finance

President Muhammadu Buhari has said the country is heading for another recession, the second one in four years. He made this known on Thursday, October 8, while presenting the 2021 budget to the National Assembly for approval. Read…

Federal Executive Council (FEC) has approved N13.09 trillion budget estimate for 2021 fiscal year. The fiscal document was approved at a meeting of the council presided over by President Muhammadu Buhari on Wednesday, September 30.…

A new report by New York Times has revealed that Donald Trump paid just 750 dollars in federal income tax in 2016, the year he won the US presidential election. The explosive investigative report which was released late Sunday stated…

Federal Government has apologised for misleading information asking all account holders in the country’s financial institutions to register their details again. MDB reports that the FG on Thursday directed individuals who…

Federal Government has ordered all persons with bank accounts across financial institutions and insurance firms to complete and submit self-certification forms. This was announced by the Federal Government in a social media statement on…

Despite the economic impact of the COVID-19 pandemic, Nigeria’s telecommunications and information services sectors remain the enablers of growth, with N2.3 trillion or 14.30 per cent Gross Domestic Product (GDP) contribution in the…

World’s richest person, Jeff Bezos’ net worth has soared to a record $200 billion after his company, Amazon stock edged up by 2% on Wednesday afternoon. Bezos’ net worth is now up by $4.9 billion, making the 56-year-old the world’s…

Presidency has said that the nation’s economy, despite contraction, performed better than that of the United States, United Kingdom, France, Germany and others in the second quarter of 2020. The National Bureau of Statistics (NBS)…

United Kingdom has plunged into its deepest recession on record in the first half of the year as the coronavirus lockdown saw the economy contract by more than a fifth between April and June. A recession is defined as two successive…

Central Bank of Nigeria has issued new directives to banks regarding all ATM, POS issues and web customer refunds. The apex bank in a statement on its verified Twitter page instructed all banks to resolve all outstanding issues…

President of African Development Bank (AfDB), Dr Akinwumi Adesina, has maintained his innocence on allegations of corruption and other forms of misconduct, levelled against him by a whistleblower. On May 5, the ethics committee of AfDB,…

American industrialist and founder/CEO of online retail company Amazon, Jeff Bezos’ has been trending on social media over a new report which states that he is set to become a trillionaire. Bezos, who is currently the world’s richest…

The Central Bank of Nigeria (CBN) has devalued the Naira exchange rate on the Investors and Exporters’ (I&E) window from the N366.7 to N380.20 to a dollar.  This is as a result of the drastic drop in crude oil price to below $30 per…