The Governor of Central Bank of Ghana, Ernest Addison, on Tuesday expressed concern that the current global policy tightening cycle could cause “significant challenges” for Ghana after the nation cut its key lending rate to a four-year low. Ghana’s Monetary Policy Committee had cut its policy rate by 900 basis points over the past two […]
India’s projected Goods and Services Tax (GST) collections for the current fiscal year have not been met by the tax authorities, thereby compelling the government to jack up the country’s direct tax-GDP ratio. Speaking on the development on CNBC TV, national tax leader at Ernst & Young (EY), Sudhir Kapadia, pointed out that if the direct […]
South African new Finance Minister, Tito Mboweni, will on Wednesday seek 50 billion rand ($3.5 billion) for a stimulus package as the country contends with fiscal challenges in 2018 budget implementation Mboweni, the former central bank governor who took over the finance ministry barely two weeks ago after Nhlanhla Nene resigned, has to do that […]
The Federal Government has indicated its readiness to continue the payment of stipend to beneficiaries of the N-Power 2016 Batch 1 beyond December this year. A statement issued to confirm the position of government on the extension of the stipend payment by Senior Special Assistant to the President on Media and Publicity Office of the […]
Ogun Traffic Compliance and Enforcement Corps (TRACE) has disclosed that it rakes in N44.8 million as Internally Generated Revenue (IGR) between January and August this year. The corps commander, Mr Seni Ogunyemi, gave this hint on Monday when members of Ogun Assembly Committee on Transportation paid an oversight to the agency’s head office in Abeokuta. […]
The Institute of Oil and Gas Research and Hydrocarbon Studies (IOGRHS) has described the 2020 deadline to end gas flaring in Nigeria as not realistic in view of the current level of gas flare in the hydrocarbon resources industry by operating entities. The Institute’s Chairman of Council, Prof. Akin Akindoyeni, who maintained this position during […]
The African Development Bank (AfDB) and African Trade Insurance Agency (ATI) on Monday announced the successful completion of a US$500 million credit insurance deal structured to cover a portion of the bank’s portfolio of non-sovereign operations in Africa. The initiative, which is supported by Insurance Broker – RFIB Group Ltd – and leading UK reinsurers, […]
The Executive Vice Chairman (EVC), Nigerian Communications Commission, Prof. Umar Danbatta, on Thursday urged state governments to invest in the implementation of broadband policy of the Federal Government. The industry regulator gave the charge at a one-day stakeholders’ broadband engagement forum held in Kano. Danbatta noted that state governments had a vital role to play […]
The National Insurance Commission (NAICOM) on Thursday announced the suspension of the implementation of its Tier-based Minimum Solvency Capital policy, known as the recapitalisation of the industry. The commission announced the suspension of the policy in a circular to all insurance institutions titled‘Update on the implementation of the Tier-based Minimum Solvency Capital policy for insurance […]
The Minister of Power, Works and Housing, Babatunde Fashola, on Thursday said that transmission expansions works were being implemented in at least 90 locations in furtherance of government’s efforts to improve on-grid electricity supply nationwide. The minister made the disclosure during the commissioning of 2×100MVA – 132/33kv power transformers at Ejigbo Transmission Substation in Lagos. […]