Banking Economy News Extra Latest News

China Signs $2.5Bn Currency Swap Pact With Nigeria

The Central Bank of Nigeria (CBN) has confirmed the execution of a $2.5 billion bilateral currency swap agreement with the Peoples Bank of China (PBoC). The deal, which was sequel to the conclusion of negotiations on Friday, April 27, between the countries’ monetary authorities, is expected to boost local currency liquidity in the economies. While […]

Economy News Extra Latest News

650m Africans Lack Access To Electricity –AfDB

The African Development Bank, (AfDB) on Wednesday reported that about 650 million Africans currently live without electricity. Making the disclosure while welcoming African journalists on a media tour to Saemaul Undong Model village project, in Yamoussoukro, Cote d’Ivoire, the bank’s Director, Communication and Media Relations, Dr. Victor Oladokun, said that the continental development finance institution […]

Latest News Oil & Gas

Nigeria Targets $25bn Investment, Zero Emission In Gas Sector

The Nigerian National Petroleum Corporation (NNPC) has projected that over $25 billion investments would be attracted to the nation’s gas sector just as gas flare rate would be cut to the barest minimum within the next few years. The corporation’s Group Managing Director Corporation, Maikanti Baru, made these projections at the ongoing 50th Offshore Technology […]

Economy News Extra Latest News

AMCON Canvasses Stiffer Regulations To Grow Aviation Sector

The Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has called on agencies saddled with the responsibility of regulating the aviation industry to adopt a more efficient regulatory enforcement approach in order to grow the industry. Kuru, who was a guest speaker at the 6th Nigeria Transport Awards And Lecture where he […]

Latest News Revenue

NCS’ MMIA Command Generates N11.6Bn In Q1

The Murtala Muhammed International Airport (MMIA), Lagos Command of the Nigeria Customs Service (NCS) has reported that it generated N11.6 billion in the first quarter of 2018. This is even as reported sundry seizures, including bullet proof jackets, military helmets, military camouflage uniforms, military Fez caps and military vests of different camouflage colours from the […]

Latest News Taxation

FIRS, States Rake In N9.76bn Through SAG Payment Platform

The Federal Inland Revenue Service (FIRS) has disclosed that it generated N9.76 billion between July 2016 and April this year, through the State Offices of the Accountant-General (SAG) platform. The SAG, which was created for the states through the accountant-general’s office on July 1, 2016, is a web-based solution introduced to collect Value Added Tax, […]

Banking

CBN Indicts Banks On Non-Compliance With Money Laundering Guidelines

The Central Bank of Nigeria (CBN) has indicted majority of Deposit Money Banks (DMBs) in the country for their failure to comply with the regulatory anti-money laundering requirements of the banking sector. The apex bank, in its latest anti-money laundering system examination report contained  in 2017 CBN Half-year Economic Report, indicated that the anti-money laundering […]