CBN Proposes Increase in BDC Minimum Share Capital to N2 Billion for Tier 1 License. The Central Bank of Nigeria (CBN) is considering a substantial increase in the minimum share capital requirements for Bureau De Change (BDC) operators, aiming…
CBN Directs Customs: Use Form M Exchange Rate for Import Duty Calculation. In a recent directive, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to adopt the foreign exchange (FX) closing rate on the…
Gombe State Unearths 523 Ghost Workers Using Biometric Register for Civil Servants. The Gombe State government has made a significant breakthrough by uncovering 523 ghost workers through the implementation of a biometric verification register for civil servants across the…
Top 10 Fastest Growing Sectors Driving Nigeria’s Economy in 2023. In 2023, Nigeria’s economy saw notable growth, with the Gross Domestic Product (GDP) expanding by 2.74% throughout the year, as reported by the National Bureau of Statistics. Although this…
Standard Chartered Commences $1 Billion Share Buyback Program and Declares 21 Cents Dividend per Share. In a strategic move aimed at unlocking shareholder value, Standard Chartered has announced a $1 billion share buyback initiative, concurrent with CEO Bill Winters’…
Forex Trading Changes on FMDQ: Implementing Efficiency and Stability. In a bid to enhance efficiency and stability in Nigeria’s forex market, traders on the FMDQ, the official platform for forex trading, have initiated significant changes. These changes aim to…
World Food Program Temporarily Halts Local Food Purchases in Nigeria Awaiting Price Stabilization. The United Nations World Food Program (WFP) has announced a strategic pause in its procurement of local food supplies in Nigeria, citing the need for market…
Croatia Allocates €150,000 Investment to Aid Foreign Workers in Learning Croatian Language Zagreb, Croatia – In a bid to enhance the integration process for foreign workers, Zagreb, the capital city of Croatia, has unveiled plans to invest €150,000 towards Croatian…
Top 10 Countries Driving Foreign Investment into Nigeria in 2023. The influx of foreign capital into Nigeria witnessed a decline of 27% in 2023, as reported by the National Bureau of Statistics (NBS), dropping from $5.33 billion to $3.91…
Federal Government Set to Audit N22.7 Trillion Ways and Means Loan Approved Under Former President Buhari’s Administration. The Federal Government has taken steps to audit the N22.7 trillion Ways and Means loan endorsed during the tenure of former President…