The Central Bank of Nigeria (CBN) has projected that diaspora remittances are expected to rise to N31.7871 trillion when fourth-quarter (Q4) 2024 figures are released. The substantial increase in diaspora remittances was attributed to the reforms carried out by the CBN especially the foreign exchange (forex) reforms designed to attract more forex into the country….
Telecom sector regulator, the Nigerian Communications Commission (NCC) has blamed its low revenue generation last year to the failure of telecom operators to purchase 5G spectrum licences. Its Chief Executive Officer/Executive Vice Chairman (CEO/EVC), Aminu Maida, and its Director of Financial Services, Yakubu Gontor, disclosed this in Abuja during the 2025 budget defense before the…
The Federal Government has announced the offering of three Federal Government of Nigeria (FGN) bonds for subscription, with a combined value of N450 billion. This was disclosed in the January 2025 FGN Bond Auction Results issued by the DMO yesterday. The first bond on offer is a N100 billion April 2029 FGN bond, with a…
The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has said the tariff in the telecommunications sector will be reviewed periodically. Edun spoke at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland. According to him, the periodic review will ensure the tariff remains balanced and fair for both consumers…
A year after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability, and analysts expect it to last. Nigeria’s battered currency has lost 70per cent against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago. But its performance since December tells…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stressed the need for bold reforms and smarter investments to ensure sustainable development across member nations. #He urged the Islamic Development Bank (IsDB) to rethink its development financing approach to address current global economic realities. Edun spoke at the IsDB Governors’…
Oil prices eased marginally by one per cent in volatile trade following weak economic news from the U.S. and Germany. Earlier in the day, crude prices were on track to close at 12-week highs on support from a weaker U.S. dollar and as a winter storm boosted demand for energy to heat U.S. homes and…
President Bola Tinubu’s economic reforms, if sustained, have the potential to pull through critical deliverables for the economy to return to a growth path, the Lagos Chamber of Commerce and Industry (LCCI) has said. The group added that the country would witness more impact of the reforms on fundamental indicators such as inflation, interest rates…
The Centre for Infrastructural and Technological Advancement for the Blind (CITAB) has accused Nigerian banks of perpetrating discriminatory practices against visually impaired persons in the country. Its Executive Director, Jolomi Fenemigho, in a statement in Lagos, urged the Central Bank of Nigeria (CBN) and the National Commission for Persons with Disabilities (NCPWD) to urgently address…
