The Nigeria Civil Aviation Authority (NCAA) said it’s aware of the diversion of United Nigeria Airlines flight UN542 Lagos-Anambra to Asaba which occurred on 30th December, 2023. According to the agency, while flight diversions are not uncommon in air transportation business, NCAA is investigating this incident and wishes to assure the general public of […]
The national assembly on Saturday approved President Bola Tinubu’s request for the securitisation of outstanding N7.3 trillion ways and means debt balance. Ways and Means is a loan facility through which the Central Bank of Nigeria (CBN) provides short-term financing to cover the government’s budget shortfalls. Also, securitisation is the practice of pooling together […]
The naira, on Friday, gained against the dollar at the official foreign exchange (FX) market, known as Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ Securities, a platform that oversees foreign exchange trading in Nigeria, showed naira appreciated by 13.03 percent or N135.89 to N907.11/$ — from N1,043 per dollar on Thursday. According […]
The Nigerian Investment Promotion Commission on Friday, said it approved tax holidays for 34 companies seeking tax incentives and waivers under the Industrial Development Income Tax Act in 2023. This was disclosed by the Head of incentives administration, to Lovina Kayode, during an end-of-the-year press briefing organised by the commission in Abuja. She said […]
Foreign investors snubbed 27 states as the value of capital importation into Nigeria fell by 34 percent to $2.82 billion in the first nine months of 2023, from $4.27 billion in the same period last year. The National Bureau of Statistics (NBS) disclosed this in its latest capital importation report for the third quarter […]
Naira depreciated to the worst low in recent times exchanging at N1,043.09 to the dollar at the official foreign exchange market on Thursday. This is against N872.59 /$ recorded on Wednesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to dealers, the rate was stronger than N885.88/$ quoted on Friday before the Christmas […]
Analysts have predicted further depreciation in Nigeria’s Naira in 2024, according to Bloomberg reports. The naira dipped 55% this year to 1,043 per dollar as of Thursday, December 28 making it the world’s worst performer after the Lebanese pound and the Argentine peso among 151 currencies tracked by global financial media/analysis brand. And that’s […]
The Corporate Affairs Commission (CAC) has announced an extension of the deadline for applying penalties on companies who have failed to submit their annual returns, from January 1, 2024, to April 1, 2024. The commission disclosed this in a statement on Thursday. The extension provides a three-month window for firms to file their annual […]
The naira yesterday depreciated to N1,230 per dollar in the parallel market from N1, 225 per dollar last week Friday. However, the naira appreciated to N872.59 per dollar in the official Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N872.59 per dollar from N885.88 […]
A report by De.FI, the security firm that runs the REKT database, has disclosed that hackers stole roughly $2 billion in cryptocurrencies in 2023. It is, however, a substantial decrease from an all-time-record of around $3.8 billion in 2022. The report listed top crypto heists recorded this year including the hack against Euler Finance, […]
