Banking

CBN raised N1.13 trillion in government bills in the second quarter.

The Central Bank of Nigeria plans to raise N1.13tn via treasury bills for the second quarter of 2023. This was according to the latest Nigerian Treasury Bill Issue Programme for the Second Quarter 2023 available on the bank’s website. This is a significant increase from N926bn raised in the second quarter of 2022. The bills are divided into three tenors of 91-days, 182-days, and 364-days with a…
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EconomyMarket

Indirect taxes rise to N3tn – NBS

The indirect tax burden on Nigerians rose by 18.88 per cent to N3.03tn in 2022 amid an economic downturn and rising inflation. According to the National Bureau of Statistics, Nigerians paid N3.03tn as indirect tax in 2022, an 18.88 per cent increase from the N2.55tn that was…
Banking

Chike-Obi is looking for help with a margin loan.

The Chairman of Fidelity Bank Plc, Mr Mustafa Chike-Obi, has said that securities and margin lending can boost the volume of trade in the Nigerian capital market. A statement said he spoke when he was invested as a fellow of the Chartered Institute of Stockbrokers. Chike-Obi, who is the pioneer chief executive officer of Asset Management Corporation of Nigeria, also pledged to work with the…
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Banking

Wema Bank is committed to supporting the growth of women.

Wema Bank says it is committed to providing women with the knowledge they need to succeed in their careers and businesses. The bank said it is preparing to celebrate International Women’s Day in 2023 by stimulating discussion about women’s economic growth. The…
Economy

Airlines urge to expand insurance coverage

Some experts have decried the low level of insurance penetration in the country and called on industry stakeholders to tailor products to the different regions in order to boost its patronage. They spoke at the symposium organised by the UNILAG Actuarial Science and…
Banking

Non-oil exports reached $75 million in 2 months - report

Earnings from non-oil export in October and November rose to $75m, figures obtained from the Central Bank of Nigeria have revealed. The CBN stated in its November economic report that non-oil export earnings rose by 16.9 per cent to $0.40bn, from $0.35bn in October. It stated, “Non-oil export earnings rose by 16.9 per cent to $0.40bn, from $0.35bn in October, due, largely to sustained favourable…
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Aviation

The NCAA praised the fund's safety record by Dana.

The Nigerian Civil Aviation Authority has commended Dana Air for grounding its airplanes for proper maintenance checks. The Director General of NCAA, Captain Musa Nuhu, disclosed this exclusively to our correspondent in Abuja. According to Nuhu, Dana Air grounded all its…
Economy

El-Rufai warned against challenging the election results.

The Kaduna State Government has warned against any form of protests over the Saturday’s presidential and National Assembly elections results in the state. According to the Commissioner for Internal Security and Home Affairs, Samuel Aruwan, the announcement of result remained the exclusive preserve of the Independent National Electoral Commission, reminding residents that declaring unofficial…
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