Author: Aishat Olalere

The Director of Business Development/CEO of Kairos Hof Ltd, Mr Ojehomon Anetor said in one of his statements that the housing challenge in the country has compelled Nigerians to scale down the number of children they give birth to. He emphasized that Nigerians no longer want to have multiple children due to difficulties in securing housing in the country. He stated, “The stress and difficulties in securing housing had made so many couples reduce the number of children they plan to have, a situation different during the period of our parents and great-grandparents.” “From our experience of what housing looks…

Federal Inland Revenue Service have reached a decision to go after skit makers that have refused to perform their civil responsibility of paying taxes. some of which includes Mr. Macaroni and Taooma. The agency has deemed it fit to set up committees to investigate and explain to the skit makers and others generating revenue from the social media reasons why it is compulsory to pay tax from their income. The Special Adviser on Media to the chairman of the FIRS, Dare Adekambi, made this known to newsmen, revealing that social media content creators and influencers constituted a major block of tax…

S&P Global said in its latest rating note that the sharp devaluation of the Nigerian naira will impact Deposit money banks (DMB) position in the first quarter of 2024. With the ew FX guideline, the rating firm predict that DMBs will start to wind down their foreign currency loans to further reduce risks. The Central Bank of Nigeria (CBN) asked banks to sell down their foreign currency holdings as authorities seek to upturn the fortune of the naira, its weak local currency. The naira has been on a decline over the years due to poor economic policies and overdependent on…

The Chief Executive Officer, Landmark Group, Paul Onwuanibe states the effect of beach dredging. It state that the beach dredge will have a negative impact on the economy as it will leads to closure of beaches . Stating further, he said that the beach dredging will lead to loss of jobs by the workers in the beach which will increase the state of unemployment in the country. According to Onwuanibe, beach dredging is not merely an environmental concern, but it also has economic repercussions that could reverberate across various sectors and impact negatively on revenue generation, and employment. Beach dredging…

On Monday, 5th of January, the CBN Governor, Dr Olayemi Cardoso said during the interview with the Arise News that about $2.4 billion of the $7 billion foreign exchange blocklog he met when he got into the office were from Non existing entities requests without import documents among other infractions. He said, “Approximately, $7bn was what we were told that the obligations were, and we looked at this and commenced the process of paying with the meagre resources as we had them. Settling some which believed were valid and due for payment. This wasn’t something we could just do in…

MTN Nigeria Plc Share price slightly increased ahead of it Fourth quarter of 2023 earnings released. The telecom share price moved downward to N290 as of Friday close, from N293.90 at the beginning of the week despite sustained rally. According to the data gathered at the Nigeria Stock Exchange, MTN plc is currently ranked as third most valuable in the local bourse. MTN market valuation settled at N6.088 trillion with over 20.995 billion of shares. MTN telecom companies market valuation and Dangote Cement plc market valuation are almost equal after strong buying in the cement name. The telecom company share…

The Central Bank of Nigeria governor, Dr Olayemi Cardoso, said at the interview with Arise News on Monday that the CBN’s planned relocation of departments and personnel to other branches was a response to the current “overpopulation” at the headquarters He said the move is to align with the bank’s structure in order to achieve the bank objective and to be able to carry out it functions and to also ensure a more even geographical spread of talent. Cardoso said, “I think there’s been an attempt to sensationalize what is a normal process for any vibrant entity like a central…

On Thursday, a committee of the organization of Petroleum Exporting Countries (OPEC) ministers proposed no changes to the group’s oil output. However, the Joint Ministerial Monitoring Committee (JMMC) can call for a full OPEC+ meeting or make recommendations on policy. OPEC said in a statement issued after the meeting that “The JMMC reviewed the crude oil production data for the months of November and December 2023 and noted the high conformity for participating OPEC and non-OPEC countries,” Leading Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, led by Russia, known as OPEC+, met online to discuss…

There is a bullish run in the Nigeria Exchange Limited, NGX. Investors in the capital market are waiting for the large flow of companies result for the financial year in 2023 to take more informed position. As a result of the run in the capital market, the Nigerian Exchange limited created N1.12 trillion gain Week-on-Week for the investors last week. According to the NGX market capitalization Analysis, it shows that the total value of investment on the Exchange closed at N57.158 trillion on Friday from N56.038 trillion the previous week. According to the year to day (YtD) and month to…

The President of the Association of Bureau De Change of Nigeria, Aminu Gwadebe, has urged the Central Bank of Nigeria to tap into the strengths and network of BDC operators to strengthen the naira. Speaking exclusively, Gwadebe said that given the enormity of the forex challenges, the apex bank needed to allow the BDCs play their role in the economy. He said, “We understand that it is a national issue. That it is a national epidemic because we have poor reserves. But with the new reforms taking place on the supply side, we (hope) we will be welcome on board.…