Economy

Following controversies trailing a claim of a missing N89.09tn allegedly siphoned from stamp duty charges, the Presidency said such claims were false. It also said the entire banking sector deposits in Nigerian did not amount to half of N89tn. “It is now evident that the consultants and petitioners’ claims of a …

The United States Chamber of Commerce, through its subsidiary, US-Africa Business Center, has signed a Memorandum of Understanding with the African Continental Free Trade Area to advance trade between the US and Africa. The MoU was signed on Tuesday to launch a working group to help advance trade and investment …

Nigeria spent a total of $6.23m on foreign healthcare-related services from January to August 22, 2023. This is according to a report obtained from the Central Bank of Nigeria on the amount spent on health-related and social services under the sectoral utilisation for transactions valid for foreign exchange. According to …

There was a large turnout of people on Tuesday at the Economic and Financial Crimes Commission (EFCC) office in Abuja with the commencement of the auctioning of 35 cars. The exercise followed the order of the final forfeitures secured by the anti-graft agency from courts. It was observed that prospective …

The Senate has postponed its debate on the cash withdrawal policy by the Central Bank of Nigeria (CBN) till Wednesday, December 14, 2022. This is because of the absence of the Chairman of the Committee on Banking and Finance, Senator Uba Sani, who is away attending the All Progressives Congress …

Human rights lawyer Femi Falana has said that the Central Bank of Nigeria’s (CBN) new cash withdrawal limit is illegal. Recall that the CBN recently ordered Deposit Money Banks (DMOs) and other financial institutions to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities do not exceed …

The Director General of the National Directorate of Employment, Mallam Abubakar Fikpo, has appealed to the beneficiaries of NDE loans to pay back as at when due to enable others benefit. Fikpo made the appeal on Friday while disbursing N4.2 million to 42 beneficiaries of NDE loan to farmers in …

The Nigerian Railway Corporation has announced the adjustment of the take-off time schedule for its last two trains from Idu (Abuja) to Rigasa (Kaduna) and vice versa. The Manager, Abuja-Kaduna Train Service, Mr Pascal Nnorli, told the News Agency of Nigeria on Friday that the adjustments were to ensure early …

The Federal Government has disclosed that the Second Niger Bridge will only be open to traffic from December 15, 2022, to January 15, 2023. Minister of Works and Housing, Babatunde Fashola (SAN), made this known while answering questions from journalists in Abuja on Thursday. The minister said the Federal Government …

The House of Representatives Committee on Public Accounts has submitted its report on ministries, departments and agencies of the Federal Government who failed to render their audited accounts within eight years. Prominent among those indicted in the report laid at the plenary on Thursday by the committee’s Chairman, Oluwole Oke, …