Browsing Tag
Finance
84 posts
Debate emerges over CBN ending direct funding for manufacturers
Industry experts are debating the impact of the Central Bank of Nigeria's withdrawal from direct manufacturing funding, with some calling for alternative support and others backing the move to refocus the bank's mandate.
Alert Microfinance Bank expands asset base to N50 billion despite economic hurdles
Alert Microfinance Bank has scaled its assets to N50 billion in three years, citing a strategic focus on financial inclusion and increased credit demand despite economic headwinds.
Kano Pension Board Pursues Court Order to Reclaim N5.3 Million Erroneous Transfer
The Kano State Pension Board is taking legal steps to recover over N5.3 million sent to the wrong account due to a clerical error during a bulk payment process.
NAICOM issues final reminder for July 31 insurance recapitalisation deadline
NAICOM Commissioner Olusegun Ayo Omosehin has urged insurance companies to meet the July 31 recapitalisation deadline, emphasizing that the requirement is essential for industry stability and service improvement.
President Tinubu mandates unified regulation for virtual assets and launches new oversight council
President Tinubu has issued an executive order to unify the regulation of virtual assets in Nigeria by creating a specialized council to improve oversight and protect the digital economy.
NGX Investors Lose N32 Billion Following Two-Day Rally
The Nigerian stock market retreated on Thursday, as investors lost N32 billion in capitalization despite a positive year-to-date performance.
Nigerian Government and UNDP Partner to Boost Sovereign Credit Rating
Nigeria has launched a collaborative effort with the UNDP to improve its sovereign credit rating, aiming to reduce borrowing costs and better align its credit profile with current economic reforms.
Senate Committee and NNPC Officials Refute Claims of ₦210 Trillion Missing from Financial Records
Bala Wunti and Senator Ibrahim Dankwambo have publicly stated that there is no proof of ₦210 trillion missing from NNPC accounts, attributing the confusion to a misinterpretation of financial data.
June 2026 Federation Account Revenue: Federal, State, and Local Governments Split N2.550 Trillion
Nigeria's three tiers of government shared N2.550 trillion in June 2026 revenue, with the federal, state, and local councils receiving specific allocations based on statutory and VAT earnings.
Senate Issues Warning to MDAs Over Ignoring Legislative Summons
The Senate Committee on Finance has warned government agencies of impending sanctions for ignoring summons, specifically ordering the Ogun-Osun River Basin Development Authority to reconcile its financial records within two weeks.