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Economy

90 Results / Page 1 of 10

Economy

We Can Withstand Shocks From Trade War – CBN

By Oluwakemi Kindness The Central Bank of Nigeria, CBN, says it is well prepared to handle the pressure and shocks from the ongoing trade wars between the U.S and China. The Apex bank explained that it is reviewing emerging scenarios to enable it take diligent actions to weather any form of storm that may arise for the country. The Director, Banking Supervision of the CBN, Dr. Olubukola Akinwumi, stated this […]

todayApril 14, 2025 16 21

Economy

NCS Issues 1st PAAR Under The B’Odogwu Management System

Oluwakemi Kindness The Nigeria Customs Service (NCS) has announced the successful issuance of the first Pre-Arrival Assessment Report (PAAR) under the B’Odogwu (Unified Customs Management System). It marks a significant milestone in the Service’s commitment to technology-driven trade reforms. This achievement follows the recent strategic engagement between the Comptroller-General of Customs, Adewale Adeniyi, and the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, where both institutions reaffirmed their commitment […]

todayApril 6, 2025 13 5

Economy

Customs Debunks Extension Of Comptroller General’s Tenure

Oluwakemi Kindness The Nigeria Customs Service (NCS) has debunk reports claiming an extension of the tenure of the Comptroller-General of Customs, Bashir Adewale Adeniyi. The NCS in a statement on Tuesday night by it spokesperson, Abdullahi Maiwada, categorically states that this information is inaccurate and misleading. The statement says for the avoidance of doubt, appointments and tenure extensions for the position of Comptroller-General of Customs are made solely at the […]

todayApril 1, 2025 9 6

Economy

CBN Reports Net Reserve Of $23.11bn For 2024

Oluwakemi Kindness   The Central Bank of Nigeria (CBN) on Tuesday reports a substantial improvement in its Net Foreign Exchange Reserve (NFER) position as of the end of 2024. The NFER stands at $23.11 billion, the highest level in over three years, marking ab increase from $3.99 billion at year-end 2023, $8.19 billion in 2022, and $14.59 billion in 2021. This reflects a substantial improvement in the country’s external liquidity, […]

todayApril 1, 2025 12 4

Economy

PenCom Unveils New System To End Cases Of Uncredited Pension Contributions

Oluwakemi Kindness   The National Pension Commission (PenCom) has officially launched its new Pension Contribution Remittance System, a platform designed to optimize the process of remitting pension contributions into employees' Retirement Savings Accounts (RSAs). This system, developed in collaboration with the Pension Operators’ Association of Nigeria (PenOp), has deployed approved Payment Solution Service Providers (PSSPs) to enhance accuracy, efficiency, and transparency in pension contributions. The introduction of the Pension Contribution […]

todayMarch 27, 2025 13 4 6

Economy

PenCom Tasks States On Implementation of CPS

Oluwakemi Kindness   The National Pension Commission (PenCom) has called on all states and local governments to implement the Contributory Pension Scheme (CPS) for a pension-secure Nigeria. This is as the Commission urges Akwa Ibom, Borno, Kwara, Plateau, Cross River, and Yobe States to commence implementation of the Contributory Pension Scheme CPS in their states. PenCom also urges Abia, Adamawa, Bauchi, Bayelsa, Ebonyi, Enugu, Gombe, Imo, Kano, Katsina, Kebbi, Kogi, […]

todayMarch 27, 2025 12 17 4

Economy

Customs Exempts pharmaceutical products From Import Duty, VAT

Oluwakemi Kindness The Nigeria Customs Service (NCS) on Wednesday announced the exemption of import duty and Value Added Tax (VAT) from critical raw materials essential for the production of pharmaceutical products for a period of two years. This exemption according to Customs covers Active Pharmaceutical Ingredients (APIs), excipients, and other vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials. This […]

todayMarch 26, 2025 9 8

Economy

Ramadan: Customs Boss Urges Personnel to Elevate Community Spirit

Oluwakemi Kindness The Comptroller-General of Customs (CGC), Adewale Adeniyi, has called on officers and stakeholders to embrace the spirit of service, discipline, and charity as essential values during the holy month of Ramadan and beyond. He made this known during the Iftar by Trade Modernisation Project (TMP) Limited held at the Nigeria Customs Service (NCS) Headquarters in Maitama, Abuja. According to a statement by Customs spokesperson Abdullahi Maiwada, CGC Adeniyi […]

todayMarch 24, 2025 13 4

Economy

FAAC; Federal, State and LGCs Shares N1.678trn

Oluwakemi Kindness The Federal Government, States and the Local Government Councils have shared a total sum of N1.678 trillion as February 2025 Federation Account Revenue. The revenue was shared at the March 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The meeting was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi. The […]

todayMarch 24, 2025 8 7 4

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