• Fault tax increase, claim all sectors bleeding seriously The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Centre for the Promotion of Private Enterprise (CPPE) have lamented the deplorable state of the economy, stressing that virtually all the sectors are seriously struggling to remain afloat. President of the Nigerian […]
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•Experts want agency to focus on development agenda With calls on the National Information and Technology Development Agency (NITDA) to focus more on developmental issues, stakeholders in the sector have said that passing the pending NITDA Bill into law is a recipe that would engender regulatory and compliance hurdles for businesses in the digital economy. […]
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Photo: Samuel Corum/Getty Images/AFP $4.7 billion needed to bridge credit gap Multiple economic shocks in recent years, amid a slow rise in per capita income in more than three decades, have put developing economies in real danger if urgent steps are not taken, the managing director of International Monetary Fund (IMF), Kristalina Georgieva, has warned. […]
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Photo by Samuel Corum/ Getty Images North America/ AFP – Banking sector stress, interest rate, others top Spring Meetings deliberation – Nigerian monetary, fiscal authorities to reveal progress on key reforms On account of China’s relaxation of COVID-19 restrictions and the better-than-expected performance of the advanced economies last quarter, the World Bank has reviewed its […]
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• ‘Unhealthy fiscal condition, domestic borrowing threaten industrialisation’ • Promote new investments to increase revenue, experts advise • Credit to public sector soars by over 600% yearly in five years • Banks, private sector weakening linkage portends danger, Muda Yusuf warns • ‘SME credit to GDP ratio falls to three percent’ Nigeria’s hope for a […]
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• As CBN tightens credit squeeze, raises interest to historic 18 per cent • MPR in sync with economic realities, experts argue • Impacts of SVB’s failure on Nigeria, other African markets in focus at US summit • CBN has taken steps to insulate local banks from risks, Emefiele assures In the face of excruciating […]
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CBN Financial data obtained by The Guardian suggest that deposit money banks (DMBs) had less reason to worry about liquidity last year as borrowing from the Central Bank of Nigeria (CBN) to meet urgent short-term needs dropped by 15.3 per cent to N11.01 trillion. In 2021, banks borrowed a total of N13.01 trillion from the […]
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. Local stocks bullish Nigerians are showing more confidence in domestic stocks as turnover in the stock market has risen by a quarter to more than N2.18 trillion in the past 11 months. Amidst the decline in the global stock market and spiraling inflation, trading data at the Nigerian stock market showed improved momentum, with […]
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Unified rate will support growth, says Rewane • Local refineries must work’ Multiple exchange rates and the retention of petrol subsidy payment are unhelpful to the economy, finance and economic experts said yesterday. They called for urgent policy reforms and redirection of key monetary and fiscal policies to halt economic decline and boost productivity. The […]
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Nigerian Exchange Limited (NGX). Photo/Facebook/ ngxgroup Three bank stocks – Sterling Bank Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc (GTCO) – drove activities in the financial services sector of the Nigerian Exchange Limited (NGX) last week. The financial sector maintained its dominance in volume terms with 663.8 million shares valued at N5.5 […]
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