The Central Bank of Nigeria (CBN) has levied significant fines on nine Deposit Money Banks (DMBs) for failing to provide Naira notes through automated teller machines (ATMs) during the holiday season. In a statement, the apex bank underscored that this enforcement action aims to uphold its strict policy against cash […]
Day: January 16, 2025
The National Assembly has established a new revenue collection target of ₦25 trillion for the Federal Inland Revenue Service (FIRS) in 2025. This decision follows revelations by FIRS Chairman Zacch Adedeji that the agency exceeded its ₦19.4 trillion target for 2024, as set in the Appropriation Act. During a presentation […]
Nigeria’s inflation rate climbed to 34.80% in December 2024, marking a slight increase of 0.20 percentage points from November’s 34.60%, according to the latest National Bureau of Statistics (NBS) report. The rise, attributed to heightened festive season demand, highlights ongoing economic challenges, including currency depreciation, high energy costs, and supply […]
The Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have signed a Memorandum of Understanding (MoU) aimed at bolstering consumer protection and ensuring fair competition within Nigeria’s telecommunications sector. The agreement was formalized on January 14, 2025, during a ceremony held in Abuja. Dr. Aminu […]
The Nigerian Communications Commission (NCC) has announced its approval for Mobile Network Operators (MNOs) to disconnect Unstructured Supplementary Service Data (USSD) codes assigned to financial institutions with outstanding debts. The disconnection will take effect if the institutions fail to settle their overdue invoices by Monday, January 27, 2025. The Commission […]