Mixed reactions have continued to trail the Central Bank of Nigeria’s decision to increase the Monetary Policy Rate (MPR) benchmark, also known as the interest rate, from 16.6 per cent to 17.5 per cent to tackle inflation. Recall that the Governor of CBN, Godwin Emefiele, in a communique on Tuesday, …
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Economic experts have said Nigerians would lose their hard-earned money over the Central Bank of Nigeria’s refusal to extend the January 31 deadline for phasing out N200, N500 and N1000 notes. Recall that the Governor of CBN, Godwin Emefiele, said there is no going back on the deadline shortly after the Monetary …
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THE Federal Government’s decision to increase the pump price of premium motor spirit (petrol) by eight per cent has failed to ease supply challenges in the country, as independent marketers now sell the product N300 per litre. Recall that the government had a few days ago, raise the pump price of …
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As the 31 January 2023 deadline given by the Central Bank of Nigeria, CBN, to phase out the old naira notes inches closer, economic experts have said that refusing to extend the deadline is insensitive and would spell doom for the country’s economy. The call is an addition to several …
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The Federal Inland Revenue Service, FIRS, on Monday said it collected over N10 trillion in tax revenue in 2022, which is the highest tax collection in its history. In 2021, FIRS achieved a record tax collection of N6.405 trillion. The Service built on the success of the preceding year in …
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The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has slammed commercial banks for not issuing the new naira notes. Emefiele warned that any commercial bank that failed to issue the new naira notes to customers would be fined N1 million on a daily basis. The CBN governor, …
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Fuel scarcity has resurfaced in the federal capital territory, FCT, Lagos and other major cities amid a pump price increase from 179/per litre to N194/litre on Thursday. Checks by Newsextra24 found that Nigeria National Petroleum Corporation Limited filling stations in Maitama, along Kubwa Expressway, Mega Station CBD, Jabi, adjusted their …
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THE Central Bank of Nigeria, CBN yesterday said that it has been begging banks to come and collect the new N200, N500 and N1,000 naira notes. The apex bank also disclosed it stopped withdrawal to curb abuse and adding that disbursement of the new naira notes has been restricted to ATMs in order to …
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The Federation Account Allocation Committee (FAAC) has shared N990.189 billion to the three tiers of government for December 2022. Phil Abiamuwe-Mowete, Director (Information/Press), Ministry of Finance, Budget and National Planning, gave the details on Tuesday. The Federal Government received N375.306billion, States and the FCT received N299.557billion, while the 774 Local …
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An Accounting and Financial Development don at Lead City University, Ibadan, Prof Godwin Oyedokun said the Nigeria’s 0.13 per cent December inflation figure decline is not worth celebrating. According to the National Bureau of Statistics, NBS, Consumer Price Index Report on Monday, December inflation slightly declined from 21.47% in November …
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