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Senate approves budget benchmarks: $52 for Oil, N190/$ for exchange rate
After several weeks of bated breath, the Senate on Tuesday approved a $52 per barrel oil benchmark for the 2015 budget. It also predicated the budget on an EXCHANGE RATE of N190 to the dollar. This is...
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Dangote: Nigerian economy will bounce back, get stronger
Africa’s richest man, Alhaji Aliko Dangote, has allayed concerns over the Nigerian economy brought on by declining oil revenue and political uncertainty over the elections, stating that the country is...
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Sokoto to establish three banks, SMEDA
In its avowed commitment to enhance funding and stimulate the latent entrepreneurial capacity of the people at the grassroot level, Sokoto state said it will establish three microfinance banks as well...
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We met disclosure requirements – Stanbic IBTC reacts to FRC ‘inaccurate’...
Stanbic IBTC Holdings has responded to allegations that it breached disclosure requirements of the International Financial Reporting Standards. On Monday, the Financial Reporting Council of Nigeria...
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Akwa Ibom woos Chinese investors, offers tax relief, land
The Akwa Ibom Government, says it will provide land with Certificate of Occupancy to any investor willing to do business in the state. The Executive Chairman, Akwa Ibom Investment Corporation, Dr...
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LIRS boss denies fall in IGR from N23bn to N7bn, silent on actual figure
Lagos State Government on Wednesday denied allegation that Internally Generated Revenue, IGR, had dropped from previous N23bn to N7bn due to poor economic strategies of the present administration....
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Why Buhari is opposed to devaluation – Osinbajo
Nigeria’s Vice President, Prof. Yemi Osinbajo, SAN, has stated that devaluation of the Naira is not an appropriate option in the current economic realities in the country, and offers no solutions as...
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BVN: Over 20million comply as banks set to deactivate unregistered accounts
The Central Bank of Nigeria (CBN) has ruled out another extension for bank verification numbers (BVNs) which expires today. This means that those unable to register by the close of work on Friday would...
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BVN registration continues – CBN
The Central Bank of Nigeria has announced the continuation of the Bank Verification Number (BVN) registration exercise despite the expiration of the deadline on Saturday, October, 31. The spokesman of...
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Treasury Single Account: CBN fines Skye Bank N4bn
The Central Bank of Nigeria has imposed a N4 billion fine on Skye Bank Plc for failing to render appropriate returns on accounts of some government institutions and agencies. This is contained in a...
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Investment in Nigeria’s oil, gas industry down by 20 percent – Chevron boss
Ali Moshiri, the President of Chevron Africa and Latin America Exploration and Production, has said the total investment in Nigeria’s oil and gas industry, which stood at $20 billion in 2014, has...
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Continue registration of account holders for BVN – CBN tells banks
Following the uncertainty over the continuance of registration for Bank Verification Number (BVN), the Central Bank of Nigeria (CBN) has directed banks to ensure uninterrupted enrolment. A statement...
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Economists urges Buhari to resist devaluation of the naira
1988 set of Economists from the Ahmadu Bello University (ABU), Zaria, has urged the Federal Government not to devalue the naira but reduce cost of governance to rebuild the economy. The spokesman of...
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We didn’t pay N25bn TSA consultancy fee – CBN
The Central Bank of Nigeria(CBN), has cleared the air on the Remita saga. The apex bank stated that it does not collect and pay Remita,a consultancy outfit N25billion a day for services as being widely...
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Dangote Flour changes name to Tiger Branded Consumer Goods
Company secretary and legal adviser of Dangote Flour Plc, Aisha Ladi Isa has notified the Management of the Nigerian Stock Exchange (NSE), of the company’s change of name to Tiger Branded Consumer...
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Wema Bank gets approval to operate as national bank
Wema Bank on Thursday said it had been granted a national banking licence by the Central Bank of Nigeria. Wema Bank said in a statement in Lagos that the development would upgrade it from its current...
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Nigeria losing N256bn monthly to oil price crash — Emefiele
Nigeria is losing N256bn ($1.3bn) in foreign exchange inflows every month as a result of the global fall in the prices of crude oil, the country’s major revenue earner. The Governor, Central Bank of...
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Federal government to float $25bn fund for infrastructure development
The Minister of Finance, Mrs Kemi Adeosun has revealed plans by the Federal Government to set up a $25 billion infrastructure fund which would be used to bridge the funding gap in infrastructural...
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Buhari’s policies annoying and sending away investors- Bloomberg
International Business magazine, Bloomberg.com today published an article title “Buhari Bounce Becomes Bust as Nigeria Policies Irk Investors”. The article states that President Buhari’s policies since...
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Nigeria spent N6.9tn on subsidy in five years – W’Bank
Nigeria spent about $35bn (N6.9bn) in the last five years to subsidise petroleum products, the World Bank has said. In its ‘Nigeria Economic Report No. 3’, which was released in Abuja on Tuesday, the...
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