Tag: #NigeriaFinance
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FAAC SHARES N2.09 TRILLION OCTOBER REVENUE, NIGERIANS DEMAND TRANSPARENCY AND IMPACT
The Federation Account Allocation Committee (FAAC) distributed N2.094 trillion among Nigeria’s federal, state, and local governments from October 2025 revenue. The announcement by Accountant-General Shamsudeen Ogunjimi came after the November FAAC meeting, with funds from statutory revenue, VAT, and the Electronic Money Transfer Levy (EMTL). Breakdown: Federal Government received N758.405 billion, States N689.120 billion, Local…
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NIGERIAN SENATE APPROVES PRESIDENT TINUBU’S N1.15 TRILLION DOMESTIC LOAN FOR 2025 BUDGET DEFICIT
The Nigerian Senate on Wednesday greenlit President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the deficit in the 2025 budget. This approval came after the Senate Committee on Local and Foreign Debts, led by Vice Chairman Sen. Manu Haruna, presented a detailed report outlining the need for the…
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NIGERIA APPOINTS DR JOHN NWABUEZE AS TAX OMBUDSMAN TO BOOST TRANSPARENCY AND DISPUTE RESOLUTION
President Bola Tinubu has officially appointed Dr. John Nwabueze as Nigeria’s Tax Ombudsman, a key role established under the Joint Revenue Board of Nigeria (Establishment) Act, 2025. The appointment highlights the government’s commitment to reforming Nigeria’s tax and revenue system with fairness and transparency, confirmed by Presidential Spokesperson Bayo Onanuga. Dr. Nwabueze brings extensive expertise…
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BANK OF NIGERIA LAUNCHES VERVE FLASH PROMO WITH FREE CARDS
Bank of Nigeria Ltd. is rewarding customers with free Verve cards through its new Verve Flash Promo. From October 6, 2025, to January 30, 2026, 131 customers daily with expired ATM cards can get free Verve cards at branches nationwide. The promo celebrates FirstBank’s 131 years of trust and innovation, aiming to boost secure, convenient…
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EFCC INVESTIGATOR TESTIFIES THAT EMEFIELE’S NAIRA REDESIGN CAUSED HARDSHIP FOR NIGERIANS
During the ongoing trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, EFCC investigator Chinelo Eneanya testified that the bank’s naira notes redesign in 2022 led to significant economic hardship for Nigerians. She told Abuja high court that video evidence from the investigation showed widespread frustration and difficulty meeting daily needs due to…
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FCCPC APPLAUDS CBN DRAFT GUIDELINES FOR QUICK ATM FAILED TRANSACTION REFUNDS
The Federal Competition and Consumer Protection Commission (FCCPC) has warmly welcomed the Central Bank of Nigeria’s (CBN) draft guidelines that require banks to refund customers for failed ATM transactions within 48 hours. FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, revealed this in a statement following a recent Consumer Complaints Data Report. FCCPC’s Executive Vice Chairman,…
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NIGERIA’S FINANCE MINISTER WALÈ EDUN GRAPPLES WITH STROKE, FUTURE UNCERTAIN
When a nation’s steady hand falters, the weight of uncertainty settles in. Nigeria’s Finance Minister, Wale Edun, a chief architect of economic reform, has been flown abroad after suffering a severe stroke. The country holds its breath as questions loom over the path ahead. Nigeria’s Finance Minister, Wale Edun, has been urgently flown abroad for…
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SENATE COMMITTEE SAYS NNPCL RESPONDED TO 19 AUDIT QUERIES, REVIEW PENDING
Senate Public Accounts Chair, Sen. Aliyu Wadada, confirms NNPCL has replied to all 19 audit questions covering 2017-2023, including concerns over a staggering N210 trillion yet to be accounted for. The committee is set to review the responses thoroughly before making any public declarations. Wadada also flagged issues beyond finances, such as opaque production sharing…
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NIGERIAN STOCK MARKET CLOSES WEEK LOWER AMID PROFIT-TAKING, WEEKS AFTER BULLISH RUN
The Nigerian stock market ended the week down by 0.56%, with market capitalisation dropping by N516 billion to N92.214 trillion. The All-Share Index fell by 815.80 points to 145,754.91, pressured mainly by profit-taking in stocks like Abbey Mortgage Bank, Custodian Investment, and Deap Capital Management. Despite the dip, market breadth was positive with 42 gainers,…
