The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50 per cent from 27.25 per cent as part of efforts to combat surging inflation.  This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank…

After several postponements, the Port Harcourt refinery has finally commenced fuel production. The Nigerian National Petroleum Company Limited confirmed this to our correspondent on Tuesday. NNPC spokesperson, Olufemi Soneye, said the loading of trucks would start today. “Port Harcourt Refinery begins production. Truck…

A total sum of N1.354 trillion June 2024 federation accounts revenue has been shared with the Federal Government, states, and local government councils in the country. The revenue was shared at the July 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held…

The World Bank’s newly appointed Country Director for Nigeria, Dr. Ndiamé Diop, has assumed his new position today. He is succeeding Shubham Chaudhuri who completed his term in the same capacity. Before his assignment to Abuja, Dr. Diop served as the World Bank…

Binance has been hit with a fine of 188.2 million rupees ($2.25 million) by India’s Financial Intelligence Unit (FIU), as the crypto exchange firm battles for its reputation in an ongoing court trial in Nigeria. In India, virtual digital asset service providers like…

The Nigeria Customs Service (NCS) said its revenue grew by ₦1.9trn in the past year, and that it has started working with the Central Bank of Nigeria (CBN), to achieve a stable exchange rate for imports. A breakdown of its revenue in the…

Nigeria’s inflation rate rose to 33.69% in April 2024 compared to March 2024 headline inflation rate which was 33.20%. This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Wednesday. “In April 2024, the headline inflation…

Lagos state governor, Babajide Sanwo-Olu, has called for the building of a sustainable tax culture anchored on transparency, accountability, and efficiency in tax administration. Sanwo-Olu in his address at the 26th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN) hinged…

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC), have arrested thirteen fake Bureau De Change operators in Lagos. A statement by the commission’s Head, Media & Publicity, Dele Oyewale, on Tuesday, said they were arrested for operating…