CBN Launches BVN for Nigerians in Diaspora
The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform, allowing Nigerians…
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Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
World Bank Raises Concerns Over Nigeria’s 2025 Budget Assumptions
The World Bank has described Nigeria’s key assumptions for the 2025 national budget as overly optimistic, citing a significant gap between the projected figures and current…
JUST IN: Dangote Refinery Reduces Petrol Price to N825 per Litre
Dangote Petroleum Refinery has further reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, to N825 per litre, down from the previous…
Tinubu Orders Removal of Checkpoints to Boost ECOWAS Free Movement
President Bola Tinubu has ordered the setting up of a Presidential Task Force to dismantle multiple checkpoints that are hindering free movement. Ambassador Musa Nuhu, Permanent…
CBEX Resumes Operations Despite N1.2tn Fraud Allegation, Sets June for Investor Withdrawals
Despite facing allegations of a N1.2 trillion digital trading fraud affecting over 600,000 Nigerians, the embattled Crypto Bridge Exchange (CBEX) has resumed operations and introduced new…
FIRS Orders Banks to Shut Down Unauthorised Tax Collection Accounts
The Federal Inland Revenue Service (FIRS) has directed all banks in Nigeria to immediately identify and close any tax or levy collection accounts not authorised through…
FG bans importation of oil pipelines
The Federal Government has announced a ban on the importation of oil pipelines into Nigeria. The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, stated this on…
MTN Hit by Cyber Attack – Company Confirms Breach
MTN Group has confirmed it was the target of a cybersecurity breach that resulted in unauthorised access to personal data belonging to some of its customers…
Nigerians To Become Poorer by 2027 – World Bank
The World Bank has projected that poverty levels in Nigeria will rise by 2027, despite the country’s vast natural resource endowment. This forecast was contained in…
Dangote, Mikano, 103 others Get FG’s Tax Waivers
The number of companies enjoying tax exemptions under the Federal Government’s Pioneer Status Incentive (PSI) scheme rose to 105 as of December 2024, even as the…