Nigeria in 1min: Economic, Business and Financial Headlines - 261219


Thursday, December 26, 2019 / 7:00 AM / By News Aggregator / Header Image Credit:


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Merchants Prohibited From Assessing Any Duty or Costs Characterised As Stamp Duty On Consumers - In recent times, there has been significant contention with respect to merchant imposed N50 stamp duty assessments on consumers for transactions. This imposed fee is supposedly a pass through for onward transmission as a government mandated surcharge. Source FCCPC Nigeria Read More 

FG Reverses Decision To Sell Oil Asset Stake - For the second year in a row, the Federal Government has failed to carry out its planned sale of some of its stake in joint venture oil assets. The Federal Government did not include the sale of the JV oil asset stakes as a source of expected revenue in the highlights of the 2020 budget presented by the Minister of Finance, Budget and National Planning. Source Punch Read More 

World Bank Warns CBN Against Support For Undercapitalised Banks - The World Bank has warned that the assets of Nigerian commercial banks may deteriorate if the Central Bank of Nigeria continues to support undercapitalised banks. The World Bank gave the warning in its latest Nigeria Economic Update. Source Punch Read More


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SEC Approves New Rules On Derivatives Trading and Registration Of Fixed Income Existing Securities - Pursuant to the Investments & Securities Act (ISA) 2007, the Commission has reviewed and approved the following new Rules and Amendments to its existing Rules and Regulations as follows. Source SEC Nigeria Read More


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Banks Record N97.32tn Instant, PoS Payments In 11 Months - Banks' customers carried out a total of N97.32tn worth of financial transactions on the instant payment and Point of Sale platform between January and November this year, the latest report from the Nigerian Inter-Bank Settlement Scheme has shown. Source Punch Read More 

Reduction Of Electronic Fees'll Boost Economy, Says Minister - Minister of Communications and Digital Economy, Dr Isa Pantami, has hailed the reduction of the cost of electronic cash transactions as well as Automated Teller Machine card maintenance fees by the Central Bank of Nigeria. The minister said the development would contribute to the actualisation of a digital economy. Source Punch Read More 

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Border Closure: OPS Harps On Importance Of Policy Implementation - Members of the Organised Private Sector (OPS) have described the ongoing border closure as a temporary solution to a long term problem, noting that policy measures and proper implementation is necessary and more effective. Source Vanguard Read More 

Record Online Sales Give U.S. Holiday Shopping Season A Boost - U.S. shoppers spent more online during this year's holiday shopping season, a report by Mastercard Inc (MA.N) showed on Wednesday, with e-commerce sales hitting a record high. Source Reuters Read More 

Oil Rises, Supported By Trade Deal, OPEC Cuts - Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode. Source Reuters Read More 


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