Business

Inflation rate drops by 0.37% in June

Nigeria’s inflation rate has dropped to 11.23percent (year-on-year) from 11.61percent recorded in May 2017, making it the 17th consecutive month that the index would be recording continuous decline since January 2017.

The National Bureau of Statistics reports that the Consumer Price Index [...]

Wed, 01 August 2018


NEXIM Bank to disburse N25bn for non-oil export

As part of efforts aimed at stimulating the non-oil sector in the country, the Nigerian Export-Import, NEXIM- Bank, has received approval for a N25billion credit facility for exporters in the non-oil sector.

The loan, NEXIM Bank says will be disbursed to exporters of agricultural and value-adde [...]

Wed, 01 August 2018


NAICOM to unveil fresh guideline for recapitalization

The National Insurance Commission, NAICOM, will this week unveil the transitional guideline on the new recapitalization in the insurance industry.

NAICOM had last week announced a risk-based recapitalisation of the insurance sector with the introduction of 3-tier based recapitalisation for insu [...]

Wed, 01 August 2018


FG, states pay June salaries, to decide on NNPC

The states and federal governments have finally agreed to put on hold their prolong disagreement with the Nigerian National Petroleum Corporation, NNPC, over its revenue remitted into the federation account.

Recall that the disagreement with the revenue generating agency had led to delay in pay [...]

Sat, 21 July 2018


CBN begins Naira, Yuan currency swap

The Central Bank of Nigeria, CBN, has officially begun implementation of the Bilateral Currency Swap Agreement, BCSA, signed with the Peoples Bank of China.

The apex bank Friday, announced the flagged off its intervention in the sale of foreign exchange in Chinese Yuan, CNY, through a combinati [...]

Sat, 21 July 2018


FG, states review right of way charges for telecoms

The federal and state governments have approved a downward review of the Right of Way charges paid by telecommunication companies, to encourage investment in the sector.

With the approval, telcoms operators will now pay a token fee of N145 per metre to lay fibre cable anywhere in the country, a [...]

Sat, 21 July 2018


IPPIS: AGF assures military of hitch free enrolment

The Accountant-General of the Federation, AGF, Mr. Ahmed Idris, has assured the military that their salaries will not in any way, be affected by their enrolment on the Integrated Personnel and Payroll Information System, IPPIS, scheme.

The assurance became necessary to allay their fears about s [...]

Sat, 21 July 2018


NBS conducts survey to assess MSMEs’ impact on economy

The National Bureau of Statistics in collaboration with the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, is conducting a national survey to boost economic planning and development.

According to the NBS, the survey will assess the performance of Micro, Small and Medium Ent [...]

Sat, 21 July 2018


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