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#DailyChart: Nigeria’s Budgetary Allocation to Agriculture Over the Years
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Suspension Of Petrol Subsidy Removal: Reactions And Implications
On Monday, the minister for finance, budget and national planning, Zainab Ahmed, announced President Buhari’s decision to suspend the removal of petrol subsidy for 18 months. This move is assumed to be the government’s attempt to lessen the bite of economic hardship and skyrocketing inflation rates on its people. The approved 18-months suspension means that…
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Federal Government Finance And Expenditure In Nigeria
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CBN Grants Telecom Companies Banking License
The Central Bank of Nigeria (CBN) has granted telecommunication companies MTN and Airtel Payment Service Bank (PSB) licenses, according to separate statements by the leading companies. Airtel will now be vying for a share of the financial market through its subsidiary, SMARTCASH Payment Service Bank Limited (Smartcash), while MTN will conduct its PSB business via…
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Nigeria Becomes First African Country To Roll Out Digital Currency
Nigeria has joined the list of emerging markets betting on digital money to boost its participation in the formal financial system. The digital currency, called the eNaira, was officially launched today after the apex bank of Nigeria outlawed banks and financial institutions from transacting or operating in cryptocurrencies in February. Since the launch of the…