The Sterling Investment Management SPV Plc’s N7.965bn Series 1 bond has come on stream on the FMDQ OTC Securities Exchange platform. The seven-year 16.50 per cent fixed rate unsecured bond, under a N65bn debt issuance programme, is dubbed the Sterling …
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The Federal Government on Tuesday said it had been able to reduce the monthly wage bill of civil servants in Ministries, Departments and Agencies from N165bn to N145bn. The Permanent Secretary, Ministry of Finance, Mr. Mahmoud Dutse, gave the figure …
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The Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler, has announced that withholding tax certificate will now be emailed directly to taxpayers within one week of payment, beginning from December 1, 2016. He made the announcement at the Tax …
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The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, and the President, Chartered Institute of Bankers of Nigeria, Prof. Segun Ajibola, have expressed the hope that the nation will soon begin to experience economic recovery. They said although the economy …
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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Federal Government to urgently evaluate the level of its domestic indebtedness and develop a framework for settling these debts. The committee, in a communique issued …
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The federal government has stated that of the N6.06 trillion that was budgeted for the 2016 fiscal year, it has spent about N3.577 trillion as at September, 2016. This, it said translated to a 79 per cent performance recorded by …
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The Senate has expressed surprise at a recommendation by the Nigerian Law Reform Commission for a review of the Nigerian Foreign Exchange Act to make people who have in their possession for more than 30 days foreign currencies to go …
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The Federal Government made more than N1bn in the first 10 months of this year from mining leases, renewal and licences. The Minister of State for Mines and Steel Development, Mr. Abubakar Bwari, disclosed this at a press conference in …
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The Federal Government has proposed an amendment to the Foreign-Exchange Act to enable the imprisonment of anyone who holds foreign currencies, especially the dollar, for more than 30 days. This is the latest measure the government and the Central Bank …
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The Central Bank of Nigeria is to provide about N750bn for the recapitalisation of the Bank of Agriculture before the end of next year, the Federal Government has said. According to the government, the restructuring and recapitalisation of the BoA …
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The Small-scale Women Farmers Organization in Nigeria has called on government at state and federal levels to implement the Malabo Declaration agreement, which prescribes 10 per cent annual allocation to the agricultural sector. The Leader of SWOFON in Cross River …
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President Muhammadu Buhari has set up an inter-agency Presidential Committee on Asset Recovery as part of the efforts to strengthen the ongoing fight against corruption. The committee is headed by the Vice President, Prof. Yemi Osinbajo. Minister of Information and …
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The naira is expected to trade in a tight range at the official and parallel markets next week as the Central Bank of Nigeria struggles to curb speculation on the local currency and reduce pressure on the dwindling external reserves. …
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The Federal Government has decided to come down hard on some its revenue-generating agencies accused of engaging in activities that are considered to be abuse of the revenues they generate. Instead of remitting the revenues to the Federation Account, the …
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The current monetary policies of the Federal Government are militating against the growth of the capital market, according to an economist and the Director-General, Lagos Chambers of Commerce and Industry, Mr. Muda Yusuf. He, therefore, called on the government to …
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The Federal Government says it is ready to create 490,000 jobs through Smart Farmer Scheme to enable youths to maximise productivity in agricultural value chain. It added that the scheme was meant to diversify the country’s economy and make agriculture …
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The Federal Ministry of Finance on Tuesday announced the constitution of a committee to recover about N450bn unremitted operating surpluses from some agencies of the government. The committee headed by the Accountant-General of the Federation, Alhaji Ahmed Idris, is to …
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The Court of Appeal sitting in Lagos has dashed the hope of the Federal Government to raise about N2.5tn per annum from stamp duties on bank lodgements with value of N1,000 and above. Ruling on an appeal filed by Standard …
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The Central Bank of Nigeria on Tuesday dismissed reports that Heritage Bank was in distress and unable to discharge its obligations to depositors. The apex bank said in a statement issued by its Acting Director, Corporate Communications Department, Mr. Isaac …
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The Nigerian equities market closed on a negative note on Monday as Forte Oil Plc, Honeywell Flour Mill Plc, Cadbury Nigeria Plc, Nascon Allied Industries Plc and Oando Plc led a N64bn loss at the close of trading on the …
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