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PenCom: Only 15,418 Compliant Firms Can Do FG’s Businesses
Between January 4 and May 10 2020, a total of 15,418 organisations got the National Pension Commission’s clearance to do businesses of Ministries, Departments and Agencies. This was obtained in a data report by the commission titled ‘Schedule of employers issued with a certificate of compliance with provisions of the PRA 2014 as of 10…
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E-payment Transactions In Q1 2021 Hit N66trn
The financial system of Nigeria has recorded a surge in the value of electronic payment transactions to N65.6 trillion in the first quarter of the year (Q1’21). This indicates an increase of 82 percent Year-on-Year, YoY, from N36.02 trillion in the corresponding period of 2020 (Q1’2020). Industry analysts have indicated that the development is connected…
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Stock Market: Investors Withdraw N339.06bn In 3 Months
Foreign and domestic investors pulled out a total of N339.06bn from the Nigerian stock market in the first three months of the year 2021. According to data from the Nigerian Exchange Limited, the foreign portfolio investors sold Nigerian stocks worth N90.12bn in the first quarter while domestic investors withdrew N248.94bn from the market. The foreign…
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CBN: Nigeria Fiscal Deficit N485.51bn In January 2021
The Federal Government of Nigeria has recorded a N485.51bn fiscal deficit in January 2021 according to statistics obtained from the Central Bank of Nigeria. According to the monthly economic report for January released by the apex bank, the low revenue performance in January was due to the decline in non-oil receipts. This is following the…
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France To Support Metro Project In Ivory Coast
France has showed its support for the construction of the Abidjan metro and the reconstruction site of the Felix Houphouet Boigny bridge in Ivory Coast. The metro project is speculated to cost about 1.36 billion euros and would be led by French-owned umbrella company Bouygues. However, Bruno Le Maire, French Economy Minister has said that…
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Customs Revenue Hits N466.1billion In 3 Months
The Nigeria Customs Service has generated N466.1 billion revenue between January and March, the first quarter of 2021. The statistics obtained from the office of the Public Relations Officer of the service, Mr Joseph Attah, yesterday, showed that the revenue was generated within three months. The data indicated that the NCS realized the highest revenue…
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Average Transport Fare Increased In March
The National Bureau of Statistics has published that in its Transport Fare Watch for March 2021, an average Nigerian paid more fare for transportation. NBS report covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single…
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NERC: Gencos Recieved N81.14bn Payment Assurance In 2020
The Nigerian Electricity Regulatory Commission has said power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020. NERC disclosed this in its latest Key Operational and Financial Data of the Nigerian Electricity Supply Industry: 2019-2020. NBET disburses payment assurance to power generators to enable the Gencos to meet…
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MFBs Grew Loan To N547bn In 2020
The National Bureau of Statistics has reported that Microfinance Banks in Nigeria recorded an 82 percent boost in lending in 2020. This is rising from N300.2 billion lending in 2019 to N546.6bn. According to NBS, microfinance loans to the private sector was N250bn in 2018, but has doubled in two years. The report attributed this…
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FG, States, LGs Share N681.33bn In March
The Federation Accounts Allocation Committee has shared a total of N681.33bn as March 2021 federation revenue to the federal, states and local governments including all relevant agencies in the country. During this month a sum of N154bn was transferred to the non-oil revenue savings and the balance in the Excess Crude Account was $72.413m. These…