The Federal Competition and Consumer Protection Commission (FCCPC) has instructed MultiChoice Nigeria to maintain its current subscription rates while investigations are ongoing. It was previously reported that the Pay-TV provider planned to implement a 21% increase in subscription fees for its DStv and GOtv packages, set to take effect on March 1, 2025. In response…
The World Bank has confirmed its approval of $2.2 billion in new loans for the Nigerian Federal Government in 2025. As outlined in the World Bank’s project list, this funding will be distributed across six distinct initiatives. Among the allocations, $500 million is designated for the ‘Community Action for Resilience and Economic Stimulus Programme,’ which…
By Ajibola Olarinoye Is Exness a Legitimate Broker? When searching for a forex trading broker, every trader faces the important question of legal compliance. It’s essential to ensure that the broker adheres to the regulations applicable in your jurisdiction. Exness stands out as one of the few brokers that fulfill the legal requirements necessary…
The Arewa Consultative Forum (ACF) has presented a report to the National Assembly, detailing its perspectives and suggestions regarding the Tax Reform Bills. This report was prepared by a specialized committee of experts. In a statement released yesterday by its National Publicity Secretary, Tukur Muhammad-Baba, the ACF emphasized that “the proposed tax reforms will have…
Aliko Dangote, President of Dangote Industries Limited, has announced that his refinery possesses a substantial supply of Premium Motor Spirit (PMS) to adequately fulfill Nigeria’s local demand. The billionaire made this statement following a tour of the refinery by a delegation from the Zambian government, headed by Minister of Energy, Mr. Makozo Chikote. Dangote revealed…
Access Bank, one of Nigeria’s top commercial banks, has informed customers that they can now resume online transactions, withdraw cash from Automated Teller Machines (ATMs), and make Point of Sale (POS) payments using their ATM cards, following a service disruption that occurred on Sunday. The bank released this update in a statement after experiencing several…
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The Central Bank of Nigeria’s Monetary Policy Committee has decided to keep the country’s interest rate at 27.50 percent as of January, unchanged from November of the previous year, in light of a decrease in inflation. Additionally, the Cash Reserve Ratio (CRR) remains at 50 basis points, the liquidity ratio (LR) is set at 30…
The inflation rate fell to 24.48% in January 2025, as reported by the National Bureau of Statistics (NBS). Prince Adeyemi Adeniran, the Statistician of the Federation and CEO of NBS, shared this information during a briefing in Abuja on Tuesday. He also noted that food inflation stood at 26.08% year-on-year. Adeniran explained that the updated…
By Ajibola Olarinoye The International Monetary Fund (IMF) has reported that the banking sectors and their profitability are largely shielded from the impacts of inflation and rising interest rates in both advanced and emerging markets. In a report published over the weekend, titled “Rising Rates May Trigger Financial Instability, Complicating Fight Against Inflation,” the IMF…
