• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

LBIC to collect revenues on behalf of Lagos State

Damilare Famuyiwa by Damilare Famuyiwa
November 12, 2018
in Business News, Politics
LBIC, Lagos Building Investment Company Plc
Share on FacebookShare on TwitterShare on Linkedin

The Managing Director/CEO of Lagos Building Investment Company Plc (LBIC), Folasade Folivi has confirmed that the bank has been enrolled into Lagos State Electronic Banking System of Revenue Collection and Monitoring.

LBIC, according to Folivi, has now joined the league of financial institutions approved by the state government to collect its revenues.

“The LBIC was able to attain the feat because its operations are now Information and Communications Technology-compliant and we can now provide Internet banking, which means clients can access its services online and real-time,” Folivi was quoted.

LBIC status as a revenue collector on behalf of the state was confirmed in a letter issued by the State Treasury Office.

RelatedStories

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025

The letter reads

“Following your recent application for absorption into the Lagos State Government EBS/RCM revenue generation programme and subsequent recommendation of our revenue consultant (Alpha Beta Consulting LLP) on the level of your bank’s compliance with necessary technical and operational procedure, we are delighted to convey to you the state government approval for your bank’s enlistment.”

“By this, the LBIC has been enrolled into the Lagos State Electronic Banking System of Revenue Collection and Monitoring, and it is statutorily empowered to collect all forms of government revenues such as taxes, dues, fines, etc.”

About LBIC

The Lagos Building Investment Company Plc was established as a Corporate entity on February 14, 1980 with the aim of providing Mortgage Finance Facilities to allottees of various low-cost housing Schemes built by the Lagos State Government.

With the promulgation of the mortgage Institution Act.No.53 of 1980, the company became a full-fledged Primary Mortgage Bank (PMB), subsequently, it extended granting of mortgages to the middle-income segment.

Following a successful Private Placement, the paid-up capital of the bank was increased from 100 million to 2.5 billion in 2007. Lagos State Government is the major shareholder, holding 82 per cent, while others include corporate institutions and Private investors.


Follow us for Breaking News and Market Intelligence.
Tags: Lagos Building Investment Company PlcLagos StateLBIC
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

Lagos launches clean cookstove initiative with N10,000 monthly stipend 
Energy

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025
Economy

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025
Lagos emerges the world’s fastest-growing tech city in 2025 
Sectors

Lagos emerges the world’s fastest-growing tech city in 2025 

May 22, 2025
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 
Real Estate and Construction

Lagos state delivers 9,970 housing units in six years, targets more homes by 2026 

May 13, 2025
Lagos govt bans articulated trucks from Lekki-Epe corridor during peak hours starting August
Sectors

Lagos State creates 3,941 parking slots to ease traffic congestion 

April 26, 2025
Lagos says 50% discount on transport fares will end by Sunday
Sectors

Lagos state-owned buses move over 40,000 commuters daily – Commissioner 

April 22, 2025
Next Post
Energy Crisis, OPEC, Organisation of the Petroleum Exporting Countries, OPEC Members, Nigerian National Petroleum Corporation, Crude oil production, OPEC alliance under coordinated attack and Nigeria must brace up for it

OPEC moves to combat plummeting oil prices

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • NucleusIS rebrands as RIGO, unveils ambitious plan to digitize Africa’s healthcare economy 
  • Carbon unveils Carbon Nexus — A smarter way for Nigerian businesses to collect, track, and manage payments  
  • Empowering the future: Real estate cashback cooperative set to host 2025 AGM

Follow us on social media:

Recent News

NucleusIS rebrands as RIGO, unveils ambitious plan to digitize Africa’s healthcare economy 

NucleusIS rebrands as RIGO, unveils ambitious plan to digitize Africa’s healthcare economy 

July 14, 2025
Carbon unveils Carbon Nexus — A smarter way for Nigerian businesses to collect, track, and manage payments  

Carbon unveils Carbon Nexus — A smarter way for Nigerian businesses to collect, track, and manage payments  

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics