CBN Raises Interest Rate To 26.25 % Amid Soaring Inflation Levels
The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. Following a…
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Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
CBN withdraws directive for cybersecurity levy on electronic transfers
The Central Bank of Nigeria (CBN) has withdrawn the directive to banks and other financial institutions to charge cybersecurity levy on electronic transfers. On May 6,…
BREAKING: Emefiele gets N300m bail over new Naira note printing
Former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has been granted a N300million bail following his arraignment on a four-count charge of printing…
12 Oil Blocks Sale: NUPRC Assures Investors Of Presidential Backing
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has received presidential approval to remove all entry barriers to the licensing round including reducing the entry…
Federal Government Suspends Controversial 0.5% Cybersecurity Levy
The federal government has suspended the 0.5% cybersecurity levy on electronic banking transactions that was recently introduced by the Central Bank of Nigeria (CBN).President Bola Tinubu…
EFCC stops dollar transactions, asks embassies to charge in naira
The Economic and Financial Crimes Commission has read the Riot Act to foreign missions based in Nigeria, banning them from transacting in foreign currencies, and mandating…
5G Network: NCC, Digital Economy ministry partner Nokia in capacity building for young Nigerian entrepreneurs
In a bid to ensure speedy connectivity and enhance transmission technologies in Nigeria, the Nigerian Communications Commission (NCC), and Ministry of Communications, Innovation and Digital Economy…
FCT-IRS seals Residency Hotel, Four others over tax evasion
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has sealed off the premises of Residency Hotel, Area 11, Deogratia School, Games Village, Kaura and four other…
Presidency reveals fresh plan to increase VAT rate
The presidency, through its Committee on Fiscal Policy and Tax Reforms, has announced that there is a need to increase the value-added tax (VAT) rate. Chairman…
HAJJ: NAHCON to break Jaiz Bank Monopoly of Hajj savings scheme (H.S.S)
The National Hajj Commission of Nigeria Stakeholders Summit of 2nd and 3rd May ended yesterday, but the mark it left on stakeholders will live beyond 2024.…