Equinix, Inc., the world’s largest digital infrastructure company, has announced that the ASEAN Financial Innovation Network (AFIN) would leverage Platform Equinix® to accelerate financial services innovation in Singapore and the global Fintech Ecosystem. A news report by IBS Intelligence, the world’s pure-play Financial Technology research, advisory, and media firm, indicated that the collaboration will provide […]
The Senate has directed the Federal Inland Revenue Service (FIRS) to locate companies that failed to pay their taxes in 2015 and compel them to fulfil their fiscal obligations as provided in the relevant tax laws. The decision of the Upper Chamber of the National Assembly was sequel to a report by the Office of […]
The Minister of State for Power, Prince Goddy Jedy Agba, has projected that Nigeria would need about $400 billion between now and 2050 to provide stable electricity in over 25 million Nigerians currently lacking access to power supply. The minister made the projection during a media briefing in Lagos preparatory to the forthcoming 26th United […]
The Federal Government on Monday hinted of its plans to borrow about N4.89 trillion locally and externally in 2022 to fund the revenue shortfall in its proposed budget of N13.98trn in the fiscal year. Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this during an interactive session with members of the House […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has described President Muhammadu Buhari’s assent to the Petroleum Industry Bill (PIB) on Monday as a historic development with great potential for sustainable growth of the nation’s hydrocarbon resources industry. The organisation’s Executive Secretary, Dr. Orji Ogbonnaya Orji, in a statement signed on his behalf by NEITI’s Head […]
The 36 State Governments in Nigeria have filed a suit at the Supreme Court against the Federal Government over its alleged failure to remit funds and other recovered assets into the federation account. The suit dated March 9, 2021 with number SC/395/2021 was filed on June 16, 2021 on behalf of the plaintiffs and has […]
The Central Bank of Nigeria (CBN) has linked the recent depreciation in the value of the naira to the effects of the COVID-19 pandemic on the nation’s economy. The apex bank’s Deputy Governor, Corporate Services Department, Mr. Edward Adamu, was reported by the News Agency of Nigeria (NAN) as making the disclosure during an interactive […]
The International Monetary Fund (IMF) on Monday reported that Nigeria’s foreign liabilities stood at $187.36 billion while the country’s foreign assets amounted to $102.15 billion as of December 2020,. Foreign assets are the investment securities owned by a national government, companies, or citizens in foreign countries while foreign liabilities are assets owned by foreign governments, […]
President Muhammadu Buhari on Monday signed the Petroleum Industry Bill (PIB) 2021. With the President’s assent, the nation’s hydrocarbon resources industry now has an updated legal, governance, regulatory and fiscal framework to guide its operations. A statement issued by Special Adviser to the President on Media, Mr. Femi Adesina, indicated that President Buhari assented to […]
The Securities and Exchange Commission (SEC) at the weekend disclosed that the total value of unclaimed dividends in the Nigerian capital market increased by 7.3 percent from N158.44 billion at the end of 2019 to N170 billion by December 2020. The commission’s Director General, Mr. Lamido Yuguda, made the disclosure at the second post-capital market […]