Banking and Finance

Earlier today, the Debt Management Office (DMO), on behalf of the Federal Government, announced the offering of N100 billion Ijarah Sukuk bonds for subscriptions. According to a press statement released via the DMO website and seen by Nairametrics, the bonds are offered at 15.64% per annum and…

The Central Bank of Nigeria (CBN) has said that the newly introduced electronic naira and the plan to redesign bank notes are in line with international best practice.  The CBN Director in charge of Corporate Communications, Osita Nwanisobi, said this in…

The Federal Inland Revenue Service (FIRS) has announced the opening of 25 new satellite tax offices across the country. The service made the announcement in a statement signed by its Special Assistant On Media and Communication to the Chairman, Oluwatobi Wojuola. FIRS noted that…

The International Monetary Fund (IMF) has again raised concerns about petrol subsidy, asking the Federal Government to stop subsidising petrol cost. The organisation also expressed concern with the volume of fuel consumption and tax write-offs by the Nigerian National Petroleum Company (NNPC). IMF made…

The African Development Bank (AfDB) Group has approved equity investment of $20 million to boost renewable energy provision in Nigeria and other parts of sub-Saharan Africa. The $20 million cash in Evolution Fund III is a pan-African clean and sustainable energy private equity…

The Central Bank of Nigeria has instructed commercial banks in the country to work on Saturdays till January 31, 2023, to enable bank customers to return old naira notes for new ones. The CBN had announced plans to redesign, produce, release, and circulate…

Ahead of the planned redesign of the naira, the Central Bank of Nigeria (CBN) has pledged to protect Nigerians in the unbanked, underserved and rural areas. The apex bank had on October 26, 2022 said it will redesign the N200, N500, and N1,000…

Data obtained from the website of the Central Bank of Nigeria on Sunday revealed that Nigeria’s educational sector suffered massive capital flight during the regime of the President, Major General Muhammadu Buhari(retd). Specifically, using the CBN’s balance of payment statistics, Nigerians have spent…

Following a surge in prices, yields on Nigeria’s Eurobonds tumbled as investors’ demand in the secondary market persisted since the beginning of the month of November 2022, latest data by Debt Management Office (DMO) has revealed. Experts attributed the hike in prices to the Naira…

The naira yesterday recorded major gain against the dollar, closing at N680/$ at the parallel market in a new wave of sustained recovery after weeks of depreciation. The recovery of the local currency is linked to ease in dollar demand and release of…