The sum of N619.343 billion was shared as federation allocation for the month of December 2020 to the three tiers of government. This was disclosed at the Federation Accounts Allocation Committee at its virtual meeting. The Federal Government received N218.297bn; states received N178.28bn; Local Government councils got N131.792bn; while the oil-producing states received N31.827bn as […]Read More
The rising inflation on the sales of food products in Nigeria’s market also reflected on the cost of refilling cooking gas in the country. The National Bureau of Statistics reported that the average price of refilling a 5kg or 12kg liquefied petroleum gas (cooking gas) increased by 0.12 percent and 1.75 percent respectively In the […]Read More
The Federal Inland Revenue Service (FIRS) collected the sum of N4. 952 trillion in total tax revenue in the year 2020 as against previous years. Director Communications and Liaison, Mr Abdullahi Ahmad, said in a statement, that the figure represented approximately 98 per cent of the national tax target of N5.076 trillion set for the […]Read More
The Federal Government has said it mobilised a total amount of N226.85 BN from multiple sources in response to the COVID-19 pandemic between March and June 2020. This was contained in the report released by the Office of the Auditor-General of the Federation and signed by the Auditor-General for the Federation, Anthony Ayine. Ayine said […]Read More
The management of the Asset Management Corporation of Nigeria has called on sister agencies, the Federal government and stakeholders to support its drive to recover its current exposure. Having exhausted its ten years lifespan, AMCON outstandings still rolls over trillions of naira. AMCON was established to play an integral role in the recapitalisation of affected […]Read More
According to the latest Consumer Price Index report, released by the National Bureau of Statistics (NBS), Nigeria’s inflation rate increased by 15.75 percent (year-on-year) in December 2020. This is the highest rate recorded since 2017. The report showed that the latest figures are 0.86 percent points higher than the rate of 14.89 percent recorded in […]Read More
A report published by the National Bureau of Statistics revealed that the prices of food rose by 1.3 percent in December 2020. The closely watched index rose sharply by 19.56% in December compared to 18.3% recorded in the previous month. According to the report, “On a month-on-month basis, the food sub-index increased by 2.05% in […]Read More
The cost of servicing Nigeria’s public debt has increased by 88.8 percent in the third quarter of last year (Q3’20). The debt rose from N425.7 billion in Q2’20 to N803.69 billion. The amount was used to service the country’s debt stock of N32.22 trillion during the review period. According to the National Bureau of Statistics, the […]Read More
When the End SARs protest started gathering momentum, Twitter CEO Jack gave his financial support using bitcoin to end police brutality against Nigerian youths. Monetary donations came from within the country and outside the country, with over 62 million naira raised. The latest data released by the Central Bank of Nigeria showed that direct remittances […]Read More
Over the last five years, Nigeria has traded 60,215 bitcoins, valued at more than $566 million which, apart from the US, is the largest volume worldwide on Paxful, a leading peer-to-peer bitcoin marketplace. The data scraped from Coin Dance shows from the beginning of May 2015 to the middle of November this year, bitcoin trade […]Read More
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