Banking & Finance
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151CBN Suspends Export Proceeds Repatriation Extension
The Central Bank of Nigeria has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This...
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158Oil, Gas Sector Received 31.1% of Banks’ Credit Allocation in Q3 2024
The oil and gas sector received 31.1% of deposit money banks’ (DMBs) total credit allocation in the third quarter of 2024, highlighting...
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167China Development Bank Approves $254.76m Loan for Kano-Kaduna Railway
The China Development Bank (CDB) has approved a $254.76 million (€245 million) loan to support the Kano-Kaduna railway project. The funding, announced on...
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122Naira Gains 125/$ One Month After EFEMS
Nigeria’s currency has appreciated by N125 to a dollar one month after the launch of the Electronic Foreign Exchange Matching System (EFEMS)....
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124
Liquidity Squeeze: DMBs, Merchant Banks Borrowed ₦131.42tr from CBN in 2024
Following the tight monetary policy regime by the Central Bank of Nigeria (CBN), which led to liquidity squeeze, Deposit Money Banks (DMBs)...
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201New Withholding Tax Policy Begins
The Federal Government has commenced the implementation of the 2024 Withholding Tax Regulations, signalling effort to modernise Nigeria’s tax system. Approved by...
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217Finance and Insurance Sub-sector Grew by 31% in Q2 –CBN
The financial and insurance sub-sectors of Nigeria’s services sector achieved a significant growth of 30.83% in the second quarter of 2024. According...
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216Finance Ministry Inaugurates Anti-corruption Unit Committee
The Federal Ministry of Finance has inaugurated its Anti-Corruption and Transparency Unit Committee to enhance transparency and accountability within the public service....
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137
90% Public, Private Sector Workers to Pay Lower Taxes –Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has maintained that over 90 per cent of...
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105Capital Adequacy Ratio of Banks Rose to 14% in Q3 2024 –CBN
The Central Bank of Nigeria (CBN) reported a notable improvement in the banking sector’s Capital Adequacy Ratio (CAR), which increased to 14.01%...
