ASSETS & FINANCIALS

 The Minister of Finance, Mrs. Kemi Adeosun, has said that she cannot predict when the nation will get out of the current economic recession. She, however, said that some of the efforts of the government to reflate the economy had …

 The Minister of Finance, Mrs. Kemi Adeosun, will on Tuesday meet with the commissioners for Finance from the 36 states of the federation on options available to the government to finance developmental projects. The meeting, to be held in Ogun …

 The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early …

 The Minister of Labour and Employment, Senator Chris Ngige, has said the decline in government revenue is hampering efforts aimed at fighting child labour, cheap labour and human trafficking. The minister, while speaking at the Africa Growth and Opportunity Act …

 The Federal Government will soon begin an evaluation of the rate of compliance by state governments with the implementation of the Fiscal Sustainability Plan, which they signed onto in June. The adoption of the FSP was a condition given by …

Lagos, Kaduna and Edo, with a combined foreign debt profile of $1.84bn, are the most indebted states of the federation as far as subnational foreign debts are concerned, investigation has revealed. Statistics obtained from the Debt Management Office in Abuja …

Poor infrastructure, lack of basic amenities and multiple taxations frustrate enterprise in Nigeria. Organizations surviving the harsh economic conditions, therefore, deserve kudos, as the country remains one of the toughest places to do business. President of the Institute of Chartered …

 The Lagos State government has commenced the empowerment of 500 youths under its Ready Set Work (RSW) scheme as part of its efforts at curbing youth unemployment in the state. The scheme is executed in collaboration with the First City …

 For the first time in 30 years, Guinness Nigeria Plc yesterday reported a loss for the year ended June 30, 2016. Details of the audited results filed with the Nigerian Stock Exchange (NSE) showed that turnover fell by 14 per …

 The Minister of Finance, Mrs. Kemi Adeosun, has called on the Central Bank of Nigeria to lower interest rate so that the government can borrow domestically to boost the economy without increasing debt servicing costs. While reacting to the minister’s …

 A number of Deposit Money Banks in the country will close many of what they described as unprofitable branches as the economic recession continues to bite harder, investigation by our correspondent has shown. It was similarly gathered that most of …

 …Recovery of the economy not possible till 2017 – Experts The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has predicted that the nation’s economy will likely come out of recession by the fourth quarter of this year …

 The Federal Inland Revenue Service said it had registered about 700,000 new corporate taxpayers in the last one year in a bid to widen the tax net and boost government revenue. The agency also said it had commenced a voluntary …

 The Consumer Protection Council on Sunday warned against the use of Samsung Galaxy Note 7 following reports of explosion of dozens of the product while being charged. The council said the advice against the use of the phone was an …

 The Central Bank of Nigeria, in a bid to reduce the housing deficit in the country, has selected eight microfinance banks to provide affordable houses for the citizens. The Head, National Housing Fund Programme of the CBN, Mr. Adedeji Adesemoye, …

 The National Bureau of Statistics on Sunday released a revised version of the capital importation report for the second quarter, with estimated investment inflow of $1.04bn. The investment inflow represents an increase of 46.58 per cent over the amount recorded …

 Trading on the floor of the Nigerian Stock Exchange closed on a positive note on Wednesday, after the two-day public holiday declared by the Federal Government. The stock market appreciated by N22bn despite losses in 20 stocks. The NSE market …

 In order to finance the 2016 budget, the Federal Government is to raise $1bn through the issuance of Eurobonds by November, investigation has shown. The amount to be raised from the international bonds market is part of the $4.5bn that …

 Simplified Corporate Logistics has been launched with the aim of sourcing for foreign exchange for Nigerian businesses involved in export and import. A statement on Tuesday described SCL as a full-service procurement, shipping, clearing, forwarding and warehousing suite. The Founder …

 The country’s external reserves have been depleted by $1bn in the last five weeks, latest statistics from the Central Bank of Nigeria have showed. This follows the CBN’s almost daily intervention at the interbank/official foreign exchange market in recent weeks, …