The Central Bank of Nigeria (CBN) has disclosed that 31 million bank account customers have been captured so far through the Bank Verification Number (BVN) project nationwide. The apex bank’s CBN Director, Banking and Payment System, Mr Dipo Fatokun, gave this hint in a paper titled, `Nigeria’s progress towards the creation of a robust, trusted […]
The Central Bank of Nigeria (CBN) has indicated its readiness to sack chairmen and chief executives of deposit money banks (DMBs) who failed to publish their banks’ annual accounts 12 months after the end of each financial year. This hint was contained in the apex bank’s latest Monetary, Credit, Foreign Trade and Exchange Policy Guidelines […]
The Chairman of the Joint Tax Board (JTB) and the Federal Inland Revenue Service, Mr. Tunde Fowler, has restated the imperativeness of States Revenue Services’ autonomy in view of the positive revenue generation and tax administration implications for sub national governments in the country. The Director of Communications and Servicom of the FIRS, Wahab Gbadamosi, […]
Indications that most states in the country are yet to adopt policies required to optimize their revenue generation capacities have emerged with The Economic Confidential Annual States Viability Index (ASVI) 2017 indicating that 17 states recorded low IGR figures. The just published ASVI reflected that 17 states recorded very low Internally Generated Revenue (IGR) value […]
The Chairman, Board of Directors, First Bank of Nigeria, Mrs. Ibukun Awosika has advised youths in the country, particularly those in Edo State, to embrace job and wealth creation initiatives. She gave the advice to participants at a two-day workshop organised by the Edo State Government in partnership with First Bank of Nigeria for young entrepreneurs and Small […]
Shareholders of FCMB Group Plc today at the company’s Annual General Meeting (AGM) approved a dividend of N1.98 billion for the financial year ended December 31, 2017. The investors, who commended the Board and management of the bank for innovatively repositioning the lender at the leading edge of the nation’s financial market, also thumped up […]
General Electric (GE), the world’s premier digital industrial company, this week partnered with the Lagos State Government and others to host a technology conference for Nigerian startups in the US. A news report distributed by Africa Press Organisation (APO) Group on the event indicated that the partnership was in furtherance of the company’s commitment to […]
Nigerian‘s frontline telecoms company, Globacom, and China’s Huawei Technologies Co Ltd are laying an undersea cable that will provide high-speed internet to oil platforms in the country’s Niger Delta region. A news report sourced from Reuters indicated that the 850 kilometre-long (528 miles) cable, connecting South Western commercial capital, Lagos with the Delta region, would […]
The Manufacturers Association of Nigeria (MAN) has reported sharp decline in automotive, pulp and paper publishing, and other manufacturing sub-sectors’ capacities last year. Available statistics on the performance of the affected sectors provided by the association showed that food, beverage and tobacco grew by 57.1 per cent; textile, apparel and footwear grew by 60.02 per […]
The Accountant General of the Federation, Mallam Ahmed Idris, yesterday said that funds in the Excess Crude Account (ECA) had dropped to an all-time low of $1.83 billion following the withdrawal of $496 million from it by the government last month. President Muhammadu Buhari had approved the withdrawal of $496m from the ECA for the […]