Nigeria Launches Dollar Amnesty
The Nigerian federal government has announced a new policy to encourage citizens holding dollars outside of formal banking channels to bring those funds into the…
Category: Finance
Nigerian Currency Depreciate Against Dollar
Nigeria’s currency, the Naira, saw mixed performance against the U.S. dollar in recent trading sessions, with a slight depreciation at the official market on Wednesday,…
Creative Economy Development Fund Approved – FG
Nigeria’s creative economy received a significant boost on Wednesday as the Federal Executive Council, led by President Bola Tinubu, approved the establishment of the Creative…
CBN’s Hawkish Stance Amid Inflationary Pressures
In a bid to tame runaway inflation, Central Bank Governor Olayemi Cardoso justified the recent interest rate hike in a speech at the Harvard Club…
Nigeria’s Central Bank Tightens Grip on Interest Rates
Following the appointment of Olayemi Cardoso as Governor of the Central Bank of Nigeria (CBN) last year, the monetary authority has been on a persistent…
False Alarm of Cardoso’s Resignation: Presidency Dismisses Rumors
President Bola Tinubu has refuted claims that he ordered Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN), to step down from his position.…
Retirees to Face uncertain Future Amid Growing Financial Risks
The nation’s retirees, numbering over 70 million, may need to temper their expectations regarding the potential increase in their Social Security benefits in 2025. According…
7.5% VAT Rate Stays: Nigerian Minister Dismisses Rumors of VAT Hike
Finance Minister Wale Edun quelled rumors of a looming VAT rate hike, firmly asserting that the VAT rate will remain at 7.5%, in accordance with…
Opay Enforces FIRS Regulation of N50 charges on transactions above N10k
Inland Revenue Service (FIRS) regulations, popular fintech company Opay has announced that it will be implementing a one-time fee of ₦50 for electronic transfers above…