Business

Forex: CBN injects $218.41m, CNY 18m into retail SMIS

The Central Bank of Nigeria, CBN, says it has injected the sum of $218.41million into the retail Secondary Market Intervention Sales, SMIS, and CNY 18million in continuation of its intervention in the inter-bank foreign exchange market on Friday, February 7, 2020.

CBN’s Director, Corporat [...]

FIRS moves to block $10 billion tax leaks

Effort is being made by the Federal Inland Revenue Service, FIRS, to block over $10 billion tax leak by multinational corporations.

Executive Chairman of FIRS, Mr. Muhammad Nami, said he has launched a comprehensive, ongoing tax collection reform process anchored on four cardinal pillars of reb [...]

Nigeria to sign MoU on economic cooperation with Italy

Nigeria and Italy have agreed to sign a Memorandum of Understanding, MoU, to strengthen trade and economic cooperation.

The move is part of efforts by the Nigerian and Italian Governments to strengthen ties on the areas of agro-allied industries, manufacturing, textile, leather, and telecommuni [...]

FMPR, DPR launch gas network code at NIPS 2020

As the 3rd edition of the Nigeria International Petroleum Summit, NIPS, begins in Abuja on Monday, February 10, the Federal Ministry of Petroleum Resources, FMPR, in conjunction with the Department of Petroleum Resources, DPR, are set to formally launch the National Gas Transportation Network Code.

Study estimates spread of coronavirus

New modelling research, published in The Lancet, estimates that up to 75,800 individuals in the Chinese city of Wuhan may have been infected with 2019 novel coronavirus (2019-nCoV) as of January 25, 2020.

Senior author Professor Gabriel Leung from the University of Hong Kong highlights: "N [...]

Kyari says NNPC is inclusive public institution

The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Malam Mele Kyari, says the corporation complies with federal laws on the inclusion of all segments of the Nigerian society in its recruitment policy.

Kyari, who stated this in Abuja during the visit of the Acting [...]

CBN predicts 2.35% economic growth in 2020

The Central Bank of Nigeria, CBN, says available data on key macroeconomic indicators show prospects of improved output growth for the economy in 2020, saying that Nigeria’s economy will grow at 2.35 per cent in 2020.

CBN Governor, Godwin Emefiele, said revised projections for 2020, show [...]

States IGR hit N986.29bn in 9 months- NBS

The National Bureau of Statistics, NBS, says the internally generated revenue, IGR, of the 36 states and Federal Capital Territory, FCT, rose to N986.29 billion from January to September 2019, compared to N692.49 billion recorded earlier.

NBS disclosed this in its Q3 2019 publication of interna [...]