Banks awash with excess cash amidst poverty
•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
Vitafoam remits N1.5bn tax in 5yrs
Vitafoam Nigeria Plc, has in the last five years contributed a total of N1.5billion as tax payment to the government.
Vision 20:2020, a mirage unless Nigeria stops importation – NASENI
Unless Nigeria reduces importation, its aspiration to rank among the world’s 20 most developed countries by the year 2020 will be a mirage, Dr Mohammed Haruna has said.
SEC raises alarm over illegal capital market operator
The Securities and Exchange Commission, SEC, has raised an alarm over the activities of an illegal capital market operator — Global Growth and Income Limited — for soliciting deposits from members of the public for the purchase of shares on their behalf.
World Bank extends N32bn infrastructure loan to Nigeria
The World Bank has announced plans to contribute towards addressing the huge infrastructure deficit in Nigeria, with the provision of N32 billion ($200 million) as seed fund to set up a Financial Intermediary Loan (FIL) scheme under the Public Private Partnership (PPP) initiative.
Cashless policy driving fraudsters out of Lagos
The limit imposed on cash transactions under the cashless policy has prompted a mass movement of fraudsters moving out of Lagos to other parts of the country.
