The Central Bank of Nigeria (CBN) has released its Consolidated Financial Statements for the past seven years spanning 2016-2022 financial years as the National Assembly, civil society organizations’ (CSOs) and stakeholders’ agitations for the apex bank to comply with the nation’s financial reporting guidelines remained unabated. The Consolidated Financial Statements showed that in the 2022 […]
First Bank Holding Plc is set to seek its shareholders’ approval to raise N150 billion new capital from the Nigerian Exchange Limited (NGX) as part of the Board and management’s efforts to improve the lender’s operations for improved services and returns on shareholders’ investment. Already, the Board had indicated the fund-raising agenda in the amended […]
PricewaterhouseCoopers (PwC), one of the global leading global economic research and consulting firms, has set three key operational areas for corporate managers in the country to focus on to enable them cope with the current fiscal and monetary whirlwinds and position their entities on the path of growth and improved returns on investments. The research […]
The Director General of the Debt Management Office (DMO), Ms. Patience Oniha, has restated the need for appropriate fiscal policies and actions to improve the nation’s revenue generation capacity and sustainable growth of the country. The debt management expert, who noted that Nigeria’s debt to GDP ratio at below 25% remained among the lowest globally […]
The House of Representatives on Thursday asked the Central Bank of Nigeria (CBN) to immediately clarify all interests and principal sums on the investments in the Excess Crude Account (ECA), Petroleum Profits (PTT) and Royalties Account to the Auditor-General for the Federation’s Office. The legislator’s call was sequel to a unanimous adoption of a motion […]
The Federation Account Allocation Committee (FAAC) shared a total sum of N907.054 billion in June this year to the Federal Government, States and Local Government Councils. The figures were stated in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023 presided over by the Accountant-General of the […]
The National Economic Council (NEC) on Thursday rated the National Social Register compiled by the Muhammadu Buhari administration as lacking integrity and opted to work in collaboration with the subnational governments to compile a more credible, fact-based register. To sustain the ongoing social intervention programme of the new administration, the Council decided to use, as […]
The Federal Inland Revenue Service (FIRS) has announced that it raked in total tax revenue of N5.5 trillion for the half-year period of January to June 2023, representing the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year. The Executive Chairman of the federal revenue agency, Mr. […]
President Bola Tinubu has written a letter to the Senate seeking approval to obtain a loan of $800 million from the World Bank to finance the Federal Government’s National Safety Net Programme. The president’s letter titled “Request for Approval of Additional Financing of the National Social Safety Net Programme Scale-up by the National Assembly” was […]
The Director-General of the West African Monetary Institute, Dr. Olorunsola Olowofeso has said that one of the aims of the West African Capital Markets Integration (WACMI) Phase II Project is to deepen West African markets as well as achieve robust and integrated capital markets. Olowofeso disclosed this during a 2-day Capacity Building/Sensitization Programme on West […]