News

The Central Bank of Nigeria has stopped the processing of Form M, a mandatory documentation process aimed to monitor goods brought into Nigeria, for the importation of maize or corn into the country. The CBN on Monday directed banks and those permitted to trade foreign exchange in the country to stop processing the document, which was created by the Federal Ministry of Finance and the financial regulator, to also enable the collection of import duties where applicable to the imported goods. Explaining the rationale behind this directive, the bank, in a circular signed by its director in charge of Trade and Exchange Department, O.S. Nnaji, noted that it was to boost local production of the farm product. According to CBN, the present global health pandemic, COVID-19, has caused many Nigerians to lose their jobs, putting a dent on the economy. It said the move was necessary to begin a process of economic recovery. New data from the Nigerian National Petroleum Corporation has shown that the country spent over ₦101 billion in the first three months of 2020 on petrol subsidy. The breakdown of the figure showed that the corporation spent ₦43.31 billion as subsidy on petrol in January, it incurred ...
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The Minister of Health, Osagie Ehanire has said that 50 ...
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There are indications that the Nigerian government is planning to ...
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Katsina has withdrawn from a peace deal it brokered with ...
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The Federal Executive Council has approved the refund of a ...
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The Department of Petroleum Resources has put on offer 57 ...
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The Nigerian Government has announced the relaxation of the restriction ...
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Nigerian manufacturers recorded an overall inventory of unsold products worth ...
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President Muhammadu Buhari on Thursday submitted a revised 2020 budget ...
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Amnesty International has accused the Nigerian military of unlawfully detaining ...
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The Lagos State Internal Revenue Service (LIRS) has extended the ...
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Annual inflation in Nigeria rose for the eighth straight month ...
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The CBN will not support the importation of items that ...
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The Senate has asked the FG to cancel the entire ...
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Nigeria's government says it will impose “precision” lockdown measures in ...
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The federal, states and local governments have received a total ...
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There is growing concern that the lockdown measures to fight ...
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The International Monetary Fund has projected that Nigeria and other ...
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Users of the Rivers and Onne Ports have complained about ...
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Nigeria has put in place policies to ensure foreign investors ...
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The latest Energy Information Administration data shows that the United ...
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The International Maritime Bureau said Nigeria loses an average of ...
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Nigeria will extend a ban on all flights by four ...
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The Nigerian government has promised the International Monetary Fund that ...
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Data from the National Bureau of Statistics show that 82.9 ...
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