Reps go after 77 oil firms over unremitted N2.6tn revenue
The House of Representatives commenced an investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating in Nigeria. The House is acting on the 2019 report…
CBN to Introduce Bank Cash Hubs, Releases Guideline
The Central Bank of Nigeria has released a draft guideline for the registration and operation of Bank Neutral Cash Hubs which are to serve as central cash deposit points for…
CBN increases currency in circulation by N418bn over cash transactions
THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures obtained from the Central Bank of Nigeria. The CBN data…
Africa Oil Corp Runs Out Of Production Cash
Canadian oil explorer Africa Oil, which holds a 25 percent stake in Turkana exploration venture, has run out of cash to fund production in South Lokichar Basin, making it the…
Company Income Tax Dropped By N124.71Bn In 2021 Q4 -NBS
Company Income Tax (CIT) recorded a N124.71 billion decline from N472.52 billion in quarter three, 2021 to N347.81 billion in quarter four, the National Bureau of Statistics (NBS), said. The…
Revenue collection has increased by 48% in the last five years
The report states that revenue collection has increased from shs13.4 trillion in 2016/2017 to shs21.1 trillion in the 2020/2021 financial year. In the draft national budget for the next financial…
Investors gain N50.35bn as 31 stocks rise
Investors gained N50.35bn on Monday at the end of trading on the floor of the Nigerian Exchange Limited. The market capitalisation of the equities listed on the NGX rose to…
Banks Loan To Private Sector Surged By N5.58 Trillion In 2021
Banks credit to the private sector hit its highest level in December 2021, reaching N35.73 trillion from N30.15 trillion recorded as of December 2020, representing a N5.58 trillion increase in…
Fintech firm to launch financial services marketplace
PayPassage is a digital transaction solutions provider set to launch its financial services platform in Nigeria. The financial services platform would offer digital financial solutions to help drive the financial…
100WF wants more women in Nigeria’s finance industry
A global organisation, 100 Women in Finance, has called for greater participation of women in the Nigerian financial industry. The Chief Executive Officer, 100 Women in Finance, Amanda Pullingger, made…