Cardoso: Why CBN took market by surprise on interest rate
Bangkok, Thailand: The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has explained why the apex bank’s latest monetary policy decision took the market by surprise, saying the need to correct a faulty monetary policy transmission mechanism, alongside improving macroeconomic conditions, informed the move.
CBN Reforms: Banking sector leads as FDI surge raises investors’ confidence
Capital inflows to Nigeria hit $5.6 billion in the first quarter of 2025, the National Bureau of Statistics (NBS) data shows.
Cyber attack hits Customs, disrupts cargo clearance
•Normalcy has been restored, says Spokesman By Godwin Oritse A cyber attack on the Information Communication Technology (ICT) platform of the Nigeria Customs Service (NCS) has caused significant disruptions to cargo clearance operations at ports across the country. Licensed Customs agents are already counting their losses to demurrage charges on their consignments as a result of […]
NAICOM to withdraw insurance licenses over capitalization status
•Constitutes recapitalisation committee By Rosemary Iwunze Following the signing into law of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the National Insurance Commission, NAICOM, has been mandated to cancel registration of any insurance or reinsurance firm that fails to recapitalise within one year. The NIIRA 2025 stipulates that life insurance firms must have capital base of […]
Excise duty on SSBs impacting economy negatively – CIFIAN
By Cynthia Alo The Chartered Institute of Financial and Investment Analysts, Nigeria, CIFIAN, has called on the Federal Government to urgently align its Sugar-Sweetened Beverage (SSB) tax policy with broader public health objectives and Nigeria’s industrial development goals. The Institute warns that steep tax increases, if implemented without a coherent framework, could harm the country’s sugar […]
FG eyes 10m tonnes liquid steel production by 2030 — Tinubu
•To generate 500,000 jobs By Gabriel Ewepu ABUJA – IN a bid to revitalize and position the steel sector and make it a global attraction, President Bola Tinubu, Wednesday, disclosed that the Federal Government, FG, is targeting 10 million tonnes liquid steel production by 2030. Tinubu stated this in his keynote at the inaugural Two-day National […]
