Withdrawal Limits: Emefiele Want To Punish Politicians, Says Fintiri
Governor Ahmadu Fintiri of Adamawa State has accused Godwin Emefiele, Central Bank of Nigeria (CBN) Governor of targeting the political class with the cash withdrawal limit policy. The planned policy of the CBN to limit daily cash withdrawal for individuals to N20,000 daily and N100,000 and N500,000 per week for individuals and corporate bodies respectively, has […]
Nigeria’s Public Debt Hits N44 Trillion || DMO
The Debt Management Office has revealed that Nigeria’s public debt rose to N44.6 trillion in the third quarter of this year (Q3 in 2022). This represents a 2.9 per cent quarter-on-quarter decline when compared to N42.84 trillion recorded in Q2 in 2022. The Debt Management Office, DMO, disclosed this today in a press statement on […]
Cash Withdrawal Limit Policy, Tax Expert Itemize it Implications on Individuals, MSMEs
A tax expert and the Africa Tax Leader at PwC, Mr Taiwo Oyedele, has said that the cash withdrawal limit announced by the Central Bank of Nigeria (CBN) on Tuesday will have tax implications for individuals as well as small and medium size businesses. The CBN had, in a letter to deposit money banks and […]
Only N200 Notes Will Be Load Into ATMs Machines – CBN Reveals
The new policy introduced by the Central Bank of Nigeria revealed that banks would only load N200 notes and lower denominations into their Automated Teller Machines. This is also as it said withdrawals from point of sale terminal shall be limited to N20,000 on a daily basis while the weekly withdrawal from banks (over the […]
Breaking: CBN Reduces Cash Withdrawals On Individuals And Companies
A new policy directive concerning over-the-counter cash withdrawals has been released by the Central Bank of Nigeria (CBN) today. Nairametrics reported that the new policy mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000, respectively, per week. […]
Alarm: 25 Million Nigerians To Face Food Crisis By August 2023 – FAO
About 25.3 million people will face food insecurity across Nigeria between June and August 2023, according to the United Nation’s Food and Agriculture Organisation. The FAO in a statement warned if actions are not taken to avert the crisis, 4.4 million people in Borno, Adamawa and Yobe States will be affected. The UN food agency […]
DMO Director Says Nigeria’s Debt Sustainability Is Now Alarming
THE Debt Management Office (DMO), which oversees the government’s debt issuance and management, has raised an alarm of the country’s debt sustainability being under threat. In a statement released by the agency, it was stated that while Nigeria’s loans may still be within acceptable range of the country’s economic size, the ability to sustainably meet […]
PMS: No single NNPC depot has Fuel as at now, says IPMAN
Ogun State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that no single Nigeria National Petroleum Corporation, NNPC, depot has fuel, blaming the current scarcity on the cooperation and Federal Government. IPMAN, in a statement signed by the Mosinmi Depot Chairman, Otunba Femi Adelaja, and made available to newsmen in Abeokuta, […]
FG disbursed N1.98tn to states as derivative funds – Minister
The Federal Government has disbursed a total of N1.98 trillion as share of the 13% oil derivation backlog paid to oil-producing states. This was disclosed by the Minister of Finance, Budget, and National budget Zainab Ahmed, on Thursday at the sixth edition of the Major General Muhammadu Buhari (retd.) administration scorecard. She stated that the […]
State Govt Are To Be Blame For Rising Poverty || FG Says
The Federal Government of Nigeria has talked about the rising rate of poverty in the country. The FG blamed the high poverty rate in the country on the failure of the State Governments to contribute their quota of development responsibilities to the grassroots where the major production activities take place. Minister of State for Budget […]