Business

NDIC’s drive for stability in Nigeria’s banking system

 

 

 

 

After 30 years of managing distress and risks in the banking sector of Nigeria’s economy, the Nigeria Deposits Insurance Corporation, NDIC, has demonstrated remarkable will in cushioning and stabilis [...]

Sun, 27 October 2019


Niger Delta leaders want Presidency to supervise NDDC

Some leaders of the oil rich Niger Delta region under the aegis of Niger Delta Leaders & Stakeholders Development Movement have called on President Muhammadu Buhari to return the supervision of the Niger Delta Development Commission, NDDC, to the Presidency.

 The call is contained in a [...]

Sat, 19 October 2019


Fuel subsidy to gulp N450bn in 2020

The Federal Government has budgeted N450 billion for fuel subsidy in 2020, Minister of Finance, Budget and National Planning, Zainab Ahmed, has said.

Ahmed, who disclosed this at the public presentation of the 2020 budget proposals in Abuja, said the N450 billion was on the ministry’s web [...]

Sat, 19 October 2019


NNPC, NISS partner to safeguard oil assets

The Nigerian National Petroleum Corporation, NNPC, and the National Institute for Security Studies, NISS, are combining efforts to contain the spate of insecurity around the state-run company’s operations.

Group Managing Director of the NNPC, Mallam Mele Kyari, on Friday received a delega [...]

Sat, 19 October 2019


N500, N1000, most commonly counterfeited - CBN

The Central Bank of Nigeria, CBN, has said the N500 and N1000 denominations remained the most commonly counterfeited currency in 2018.

The apex bank stated this in its 2018 Annual Currency Report posted on its website on Wednesday, stating that N500 and N1000 accounted for 65.29 per cent and 34 [...]

Sat, 19 October 2019


Nigeria rallies African countries on oil benefits

Ahead of the December Joint Ministerial Meeting Committee, JMMC, of OPEC and non-OPEC countries in Vienna, Austria, Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva, has visited three oil-producing countries in Africa to discuss compliance to the declaration of cooperatio [...]

Sat, 19 October 2019


VAT revenue grows by N4.792b in September

Gross revenue available from the Value Added Tax, VAT, for September 2019 increased by N4.792 billion, the Federal Account Allocation Committee, FAAC, has said.

FAAC, in a communique issued after its meeting in Abuja said in September, VAT revenue was N92.874 billion as against the N88.082 bill [...]

Sat, 19 October 2019


NDIC pays over N11.9bn to DMBs’ depositors, others

The Nigeria Deposit Insurance Corporation, NDIC, has disclosed that it paid a cumulative sum of over N11.9 billion as insured amount to 527, 283 depositors of closed banks.

 

Speaking at a press conference to mark 30 years of the corporation in Abuja, the Managing Director a [...]

Sat, 19 October 2019


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