ASSETS & FINANCIALS

The Federal Government has indicated the possibility of introducing new taxes, tariffs and levies as part of measures to shore up its revenue. This is just as the Federal Ministry of Finance, Budget and National Planning has said it is …

The  Bureau of Public Enterprises on Thursday named members of the interim management team for the Abuja Electricity Distribution Company which was taken over recently by the United Bank for Africa. It outlined the interim management team to include Bada …

The Central Bank of Nigeria has set aside over N5.7bn to give as loan to 10,000 farmers to encourage dry season wheat farming in Bauchi State. The CBN Comptroller, Bauchi Branch, Saladu Idris, who disclosed this at the flag-off of …

The United Bank for Africa Plc has taken over the majority stake in the Abuja Electricity Distribution Company and has received the endorsement of the Federal Government, the Minister of Power, Abubakar Aliyu, announced on Wednesday. Aliyu said the Deposit …

The South-East Amalgamated Markets Traders Association has decried what it described as “multiple and indiscriminate charges and deductions on customers” by commercial banks. The association complained about the bank charges in an open letter to the Governor of Central Bank …

Over 10,000 subscribers have submitted applications through the National Housing Programme portal recently opened by the Federal Ministry of Works and Housing for 5,000 houses in 34 states, the FMWH has said. It, however, advised applicants to ensure strict compliance …

INEC chairman to brief lawmakers on direct primaries President Muhammadu Buhari, yesterday, transmitted Finance Bill, 2021 to the House of Representatives to enhance implementation of the 2022 appropriation bill. The President had on October 7 presented before a joint session …

The Central Bank of Nigeria on Wednesday knocked commercial banks across the country for not promoting the e-Naira launched with fanfare by the President, Major Genersl Muhammadu Buhari(retd.), in October, 2021. The apex bank also explained the operational benefits of …

The nation’s external reserves fell by $610m last month, figures obtained from the Central Bank of Nigeria on Thursday revealed. The reserves dropped to N$41.22bn as of November 29 from $41.83bn on October 29. The CBN also disclosed that at …

President Muhammadu Buhari, yesterday, vowed sanctions against those behind illegal recruitment into the public service, payroll padding and retention of ghost workers. Issuing the warning at the opening of the third National Summit on Diminishing Corruption in the Public Sector, …

The National Mushroom Growers, Processors and Marketers Association of Nigeria has called on the governments to address challenges hindering growth in the mushroom subsector in the country. This, it said, would enable mushrooms producers to benefit from the products’ $45.3bn …

Servicing of debts acquired through instruments issued by the Federal Government in the Nigeria capital market totaled N2.18tn as of October 30, an analysis of data by our correspondent has shown. Data from listed debt instruments on the FMDQ Exchange …

Two of Nigeria’s largest flour milling companies, Flour Mills of Nigeria Plc and Honeywell Flour Mills Plc, have recorded a combined increase of N39bn (33.53 per cent) in their market capitalisation so far this year, data collated from the Nigerian …

Broadband subscriptions dropped from 85.94 million recorded in December 2020 to 76.15 million in October 2021, indicating a 12.08 per cent or 9.79 million drop in the number of subscriptions. Data from the Nigerian Communications Commission also showed that broadband …

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Thursday, launched the Tertiary Institutions Entrepreneurship Scheme designed to tackle underemployment and unemployment in the country. Emefiele, at the launch in Abuja, also presented loans ranging from N4.1m …

The Securities and Exchange Commission has vowed to continue to crack down on Ponzi schemes and illegal fund managers amid the recent resurgence of their activities. The Director-General, SEC, Mr Lamido Yuguda, made the pledge at an enlightenment workshop and …

With museums world over returning looted artefacts in their possession, New York’s Metropolitan Museum of Art, on Monday, officially joined the fray, as it returned three works of art looted in the 19th century to Nigeria. The museum and the …

Ecobank Nigeria Limited has warned Flour Mills of Nigeria Plc against the proposed acquisition of equity stake in Honeywell Flour Mills Plc, alleging that Honeywell Group Limited, the parent firm, had not been paying up its loans from the bank. …

The Office of the Auditor General of the Federation has uncovered irregularities in the award of contracts amounting to N4.41bn by 18 ministries, departments and agencies of government in 2019. The OAuGF disclosed this in a 2019 Annual Report on …

The average fares paid by commuters within Nigerian cities have climbed by 36.58 per cent year-on-year, according to a new report by the National Bureau of Statistics. The NBS, in its Transport Fare Watch report for October 2021, stated that …