The African Export-Import Bank (Afreximbank) has officially terminated its credit rating relationship with Fitch Ratings. The bank in a statement said this decision followed a review of the relationship, and its firm belief that the credit rating exercise no longer
The Infrastructure Concession Regulatory Commission (ICRC) has hailed the signing of the concession agreement for the Akanu Ibiam International Airport, describing it as a significant milestone in the Federal Government’s ongoing efforts to deploy Public-Private Partnerships (PPPs) to modernise critical
“Frontier market” economies—a cluster of mostly middle-income economies regarded as the proving ground for the next generation of economic superstars—have largely failed to live up to their potential in recent decades, a new World Bank study has found. On average,
The Nigeria Revenue Service (NRS) has denounced misinformation on the imposition of Value-Added Tax (VAT) on banking services, including electronic money transfer, fees and commission, describing the reports as incorrect and misleading. The service in a statement said VAT has
The Budget Office of the Federation has categorically rejected recent claims alleging that the North East Development Commission (NEDC) operates a ₦246 billion “salaries budget.” This assertion is misleading, inaccurate, and rooted in a fundamental misunderstanding of the Federal Government
The Federal Government of Nigeria has welcomed the decision of the European Commission to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). This was confirmed in a
The International Monetary Fund say it welcomes the December Consumer Price Index (CPI) inflation figures released by the Nigerian Bureau of Statistics (NBS), which show an easing of inflation. Laraba Bonet, Office Manager, Resident Representation of Nigeria in a statement
President Bola Tinubu this Tuesday announced that Nigeria will co-host Investopia with the United Arab Emirates (UAE) in Lagos in February, an initiative aimed at attracting global investors and accelerating sustainable investment inflows. Bayo Onanuga, Special Adviser to the President
The global economy is proving more resilient than anticipated despite persistent trade tensions and policy uncertainty, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to remain broadly steady over the next two years, easing
The Nigerian Deposit Insurance Corporation NDIC has declared a second liquidation dividend of ₦24.3 billion to depositors of the defunct Heritage Bank with blanches above the insured 5 million Naira insured limit at the date of closure. NDIC says the
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