Business
CBN charge MfBs on technical supports for SMEs
Operators of microfinance banks in the country have been charged to come up with other ingenious measures to support Small and Medium-scale Enterprises, as the provision of loans alone is not enough to make them succeed.
The Central Bank of Nigeria asked microfinance institutions that provide c [...]
Staff of defunct Nigeria Airways get N22bn severance package
Former staff of the defunct national carrier, Nigeria Airways, will from Monday next week start receiving payment of their severance benefits from federal government.
The Minister of Finance, Mrs. Zaibab Ahmed in a statement in Abuja, said the payment worth N22.6billion will last for seven days [...]
Tax: FG to levy owners of assets abroad
Owners of assets outside the shores of the country have been given a 12month grace period, starting from October 8, within which they must declare and pay taxes on their assets abroad.
This directive follows the recent signing of the new executive order number eight, tagged Voluntary Offshore A [...]
World Bank/IMF meeting and murky shadow on Nigeria
Economic projections on Nigeria were relatively gloomy at the just concluded annual meetings of the International Monetary Fund and World Bank Group, with experts predicting low economic growth among other indicators.
The country currently sits at a distant 152nd position among 157 countries, i [...]
Flood threatens rice production, agric minister warns
The federal government has warned that the country is likely to experience shortage in rice production, owing to the flash flood currently being recorded in parts of the country.
The Ministry of Agriculture and Rural Development cautioned that if adequate measures were not taken to replant the [...]
Telecoms attract $5bn quarterly investment
Investment into the telecom sector in Nigeria has been steadily attracting deals worth $5billion every quarter since the beginning of 2018, bringing total investment in the sector since 2001 to $85billion.
According to the Nigerian Communications Commission, NCC, sector’s contribution to [...]
NDIC pays N11.50bn to failed bank depositors
The Nigeria Deposit Insurance Corporation, NDIC, said it has paid over N11.50billion to depositors, creditors, and shareholders of failed banks as at 2017.
The Managing Director of NDIC, Alhaji Umaru Ibrahim, who disclosed this at the NDIC’s Special Day at the 13th Abuja International Tra [...]
Afreximbank task banks on trade facilitation programme
Commercial banks operating on the continent have been urged to key into the Trade Facilitation Programme of the African Export-Import Bank, Afreximbank, in order to improve their business performances.
The Manager, Guarantees and Specialised Finance Unit of the bank, Ms Fatma Bao, said Afreximb [...]
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