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Akinwumi Ambode

Lagos generates ₦34 billion monthly IGR, earns ₦327million from oil

The Lagos State Government said it has so far achieved an average monthly Internally Generated Revenue of ₦34 billion in 2018. The Commissioner for Finance,...

CBN explains why 41 items remains banned under the Nigeria-China currency swap deal.

The  Central Bank of Nigeria (CBN) has disclosed that the new Nigeria-China currency swap deal would not cover the importation of the 41 items banned in...
Mrs. Kemi Adeosun

KPMG report blames FIRS, others over ₦8 trillion under-remittance into Federation accounts

The National Economic Council, (NEC) has indicted some Federal Government revenue generating agencies over non-remittance of ₦526 billion and $21 billion which is about ₦8...
Okechukwu Enelamah

A look at ‘iGuide Nigeria’, the new online portal for investors

Nigeria's Minister of Trade and Investment, Mr Okechukwu Enelamah, yesterday in Abuja commissioned the launch of an online portal for investors called 'iGuide Nigeria'....

Governors’ Forum accuses NNPC of fraudulently doubling fuel figures

The Nigerian Governors' Forum, NGF, has accused the Nigerian National Petroleum Corporation, NNPC, of fraudulently doubling daily consumption of petrol from about 30 million...

National Assembly passes 2018 budget, 6 months after its presentation

The National Assembly has passed the 2018 budget. Details of the budget show the National Assembly raised the 2018 budget by over ₦508 billion, bringing...
Mrs. Kemi Adeosun

Adeosun explains how government intends to pay debt owed contractors

Minister of Finance, Mrs. Kemi Adeosun has assured that the Federal Government would settle the inherited debts and contractual obligations to local contractors between...
Stanbic IBTC Bank Building, Lagos

Reps accuse Stanbic IBTC Bank of not remitting $4.9 million into TSA

The  House of Representatives ad-hoc committee investigating the status of Treasury Single Account, TSA, and the level of compliance by commercial banks and government agencies...
Nigerians Celebrating

Inflation drops for the 15th consecutive time

Key Highlights       Inflation Rate   - 12.48%       Food inflation - 14.80%       Core Inflation   -...
Kemi Adeosun, Finance Minister

Adeosun reveals amount paid to 14 whistleblowers

Minister of Finance, Mrs. Kemi Adeosun has revealed that the Federal Government paid another set of 14 whistleblowers the sum of ₦439.276 million for...

Abuja overtakes Lagos as top destination for Capital Importation

The report shows a fourth successive quarterly growth in Capital Importation into Nigeria, since the second quarter of 2017 (Q2 2017). The sum of $6,303.63...

Lawmakers have stopped the sale of Government stake in Liquefied Natural Gas Company

The House of Representatives has passed a motion urging the Federal Government to halt the proposed sale of its stake in the Nigerian Liquefied...
minister-of-finance-Kemi-Adeosun

FAAC disbursements hit N1.9 trillion in Q1 2018

Federal Account Allocation Committee (FAAC) disbursements for the first quarter ended March 2018, jumped 37% compared to the corresponding period of the previous year....

IMF warns Nigeria for the second time in a month

The International Monetary Fund (IMF), has issued a word of caution to Nigeria and other African producers. The multilateral body made this known during...
Mr. Godwin Emefiele,

CBN reveals how much Nigeria spends on fuel importation

The Central Bank of Nigeria CBN has revealed that a total of $36.371billion was spent on the importation of petroleum products into the country...
Mikanti Baru

NNPC has approved licenses for 13 modular refineries

The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment to actualize the December 2019 target set by the Federal Government to end the...
Godwin Emefiele, CBN Governor

CBN warns banks against rising level of Non Performing Loans

The Central Bank of Nigeria, CBN, has called on all stakeholders in the country’s financial space to unite against the rising level of Non-Performing...
Kemi Adeosun, Finance Minister

FG recovers ₦1.6 billion illegal charges from banks

Minister of Finance, Kemi Adeosun has revealed that  ₦1.6 billion illegal bank charges have been recovered from one of the branches of a commercial...

Nigeria and China finalize currency swap deal; The low down explained

Nigeria and China have finalized a currency swap between the reserve banks of both countries. The Peoples Bank of China (PBOC) disclosed this in...

CBN reveals total number of accounts with BVN

The Central Bank of Nigeria (CBN) has revealed that no fewer than 31 million account customers have been captured in its Bank Verification Number...
CBN Governor, Godwin Emefiele

CBN has rolled out new anti money laundering penalties that should get any banker...

The Central Bank of Nigeria (CBN) has issued a new set of penalties for organizations that flout its Anti-Money Laundering and Combating the Financing...
PMI

Latest PMI data is great news for anyone who owns these shares

The Central Bank of Nigeria has released the Purchasing Managers' Index PMI for the month of March. Here are the key numbers to track ...

Foreign Portfolio Investment in the stock market is growing at an astonishing rate.

The Nigerian Stock Exchange has released its report on domestic and foreign portfolio participation in equity trading for the period ended 31st March 2018. Foreign...
Mary Uduk

SEC gives recommendations on improving commodity trading in Nigeria

A technical committee set up last year by the Securities and Exchange Commission (SEC) has recommended improved and enabling business environment as the necessary...

FG accuses banks of sabotaging its effort on BVN

The Federal Government has accused commercial banks in the country of an attempt to frustrate the intention of government on accounts without  Bank Verification...

DMO raises ₦90 billion to fund budget deficit

The Debt Management Office, DMO, said it had raised ₦90 billion towards the implementation of the 2018 budget. A statement issued by the office in Abuja...

CBN issues new regulatory framework for USSD transactions

The Central Bank of Nigeria, CBN, has announced a new regulatory framework for the use of Unstructured Supplementary Service Data USSD in the country's financial system The...
Naira-Dollars

BDC Operators just issued a pre-election warning about the exchange rate

Operators of the Bureau De Change in Nigeria have issued a warning about the stability of the Naira as 2019 election activities begin. The Acting...
Opac Refinery

Opac modular refinery to commence by September

Opac refinery, which is currently being constructed in Delta State Kwale, is expected to commence operations latest September. Opac is one of the two modular...

NNPC, States meet over underpayment into Federation Account

The Federation Account Allocation Committee meeting, which was scheduled to hold yesterday to consider as well as approve statutory allocation for the month of...

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