BUSINESS

DMO offers N100bn “Sukuk” bonds at N1,000 per unit to fund roads construction

Daily Dispatch November 21, 2022

The Debt Management Office (DMO) offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on Monday on behalf of the Federal Government. It stated in Abuja that the offer is of 10-year tenor due for maturity in December 2032. The bonds are issued by FGN Roads Sukuk

BUSINESS

FIRS Opens 25 New Satellite Tax Offices Across Nigeria

Daily Dispatch November 17, 2022

The Federal Inland Revenue Service (FIRS), has announced the opening of 25 new Tax Offices across the country. These new Tax Offices, approved by the Muhammad Nami led management, are part of the Service’s goal to bring tax services nearer to the tax paying public while bringing FIRS nearer to the public. These new Tax […]

BUSINESS

Naira Redesign: CBN directs banks to open Saturdays

Daily Dispatch November 17, 2022

The Central Bank of Nigeria has instructed commercial banks in the country to work on Saturdays till January 31, 2023, to enable customers return existing naira notes. The CBN had announced plans to redesign the N200, N500, and N1,000 banknotes, and release the new notes by December 15, 2022. Speaking at the CBN fair in […]

BUSINESS

Currency Redesign: CBN commits to protecting Nigerians in unbanked, underserved, and rural areas

Daily Dispatch November 16, 2022

Further to its Press Release of October 26, 2022, on the above subject, the Central Bank of  Nigeria (CBN) is pleased to note the positive response of the banking public to the policy  through increased currency deposits across banks and other financial institutions.   The CBN remains committed to the seamless implementation of the initiative to […]

BUSINESS

Senate Okays Naira Redesign

Daily Dispatch November 16, 2022

The Senate has resolved to provide legislative support for the policy of the Central Bank of Nigeria (CBN) to redesign the naira. The resolution of the Red Chamber followed a motion on the policy by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Sani Uba. While the lawmakers supported the move […]

BUSINESS

Nigeria’s inflation hits 21.09% in October

Daily Dispatch November 15, 2022

Nigeria’s inflation rate jumped to a 17-year high of 21.09% in October 2022, representing a 0.32% point increase from 20.77% recorded last month. This is coming as food inflation in October 2022 increased to 23.72% from 18.34% in the corresponding Month last year. DAILY POST learnt this on Monday in a National Bureau of Statistics, […]