Reconsider 70% forex windfall tax, stakeholders tell FG

Opposition to the imposition of a 70 per cent foreign exchange windfall tax on commercial banks rose yesterday with stakeholders asking the federal government to reconsider the tax. They asked President Bola Ahmed Tinubu not to assent the amended Financial Bill passed by both the Senate and House of Representatives. It was reported that the […]

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Nationwide protest: SGF, ministers hold emergency meeting today

The Federal Government has scheduled an emergency meeting for Wednesday (today) morning in response to a planned nationwide protest slated for August 1. This comes after President Bola Tinubu pleaded with the organisers to shelve the protests and give his administration more time to execute people-oriented programmes. A circular shared on Tuesday by sources with […]

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JUST IN: Plane crashes on takeoff in Nepal with 19 aboard

A passenger plane carrying 19 people crashed during takeoff in Nepal’s capital Kathmandu on Wednesday morning, with fire crews working to douse the flaming wreckage. The Saurya Airlines plane crashed at around 11:15 am (0530 GMT), Nepal’s military said in a statement. “Rescue work is going on” with the army’s quick response team lending assistance, […]

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FG’s deficit spending falls 29% to N2.83trn in Q1’24

The Federal Government  recorded a   29 percent year-on-year (YoY) decline in deficit spending to N2.83 trillion deficit in the first quarter of 2024 (Q1’24)   from N3.99 trillion recorded in same period of last year, Q1’23. The Central Bank of Nigeria’s, CBN, disclosed this in its Statistical Bulletin for Q1’24. Vanguard analysis showed that fall in deficit […]

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NACCIMA, others kick as CBN hikes interest rate to 26.75%

The Central Bank of Nigeria, CBN yesterday intensified its efforts to curb rising inflation as it announced further hike in its benchmark interest rate, the Monetary Policy Rate, MPR to 26.75 per cent from 26.25 per cent, a decision faulted by the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, Nigeria Employers’ Consultative […]

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