….Says Newly Created Audit Units Will Curb Illicit Financial Outflows The Federal Inland Revenue Service (FIRS) on Monday disclosed that Nigeria lost $178 billion (about N5.4 trillion) to tax evasion by multi-nationals in 10 years. To curb such abuses within the fiscal system, the Executive Chairman of the Service, Mr Muhammad Nami, said the Service […]
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Monday at a virtual meeting said that small businesses remained the engines of growth for the nation’s economy, especially in the areas of wealth creation and employment opportunities. He said that in partnership with the private sector, the Federal Government would continue to support innovation and interventions to […]
President Muhammadu Buhari on Tuesday linked sustainable development of any country, Nigeria inclusive, to quality infrastructure and that it would be practically impossible for a country with infrastructure deficit to optimize its development potential. The President made this remark when he received in audience, the State Councillor and Foreign Minister, People’s Republic of China, Mr. […]
As part of its sustained monetary policy efforts to reduce Non-Performing Loans (NPLs) problem in the financial system, the Central Bank of Nigeria (CBN) has instructed banks and other lenders to obtain reports of borrowers from licensed credit bureaux as part of their due diligence in granting loans. The apex bank, in its latest report […]
Despite complaints by customers about the current tariff regime, the Federal Government has increased tariffs by about 50 percent for electricity consumers nationwide. The Nigerian Electricity Regulatory Commission (NERC) in its latest order copied all the distribution companies (Discos), stated that the upward hike in tariffs was necessitated by rising inflation rate, foreign exchange, generation […]
The Association of Bureaux De Change Operators of Nigeria (ABCON) on Tuesday urged the Central Bank of Nigeria (CBN) to sustain its monetary policy measures aimed at stabilizing the Naira foreign exchange rates for economic growth. A news report by the News Agency of Nigeria (NAN) quoted the National President of the association, Alhaji Aminu […]
…Legal expert says bank can take action against peddlers The Bank Customers Association of Nigeria (BCAN) late Sunday detested in unequivocal terms the attempt by some social media commentators and publishers to disparage the image of the First City Monument Bank (FCMB) in the face of the ongoing controversies over alleged extra-marital affairs of the […]
The National Bureau of Statistics (NBS) has reported 1.89 percent upward swing in all commodity group import index in the third quarter of year 2020. The Bureau, which disclosed this in its ‘Commodity price index July to September, 2020’ report, attributed the rise mainly to increase in the prices of products of the chemical and […]
Osun State Government has released the sum of N200 million to partly offset arrears of pensions owed to the retired workers in the state. The State Head of Service (HoS), Dr Festus Oyebade, gave this hint during the Year 2021 annual inter-religious prayer session held at the State Government Secretariat, Abere to usher in the […]
Borno State Governor, Babagana Zulum, on Monday signed into law the state’s N248 billion Appropriation Bill 2021 passed by the State House of Assembly. The Executive had earlier presented a N208 billion budget proposal into the Legislature but the fiscal proposal was jerked up to N248 based on what the Legislators was aimed at catering […]