ASSETS & FINANCIALS

Banks’ non-performing loans stood at N1.2tn as of the end of June according to figures obtained from the Central Bank of Nigeria on Monday. This amounted to about 6.4 per cent of the gross credit of the banks to the …

By Ayoola Olaitan The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has said that there is no convenient time for tax payments as it rolls out six percent stamp duty on rent, lease and others. He made …

The NSE All-Share Index and Market Capitalisation both appreciated by 0.58 per cent to close the week at 24,427.73 and N12.743tn, respectively halting weeks of declines. Analysis of the weekly transactions showed that all other indices finished higher during the …

A firm, the South West Bitumen Limited, has begun the modular exploitation of bitumen deposits in Ondo State. It was gathered that the firm, had secured a 25-Year Renewable Operational Mining License for the exploitation of the mineral deposit at …

Many Micro, Small and Medium Enterprises who are members of the organised private sector have decried their inability to access the loan offered by the Central Bank of Nigeria for MSMEs and household impacted by the coronavirus pandemic. It was …

The Federal Government Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribed by N340.13bn, the Debt Management Office has said. The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the …

The Federal Government on Thursday said it had identified oil and non-oil initiatives that could help the country generate between N13tn to N18tn and achieve its 15 per cent revenue to Gross Domestic Product target. It also stated that states …

The Director-General, National Research Institute for Chemical Technology, Zaria, Prof. Jeffrey Barminas, said that Nigeria lost $1.4bn to importation of chemicals in 2019. He made the disclosure on Thursday at an interactive session in Abuja with the Senate Committee on …

In line with current realities of the COVID-19 pandemic, the Corporate Affairs Commission has barred customers from physically visiting its office premises in Abuja and Lagos to carry out official transactions. According to a public notice released through its verified …

• NDE must report to minister of state, says ministry spokesman • N52bn public works fund for NDE, not ministry, Senate insists The Ministry of Labour, Employment and Productivity on Wednesday rejected resolutions of both chambers of the National Assembly …

The House of Representatives has resolved to investigate the Central Bank of Nigeria over the difficulties Nigerians face in accessing its special intervention loans, especially that created for Small and Medium-Scale Enterprises to cushion the effect of COVID-19. A member …

The Minister of Communications and Digital Economy, Dr Isa Pantami, has approved new guidelines for courier and logistics operations in the country. The new Courier and Logistics Operations 2020 guidelines would replace the former regulations, which had been in existence …

The Federal Government has proposed N12.66tn as aggregate expenditure for the 2021 fiscal year on a deficit of N5.16tn. It would be partly financed by a total loan package of N4.28tn while the rest would be from internally generated revenues. …

Fitch Ratings has said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan African countries. It stated this in its report on Monday titled ‘Outlook on Sub-Saharan …

The Lower Anambra Irrigation project sponsored by the Africa Development Bank (AfDB) under the Agricultural Transformation Agenda support Programme of the Federal Government at Ifite Ogwari, Ayamelum Council Area of the state has received a boost.The project comprises rehabilitation of …

For decades, successive governments in Nigerian resorted to protective measures, including import restrictions and exchange rate control, to manage its foreign exchange (forex) market, and deal with the problems of import and oil dependency. This import substitution policy is usually …

Uncertainties, inconsistent government policies have continued to dampen investors’ confidence in the equity sector of the Nigerian Stock Exchange (NSE), raising questions as to turning around its fortunes. This is just as economic recovery is also threatened by the COVID-19 …

The lockdown and physical distancing measures that were implemented to curb the spread of COVID-19 in Nigeria almost led to a complete shutdown of economic activities across the country, the Federal Government said on Sunday. In her opening address in …

The country’s foreign reserves fell by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, the latest figures from the Central Bank of Nigeria showed on Thursday. The CBN, in its February monthly report, entitled ‘Gross external reserves,’ …

This investment plan describes the investment, cost and benefits of setting up a packaged Plantain Flour factory. The factory will produce branded wholesome 1kg plantain flour and sold in the Nigerian market. The factory can be situated in any part …