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Nigeria to fully repay IMF loan by 2029

04.05.2025
Nigeria is on track to fully repay its International Monetary Fund Rapid Financing Instrument loan by 2029, according to findings by The PUNCH. The latest repayment schedule published by the Fund on its website showed that the country had secured approval for an emergency financial support of 2,454.50 million Special Drawing Rights, which translates to...
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Trump’s 14% tariff not affecting urea export – Dangote

04.05.2025
President of the Dangote Group, Aliko Dangote, said on Thursday he was “comfortable” with the effect of United States President Donald Trump’s tariffs on his company’s urea exports. He expressed confidence because rival exporter Algeria had been hit with even higher duties, potentially giving his products a competitive edge in the American market. The business...
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Tax reform bill will reshape economy – CITN

03.05.2025
The President of the Chartered Institute of Taxation of Nigeria, Mr Samuel Agbeluyi, has said that the recently drafted tax reform bill, now awaiting final assent from the National Assembly, has the power to transform Nigeria’s economic trajectory and reduce the nation’s over-reliance on volatile oil revenues. Agbeluyi said this at the Pre-Conference Presidential Chat...
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Fidelity Bank’s gross earnings hit N315bn

03.05.2025
Fidelity Bank Plc has recorded gross earnings of N315.4bn for the first quarter ended 31 March 2025, representing a 64.2 per cent increase from the N192.1bn reported in the corresponding period in 2024. According to the bank’s unaudited financial statements filed with the Nigerian Exchange Limited, the impressive performance was driven by significant growth in...
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ICSAN, SEC advocate mandatory CSR compliance for companies

03.05.2025
The Institute of Chartered Secretaries and Administrators of Nigeria and the Securities and Exchange Commission have called for the mandatory implementation of Corporate Social Responsibility by Nigerian businesses to improve corporate governance, promote sustainability, and contribute to the development of the Nigerian economy. In her address at the ICSAN National Conference held in Lagos recently,...
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CBN raises N804bn at open market auction

03.05.2025
The Central Bank of Nigeria has raised a total of N804.85bn at its Open Market Operations auction conducted on Monday, April 29, 2025, as investors continued to chase high-yield securities amid excess liquidity and elevated inflation expectations. Total subscriptions at the auction stood at N1.057tn, representing an oversubscription of 111 per cent. Although strong, it...
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ACCI advocates social justice, decent work

03.05.2025
The Abuja Chamber of Commerce and Industry has called on the government, businesses, and civil society to unite in promoting policies that guarantee decent employment, protect workers’ rights, and foster equitable growth across all sectors of the economy. In a message released to commemorate the 2025 International Workers’ Day, the chamber said that social justice...
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ABC Transport suffers N116m FX loss

03.05.2025
ABC Transport Plc reported a foreign exchange loss of N116.4m in the first quarter ended March 31, 2025, despite returning to profitability during the period under review. According to the company’s unaudited financial statement filed with the Nigerian Exchange Limited, the group posted a profit after tax of N223.2m, a strong rebound from the loss...
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Electricity subsidy spending balloons to N762bn

02.05.2025
Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the Nigerian Electricity Regulatory Commission showed that the subsidy on power was approximately N178bn in January. It rose to N194bn in February, N192bn in March, and N194bn in April. The Federal Government is therefore going to...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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