The Governor of CBN, Mr Godwin Emefiele says the bank aims at empowering the cultivation of 80,000 hectares of cotton in 2021. According to the apex bank, this will be with an average output of 120,000 metric tonnes at 1.5 metric tonnes per hectare. Emefiele made this known on Thursday […]
Business
Thirty-two refinery project licences issued to private investors in the country have become invalid in the past three years, according to the Department of Petroleum Resources (DPR). The DPR said on Monday that the number of valid refinery project licences stood at 23 as of March 2021, down from 44 […]
American rapper, entrepreneur, Kanye West, has been officially declared by Forbes as the richest African-American with a net worth of $6.6b. West’s popular Yeezy brand which partnered with Adidas and Gap Inc., the brand is now worth between $3.2bn and $4.7b by UBS Group AG. He has also amassed $122m […]
The Petroleum Products Pricing Regulatory Agency (PPPRA) in its March template, for pump price of the Premium Motor Spirit (PMS) is N212.61 per litre. This is an indication of a subsidy of N50.61 per litre since the only importer of the product- the Pipelines Products Marketing Company (PPMC) has not […]
The Central Bank of Nigeria has introduced a rebate of N5 for every $1 of fund remitted to Nigeria, through International Money Transfer Organisations in its new forex policy. The Central Bank Governor, Godwin Emefiele, disclosed on Saturday during a virtual event organised by Fidelity Bank at its inaugural webinar […]
The price of Bitcoin rose above $50,000 for the first time in history on Tuesday. The buzz around bitcoin grew when Dogecoin a cryptocurrency company was endorsed in a series of tweet by the world second richest man, Elon Musk. Musk didn’t stop at that. ‘Tesla’ his electric car making company […]
The International Monetary Fund (IMF) in a report said Nigeria will need to increase its value-added tax (VAT) rate to at least 10% by 2022 and 15% by 2025 from 7.5% to boost revenues after it recovers from a recession. IMF on Monday said the Nigerian economy is at a […]
The Central Bank of Nigeria (CBN) has reacted to condemnations trailing the directive to Deposit Money Banks (DMBs) to desist from transacting in Cryptocurrencies. In a statement on Sunday, Osita Nwanisobi, Acting Director, Corporate Communications, clarified that the CBN circular of February 5, 2021 did not place any new […]
The Central Bank of Nigeria (CBN) has directed all accounts of persons or entities involved in crypto currency transactions within their bank systems to be close. This is according to a circular dated 5th February 2021 distributed to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions […]
A Civil Organisation, Network for Democracy and Development (NDD), has commended efforts of the Federal Government at improving the state of the economy. The group gave the commendation during a virtual news conference on the state of the nation on Sunday. The NDD National Coordinator, Mr Tajudeen Alabede while addressing […]