The Federal Government on Tuesday said the country recorded N154.5bn decline in gross federally collected revenue in July, which stood at N630.32bn, from the N784.88bn received in June. The Minister of State for Finance, Ambassador Bashir Yuguda, disclosed this while …
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In a renewed bid to pursue its core function of industrialization, the Bank of Industry (BOI) has barred importers and traders from accessing credit facility from the bank. This is coming as the bank has also begun a survey of …
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The World Bank and the National Directorate of Employment are collaborating to implement Skills for Job programme, with the global financial institution investing $300m to fight unemployment in Nigeria. The World Bank Team Leader for Youth Employment and Social Support …
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The world’s worst-ever outbreak of Ebola will inflict economic damage on Nigeria and other the West African countries as companies scale back operations. Commercial and transport disruptions that would probably last for at least the next month, along with increased …
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The Central Bank of Nigeria on last week unveiled a new remittance platform that would help reduce the demand for foreign currencies in the country. The platform, known as the Outbound Remittance Service is being spearheaded by First Bank of …
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olusegun-aganga Nigeria and the United States have commenced plans to leverage on US President Barack Obama’s $14bn investment pledge in Africa, for an effective financing structure for infrastructure in Nigeria. The Minister of Industry, Trade and Investment, Olusegun Aganga, and …
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The Federal Government has announced plans to inject additional N72 billion to actualize its ongoing gas-to-power projects in the country. According to the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, the government is to source the money from the $450 …
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The Coordinating Minister of the Economy and Minister for Finance, Dr. (Mrs.) Ngozi Okonjo-Iweala, has said that making home ownership an accessible dream for Nigerians will contribute greatly to Nigeria’s Gross Domestic Products (GDP) from the current 3.1 per cent …
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The naira strengthened against the dollar on the interbank market on Monday, reaching its strongest in almost three months, as a unit of Royal Dutch Shell sold dollars and demand for hard currencies weakened. According to Reuters, the naira closed at …
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The Chairman, Stanbic IBTC Holdings Plc, Mr. Atedo Peterside, has said that with consistent improvement in political governance, an expanding middle class, huge consumer market and economic growth rates averaging five per cent in the last decade, investors can no …
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Minister of State for Finance, Ambassador Bashir Yuguda The Federal Government has unveiled plans to deepen bilateral trade relations with the United Kingdom in order to attract fresh investments into the country. The Minister of State for Finance, Ambassador Bashir …
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Millions of pounds of fines imposed on Lloyds Banking Group for manipulating lending rates will go to military good causes. According to the Sky News, the Prime Minister, along with the Chancellor George Osborne, made the announcement on a visit to a …
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Nigeria has the potential to be one of the world’s top 20 economies by 2030 with a consumer base exceeding the current populations of France and Germany, according to McKinsey & Co. The country’s economy may expand about 7.1 per …
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Vice-President Namadi Sambo last week flayed the high rate at which commercial banks charge interest rates. This, according to him, hampers small and medium scale enterprises (SMEs) in accessing finance for their operations. He stated this in Saudi Arabia when …
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The central bank disclosed this on last week, a day after the sale. The central bank on sold N34.88 billion in the 3-month paper at 9.84 per cent, compared with 9.95 per cent at the previous auction on July 9. …
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Foreign exchange dealers are expecting the naira to be range-bound this week after the Nigerian National Petroleum Corporation sold close to $200m to some banks. Reuters reported that the naira closed at N162.40 to the dollar, little-changed from N162.45 the …
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The Managing Director, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has promised that the bank will continue to support small and medium-sized enterprises in the country. This, he said, was as a result of the crucial role small and medium-sized businesses …
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First Bank of Nigeria Limited and its pension subsidiary- First Pension Custodian Nigeria Limited, is sponsoring the debut edition of the World Pension Summit ‘Africa Special’ scheduled to hold last week in Abuja. The summit, which coincides with the 10th …
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The Group Managing Director, Diamond Bank Plc, Dr. Alex Otti, says investment in personnel is crucial to the growth of Small and Medium Enterprises. He also emphasised the need for organisations to assist governments to improve the living standard of …
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The President, Chartered Institute of Taxation of Nigeria, Chief Mac-Anthony Dike, has identified insecurity and corruption as impediments to increased tax revenues for the governments. He stated that insecurity had reduced economic activities, driven tax collectors away and made citizens …
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