% VAT, Airlines Retain Ticket Rates Air travellers expecting marginal review of fares following the recent removal of mandatory five per cent Value Added Tax (VAT) on transportation may have to wait longer. Airlines operators, who though lauded the gesture, saw the development...

Dollar Rates: Nigeria Records Zero Rise In Budget, Capital Spending In 10 Yrs – Data   In terms of the foreign exchange (forex) rates in the United States dollars equivalent, Nigeria may not have increased its budgetary and capital spending in the last 10 years, data...