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Monetary rate cuts to 11.5%

THE Central Bank of Nigeria (CBN) has cut the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent, an indication of a reduction in the cost of funds by 100 basis points.

Nigeria not a complete disaster — Wole Soyinka

“Chronicles from the Land of the Happiest People on Earth”. That’s the title of Nobel laureate, Professor Wole Soyinka’s new novel.

Kanu’s trial: Heavy security presence at Federal High Court

Security agents have barricaded the Federal High Court Abuja, ahead of scheduled re-arraingment of the detained leader of the proscribed Indigenous People of Biafra, IPOB, Nnamdi Kanu.

Ngige faults exclusion of labour ministry in draft social protection policy

The Minister of Labour and Employment, Senator Chris Ngige has faulted the exclusion of his ministry in the draft National Social Protection Policy.

Miriam Olusanya becomes first female GTBank Managing Director

The Board of Directors of Guaranty Trust Holding Company Plc (GTCO) has appointed Miriam Olusanya as the new managing director of GTBank Limited, its subsidiary.

CBN says governments will be able to send direct payments to citizens using the eNaira

The Central Bank of Nigeria (CBN) has stated that the eNaira can serve as a medium for the government to send direct payments to citizens eligible for specific welfare programs.

98% of Nigerians operating in the informal economy pay taxes – Report

A recent report has revealed that up to 98% of Nigerians operating in the informal economy pay taxes daily, with some businesses paying taxes 3 times a day. In Lagos, for instance, some bus drivers pay as much as N3,000 a day in taxes to different groups.

FUGAZ banks stocks investors lose N31.56 billion during the week

The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.43 trillion at the close of business, on Friday, August 6, 2021, as investors in these banks lost N31.56 billion during the trading week, making it the second consecutive week FUGAZ stocks have closed negative.

Rising cost of cooking gas is driving Nigerian homes to alternative fuel sources

Nigeria has been unable to deepen the penetration and utilization of Liquefied Petroleum Gas (LPG) in the country despite theoretically being in a position to produce sufficient LPG to meet local demand.

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