The Federal Government has so far recovered N1.44bn from three of its agencies alleged not to have remitted their operating surpluses as stipulated by the Fiscal Responsibility Act of 2007. The agencies are the Nigerian Export Promotion Council, from which …
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Stanbic IBTC Bank says it has inaugurated its first self-service digital branch drive optimal financial services in Nigeria. It said the processes and systems of the branch, located at Maryland Mall, Lagos, were completely digitalised and equipped with tablets, touch …
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The Minister of Budget and National Planning, Udoma Udoma, says that the Federal Government will issue new oil licences as part of efforts to explore new streams of revenues to fund the 2017 budget. Udoma made this known when he …
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The Minister of Labour and Employment, Dr. Chris Ngige, has assured Nigerian workers of a pay rise next year. Ngige stated this in Awka, the Anambra State capital, at an interactive session with journalists on Monday. He said the various …
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President Muhammadu Buhari will today (Wednesday) present the 2017 Appropriation Bill to a joint session of the National Assembly. The document will be the second one to be presented by the President after his inauguration in May 2015. Buhari, who …
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Nigeria and South Africa on Tuesday in Abuja dusted a Memorandum of Understanding on mining collaboration signed in 2013 and endorsed a two-year implementation plan beginning from January 2017. The Minister of Mines and Steel Development, Dr. Kayode Fayemi; and …
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The nation’s foreign exchange reserves have risen to a three-month high of $24.97bn from a low of $23.89bn on October 19, the latest data from the Central Bank of Nigeria has shown. The reserves have dropped by 15.9 per cent …
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The Nigerian Stock Exchange and the Economic and Financial Crimes Commission have succeeded in aborting a N20m fraud targeted at the estate of an investor in the market, the late Prof. David Osifo. The development was contained in a letter …
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The Lagos State Government has pledged to make rice available to residents at a reduced cost of N13, 000 per 50kg bag. The Lagos State Governor, Mr. Akinwunmi Ambode, disclosed this on Thursday during the 2016 Agricultural Summit organised by …
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The Ebonyi State Government has urged the Federal Government to support it so that it can commence dry season rice farming and increase the commodity’s production. The Commissioner for Information and State Orientation, Dr. Emma Onwe, made the plea on …
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The Federal Government, through the National Economic Recovery Growth Plan, is targeting a growth rate of seven per cent between 2017 and 2020. The Minister of Budget and National Planning, Senator Udo Udoma, disclosed this at a meeting with select …
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The Central Bank of Nigeria on Wednesday warned Deposit Money Banks participating in the disbursement of its intervention funds to different critical sectors against charging above the approved nine per cent interest rate. The CBN Governor, Mr. Godwin Emefiele, gave …
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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has disclosed that the apex bank, under its Commercial Agricultural Credit Scheme (CACS) has over N250 billion which has not been fully disbursed as well as a N220 billion micro, …
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Six days after the initial proposal date for the presentation of the 2017 budget, President Muhammadu Buhari yesterday formally announced his preparedness to present the 2017 Appropriation Bill on December 14.The presentation was said to have earlier been conceived for …
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First City Monument Bank Limited has given out over N3.6bn to small businesses and women entrepreneurs from the Central Bank of Nigeria’s N220bn support for Micro, Small and Medium Enterprises. The bank, which is the flagship of FCMB Group Plc, …
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Banks are demanding more collateral from firms seeking loans as default rates have worsened, a new report from the Central Bank of Nigeria has revealed. The Credit Conditions Survey Report for the fourth quarter 2016 said the overall availability of …
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The Managing Director of Ecobank Nigeria, Charles Kie, has said the bank will continue to support projects that impact positively on the lives of the people and economic development of the country. Kie stated this at the inauguration of Abia …
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The Federal Government is close to appointing banks to help underwrite the country’s first international bond since 2013 as the government deals with the worst fiscal crisis in 25 years. Standard Chartered, Citi and Stanbic IBTC have been in talks …
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The Chairman, United Bank for Africa Plc, Mr. Tony Elumelu, has described entrepreneurship as the most secure route to sustainable development, calling on African leaders to create youth business champions. He also called for a shared approach to African development, …
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As the scarcity of the United States dollar continues to hamper the importation of petroleum products by marketers, the Central Bank of Nigeria has asked banks to submit bids for a “special currency auction.” The auction is targeting fuel importers …
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