President Bola Tinubu has set a N1500/dollar target in the 2025 Appropriation Bill presented to the joint session of the National Assembly on Wednesday in Abuja. The President said the objective was to enable the Federal Government to ensure the smooth implementation of the 2025 budget reports DAY which marks a reduction of about N200…
President Bola Tinubu on Wednesday presented the N47.90 trillion budget estimates for 2025, assuring the public that his administration would continue to stimulate the country’s economy through targeted fiscal stimulus packages, public expenditures, and non-inflationary spending. During the formal presentation of the 2025 budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” to a joint…
Amid the scarcity of cash in Nigeria, a Kogi State-born political activist and immediate past House of Representative candidate for Dekina/Bassa federal constituency, Usman Okai Austin, on Tuesday accused some Senior staff of commercial banks of selling money to Point of Sales, PoS, operators. Okai said it is now clear that PoS terminals are active…
The Nigerian Exchange regulator, NGX has issued 37 regulatory actions against NGX, about 16 years after NGX was regulated. This is according to a recent report by BrokerTraX, a compliance body for broker license holders. The report showed that from 2011 to 2023, 3,792 violations were documented, including 193 rule violations by securities companies. The…
International lender, the World Bank, is expected to meet and approve a $500 million loan to Nigeria on Friday to boost rural access and agricultural marketing in the country. This is according to information received on Thursday from the Washington-based institution. World Bank a decision on the loan application is expected by the Nigerian Government…
The House of Representatives has expressed concerns over scarcity of cash across the country. It was then that the Green House of the National Assembly asked the Central Bank of Nigeria, CBN, to remedy the situation which has imposed considerable hardship on Nigerians. In one move Filed under Issues of Urgent Public Importance by Uguru…
The Naira is back to appreciation against the dollar at the official foreign exchange market 24 hours after it depreciated. Central Bank of Nigeria exchange rate data for Tuesday showed that the Naira strengthened to N1 525 to the dollar from N1 538.50 traded on Monday. This represents a gain of N13.5 to the dollar…
Muhammed of Information Mohammad Malagi has urged the Nigerian Institute of Public Relations (NIPR) to educate Nigerians on the benefits accruing from the tax reform bill. He made the call on Saturday during the Kaduna state section of the NIPR Annual Conference / Annual General Meeting and Awards 2024 with the theme “The Role of…
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has explained the essence of the tax reform bills proposed by President Bola Tinubu. Oyedele said the essence of the tax reform bill is not to generate revenue. Speaking during the Tax Reform Bills Town Hall meeting on Monday, he said…
On Thursday, Tinubu’s proposed tax reform bills made significant progress, successfully passing their Second Reading in the Senate despite some lawmakers’ objections. Senate Leader Michael Opeyemi Bamidele, who led the debate on the Executive Bill, characterized the legislation as a crucial step towards overhauling Nigeria’s tax system. He stated, “These bills are designed to simplify…
