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Economy

It’s always about the economy, stupid…

Economy

Nigeria’s Foreign Reserves Drop To $40.5 Billion

Wires Editor | The Trent -
A data from Central Bank of Nigeria has shown that Nigeria’s foreign reserves dropped from $41,765,381,999 to $40,500,856,853 between October 2, 2019, and October...
Economy

‘Nothing To Worry About’: Nigeria’s Finance Minister Is Comfortable With N25.7 Trillion Debt Profile

Doyin Ajayi | Sub-Editor -
Zainab Ahmed, the minister of finance, budget and national planning, has said that Nigeria's N25.7 trillion debt is not as worrisome as people think. The...
Economy

Crude Oil Theft In Nigeria Is Now Highest In The World – Report

Wires Editor | The Trent -
The highest ever reported crude oil theft in the world has taken place in Nigeria with the country recording approximately 400,000 barrels per day...
Economy

Federation Account Received N28.58 Trillion Between 2012 And 2016 – NEITI

Wires Editor | The Trent -
The Nigeria Extractive Industries Transparency Initiative, NEITI, on Sunday, September 22, 2019, disclosed that N28.58 trillion was remitted to the Federation Account between 2012...
Economy

Sinking Fund: FG Seeks Fresh $2.5 Billion Loan From World Bank

Wires Editor | The Trent -
Hafez Ghanem, the world bank’s vice-president for Africa, says the lender is in talks with the Nigerian government for a $2.5 billion concessionary loan. Ghanem...
Economy

Outrage As Nigeria’s Central Bank Imposes New Charges On Bank Deposits, Withdrawals

Wires Editor | The Trent -
The Central Bank of Nigeria has directed the strict implementation of Merchant Service Charge, which would impose more charges on all point of sale,...
Economy

Next Level: Federal Government Increases Value Added Tax Rate To 7.2%

Agency Reports -
The Federal Executive Council, FEC, has approved an increase in value added tax, VAT, rate from 5 percent to 7.2% percent Zainab Ahmed, the minister...
Economy

Central Bank Introduces Policy For Loan Defaulters To Lose Deposits In Other Banks

Salisu Sulaimon | Sub-Editor -
To increase retail credit and curb the rising cases of non-repayment of such facilities, bank customers, who take loans but default in paying back,...
Economy

Next Level: Buhari Gov’t To Introduce 5% Value-Added On Online Shopping

News Agency of Nigeria -
Mixed reactions have trailed the proposed plan by the Federal Government to slam a five per cent Value Added Tax, VAT, on goods bought...
Economy

Australia Considering To Ban Cash Transactions Over $10000 AUD

Wires Editor | The Trent -
The decision is currently being considered by the Australian lawmakers. This bill would ban any transactions amounting to AUD$10000 or more that are made...
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