Nigerian banks have started charging customers for failed transactions, a move that could further compound economic hardship already assailing the masses. The charges were imposed following a CBN directive earlier this year that directed banks to penalize customers who initiate…
The Federal Government has apologised for Thursday’s “misleading tweets” directing account holders in the country’s financial institutions to register their details again. The government tweeted on Friday, saying the completion of self-certification forms was not for everyone. “We apologize for…
The collapse in oil prices linked to the coronavirus crisis has seen Nigeria’s revenues from crude dry up and left Africa’s largest economy more threatened than ever by its dependence on black gold. The crude market may have rebounded in…
The battering of the Nigerian economy by the COVID-19 pandemic has offered the country another golden opportunity to seriously consider the revisiting of the seemingly vexatious subject of political and economic restructuring, to guarantee the immediate and future viability of…
The Federal Government yesterday revised downward its earlier forecast of 2.9% growth for the nation’s economy this year, saying rather, the economy will contract by 3.4%. A news report by Reuters quoted the Director-General of the Budget Office, Ben Akabueze,…
Nigeria’s portfolio investment is expected to decline by at least $11.4 billion, as the c oronavirus disease eats deep into the fabric of the most populous black nation’s economy. This was disclosed in the International Monetary Fund report seen by…
The crash in oil prices and the economic fallout from the coronavirus together pose what could be an existential threat for Africa’s largest economy and biggest crude producer. Nigeria, a country of 200 million people, is slashing production faster than…
The World Bank has hinted of plans to commit a total of $510billion to boost Nigeria and other African countries’ economy within the next three years, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said. The…
Due to economic uncertainty arising from the Coronavirus pandemic, the Federal Government is seeking a total of $7.05billion (or N2.679 trillion at N380/$) from multilateral financial institutions and the Nigeria Sovereign Investment Authority (NSIA) to mitigate the impact of the…
Stock Market Gains N28bn in Two Weeks Shareholders of quoted firms on the floor of the Nigerian Stock Exchange recorded a gain of N28bn during the first two weeks of lockdown over the COVID-19 pandemic ravaging the country. Market watchers…