Business

FG assures Nig. bond investors of better investment yields

The federal government has guaranteed holders of the nation’s Eurobonds of the safety of their investments, saying despite bleak economic outlook, the Nigerian government is working at strengthening its economy in the shortest possible period.
Nigeria’s Minister of Finance Mrs. Kemi [...]

Sat, 11 June 2016


Banks put hold on mass retrenchment

The federal government’s threat to Deposit Money Banks to stop sack of its staffers or risk withdrawal of their operational licenses may have paid off, as the banks last week agreed to suspend the mass sack of workers.
The bank chief executive officers under the aegis of the Bankers’ [...]

Sat, 11 June 2016


FG to disburse N95bn to 400 businesses in June

There were indications last week that the federal government has reached advanced stage for the disbursement N95billion to 400 businesses, under its Government Enterprise and Empowerment Programme, GEEP, intervention programme.
According to the Bank of Industry, BoI, the fund which is part of th [...]

Sat, 11 June 2016


Informal sector contributes 92% to agric growth

Despite the calls for the diversification of the Nigerian economy to more reliable sectors such as agriculture, growth in the sector has been largely informal at an estimated 91.85percent share.
Data on formal and informal sector split of the nation’s Gross Domestic Product for 2015 shows [...]

Sat, 11 June 2016


Abuja makes list of highest telcom subscribers

Approximately 6.03million of the total number of active telecommunication subscribers recorded in the first quarter of 2016 were resident in the Federal Capital territory at the time.
The figure which represent 4.05percent of the total number of 148.74million active subscribers in the country be [...]

Mon, 06 June 2016


Govts’ allocation drops as oil prices tumbles

Allocations to the three tiers of government again suffered a major hit in April 2016, with about N18.2billion reduction from the amount shared in March, following the drop in revenues from crude oil.
Government’s allocations from the federation account have been on the decline in recent t [...]

Mon, 06 June 2016


Salaries: FG to save more through IPPIS

The federal government said it is seeking to improve on the N220billion saved from leakages in the civil servants through the Integrated Personnel Payroll Information System, IPPIS, introduced almost a decade ago.
A statement from the Office of the Accountant-General of the Federation, disclose [...]

Mon, 06 June 2016


CBN bows to pressure, adopts flexible exchange rate policy

As expected, issues on the rising inflation and the foreign exchange market dominated discussions at the 250th meeting of the Monetary Policy Committee, MPC, Meeting of the Central Bank of Nigeria as the committee finally adopts flexible exchange rate policy.
The federal government has been unde [...]

Mon, 06 June 2016


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